Author: citibusinessnews
-
We’ll keenly monitor every step in ‘Gold4Oil’ chain – Opoku Prempeh assures
Energy Minister, Dr Matthew Opoku Prempeh has assured that his ministry will keenly monitor every step in the Gold for Oil programme value chain from the ship that brings the oil, through delivery to the BDCs, to the OMCs and to the pumps. This, according to Dr Opoku Prempeh will ensure that the purposes for…
-
Men in public sector earn more salaries than women – GSS report
Men working in the public sector earn higher salaries than women in the same sector. This was contained in a report released by the Ghana Statistical Service (GSS) themed “Ghana 2022 earnings: Inequality in the public sector”. GSS in the report disclosed that men have a higher average monthly net salary of GH₵2,669 as against…
-
Successful DDEP will build momentum for external debt restructuring – Ofori-Atta
The Minister for Finance, Ken Ofori-Atta is confident that the successful implementation of the Domestic Debt Exchange Programme (DDEP) will build momentum for the country’s external debt restructuring programme. In an address to Parliament on Thursday, February 16, 2023, the Minister stated that the completion of the DDEP, which was aimed at alleviating the country’s…
-
AIDEC opens centre to give practical knowledge on artificial intelligence
AIDEC Consultancies International Ltd (AIDEC Digital) has opened an ultra-modern Artificial Intelligence (AI) Centre of Excellence to provide both in-person and virtual training, educational programmes and consulting services on AI. The services will be provided to organizations, and institutions in the private, public, and third sectors, giving practical knowledge in areas of AI and its…
-
All pensioners who didn’t participate in DDEP exempted – Ofori-Atta
Pensioner bondholders who did not sign onto the Domestic Debt Exchange Programme have been officially exempted from the programme. The Finance Minister, Ken Ofori Atta disclosed this in Parliament while addressing the house on the state of the Domestic Debt Exchange Programme. “Government remains committed to the wellbeing of our senior citizens. It has caused…
-
Ghana’s inflation for January 2023 drops marginally to hit 53.6%
The year-on-year inflation rate for January 2023 has dropped marginally to 53.6%, from the 54.1% recorded in December 2022. This is according to latest data from the Ghana Statistical Service. This is the first time in the last 19 months that there has been a reversal of the rate of increase for the year-on-year inflation.…
-
Analysts raise doubts over govt’s 85% participation rate in DDEP
Barely 24 hours after the government announced that it has achieved approximately 85 percent success rate in the Domestic Debt Exchange Programme, some watchers of the space have raised doubts over the government’s claim. During the launch of the Domestic Debt Exchange Programme in December 2022, the Minister of Finance, Mr Ken Ofori-Atta, said holders…
-
Fitch downgrades Ghana’s creditworthiness to ‘Restricted Default’ from ‘C’
International rating agency, Fitch, has further downgraded Ghana’s Long-Term creditworthiness to Restricted Default (RD) from ‘C’. The issue ratings on local-currency bonds issued domestically have also been downgraded to Default (D) from ‘C’. In a statement, Fitch also affirmed Ghana’s Long-Term Foreign Currency (FC) IDR at ‘C’. Fitch typically does not assign Rating Outlooks to…
-
Cyber Security Authority commences licensing and accreditation regime
The Cyber Security Authority (CSA) has announced the commencement of the process of licensing Cybersecurity Service Providers (CSPs), accreditation of Cybersecurity Establishments (CEs) and Cybersecurity Professionals (CPs). This is in pursuant to the Cybersecurity Act, 2020 (Act 1038), sections 4(k), 49, 50, 51, 57 and 59, which mandates the Authority to regulate the above activities.…
-
Govt swaps over GH₵82bn bonds for new ones under DDEP
The Ministry of Finance has revealed that it has successfully swapped GH₵82,994,510,128 worth of old bonds from a possible GH₵ 97,749,624,691 under the domestic debt exchange programme. The amount represents an 84.91% success rate exceeding the Finance Ministry’s intended target of an 80 percent participation rate. Meanwhile, the government has extended the settlement date for…