No Result
View All Result
Saturday, December 9, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana Airports Company (GACL) Earns Top Honor as ‘Most Profitable’ State-Owned Enterprise at PELT Awards 2022

    IMF: Ghana has fulfilled obligations, awaiting creditor action on debt restructuring

    IMF, World Bank work to accelerate debt treatment for Ghana, others under G20

    Zambia advises Ghana to have restrictive laws on debt accumulation 

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    2024 budget: Government commits to more expenditure cuts, aggressive growth, jobs

    Customer Service Week: Pan-African Savings and Loans provides medical services to clients

    Former Capital Bank CEO Ato Essien jailed 15 years

    NPA sanctions seven OMCs for illicit fuel distribution

    Gold Coast Fund Management Company customers begin day 2 of protest at Finance Ministry

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Zenith Bank @ 18 – Celebrating a legacy of financial excellence

    Former Capital Bank CEO Ato Essien jailed 15 years

    IMF clarifies Ghana’s growth rate projection

    NPA sanctions seven OMCs for illicit fuel distribution

    Gold Coast Fund Management Company customers begin day 2 of protest at Finance Ministry

    IMF awaits Ghana’s agreement with bilateral creditors before releasing next tranche of $3bn bailout

    Development Bank Ghana set to diversify financial offerings by introducing equity fund alongside lending activities.

    Access Bank registers a GH¢0.30 increase in its share price as the local stock exchange witnesses no declines

    Ghana’s 3% economic growth an indication of a resilient economy – IMF Mission Chief

  • TECHNOLOGY

    Ghana loses GHS 49.5 million to cyber fraud in nine months

    Nigeria aims for $5 billion tech investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    A look into how business in Nigeria has fared since President Tinubu’s election

    The effect of the Israel-Gaza conflict and national census ripples across SA’s economy

    West Africa records growth despite coups and underperformance of its largest economies

    World Bank projects Africa’s economy to slow down to 2.5%

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria aims for $5 billion tech investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana Airports Company (GACL) Earns Top Honor as ‘Most Profitable’ State-Owned Enterprise at PELT Awards 2022

    IMF: Ghana has fulfilled obligations, awaiting creditor action on debt restructuring

    IMF, World Bank work to accelerate debt treatment for Ghana, others under G20

    Zambia advises Ghana to have restrictive laws on debt accumulation 

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    2024 budget: Government commits to more expenditure cuts, aggressive growth, jobs

    Customer Service Week: Pan-African Savings and Loans provides medical services to clients

    Former Capital Bank CEO Ato Essien jailed 15 years

    NPA sanctions seven OMCs for illicit fuel distribution

    Gold Coast Fund Management Company customers begin day 2 of protest at Finance Ministry

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Zenith Bank @ 18 – Celebrating a legacy of financial excellence

    Former Capital Bank CEO Ato Essien jailed 15 years

    IMF clarifies Ghana’s growth rate projection

    NPA sanctions seven OMCs for illicit fuel distribution

    Gold Coast Fund Management Company customers begin day 2 of protest at Finance Ministry

    IMF awaits Ghana’s agreement with bilateral creditors before releasing next tranche of $3bn bailout

    Development Bank Ghana set to diversify financial offerings by introducing equity fund alongside lending activities.

    Access Bank registers a GH¢0.30 increase in its share price as the local stock exchange witnesses no declines

    Ghana’s 3% economic growth an indication of a resilient economy – IMF Mission Chief

  • TECHNOLOGY

    Ghana loses GHS 49.5 million to cyber fraud in nine months

    Nigeria aims for $5 billion tech investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    A look into how business in Nigeria has fared since President Tinubu’s election

    The effect of the Israel-Gaza conflict and national census ripples across SA’s economy

    West Africa records growth despite coups and underperformance of its largest economies

    World Bank projects Africa’s economy to slow down to 2.5%

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria aims for $5 billion tech investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Ghana considers joining Asian bank

bycitibusinessnews
May 12, 2015
in Banking And Finance, Business, Top Stories
Trade Minister, Dr Ekow Spio Gabrah

Trade Minister, Dr Ekow Spio Gabrah

Share on FacebookShare on TwitterShare on Whatsapp

The Minister of Trade and Industry Dr. Ekow Spio – Garbrah has told Citi Business News that Ghana may consider joining the Asian Infrastructure Investment Bank (AIIB) set up by the Chinese government.

[contextly_sidebar id=”jtQiCCqXkBrugQAV0HeyGwnoqhMZqknL”]According to the Trade Minister conditions and opportunities for the AIIB may be better and flexible than that of Bretton Woods Institutions like the International Monetary Fund (IMF).

China has attracted some 57 countries including Britain, Sweden, Portugal, Sweden and Saudi Arabia to join the AIIB for development projects.

ADVERTISEMENT

But the USA has criticized certain aspects of the project and distanced itself.

Though some economists have cautioned government not to be in a hast to join the AIIB Minister of Trade and Industry Dr. Ekow Spio Gabarah in an interview with Citi Business News said there is some merits and benefits in the government joining the Asian Bank.

“Well I haven’t seen the details of what the bank will do and what projects it will fund and how much the bank’s lending portfolio will be for Africa and what kind of interest rate it will be. Generally speaking going by what experience Ghana has by being a member of a number of international financial institutions such as the World bank group or the African development bank, both of which I have had the privilege of working for, I think there is some merit in considering joining such a development bank as the Asian bank which is expected not to have the same kind of conditionality’s that have applied to lending from the Western world.”

The Trade and Industry Minister Dr. Ekow Spio Gabarah believes that the Chinese does not have the kind of rigidity that the World bank and the IMF come with when they give support to African countries.

Meanwhile Dr. Ekow Spio-Garbrah who admitted that Ghana has over borrowed resulting in the IMF programme said Ghana joining the Asian Bank should attract private Asian equity especially in agro processing to expand the economy.

The Asian bank was proposed by China in 2013 and launched at a ceremony in Beijing in October 2014.

It is expected to have its Articles of Agreement (AOA) finalized and opened for signature by Prospective Founding Members (PFM) which currently stands at 57 countries from June 2015.
–
By: Norvan Acquah – Hayford/citifmonline.com/Ghana

Related Posts

Top Stories

IMF: Ghana has fulfilled obligations, awaiting creditor action on debt restructuring

bycitibusinessnews

The Director of the African Department at the International Monetary Fund (IMF), Abebe Aemro Selassie, has confirmed that Ghana has...

Read more

IMF, World Bank work to accelerate debt treatment for Ghana, others under G20

Zambia advises Ghana to have restrictive laws on debt accumulation 

Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

2024 budget: Government commits to more expenditure cuts, aggressive growth, jobs

Zenith Bank @ 18 – Celebrating a legacy of financial excellence

Former Capital Bank CEO Ato Essien jailed 15 years

IMF clarifies Ghana’s growth rate projection

Next Post

Banks must stop buying T Bills -ISSER

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.