Meeting customers on their turf: Absa Bank MD breaks the mold 4
Thursday 20 Apirl 2023 Issue No.41
A N E W THINKING
Economy grows 3.1percent in 2022
Provisional estimates from the Ghana Statistical Service indicates that Ghana’s economy expanded by 3.1% in 2022, 0.6% lower than 3.7% forecast by the government. This is below Ghana’s average Gross Domestic Product (GDP) growth rate of 5.0% pre-Covid-19. It beat most analysts forecast as the African Development Bank in January 2023 had projected that Ghana’s economy grew by 3.6% in 2022. In 2021, post Covid-19, the economy grew by 0.9%. According to the GSS, Industry recorded a GDP growth rate of 0.9%. But the Manufacturing sub-sector (-2.5%), Electricity (-3.3%), Water and Sewerage (-4.9%) and Construction (-4.0%) sub-sectors contracted. In that sector, the Mining and Quarrying sub-sector recorded the highest year-on-year annual GDP growth rate of 8.1% for 2022. Also, the Agriculture sector expanded by 4.2% for 2022. The Fishing sub-sector recorded the highest year-on-year growth rate of 8.8 % in the agriculture sector, while the Forestry and Logging sub-sector recorded the lowest with a (1.7%). The Services sector recorded
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GRA cautions truck drivers against tampering with transit goods 2
Morgan Stanley net revenues hit US$14.5bn first quarter 2023 Morgan Stanley reports first quarter 2023 net revenues of $14.5 billion, net income of $3.0 billion, EPS of $1.70 and ROTCE of 16.9%.
Institutional Securities net revenues of $6.8 billion reflect strong performance in Equity and Fixed Income despite a less favorable
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Ghana’s mission in Italy welcomes Shirley Ayorkor Botchwey to Rome
Ghana’s Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, was welcomed to Rome by Ghana’s Ambassador to Italy, Merene Botsio Benyah, in a strategic diplomatic collaboration to showcase Ghana in Italy, with a focus on trade and investment. Speaking during the national day celebration to commemorate Gha-
na’s 66th independence at the Cavalieri Waldorf Astoria hotel in Rome, the Foreign Minister said the year 2022 was indelible in many ways, with the effects of the COVID-19 pandemic and the ongoing global economic challenges. She said these had inflicted various hardships globally, but the Govern3
The benefits and potential difficulties of ChatGPT as a business tool The
While ChatGPT has created something of an Artificial Intelligence (AI) storm in recent months, AI is anything but a new concept. In fact, businesses have been using it, to a greater or lesser degree, for decades now, whether to automate basic processes, analyse datasets, or deliver digital customer support. What ChatGPT has done, however, is raise awareness of the potential that AI has to add significant value to businesses of all shapes and sizes. Chief Information Officer at First National Bank, Samuel Dakurah explained that, as an AI language model trained to understand and respond to human language, ChatGPT has itself become a popular way for many businesses and employees to save time and improve efficiencies. “However, while there are
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