31January2015

Business in Ghana

BoG Shores Up Currency As Cedi Shows Early Signs Of Weakening

Barely a month into the year, the Ghana cedi has started showing early signs of losing its value to major currencies, particularly the United States dollar, a scare that is forcing the Bank of Ghana to almost double its weekly dollar float into the market.

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Africa World Airlines Begins Night Flights To Kumasi

Air travellers to Kumasi last Friday evening, January 23, had the opportunity to experience the inaugural night flight of domestic carrier, Africa World Airlines (AWA).

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Ghana To Lose $700m In Oil Revenue Due To Fall In World Price — Prez

It is estimated that Ghana will lose $700 million in oil revenue this year as a result of the falling price of crude on the world market.  Averagely, the country made $1.2 billion annually from crude oil production, but the President, Mr John Dramani Mahama, says the latest developments on the world market have brought the expected revenue down to $500 million.

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Daily Wage Now GHC 7

The National Tripartite Committee has agreed that the National Daily Minimum Wage should be increased by 16.7%.

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Banks Rip-off Customers; Make 1000% Profit For Express Cheques

Commercial banks in the country are charging their customers more than 1000 percent of the GH¢1.50 they pay to the clearing house, the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), for express cheque clearing services.

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