Author: Benjamin Aklama
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Ghana EXIM bank CEO hosts US embassy team
The Chief Executive Officer of the Ghana Export – Import Bank (GEXIM), Lawrence Agyinsam, on Thursday, 18th August 2022, hosted a team from the United States of America Embassy in Ghana, led by the Commercial Counsellor, Dean Matlack. The meeting was held at the head office of GEXIM in Accra and afforded the Bank…
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Minority, business community react to Ken Ofori Atta’s Midyear budget review
After the Presentation of the Midyear budget review by the Finance minister, Ken Ofori Atta, in parliament yesterday, the minority in parliament and members of the business community have been reacting to portions of the captured policies. This comes at a time when the government is making efforts to get the economy back on track…
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Uganda, Botswana and Ghana are the world’s top 3 economies with the most female entrepreneurs
The 2021 Mastercard Index of Women Entrepreneurs (MIWE) has, for the third consecutive year, ranked Botswana (38.5%), Uganda (38.4%) and Ghana (37.2%) as the countries with the most women business owners globally. The Index’s benchmark indicator is calculated as a percentage of total business owners. This is the fifth edition of the MIWE, which puts…
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Oil futures have slid below $100 as investors brace for recession
Underneath a chaotic global energy market is a dislocation between oil prices on the futures and physical market that appears to have emerged. Oil futures have undergone immense battering recently as fears of a recession come into full force. The global benchmark Brent crude fell below $100 earlier this week, heading for its 5th straight weekly loss and…
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Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns
The International Monetary Fund has warned of “economic collapse” in many African economies as the impact of the Russian-Ukraine war has worsened with commodity price shocks and increased cost of living for hundreds of millions of people. According to IMF Managing Director Kristalina Georgieva, inflation is now higher than expected. It has broadened beyond food…
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African countries that could follow Sri Lanka into economic chaos
The economic crisis in Sri Lanka is not limited to the South Asian nation. From Europe to Asia to Africa, many emerging economies are slipping into chaos, and here’s what experts predict will happen next. Sri Lanka’s worst economic crisis since it gained independence threatens to spread across the developing nations, triggering what experts have…
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IMF’s Country rep defends mixed assessment of Ghana economy in July 2021
The International Monetary Fund’s Resident Representative to Ghana, Dr. Albert Touna-Mama, defended his outfit’s mixed assessment of Ghana’s economy during the July 2021 Article IV consultations, which said Ghana’s economic outlook was improving. Speaking on the Citi Breakfast Show, Dr. Touna-Mama, explained that the assessment that preceded the dire economic downturn in Ghana was based on…
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PayAngel joins Microsoft for Startups Founders Hub
Leading African payment solutions and remittance platform, PayAngel has joined the Microsoft for Startups Founders Hub, dedicated to helping early-stage startups leapfrog the barriers of business creation and grow faster than usual. The Microsoft for Startups Founders Hub is a new digital and all-inclusive platform that offers enhanced benefits and credits, and also gives startups…
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‘IMF support will help revive our economy’ – Akufo-Addo
President Nana Akufo-Addo is confident the International Monetary Fund support government is seeking will help restore macroeconomic stability and revive the distressed economy. Nana Akufo-Addo says many countries across the world are suffering from an economic meltdown. Speaking at the swearing-in of some new Ambassadors and High Commissioners at the Jubilee House, Nana Akufo-Addo said…
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Revocation of UniCredit’s license unlawful – Court of Appeal rules
The Court of Appeal has overturned the Bank of Ghana’s decision to revoke the license of UniCredit Ghana Limited. The appellate Court describes the Central Bank’s decision as an unlawful exercise of its powers. The three-member Court, with Justice Gbiel Suurbaare as President, was unanimous in its decision on Thursday to quash the BoG’s revocation…