GNCCI BUSINESS BRIEF (8th - 12th Feb, 2021)

Economy

• Banks borrowed GH¢2.57bn from BoG in pandemic year
• Inflation begins year at 9.9% as food prices decline
• Cedi shows resilience against dollar, euro

Sectoral

• Economic challenges keep cost of borrowing high
• COVID-19 Workplace Spread: Taskforce constituted to monitor compliance of protocols
• Finance Ministry pays GH₵12bn to IPPs since 2017
• SSNIT to integrate Ghana Card unto System
• Ghana’s local cocoa processing capacity hits 50% of production
• Ghana’s financial markets are showing strong resilience against the economic impacts of COVID 19’s second wave

Trade & Investment

• Sensitisation Seminar on the AfCFTA

Policy

• Small businesses must tap into 1.3bn consumer market presented by AfCFTA

International

• EU to work with Biden administration to settle trade disputes
• Ghanaian exports to UK still attract tariffs

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