Author: newsfilegh

Stakeholders and industry players have impressed on banks to ensure quick implementation of the reduction in the policy rate to 23.5 percent. According to these stakeholders the reduction is a significant one which should reflect in no time. The governor of the bank of Ghana Dr Abdul Nashiru Issahaku cited the country’s declining inflation, seeming cedi stability and improved inflation, factors for the reaction. The reduction which is the biggest in 10 years represents a 200 basis point reduction. 3FM Business has been speaking to various industry players on this development According to the president of Ghana Union of Traders…

The Christian Council of Ghana (CCG) fears factories under the1-district, 1-factory policy will collapse if government officials and Ghanaians refuse to consume products that would be produced by them. “Our leaders are preaching the use of made-in-Ghana goods, yet we print our T-shirts outside Ghana. We design clothes, books, diaries outside”, the General Secretary, Rev Dr. Kwabena Opuni-Frimpong told Onua FM’s Ghana Dadwene on Tuesday. He said “if we don’t build national confidence in the products we will produce from the one-district-one factory, the factories will collapse. Leaders must show leadership by eating local food at state functions. Credit cards are…

President Nana Addo Dankwa Akufo-Addo turns 73-years-old today March 29, 2017 The former Attorney General and Foreign Affairs minister under the Kufuor administration celebrates his first birthday as president of Ghana since taking over power on January 7, 2017. The veteran politician first ran for President in 2008 and in 2012, both times as the candidate of the New Patriotic Party (NPP), but lost on both occasions toNDC candidates: John Atta Mills in 2008 and John Dramani Mahama in 2012. He was chosen as the NPP’s candidate for a third time in the 2016 elections and defeated Mahama in the…

The Executive Director of Irbard Security Consult, Irbard Ibrahim has attributed the proliferation of vigilante groups in the country to the failure of successive governments to query their existence and halt their operations. He is therefore calling on the president, Nana Addo Dankwa Akufo-Addo to speak against and disown these political-based vigilante groups. He also called on the president to empower the national security agencies to clamp down on these vigilante groups. In an interview with Henry Eliud Yankey on Connect FM’s weekday political program ‘Asem Yi Dzi Ka’ on Monday, Mr. Ibrahim said the insurgence of these groups is…

Source: 3news.com | Ghana

A private legal practitioner has implored the 40 former Members of Parliament seeking some 10million cedis pension benefits from government, to let go their demands. The 40 former MPs, who served in the third and fourth parliaments during the Kufuor administration, have sued the Attorney-General and the Ministry of Finance over pensions owed them. According to these former law makers, the government must pay them at least two hundred and thirty three thousand, four hundred and ninety five cedis (233,495) each, totaling about ten (10) million cedis. The basis of their legal action is the Chinery-Hesse Presidential Emoluments Committee’s report,…

Hip life artiste Kwaw Kesse has revealed that he owns a $2.5 million mansion he built from the scratch. He made this claim on TV3’s rejuvenated ‘Music Music’ program on Saturday, March 25. He says his new house is worth $2.5million compared to some other artistes, who are bragging about buying million-dollar mansions. “I’ have a $2.5 million mansion I built from the scratch,” he said. Dancehall artiste Shatta Wale and Fuse ODG had earlier claimed that they own mansions worth US$1 million. The ‘Abodam’ artiste also likened himself to the King of the Ashanti kingdom saying “I’m the King…

The Minister of Health, Kwaku Agyemang Manu has assured aggrieved nurses that they would be posted once the budget estimate of the ministry has received Parliamentary approval. Young nurses, both male and female, Tuesday morning besieged the premises of the ministry, insisting that they are posted immediately. This delayed the minister who appeared in Parliament for his Ministry budget estimate approval, albeit late. Agyemang Manu told the house some of the nurses that have not been posted have been home since 2014. “I had no option than to grant them audience, cool their tempest and assure them that when the…

Introduction As the normal principle of economics says, when a domestic currency depreciates it makes the prices of goods and services decline compared to the international prices. This cause increase in exports and makes it competitive which will eventually increase production and employment to surge growth in the entire economy. Unfortunately, it is not the case in Ghana. We have experienced steep depreciation of the cedi over the past five years, a massive decline in export and a slow economic growth over the last few years. This is as a result of dollarization of our economy, mismanagement of resources, high…

Former Trade and Industry Minister, Dr. Ekwow Spio- Garbrah is proposing that the Finance Ministry collaborates with Trade Ministry with regards to tax issues in the country. In an interview with 3FM92.7 he stated that the Trade Ministry should be involved in discussions on tax policies. “The Trade and Industry Ministry does not get involve, does not get invited to discussions that deals with taxes and levies when it ought to be”, he stated. Dr. Spio- Garbrah believes made-in-Ghana products are likely to face competition from imported ones following the cut in taxes by the government. Government has since 2013,…