After a successful Access Bank/Graphic Business SME Clinic held in March this year, the Bank has held a workshop to help players in the sector take advantage of opportunities and scale up their businesses.
The battle lines have been drawn for the third edition of the Tertiary Business Sense Challenge (TBSC), which will take place from Monday, June 7 to Sunday, June 20, this year.
Graphic Online
BY: Maxwell Akalaare Adombila
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The Bank of Ghana (BoG) has slashed its benchmark rate, the policy rate by 100 basis points (bps), signalling a return to monetary easing after a year of tightening.
The bank reduced the rate from 14.5 per cent to 13.5 per cent today after concluding its 100th Monetary Policy Committee (MPC) meeting on May 29.
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, who chairs the seven-member committee, said at a news conference in Accra yesterday that the reduction in the rate followed the waning in risks to the inflation and growth outlooks, which had occasioned a sustained rate-hold between May 2020 and March this year.
Ghana-Press-Review June 01, 2021 to 10:43 105 APA – Accra (Ghana) The report that the Bank of Ghana has slashed its benchmark rate, the policy rate by 100 basis points, signalling a return to monetary easing after a year of tightening and the assurance by the European Union not to place a ban on the purchase of cocoa from Ghana because of child labour claims are some of the leading stories in the Ghanaian press on Tuesday.
The Graphic reports that the Bank of Ghana (BoG) has slashed its benchmark rate, the policy rate by 100 basis points (bps), signalling a return to monetary easing after a year of tightening.
Graphic Online
BY: Maxwell Akalaare Adombila
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Domestic manufacturers are seeking solutions to the fallouts of the benchmark policy that they said was pushing them out of business after making imports cheaper.
The Association of Ghana Industries (AGI) told the Economic Management Team (EMT) at a meeting between them and the Ghana Union of Traders Association (GUTA) last week that the reduction in the benchmark values by up to 50 per cent in April 2019 had cheapened imports and dampened demand for local substitutes, resulting in a slowdown in growth in the manufacturing companies.
In a plea that had since been rejected forcefully by the umbrella body of the trading community, the advocacy body for manufacturers said the policy on benchmark value reduction must be reviewed downwards to safeguard manufacturing jobs and protect the fortunes of the sector from deteriorating further.