Author: Emmanuel Oppong
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Govt supporting efforts to make TOR best refiner in Africa – NAPO
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production. According to the sector minister, any positive gains recorded by the state-owned refinery would help cushion the government in its operations. Speaking at the 2nd Annual General Meeting of…
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Restore GN Savings and Loans license – Former staff urges govt
A group calling itself concerned former employees of defunct GN Savings and Loans Limited is appealing to the Akufo-Addo government to restore the bank’s license to complement efforts in creating sustainable jobs. GN Bank which was under the Groupe Nduom brand lost its operational license after it was reclassified as a Savings and Loans firm…
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Teenpreneurs encouraged to explore innovative ideas towards building resilient future
Young entrepreneurs are being encouraged to explore innovative ways to build their competencies geared towards accelerating economic development. According to the Executive Director of the Springboard Show Foundation, Comfort Ocran providing more support for young people to develop new skills will help bridge the gap between academia and industry. Speaking on the sidelines of the…
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Ghanaians to pay more for rice as imports face 40% reduction
Consumers of rice may in the coming days pay more for the grains as importers of rice are projected to face about 40 percent reduction in imports. This is according to the Competitive Africa Rice Platform. It comes on the back of India’s decision that it would restrict exports of non-basmati rice to calm domestic…
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T-bills auction: Government records 15.3% oversubscription
The Government of Ghana’s T-bill offer across 91-day to 364-day bills was oversubscribed by approximately 15.3% relative to the target size of GHS 3.065 million at last week’s auction. The offer attracted total bids estimated at GHS3.54 billion, with the Treasury accepting 99.21% of the bids valued at GHS3.51 billion. According to figures from the…
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About 2000 youth to benefit from garment and apparel module by YEA
Government has revealed that about 2000 youth are set to benefit from the phase one of the Garment and Apparel Module being rolled out by the Youth Employment Agency (YEA). This, government maintains will contribute to sustainable jobs geared towards reducing the high unemployment rate in the country. Speaking at the launch of the new…
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AfDB projects inflation to remain above 44.7 percent until 2024
The African Development Bank (AfDB) is projecting that Ghana’s inflation rate will anchor at 44.7 percent for year ending 2023. According to the AfDB, interest rate is also to remain above 25%. This projection is coming on the back of a three-month continuous increase in inflation to 43.1% in July 2023. This projection is contained…
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ADB records GHS 371m loss in 2022 but steadily picking up as H1 profit hits GHS 52m
Despite the impact of the Domestic Debt Exchange Programme on the banking sector which has caused the Agricultural Development Bank (ADB) Plc to lose over GHS 370 million in the 2022 financial year, ADB is making strides in its profitability for the first half of 2023. For the first half of 2023, the bank has…
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COCOBOD extends deadline for debt exchange to August 18
The Ghana Cocoa Board (COCOBOD) has once again revised the deadline for its debt exchange programme to Friday August 18 from the initial announcement of August 3, 2023. The new announcement date has also been revised to Monday, August 21, 2023 while the settlement date now shifted to August 25. On July 14, the Ghana…
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Govt misses T-bills target marginally by 3.6%
The government’s treasury bills target of GHS 2.262 billion fell short of about 3.6 percent. The Bank of Ghana results show that the government secured GHS 2.179 billion as against a target of GHS 2.261 billion. This 3.6 percent decrease in target does not directly impact strong investor demand as interest rates continued to surge…