Author: Benjamin Aklama
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Ghana: African Development Fund approves $27.9 million grant for Savannah Agriculture Value Chain Development Project (SADP)
The Board of Directors of the African Development Fund has approved a $27.9 million grant to Ghana for the development of agricultural value chains in the Savannah region. The grant will increase the climate-resilient production of maize, rice and soybean, support the poultry value chain, and generate employment for women and youth. It will increase…
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Malagasy delegation completes tour of Ghanaian Fintechs and MFIs
The Ghana Fintech and Payments Association hosted an eight (8) Member Delegation of Chief Executives from the Association Professionnelle Des Institutions De Microfinance (APIMF) of Madagascar on a 6-day working visit to Ghana. The Team was led by their Secrétaire-Général, Fanjaharivola Rakotomaharo, and the Head of the Ministry of Finance’s Center for Financial Inclusion, Nivoarizay…
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Twitter staff in Ghana are rejecting Elon Musk’s lay-off package
About a dozen Twitter staff based in Ghana, which was the firm’s only office in Africa, have rejected a severance package offered to them and are now considering taking legal action. The staff’s legal firm has told the BBC that Twitter wants to negotiate the severance package and termination process, but it did not provide details…
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BoG withdraws FX support for imports of rice, toothpicks, others
The Bank of Ghana has revealed that it will no longer provide FX support for some food items imported into the country. Some of the items include rice, vegetable oil, toothpicks, pasta, fruit juice, bottled water, ceramics and tiles. A message from the Central Bank to banks stated that: “in accordance with the president’s directive,…
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GSE tightens rules on green bonds
The Ghana Stock Exchange (GSE), in collaboration with the Securities and Exchange Commission (SEC), has launched new rules to guide the listing and trading of green and sustainable bonds on the market. Dubbed the Green and Sustainable Bond Rules, the launch of the new guidelines formed part of activities to mark the 32nd anniversary of…
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Producer Price Inflation rises sharply — Now at 65.25% in October
THE Producer Price Inflation (PPI) which measures the average change over time in the selling prices of goods and services as received by domestic producers shot up to 65.2 per cent in October. This was up from the 45.6 per cent recorded in September and clearly signals what is to be expected of consumer inflation…
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Horticulture exporters urged to scale up production
Horticulture exporters have been challenged to take advantage of the looming shortage of fruits and vegetables in Europe as a result of the raging Russia-Ukraine war to maximise their gains. The Country Manager of the multi-national airport handling company, Swissport, Chris Goodsir, who made the call, explained that the war was creating an energy shortage…
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Trade bodies advocate policy on profit retention by foreigners
Trade bodies in the country have called for what they describe as “a profit retention policy” to regulate how much profit foreign investors repatriate to their home countries. That, they believe, is one of the measures that is needed to be taken to stabilize the cedi against the major foreign trading currencies while re-energizing the…
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Telcos contribute GH¢4.3bn in taxes
THE telecommunication industry contributed GH¢4.3 billion in taxes to the economy last year. The amount represented 7.7 per cent of government revenue for the period in review. Players in the sector also created 6,100 direct jobs and 1.2 million indirect jobs last year, bringing to the fore the critical role of telecommunications in bridging the…
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Banks urged to leverage economic crisis
The current global economic crisis presents banks the opportunity to innovate, accelerate and deepen their much needed transformation, Finance and Strategy Consultant, Professor Noel Tagoe, has said. He said while crisis destroyed bad companies, good companies survived them, and great companies were improved by them. At the 26th annual banking conference organised by the Chartered…