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Author Archives: Lawrence Segbefia

Improve VRA’s books before going to GSE- Govt told

VRA-620x330

Government has been cautioned to first improve on the financial books of the Volta River Authority(VRA) before it is listed on the Ghana Stock Exchange(GSE). President Akufo-Addo on Tuesday during his maiden State of the Nation Address announced that government may list some state owned power companies on the bourse. The president further disclosed that the energy sector is indebted ...

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Missing IMF targets will kill investor confidence- Economist

Economist Dr. Lord Mensah

Some financial analysts are worried Ghana failed to meet nearly all the targets set by the International Monetary Fund(IMF) aimed at enhancing fiscal discipline and economic development. As part of the IMF Extended Credit Facility of 918 million dollars, the previous government was expected to cut expenditure while redirecting the country’s resources into the real sectors of the economic to ...

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Crystal Capital launches two mutual funds

E Fund

Investment banking firm, Crystal Capital and Investments limited has launched two mutual funds that will offer Ghanaians more investment opportunities to earn higher returns that will enable them plan appropriately towards their entrepreneurial and personal financial goals. The Mutual Funds; Crystal Entrepreneur Fund (eFund) and Crystal Wealth Fund (W-Fund) were launched at an Initial Public Offering inAccra . Speaking to ...

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No need for energy levy cuts due to US$ 2.4bn debt- IECP

Industry Electricity

Despite assurances from President Akufo Addo to grant some tax cuts in the power sector, the Institute of Energy and Climate Change Policy (IECP) has cautioned that any attempt to review the energy sector levy downwards may cause a power crisis due to the huge debts crippling the sector. President Akufo-Addo during his maiden State of the Nation Address disclosed ...

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We’ll cancel some power contracts if necessary – Nana Addo

Nana-Akufo-Addo-in Parliament-620x330

Government is set to conduct an audit of all Power Purchase Agreements (PPA) signed between the Electricity Company of Ghana(ECG) and Independent Power Producers(IPPs) under the erstwhile National Democratic Congress (NDC) government, President Nana Akufo-Addo has hinted. According to him, the erstwhile John Mahama government had signed 43 PPAs, while a further 23 were under discussion. Delivering his first State ...

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NDC govt missed all IMF targets in 2016- Prez. Akufo Addo

Nana-Akufo-Addo-in Parliament-620x330

President Nana Akufo-Addo has revealed that Ghana missed nearly all targets set for the country under  the International Monetary Fund(IMF) Extended Credit Facility program of US$918 million. According to him, government missed the targets due to financial and fiscal indiscipline in the management of the public funds. Delivering the State of the Nation Address in parliament, President Akufo-Addo blamed the ...

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COPEC discredits fuel price increase report

fuel

The Chamber of Petroleum Consumers(COPEC) has discredited reports that fuel prices will go up this week. The Institute of Energy Security (IES) predicted a 3 percent increase in fuel prices for the 2nd pricing window. Checks by Citi business News also indicates that fuel prices at Total and Shell fuel pumps have gone up as at yesterday. Total, which was ...

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Nana Addo delivers maiden State of the Nation Address today

Nana-Addo-1-300x200

President Nana Akufo-Addo will today, Tuesday, February 21, 2017, deliver his maiden state of the nation address before Parliament in accordance with Article 67 of the Constitution. His address will present an outlook of the state in various sectors of the economy, as inherited from the erstwhile National Democratic Congress (NDC) government led by John Mahama. President Akufo-Addo will be expected ...

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Ghana’s debt to GDP hits 74%- Ken Ofori Atta

Ken Ofori Atta - Finance Minister

As president Nana Akufo-Addo prepares to deliver the State of the Nation Address, Finance Minister Ken Ofori Atta has disclosed that Ghana debt as a percentage of GDP has hit 74 percent. By the third quarter of 2016, figures released by the Bank of Ghana showed that the country’s debt stock had reached GH¢112.4 billion representing 67.4 percent. It is ...

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AWA acquires new aircraft [photos]

AWA acquires new aircraft

Operators of domestic airlines, African World Airlines (AWA) have added a new aircrtaft to the companies exiting four planes. Launching the Embraer, ERJ145, at the Kotoka International Airport, the Founder of African World Airlines, Togbe Afede XIV stated that customers will have a new experience with the company.   By:Lawrence Segebfia/citibusinessnews.com/Ghana  

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