Author: Bobbie Osei
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Economist lauds BOG’s directives on forex importation and exportation
A financial economist Dr. Lord Mensah has welcomed the Bank of Ghana’s(BoG) directives on the importation and exportation of foreign currency in and out of Ghana. The Central Bank in a notice to the general public has warned of serious repercussions for any person arriving in or departing from Ghana with undeclared amounts in excess…
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BOG warns public of export and import of foreign currencies
The Bank of Ghana(BoG) has warned of severe consequences for persons who flout its rules concerning the importation and exportation of foreign currencies. In an announcement to the public, the central bank stated that it has powers under the Foreign Exchange Act, 2006 (ACT 723) to make rules governing the importation of foreign exchange and…
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Producer Price of cocoa cannot be increased now–COCOBOD to Minority
The Ghana Cocoa Board has chastised the minority for calling for an increase in the producer price of cocoa, saying COCOBOD has been vindicated for taking steps to maintain the producer price at GHC 7,600 per tonne despite cocoa prices’ bad performance on the international market in recent years. The comments follow a recent call…
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Minority opposes IMF’s calls to reduce producer price of cocoa
The Minority in Parliament has called on the government to ignore calls from the International Monetary Fund (IMF) to reduce the producer price of cocoa from the current GH¢7,600 per tonne. According to the IMF, it has become critical for government to reduce the producer price of cocoa to ensure that the Ghana Cocoa Board…
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GIPC challenges BoG, insists its FDI figures published are correct
The Ghana Investment Promotion Center (GIPC) has described the recent calls for an interrogation of its Foreign Direct Investment (FDI) figures as very unfortunate. This comes after some stakeholders including Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey as well as the Head of Research at the…
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Gold worth billions smuggled out of Africa–Report
Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa…
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Stakeholders want GIPC’s foreign direct inflows probed
Some stakeholders have called for an interrogation of the inflows from foreign direct investment reported by the Ghana Investment Promotion Center (GIPC). According to those raising issues with GIPC’s figures, the reported targets and actuals are somewhat misleading. GIPC for example set for itself a target of $10 billion dollars in foreign direct inflows for…
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Govt cautioned to maintain fiscal discipline to sustain Cedi stability
Majority of participants at the Graphic Business Stanbic Bank Breakfast Meeting have cautioned government to maintain fiscal discipline to help sustain the stability of the Cedi against other trading currencies, especially the US Dollar. According to them, there is the need to follow fiscal policies that will create room for a balanced trade market to…
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$23m AFT Fund to support bankable agriculture projects in Sub-Saharan Africa
The African Development Bank is confident a newly secured $ 23 Million grant under the Agriculture Fast Track Fund, will go a long way to improve some aspects of the Agriculture value chain in Ghana. The funds, which will benefit 17 new projects in 8 countries, is expected to be used for feasibility studies, market…
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Listing Soyabeans on Commodity Exchange to boost earnings of farmers – GCX boss
The Chief Executive Officer of the Ghana Commodity Exchange (GCX), Dr. Kadri Alfa is confident the listing of soyabeans on the Exchange will help turn around the fortunes of soybean farmers across the country. The commencement of trading of soybean on the Ghana Commodity Exchange brings to three the number of commodities being traded on…