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Author Archives: Pius Amihere Blay

Prez Akufo Addo pledges commitment to address Importers’ needs

importers picture

President Akufo-Addo has promised to resolve all challenges confronting Importers and Exporters in Ghana. The president made this statement when the Importers and Exporters Association paid a courtesy call on him at the flagstaff house in Accra. The Importers and Exporters had earlier made numerous calls on government to reduce most especially the numerous taxes at the ports. The Association’s ...

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FDI drops by over 80% in 2016 third quarter

Mrs Mawuena Trebarh, CEO-GIPC

Foreign Direct Investments decreased by 83.33 percent for the third quarter of 2016, figures from the Ghana Investment Promotion Centre (GIPC) has shown. The FDIs dropped from 1.45 billion dollars in the second quarter of 2016 compared to the 241.17 million dollars for the third quarter of the same year. Similarly, the total initial capital transfers for the newly registered projects ...

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Inaccurate data from BoG, Finance Ministry affecting gov’t work – Osafo-Maafo

Yaw Osafo-Maafo-620x330

Senior Minister Nominee, Yaw Osafo-Maafo has disclosed that the lack of accurate data on Ghana’s debt has made it difficult for the NPP government to make projections on the fiscal gap to influence planning. According to him, the inconsistency of data from the Ministry of Finance and the Bank of Ghana on the debt owed by government impedes government’s decision ...

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I will stop Ghana’s $ 4 bn loss to corruption – Ken Ofori Atta

Ken Ofori Atta - Finance Minister Nominee

Confronting the 4 billion dollars loss to corruption should create enough buffers to meet the infrastructure development agenda of the NPP government, Finance Minister Nominee, Ken Ofori Atta has said. According to him, reducing the high incidences of corruption if not eradicating the canker completely should assist government address the infrastructure deficit facing the country. Mr. Ofori Atta made the ...

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Ghana crosses deadly 70% mark with ¢120 bn debt


Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016 to the current figure. By ...

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Ethiopian to Open Seven New Destinations


Ethiopian Airlines, Africa’s largest airline group, announces that it will launch seven new destinations in five months time. This is one of the greatest expansions in Ethiopian’s long and illustrious history. In a press release, Ethiopian said it would launch new service to Victoria Falls (Zimbabwe), Antananarivo (Madagascar), Conakry (Guinea), Oslo (Norway), Chengdu (China), Jakarta (Indonesia) and Singapore (Singapore) starting ...

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Kenya: Emirates to Launch 3rd Daily Flight to Nairobi


Emirates has announced that it will introduce a third daily flight between Dubai and Kenya’s capital from 1st June 2017. The additional flight will increase the number of scheduled Emirates flights between the two cities to 21 a week and give customers greater flexibility and choice when planning their travel. Emirates says the Nairobi route has grown to become one ...

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Nigeria: Naira Defies Liquidity Boost, Depreciates Further Against Dollar


The Naira on Thursday remained indifferent to the sale of over $250 million to licensed Bureau De Change (BDC) operators nationwide as it suffered another loss against the dollar. The News Agency of Nigeria (NAN) reports that the Naira inched against the dollar at the early hours of Thursday morning by 2 points but could not sustain the gain as ...

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Paying BDC debts will give us respite – OMCs


Oil Marketing Companies (OMCs) have expressed confidence in the new administration to complete the payments of the BDC debt. According to them, adequate structures have been put in place, for the payment of the debt without any undue delays. The prompt payment of the debts is expected to among other things facilitate the purchase of fuel products for onward supply ...

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Three reasons S.A’s Reserve Bank may keep interest rates unchanged


On 23 and 24 January, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) will meet for the first time in 2017 to agree on a monetary policy stance that will coax consumer inflation back into the target range of 3% to 6%. In view of current economic conditions and expectations for 2017 and beyond, the Reserve ...

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