Author: Benjamin Aklama
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Development Bank Ghana set to diversify financial offerings by introducing equity fund alongside lending activities.
DBG’s Chief Executive Officer, K. Duker, unveiled the bank’s plans for this equity fund, aimed at expanding the range of financial products available to both institutions and borrowers at different stages of development. DBG, established in June 2022, has already disbursed GH¢731 million across various sectors, contributing to Ghana’s economic growth and development. Mr. Duker…
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A look into how business in Nigeria has fared since President Tinubu’s election
The performance of the business ecosystem in Nigeria, in 2023 is a subject of keen interest, as it plays a pivotal role in the country’s economic development and prosperity. Nigeria’s private sector, comprising of businesses ranging from small and medium-sized enterprises (SMEs) to large corporations, has faced numerous challenges in recent years, but none more…
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Access Bank registers a GH¢0.30 increase in its share price as the local stock exchange witnesses no declines
The trading session on Tuesday [10-10-2023] revealed that 350,940 shares, valued at GH¢1,033,744.81, changed hands in a highly active market. Leading the pack was GCB, emerging as the most traded stock on that particular day. Following closely, 35,840 shares of ETI were traded, with a combined value of GH¢5,376.00. The list of the top five…
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The effect of the Israel-Gaza conflict and national census ripples across SA’s economy
The South African currency fell on Monday as the unrest in the Middle East fueled risk aversion in global markets, and traders anticipated the outcome of the national census, which is due this week. At 1510 GMT, the rand was trading at 19.4100 per dollar, down 0.6% from its Friday close. “Trade in the rand…
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West Africa records growth despite coups and underperformance of its largest economies
Sub-Saharan Africa’s economic recovery is defined by certain subregions overperforming in comparison to the regional average and others underperforming. The World Bank relayed the aforementioned information in its Africa’s Pulse bi-annual report. The global lender identified how Africa is doing based on regional performance, which supports its evaluation. The report shows that while the Economic…
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Fertilizer stocks jump with Israel conflict stoking supply concerns
Fertilizer makers jumped after Hamas’ surprise attack on Israel raised concerns over how the conflict could impact global supplies of nutrients used to grow crucial food crops. Israel’s Port of Ashdod, just north of Gaza and a key hub for the country’s potash fertilizer exports, is in emergency mode amid the deadly conflict. That’s putting…
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Full-Scale Emergency Simulation Exercise Set to Test Response Capacity at Kotoka International Airport
A comprehensive emergency simulation exercise, named ‘Operation Ogboole 2023,’ is scheduled to take place at Kotoka International Airport (KIA) on Thursday, October 12, 2023, from 0800 to 1200 noon. This exercise, designed to simulate a mass casualty evacuation following an airplane crash into the sea off the Osu landing beach, is being conducted in collaboration…
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Government Exceeds Auction Target by GHS 466m, Pushing 364-day Bill Yields to 33%
In the latest auction of treasury bills with maturities of 91, 182, and 364 days, the Government of Ghana has exceeded its initial target of raising GHS 2.10 billion. During the auction of these short-term securities, the Government surpassed its target by a notable GHS 466 million, successfully raising GHS 2.57 billion from the debt…
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Finance Minister Announces Successful First Review of IMF-Supported Program for Economic Growth
In a joint press conference with the International Monetary Fund (IMF), Ghana’s Minister for Finance, Hon. Ken Ofori-Atta, declared the successful conclusion of the first review of the IMF-supported post-COVID-19 program for economic growth. The program, which commenced on May 17, 2023, was approved as a 36-month IMF program under a $3 billion Extended Credit…
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IMF Reaches Staff-Level Agreement on Economic Policies and Reforms with Ghana
The International Monetary Fund (IMF) staff, led by Mr. Stéphane Roudet, Mission Chief for Ghana, has successfully reached a staff-level agreement with Ghanaian authorities. This is a step towards concluding the first review of Ghana’s 36-month Extended Credit Facility (ECF)-supported program. The performance in meeting the program’s targets and reform objectives, according to IMF staff,…