Author: citibusinessnews
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WTO Director-General calls for ratification of Fisheries Subsidies Agreement
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on member countries of the Organisation to fast-track the ratification of the Agreement on Fisheries Subsidies to check overfishing in the oceans. Speaking to about twenty-three journalists selected from developing countries in Geneva, Switzerland, Dr. Okonjo-Iweala bemoaned the ramifications of overfishing on…
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B5 Plus is an iconic testament of success of 1D1F initiative – K.T. Hammond
Minister of Trade and Industry, K.T. Hammond, has given the strongest indication that the Government’s flagship 1D1F Initiative is a success story, worthy of emulation by other countries aspiring to decentralize industrial development. Citing the case of B5 Plus Limited, he said the company has taken advantage of the Government’s initiative by investing in a…
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Ghana’s Complete Farmer, which connects farmers to global food buyers, raises $10.4M
Africa’s agricultural sector has a significant social and economic impact, per McKinsey. The percentage of smallholder farmers in sub-Saharan Africa exceeds 60%, while agriculture accounts for approximately 23% of the region’s gross domestic product. But despite the apparent opportunity in the agricultural sector, it is difficult for Africa to successfully participate in global supply chains…
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EOCO, WHO to tackle illicit tobacco trade
The Executive Director of the Economic and Organized Crime Office (EOCO) COP Maame Yaa Tiwaa Addo-Danquah (Mrs) has reiterated the commitment of her outfit to working with other bodies to ensure that laws governing the tobacco trade are complied with to the letter. She noted that the illicit tobacco trade poses a challenge as other…
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No more harassment of our members – GUTA warns GRA
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has warned the Ghana Revenue Authority (GRA) against using intimidating tactics to implement the Upfront Payment of the Value Added Tax (VAT). Addressing the media in Accra on Wednesday, Dr. Obeng said GUTA members will no longer tolerate the GRA’s “Rambo style”…
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BoG advised me to streamline Menzgold operations – NAM 1
Nana Appiah Mensah, the founder of the defunct Menzgold company, who is on trial for allegedly defrauding over 16,000 people of GH¢1.6 billion, has denied circumventing the laws of Ghana to operate an illegal gold deposit-taking business. His lawyer, Kwame Akuffo, told the High Court on Tuesday, September 19, that Appiah Mensah popularly known as…
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Suppress appetite for high-interest loans – ISSER cautions govt
The Institute of Statistical, Social and Economic Research (ISSER) has cautioned the Government to suppress its appetite for high-interest loans. Professor Peter Quartey, Director, ISSER, noted that Ghana’s ongoing US$3 billion loan-support programme with the International Monetary Fund (IMF) could soon position the country to access loans on the capital market. He said this in…
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First Nebraska -Ghana trade and investment program ends
The Nebraska-Ghana Trade and Investment Program and Husker Harvest Days event, which saw the participation of twenty two (22) Ghana Government officials and Private Businesses, has ended successfully in Lincoln, Nebraska. The event, held from 11th to 14th September 2023, under the theme – Facilitating Opportunities, has been described by participants as one of the…
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Ghana remains world’s largest borrower under our poverty loan facility – IMF
Ghana has still emerged as the country across the globe with the highest outstanding loan under the Poverty Reduction and Growth Trust (PRGT) at the International Monetary Fund (IMF). The Poverty Trust which is one of the funds countries can draw credit from is specifically to support the potential balance of payment problems of low-income…
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Govt, EU, FAO launch €10m project to address food security in Northern Region
The European Union (EU), the government and the Food and Agriculture Organization of the United Nations (FAO) have launched a 10 Million Euro project to support vulnerable populations grappling with food insecurity in Northern regions. In a joint statement issued by these groups, more than 50,000 people will benefit from the 3-year project. The project…