Business Confidence Rising – AGI Survey
09-08-2019
Business confidence as measured by the Business Barometer Indicator (BBI) of the Association of Ghana Industries (AGI), has shown a rebound in the second quarter of 2019, reflecting improved sentiments of the business sector compared with the previous quarter.
The Business Barometer Indicator recorded rising confidence as measured by its index which rose from 99.8 in first quarter to 103.2 points for the second quarter of 2019.
The Business Barometer Indicator (BBI) measures the level of confidence in the business environment and predicts short-term business trends, based on the business community’s assessment of current economic conditions and perceptions of the business climate.
At a press briefing in Accra on Wednesday, the Chief Executive Officer (CEO) of the Association, Mr. Seth Twum Akwaboah explained that the reason for the improvement in the sentiments of businesses has largely been to the enhanced macroeconomic stability in the country.
“For instance, the inflation has consistently been dropping, whereas the policy rate of the central bank has also been maintained. Moreover, the cedi did not record a significant depreciation during the second quarter,” Mr. Akwaboah noted.
However, industry pointed out five keys challenges that were encountered during the second quarter including the high cost of electricity as the leading impediment, along with high cost of raw materials, cedi depreciation, and delayed payments in relation to the construction sector.
During the first quarter, the depreciation of the cedi was the leading impediment, followed by the high cost of electricity and high cost of raw materials.
Going into the second half of 2019, the Association points out that high cost of raw materials and electricity, as well as the current tax regime, remain major constraints to growth of local industry.
However, in contrast, business confidence as measured by the index derived from the Bank of Ghana’s (BoG) Business Confidence Survey for June 2019 showed marginally dampening sentiments in the confidence of the business sector.
The central bank’s own business sector confidence index slowed to 94.1 percent, following a recovery in the survey conducted in March 2019 to 94.3 percent.
Source: https://www.ghanaweb.com/GhanaHomePage/business/Business-confidence-rising-AGI-survey-770721
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- Textiles Tax Stamp To Revive Ailing Sector - Ahomka-Lindsay
- Univlever marks Global Handwashing Day
- New Member : Mammoet West Africa Ltd
- GRA’s Revenue Faces Massive Dip Over Fake TIN – Analyst
- New Member: ELT
- Ghana To Lose €60m Dutch Govt Facility Over Delayed Implementation Of Recycling Project
- Press Release - Vivo Energy: Seven Taxis and 100 Motorbikes for Motorists
- GRA’s ‘Controversial’ CTN Policy Takes Effect October 15
- The Brand, Design and Identity Workshop
- Parliament To Pass New Companies Act At Next Meeting
- Indiscipline Affecting Quality Of Work By Ghanaian Professionals – Auditor General
- Travel Advise from Dutch Ministry of Foreign Affairs
- Cut Expenditure, Corruption To Reduce Growing Debt Stock – ISSER
- Memphis Depay Releases Visuals To New Song ‘Akwaaba’ Shot In Ghana
- SLNBCC Newsletter Volume 13- September 2018
- Akufo-Addo's speech at the 73rd UN General Assembly
- Opening of Ghana Innovation Hub on 1st October
- Hortifresh Launch
- LNBCC Newsletter
- Search for Internship
- Search for 5% local participation in Ghana’s oil blocks
- Stop Harassing Our Business- Nigerians Protest Against Ghana
- Successful Joint Cocktail with the GSABC
- Join NABC at the Road2West Africa: Nigeria, Ghana, Côte d’Ivoire & Senegal Event!
- Cut Down Expenses Of Government Officials
- HortiFresh - Call for Concept Notes
- Is Ghana Ready For More Local Content?
- Vivo Energy Press Release: Update on the Transaction between Vivo Energy and Engen Holding
- Job Vacancy: Chief Financial Officer, Ghana
- KLM Flights Operations Now at Terminal 3
- The Euromoney Ghana/West Africa Conference 2018
- Gov’t To Ensure Predictability With 6 Months Fixed Exchange Rate Regime At Ports
- Survey for Dutch Citizens Abroad
- GNBCC and Ghana South Africa Business Chamber (GSABC) Joint Cocktail
- Sierra Leone & Liberia Business Day In The Hague - A Fruitful Venture For All Parties Involved
- Gov’t Must Ensure Free And Fair Trade — Unilever Boss
- 2018 Ghana Banking Survey Report - PWC
- Relocation of Vivo Energy Ghana Head Office
- KIA Terminal 3 To Be Operational Sept 15
- Sustainable Development Goals Partnership Facility (Launched)
- WaterAid Partners with Charlotte Prive on ‘Fashion4Change’ Campaign
- Update on (draft) bill double nationality for Dutch Citizens
- Sierra Leone and Liberia Business Day - 11th September
- Cargill Doubles Sustainable Sourced Cocoa In Ghana-Benefitting 13,000 Farmers
- Job Vacancy: Workshop Manager – Akosombo, Ghana
- CTN Exposes Rot At Ports; $14.04m Lost In July
- Opening of the International Mining Expo
- How Grace Mugabe Earned Her PhD And Collapsed 7 Ghanaian Banks
- Importers Mistrust ‘Frustrate’ Paperless Port - GRA
- Search for Internship in the Water Sector
- AGI Letter Of Protest Towards New Straight VAT Levy Regime
- Private Sector Growth Slows To 22-Month Low – Stanbic Bank PMI
- Confusion Hits Ports Over CTN
- Sign Continental Free Trade Agreement – Nana Addo Urges Nigeria
- Invitation to the Top MBA Event in Accra
- Business Matching and Sponsorship Proposal For The GBT Start-Up Investor Conference
- DHI Tender for Dutch Investors
- Campaigning for Dutch citizens abroad
- Ghana Finance Boss Aims to Keep IMF Checks After Bailout End
- Cedi’s Volatilities in Q3 Unabated
- Nuffic: Call for Joint Proposals for Tailor-Made Training
- Petroleum Local Content Law to Be Reviewed
- Shipping Lines to Reject Cargoes Without CTN
- Ghana Beyond Aid: Experts warn against over-reliance on natural resources
- Inflation Drops to 9.6% in July
- Postponement of Africa Works! 2018 to April 2019
- A Thriving Private Sector: The Key to Sustainable Socio-Economic Growth
- Economy Remains Volatile – AGI
- Dutch Honorary Consuls Speak Out
- August 2018 Tax Updates by KPMG
- Tema Port Expansion Project Set to Receive Modern Cranes
- Black Star International Film Festival
- New Business Challenge 2018 Final & Cocktail
- SLNBCC Newsletter Volume 13- July 2018
- Export Orientated Industrialization, Key To Ghana's Development
- Sacking Boakye Agyarko Not Enough – CSOs
- New Personal Income Tax Band - Effective 1 August 2018
- Vivo Energy Press Release: Shell Service Station Offers Employment to Locals
- Public Debt To Reach 72.4% Of GDP – Moody’s
- GNBCC Cocktail and New Business Challenge Final
- New Member: Meridian Ports Services Limited
- Paperless Port Boosts Half-Year Import Revenue
- Value Added Agriculture West Africa Expo - Ghana
- New Member: El Balicon
- We Are Disappointed In Akufo-Addo – Importers And Exporters
- Africa Works! 2018
- IES Cautions Of High Cost Of Power With New Ameri Deal
- GCS Leads Charge For Creation Of Local Content Policy For Ghana’s Maritime Industry
- Monthly GNBCC Cocktail was Hosted Last Night by Ntrakwah & Co.
- New Member: Ribeth Hygenyk Foods
- PwC’s 2018 Mid-Year Fiscal Policy Review in Tax Measures
- EXPOSED!…Rice Importers Stealing Millions From Gov’t
- New Member: Environment360
- Official Launch Of Private Sector Initiative Against Corruption (PSACG)
- Wage Bill Hits GHC14bn, Takes 45% Of Tax Revenue In 2017
- Insurance Hints & Tips from Allianz Ghana
- Ghana Free Zones Authority Breakfast Meeting
- GNBCC Cocktail Hosted by Ntrakwah & Co
- New Member: Venital Ghana
- New Business Challenge Studytrip NL: Learning from each other!
- Mid-Year Budget Review: Subtle Tax Measures May Yield More
- New Member: Nana Abeyie Farms
- Consumers To Pay More Tax…After NHIL And Getfund VAT Conversion
- PowerElec Ghana 2018.
- Ghana Records Drop In Economic Freedom Index
- Paperless Port Saves Gov’t Blushes…Revenue To Increase By 30 Percent
- SLNBCC NEWSLETTER VOLUME 12- JUNE 2018
- New Member: Maridav Ghana Limited
- Government To Increase Taxes In Mid-Year Budget
- Job Vacancy: Program Officer for Sustainable Cocoa Programs in Kumasi
- New Member: Nobisfields
- Freight Forwarders To Petition Parliament Over Cargo Tracking System
- MAP-EXPO: Global Marketplace for Medicinal & Aromatic Plants
- Mid-Year Budget Review: Tax Net Needs Widening, Not Deepening – Economist
- UNIPASS Deal Takes New Twist…As Contract Being Written Again For Tender
- LNBCC Newsletter, Sixth Edition 2018
- New Member: Jumia Group
- Ghana Loses More Than $3bn Yearly Through Corruption
- New Business Challenge Participants to Depart for the Netherlands
- New Member: GreenLine Logistics Limited
- SA Could Soon Be Like Zimbabwe?
- Growth dips to 6.8% in Q1: Most sectors present negative figure
- Only a useless country charges GHC 5 billion port duty for 1 car - Obinim laments
- Information for Dutchies overseas about voting outside the Netherlands (in Dutch)
- Successful Cocktail Last Night, hosted by SNV
- VIA Water Café organized on 22nd June 2018 in Accra
- New Member: PUM Netherlands Senior Experts
- New Member: Ozer Logistics Ghana Limited
- UN Report Finds Millions Of Ghanaians Not Benefiting From Booming Economy
- GNBCC Member Logess Guesthouse Invites You to Opening of ViaVia Accra
- Akufo-Addo Places Temporary Travel Ban On Gov’t Officials
- Single Window Saves Ghana $500m In Two Years - UGBS Report
- GNBCC Cocktail Tomorrow, Hosted by SNV
- Dutch Government Survey on Dutch Consular Services
- New Member: GhanaWeb BV
- Job Vacancy: Financial Manager
- Foreign Investments Hindered By Current Minimum Capital Requirement
- Tema Port Expansion: MPS LTD Has Drawn Its First $100 Million From The $667 Million Project Financing Package
- Government To Review Paperless Port System – Bawumia
- SLNBCC Newsletter, Volume 11 - May 2018
- Design Thinking Ghana Conference (DTGC2018)
- 'Economy Cannot Be Dominated By Foreigners Only’ – Nana Addo
- New Member: The Advantage Group (TAG)
- Another Layer To Kelni GVG Architecture Is Another Layer Of Incompetence - Franklin Cudjoe
- Vivo Energy Press Release: Residents of Atukpai Clear up Their Community
- Single Window Showcased On World Stage
- La Pleasure Beach Resort Closed Down Over Insanitary Conditions
- Major Players In Downstream Sector Petition Energy Minister
- LNBCC Newsletter, Sixth Edition
- New Member: Artic Schools
- Akufo-Addo’s First Ministerial Reshuffle
- Industry People Warn Against Changing Single Window Implementer
- Textile Retailers Threaten To Beat Up Anti-Piracy Taskforce
- Job Vacancy: Chief Operating Officer
- Student Entrepreneurship Week Ghana
- New Member: Strategic Communications Africa Ltd
- Job Vacancy: Strategic Sales Manager
- Pum Netherlands Senior Experts Is Looking For Local Representative
- Call Up For Set Up Interest Group For Dutch Nationals Abroad
- GRA To Bear Cost Of New Cargo Tracking From June 1st
- Vacancies at MDF West Africa
- Press Release: Vivo Energy Furnishes Community Library with Books
- Freight Forwarders kick against UNIPASS
- Kick Off New Business Challenge 2018
- EU Data Protection Rules: Remain Updated with GNBCC
- New Member: MIDAS Insurance Brokers
- Africa Works ! 2018
- The system forces us to be corrupt’ – Private businesses launch anti-graft initiative
- Kelni- GVG deal is costing Ghana $179 million, not $89 million - according to IMANI
- Government issues three months ultimatum to illicit textile retailers
- Vacancy for Country Director in Ghana.