Author: Benjamin Aklama
-
Twitter users have voted in favor of Elon Musk giving up his leadership of Twitter
On Sunday, Musk posted a yes-or-no poll on Twitter asking whether he should step down as the company’s head. When it closed Monday morning, 17.5 million accounts had voted, with 57.5% — about 10 million — in favor of him stepping down. Shortly after the poll closed, Tesla stock was up nearly 5% in premarket trading. Musk…
-
Vehicle users not changing worn out tyres due to high cost
Some dealers in vehicle tyres and vulcanisers have expressed worry about high import duties on new tyres. According to them, the high import duties have made it impossible for them to acquire materials for their work. ‘Rim 14 car tyre’ increased from GHȻ 70 to GHȻ 150 The dealers in the tyre industry indicated that…
-
Domestic debt exchange programme expiration date extended
The expiration date for the Domestic Debt Exchange Programme has been extended to December 30, 2022, the Ministry of Finance has announced. In a press statement issued last Friday (December 16, 2022), the ministry explained that over the last ten days, it continued the consultation efforts that was initiated with all stakeholders ahead of the launching…
-
President tasks NLA to flush out minors from gaming and betting space
President Nana Addo Dankwa Akufo -Addo has tasked the National Lottery Authority (NLA) to implement stringent policies on responsible gaming, chiefly to prevent minors and under age persons from patronising games and to help sanitize the lottery and betting space. Furthermore, he directed the Authority to exercise the highest form of integrity and transparency in…
-
Dr Sarkodie urges focus on growing GDP to generate more tax revenue
An Economist with the Economics Department of the University of Ghana, Dr Adu Owusu Sarkodie, has advised government to focus attention on growing the nation’s gross domestic product (GDP), if it wants to grow tax revenue. He said that for a middle-income country such as Ghana, the annual tax revenue projection should be about 2.5…
-
Offload non-performing SOEs to private sector — Dr Sam Ankrah
The time has come for the government to offload non-performing State-Owned Enterprises (SOEs) which continue to be a drain on state coffers or are consistently unable to pay dividends, a Development Economist, Dr Sam Ankrah, has proposed. He mentioned for instance the Tema Oil Refinery (TOR), State Housing Company among many others which had to…
-
Develop national strategy for soyabean — Industry actors
ACTORS in the soya value chain have called for a collaborative approach to develop a national strategy that can transform soyabean into a profitable cash crop such as cocoa. That, they said, would empower the government to use the commodity to access syndicated loans in order to accelerate the development of the value chain. Instead…
-
Economic enclave project promises 195,000 agric jobs — Ofori- Atta
The launch of the Economic Enclave Project (EEP) to cultivate 110,000 acres of land in seven regions sets the tone for a new journey of youth engagement in commercial agriculture. Under the programme, government will provide support such as clearing and development of land and facilitate access to credit, including the recently approved GH₵500 million…
-
Financial sector gets GH₵15bn to address liquidity under Debt Exchange Program
The size of Ghana Financial Stability Fund (GFSF) being established by government with the support of development partners is worth GH₵15 billion. Encouraging full participation of financial institutions This is to support and encourage full participation of financial institutions in the voluntary debt exchange programme. GH₵137bn notes and bonds The Fund will provide liquidity to…
-
Togbe Afede writes: Our Self-inflicted monumental economic crisis
About six weeks ago I was in New York, and for the first time in almost three decades, I struggled to sell the economic credentials of my country. When we were approaching the runway at Kotoka International Airport, at the end of my return journey, I looked outside from my window seat, and my joy about…