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Bakers in Kumasi to increase price of bread from ₵6 to ₵8

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Prices of bread are expected to increase on the market as bakers complain of hikes in cost of ingredients.

They say the prices of flour and sugar have increased astronomically, hence the intended increment.

Some members of the Bakers Association say the increment is necessary to keep them in business.

The bakers say the price of a loaf of bread will go up from  ₵6 to  ₵8 from 2nd April.

Desmond Obeng, a baker, says ingredients such as margarine, egg and salt have seen prices shoot up on the market.

The bakers fear any delay in increasing their products will collapse their businesses.

“The price of flour used to be GH₵250, but it’s now GH₵305. Just this morning, I heard the flour has increased again to GH₵340. The price of sugar, milk and eggs have also shot up,” he said.

Meanwhile, some bread retailers complain of low sales when prices are increased.

They say the recent fuel hike is already kicking them out of business and are, therefore, calling for the government’s intervention.

The bread retailers fear being pushed out of business without the government’s intervention.

Some bread consumers are worried over the new price increases.

A concerned consumer indicated that “if they’re increasing the prices, they should ensure it matches with the nutritional benefits and taste”.

Another added “I eat bread with almost every soup or stew. I am really worried about the new prices”.



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Roam evolves to become ‘The African Talent’

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Africa’s leading recruitment marketplaces have announced their new identity, coming together and rebranding as The African Talent Company.

Backed by its shareholders Swiss Ringier AG and Australian SEEK Ltd., the company has now significantly expanded its mandate to bridge the talent gap in Africa by addressing both the supply and demand side of the African labour market.

Formerly operating under the name of ROAM Jobs, The African Talent Company is expanding its services to cover the full spectrum of African Talent Management.

By holistically addressing the challenges that exist in Africa’s labour market, The Africa Talent Company is better equipped to meet employers where they are and effectively match them with the best talent. Recruiters will have access to a more robust catalogue of HR solutions and services that are tailored and designed to be accessible across a wide range of requirements, including digital recruitment solutions and manpower outsourcing.

To provide more career development support, The African Talent Company will be investing further in the e-learning space and developing a winning suite of diverse, easy-to-use, self-service online products for upskilling candidates on its platform. Jobseekers will also benefit from timely access to relevant job listings, visibility to top companies hiring, and career developmental support while employers can access quality candidates in a cost-saving and efficient recruitment process.

Speaking on the launch, ROAM Africa CEO, Clemens Weitz, commented, “today, Africa’s labour markets have large inefficiencies, but have the potential to play a great part in the global economy. Addressing this challenge requires deep focus and strong partners. With The African Talent Company, we are excited to unite a strong team with a dedicated commitment to play a part in cracking this challenge. The team will be led by Hilda Kabushenga Kragha, who has an outstanding track record and passion for this purpose. We wish her and the team continued success.”

The African Talent Company Chief Executive Officer, Hilda Kabushenga Kragha added, “the world of work has evolved rapidly in the past two years. Increased digitisation has made remote work, gig work, and BPO become mainstream, further highlighting the great skills divide in Africa and the need to invest in the training of young Africans if we are to effectively participate in this new, globally competitive workforce. Our new mandate will see us move beyond the traditional marketplace and begin to holistically tackle the challenges we see in our labour markets in a hybrid approach that benefits both seekers and employers. As pioneers and leaders in Africa’s labour markets, we are evolving to expand our reach and impact as a brand by moving into this new era as The African Talent Company.”

With more than a combined 4.6 million job seekers and 150,000+ employers on the platform, The African Talent Company has a robust profile system that enables easier and more relevant matching with top opportunities across the continent, catering effectively to small and large organisations.

In 2021, it secured two-thirds of all paid job listings across its markets, reinforcing the company’s position as the market leader in recruitment on the continent.

With over 1.3 billion in population, for Africa to reap the demographic dividend of its bulging youth population, a concerted effort is needed between the public and private sectors.

The African Talent Company has therefore partnered with global organisations including the German Agency for International Cooperation (GIZ), The Mastercard Foundation, and USAID, providing data-driven insight and nuanced market knowledge. These partnerships have enabled The African Talent Company to build value-adding knowledge-sharing events and reach low-income communities with low technology penetration, upskilling talents to increase their chances of landing a befitting job.



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Government, BoG under pressure to address rising inflation

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Government and the Bank of Ghana (BoG) are under pressure to respond quickly with additional measures to slowdown the rising inflation rate which hit 23.6% in April 2022.

The current rate of inflation is the highest since January 2004.

Some consumers and market analysts who spoke to Joy Business argued that the measures introduced so far by managers of the economy are not enough to address the rising inflation rate.

Organise labour have also argued that it members will push for new minimum wage of not less than 23.6% due to the current inflation rate for the month of April.

This is another demand that will put pressure on government for a quick response to the current situation.

Some market watchers have pointed out that since it will be difficult to grant this request, the best option now is to look for ways to slowdown the rising inflation rate.

Rising food prices has been identified as the major driver of the inflation rate for the past three months. This will alert government to improve the supply side of inflation.

On the monetary side, some arguments have been made for another policy rate hike by the Bank of Ghana to address the demand side of inflation.

Surging food prices, transport fares, push inflation to 23.6% in April 2022

Surging food prices once again drove inflation for the month of April, 2022 to 23.6%, figures from the Ghana Statistical Service has revealed.

This is the highest since January 2004.

According to the GSS, four divisions – Transport (33.5%); Household Equipment and Routine Maintenance (28.5%); Food and Non-Alcoholic Beverages (25.6%), and Housing, Water, Electricity, Gas and Other Fuels (25.0%) recorded inflation rates above the national average of 23.6% with Transport recording the highest inflation.



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E-levy: Multiple exemptions on e-levy to end on July 1 – GRA

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The Ghana Revenue Authority (GRA) has stated that multiple exemptions being enjoyed by mobile money users with more than one account is temporary.

A Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, stressed that this will phase out “on July 1, 2022.”

The e-levy law stipulates that consumers are expected to be charged per account, but currently, consumers with multiple accounts are enjoying multiple exemptions.

CEO of the Ghana Chamber of Telecommunications, Ken Ashigbey, explained on the Super Morning Show on Thursday that “what is happening is that not all the charging entities have been rolled onto the common platform which would have been able to take your unique identifier, therefore, if you have multiple SIMs then you’ll be enjoying multiple exemptions.”

However, the Ghana Revenue Authority has assured that this will end by the close of June.

“We’ve told the charging entities to tell their customers that this is temporary. We wrote the letter to the charging entities that they should charge per wallet and per account. If you watch the approach we are using, we are riding on the back of the charging entities and we’ve already told them that this is a temporary endeavor that will end after June 30, so from July 1, all these multiple exemptions will end,” Mr Kobina Amoako said.



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