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Pulse Business Wrap - 1st Feb 2016 | NPA accuses transport leadership, ECOWAS CET in force

75 views · Published 1 February 2016 · 1:53 · Indexed 10 November 2026

Channel: Pulse Ghana · 2016 · Entertainment

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NPA boss accuses Transport leadership of betrayal

The Chief Executive Officer of the National Petroleum Authority, Moses Asaga, has accused the leadership of the Ghana Road Transport Coordinating Council (GRTCC) of "betrayal."

This was after the Ghana Road Transport Coordinating Council announced a 15 percent increase in transport fares.

He said, quote “For me it’s a betrayal, when three parties are having a negotiation and we haven’t come to any conclusion and we have agreed that on Monday there is going to be a meeting and you suddenly jump up to go and announce new prices” unquote.
 
New ECOWAS Common External Tariff takes effect

The new Economic Community of West African States (ECOWAS) Common External Tariff (CET) has taken effect, raising uncertainty among local importers.
The new tariff is one of the instruments of harmonising ECOWAS Member States and strengthening its Common Market.

The law came into effect following the passage of the Customs (Amendment) Act, 2015 (Act 905), by the Ghana Revenue Authority.

Importers in Ghana are however uncertain whether the new law would lead to an increase or decrease in cost of importation.
 
We go to the currency market now where

Currency                      Buying                         Selling
Dollar                             3.83                             4.3
Pound Sterling               5.45                             5.75
Euro                              4.15                             4.45
 
To updates from the stock exchange today
HFC bank was the biggest loser of the day, dropping 5p to close at 1.05p....whereas Benso Oil Palm Plantation recorded the biggest gains, gaining 3p  to close at 3.05p.

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