Author: Edna Agnes Boakye
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High inflation worsens food security, deepens poverty crisis in Ghana – World Bank report
Ghana is grappling with a severe inflation crisis that has unleashed devastating consequences on food security and poverty levels, according to the latest Ghana Economic Update released by the World Bank. The report shed light on the alarming surge in prices across all consumer categories, significantly impacting the living standards of Ghanaians, especially the poor.…
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Debt exchange on cocoa bills, dollar denominated bonds necessary for debt sustainability – Bokpin
Economist, Professor Godfred Bokpin says the initial Domestic Debt Exchange Programme (DDEP) fell short of expectations, prompting the government to revisit the restructuring of various components of the domestic debt. As part of the second round of the DDEP, the Ghana Cocoa Board (COCOBOD) is extending an invitation to investors who hold cocoa bills, the…
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June Inflation rises marginally to 42.5% from 42.2%
Inflation for the month of June 2023 in Ghana increased marginally to 42.5 percent compared to the 42.2 percent recorded in May 2023. According to the government Statistician, Professor Samuel Kobina Annim, the main drivers of this inflationary trend are food and non-food items, which account for 54.2% and 33.4% respectively. Locally produced items witnessed…
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Trade Fair management committed to make facility West Africa’s leading trading hub
The management team of the Ghana Trade Fair Company Limited is committed to converting the trade fair center into a leading trading hub in West Africa. Over the next five years, it aims to complete a project that will host the African Continental Free Trade Area (AFCTA) Secretariat as well as other top-notch facilities. The…
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ISSER calls for reclassification of Ghana’s affordable housing initiatives
The Institute of Statistical Social and Economic Research (ISSER) is urging for a reclassification of Ghana’s affordable housing initiatives to address the ongoing challenges faced by a significant portion of the population, particularly the average Ghanaian worker, in affording suitable properties. The Ministry of Works and Housing reported a housing deficit of approximately 2 million…
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Ghana seeks $2.5bn in external financing through debt restructuring
The Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has revealed that Ghana is set to undergo external debt restructuring, which is expected to provide financing of approximately $2.5 billion in the coming days. The announcement was made as the GIPC indicated that negotiations with key partners are nearing a…
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GIPC CEO highlights green investments as key to attracting global attention
In a recent Economic Counselors Dialogue, the CEO of the Ghana Investment Promotion Center, Yofi Grant shed light on the declining Foreign Direct Investment (FDI) landscape in Africa, emphasizing the need for strategic shifts towards green investments. Highlighting the World Investment Report, which unveiled Africa’s decline in FDI, the CEO emphasized that Ghana must seize…
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GIPC CEO urges enhanced public-private partnerships to propel economic growth
In a bid to promote sustainable finance, attract private investment, and drive the achievement of the Sustainable Development Goals (SDGs), the CEO of the Ghana Investment Promotion Centre (GIPC), Yofi Grant emphasized the importance of fostering strong public-private partnerships during the 2023 Economic Counselors Dialogue. Mr. Yofi Grant also emphasized the importance of fostering bilateral…
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Amin Adam announces gov’t’s plan to build 1000 electric charging stations by 2028
Ghana’s commitment to the development and implementation of an ambitious energy transition framework has taken center stage as Minister of State at the Finance Ministry, Mohammed Amin Adam, emphasized the importance of setting up electric charging stations to support the country’s electric vehicle revolution. Speaking at a conference on Climate Finance for Sustainable Transition in…
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Mines and Energy Committee to meet IPPs, others over energy debt
Samuel Atta Akyea, Chairman of the Mines and Energy Committee of Parliament, has said that his team is scheduled to hold a crunch meeting with sectors in the energy sector next week to address the concerns raised by Independent Power Producers (IPPs) regarding the significant outstanding debts that pose a threat to the stability of…