Twitter employees claim layoffs have begun after Elon Musk’s takeover

Twitter employees have begun to post online that they believe they have been laid off, ahead of a company announcement later on Friday. The social media behemoth says it will notify employees whether they are still employed following Elon Musk’s takeover. Employees are leaving by tweeting with the hashtag #LoveWhereYouWorked and a saluting emoji. Working for Twitter was “the greatest privilege ever,” according to Yash Agarwal, who worked in public policy. The BBC is not liable ...[Read More]

Food prices will not drop in December

Dr Charles Nyaaba, Programmes Director of the Peasant Farmers Association of Ghana, is sceptical that food prices will fall in December. This is due to the difficulties farmers face, such as the high cost of doing business, he claims. Dr. Nyaaba told TV3’s Roland Walker on the Big Issue on Friday, November 4, that “depending on the commodities, food prices will not come down; it will be extremely difficult for prices to come down.” This comes as the Minister of Food and Agricul...[Read More]

I wasn’t paid $25 million to paint Accra- Gyankroma

One of President Akufo-Addo’s daughters claims she was not paid $25 million to paint portions of Accra. According to Ms. Gyankroma Akufo-Addo, such charges are entirely baseless. Contrary to popular belief, she claims that the initiatives were privately designed and funded. She blamed some “shameless people” for being behind the speculation. “For the avoidance of any doubt, it is important to state that these projects were solely conceived, managed, and financially undert...[Read More]

Sachet water prices to increase by 60 pesewas today

Ghanaians will have to pay more for bottled and sachet water starting today, Monday, October 31, 2022. This is in response to the National Association of Sachet and Packaged Water Producers’ recommendation that sachet water prices rise by 60 pesewas. It was also suggested that 500ml bottled water be sold for GH2.50, 750ml bottled water or medium size be sold for GH3.50, and 1.5-litre bottled water be sold for GH5. The Association attributed the increase to rising fuel prices and other inpu...[Read More]

The closure of Forex Bureaus for noncompliance will continue

President Nana Addo Dankwa Akufo-Addo has stated that the effort to close down non-compliant forex bureaus will continue. This is one of the measures being implemented by the government to address the country’s economic challenges, particularly Cedi’s poor performance against the US dollar. In his address to the nation on Sunday, October 30, Mr. Akufo-Addo stated, “The following actions have thus far been taken: 1) increased supervision by the Bank of Ghana in the forex bureau ...[Read More]

New transport fares are out following GPRTU’s rate increment

Commuters around the country awoke to an increase in transportation rates on Friday, 24 hours before the agreed-upon date of October 29. The action is consistent with the Ghana Private Road Transport Union’s (GPRTU) decision to raise tariffs in the face of adversity. Fuel costs have skyrocketed in recent months, causing outrage among drivers who have committed to passing part of the expense on to consumers. Increased lists have been put at vantage points at various Accra bus stations to wa...[Read More]

SIM registration to improve delivery of financial services

According to Dr Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana (BoG), the Bank has since developed a comprehensive licensing regime that has carefully examined and calibrated the requirements of each license category to be commensurate with the risks presented by their permissible activities. He added that it also sought to address the reality that some accommodations for smaller entities and indigenous Ghanaian service providers were required. To fulfill the mandate outlined in...[Read More]

Our foreign exchange scheme is too weak; time to tighten it

Dr. Mahamudu Bawumia, Ghana’s Vice President, has admitted that the country’s foreign exchange systems appear to be inefficient. This, he believes, has contributed to the country’s current economic challenges. He maintains that the government and key stakeholders must consider tightening the foreign exchange regime by reconsidering innovative production methods. Speaking at the Standard Chartered Digital Banking Innovation & Fintech Festival in Accra, the Vice President sta...[Read More]

Kumasi traders threaten to halt imports for two weeks

Eight trader groups and importers in Kumasi, Ashanti Region, have threatened to close their shops and halt imports for two weeks in order to protest the cedi’s continuous free fall against major trading currencies. The traders who import and sell clothing and goods claim that the volatile nature of the exchange rate is collapsing their business and eroding their capital. Nana Yaw Agyeman, Deputy Secretary of the Kumasi Importers Association, said the various groups’ leadership is mob...[Read More]

Release cash from scrap sales to save the railway company

The Railway Workers Union has urged President Nana Akufo-Addo to direct the Railways Ministry to release the GH6 million earned from the auctioning of scrap metals by Ghana Railways Company Limited. This, they claim, will help purchase fuel and finance other operational costs, preventing the Railways company from going bankrupt. Godwill Ntarmah, General Secretary of the Railway Workers Union, told Citi News in Takoradi that the railway company is “on the verge of collapse and unable to buy...[Read More]

Ethiopia Minister impressed by Jospong Group

Ethiopia’s Minister of Water and Energy, Dr. Ing. Habtamu Itefa, has praised the Jospong Group of Companies (JGC) for their outstanding environmental work in Ghana. As a result, he has made a firm commitment to recommend the Jospong Group to his government upon his return, so that Ethiopia can benefit from the same high-quality services as Ghana. “I’m impressed with what I’ve seen, particularly the compost plant.” “It’s fantastic,” he said. On Frid...[Read More]

Cement prices surge above ¢80 as the cedi depreciates

As manufacturers’ input costs rise, the price of cement has risen above $80 per 50-kilogram bag. This represents a 10% increase over the last price adjustment, which occurred almost two months ago. According to Joy Business’s checks at some retail dealers, the price of cement ranges from 77 to 85 per 50-kilogram bag. Similarly, it varies between dealers such as GHACEM, Diamond, and Dangote. However, Dzata cement is less expensive. The rise in cement prices indicates that the cost of ...[Read More]