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Author Archives: Lawrence Segbefia

CEO of Ghana Gas quits

George Sipa Yankey

Dr. George Sipa-Adjah Yankey, CEO of the Ghana National Gas Company (Ghana Gas), is set to proceed on terminal leave, a press release has stated. According to the statement, “the Board of the Company last week approved a request by the CEO to proceed on terminal leave, effective February 1, 2017, and terminating in May 2017”. Corporate Communications Manager of ...

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1-district, 1-factory to be aided by $1m constituency cash

factory

Minister nominee for Trade and Industry, Alan John Kyerematen has stated that government’s promise of one district one factory will be partly financed by the one million dollars per constituency promise. The government during the December 2016 electioneering campaign promised to build one factory per district in the country while it gives one million dollars to every constituency in the ...

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BoG maintains Policy rate at 25.5%

Dr. Abdul Nashir Issahaku - BoG Governor

The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate for the first time this year at 25.5 percent. The  policy rate, which is the rate at which the central bank lends money to commercial banks was last reduced  in November 2016 from 26 percent by 50 basis point to 25.5 percent— due to inflation ...

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Gov’t to provide capital for businesses

Alan Kyerematen

Minister Nominee for Trade and Industry, Alan John Kyerematen  has assured that government will facilitate access to medium and long term capital as a key way to enhance the private sector. Speaking at the Appointments Committee of parliament, Mr. Kyerematen maintained that providing capital is key to realizing the One-District- One-Factory pledge made by the government during the electioneering campaign. ...

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Adequate information given on gas cut from Jubilee

The FPSO JEA MIlls

The Ghana Gas Company has stated that adequate information has been dispatched to appropriate authorities to help plan for alternative gas supply in powering the nation’s thermal plants to avert a power crisis. This follows announcement by Tullow Ghana Limited, operators of the Jubilee oil and gas field to commence a 15-day shutdown from February 3, 2017. The shutdown is ...

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We’ll review zero financing from BoG when we meet IMF- Osafo-Maafo

Osafo-Maafo pix

The Senior Minister nominee Yaw Osafo-Maafo has stated that the government will make some recommendations on the conditionality from the International Monetary Fund(IMF) demanding zero financing from the central government. According to him, the IMF agreement did not go before parliament hence does not have any legal binding on government. Mr. Osafo-Maafo hinted that the government may access financing from ...

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Labadi Beach Hotel wins best 5-star hotel for 2016

hotel pic 2

Labadi Beach Hotel has emerged as the 5-Star Hotel of the year at the second edition of the Annual Ghana Hotels Awards 2016 in Accra. The programme which was held at the Kempinski Hotel over the weekend also saw Accra City Hotel take home the 4 Star Hotel of the year award. This was followed by Anita Hotel, which was ...

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Cut number of banks from 33 to 15- Analyst to BoG

bank of ghana

Some business and financial analysts have begun expressing worry over the growing number of banks in the country. There are currently about 33 banks operating in the country with the number expected to increase as more financial institutions line up to receive licenses from the Bank of Ghana. Proponents for a cap on the number of banks in the country ...

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Gold output up by 2.3% in 3rd quarter of 2016- Minerals Commission

File Photo

Contrary to reports that gold output fell by 7 percent by the third quarter of  2016, the Minerals Commission has disclosed that gold output rather went up by over 2 percent in the same period. Earlier reports suggested that the production of gold went down by 7 percent to 1.9 million ounces by the third quarter of 2016 compared to ...

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BoG to issue new GHS5 notes on March 4

File photo

The Second Deputy Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama has disclosed that the central bank will unveil new banknote in five-cedi (GH¢5) denominations. According to him, the banknote will be legal tender as well as a collector’s item. “The note will have new durable security features which can be easily identified by the public as well ...

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