Author: Lawrence Segbefia
-
NEDCo loses 54.1 million dollars in Power Compact Two funds
The Northern Electricity Distribution Company (NEDCo) has lost an opportunity to benefit from a 54.1 million dollars fund under the Millennium Power Compact Two programme. The fund was expected to be used for NEDCo’s Financial and Operational Turnaround Project to make the electricity distribution company effective in the north. A press statement from the Ministry…
-
Article: Understanding the liquidity challenge in Ghana’s power sector
Power as Economic Driver Ghana currently boast of over 4,300 Megawatts (MW) of Installed Generation Capacity from largely hydroelectric and thermal sources, with 1,366 MW other committed thermal projects expected to come on stream in the next five years, according to 2018 Integrated Power Sector Master Plan (IPSMP). Net Dependable Capacity exceeds 3,900 MW, and Peak…
-
Govt establishes Tree Crop Dev’t Authority to boost export of timber
Government has announced the establishment of a Tree Crop Development Authority to regulate the production and sale of tree crops in the country. The Authority will enact policies to streamline the activities of farmers in the tree crop sector. The establishment of the authority follows the launch of the Planting for Exports and Rural Development (PERD),…
-
Planting for Export and Rural Development will stabilize economy – Nana Addo
President Nana Akufo-Addo says the Planting for Export and Rural Development (PERD) will play a key role in stabilizing the economy. The programme aims to promote rural economic growth and improve household incomes of rural farmers. Under the program, farmers will receive certified improved seedlings, extension services, business support and regulatory mechanisms. Speaking at the…
-
World Bank provides over $200m to help increase access to electricity in W/A
The Board of the World Bank Group approved on April 17, 2019 the Regional Off-Grid Electrification Project (ROGEP), which includes $150 million in the form of credit and grant from the International Development Association (IDA) and $74.7 million contingent recovery grant from the Clean Technology Fund to help the West African Development Bank and ECOWAS’…
-
Mortgage products decreasing due to high loan default rate—GREDA
The Ghana Real Estate Developers Association (GREDA) has disclosed that banks in the country have reduced their mortgage products due to defaults in paying back loans. This, GREDA says has affected the housing sector, increasing the deficit over the years. Speaking to Citi Business News, the President of GREDA Patrick Ebo Bonful warned that the…
-
Govt will achieve IMF, World Bank growth projections—Ofori-Atta
Finance Minister, Ken Ofori-Atta has stated that Ghana will meet its 2019 growth projections set by the International Monetary Fund (IMF) and World Bank. Some analysts have questioned the significance of the 8.8 percent and 7.6 percent growth rate projections made by the IMF and World Bank for Ghana’s Economic growth for 2019, saying that…
-
Amazon plans to shut online store in China
Amazon plans to shut its online store in China that allows shoppers to buy from local sellers as it downsizes operations in the country. The firm said it would no longer run the domestic marketplace from July, but Chinese shoppers will still be able to order goods from Amazon’s global store. It will also continue…
-
TUC, other groups sign MoU with gov’t to participate in management of economy
The Trades Union Congress (TUC) and the Employers Association have signed a Memorandum of Understanding with the Finance Ministry and the Ministry of Employment and Labour Relations for effective participation in discussions relating to the management of the economy. The TUC and the Employers Association now have a slot to make inputs into policies pertaining…
-
Ghana sells 380,000 T of 2019/20 cocoa export contracts by mid-April
Ghana’s cocoa marketing company has sold around 380,000 tonnes of export contracts for the 2019/20 season, sources there and at the industry’s regulator Cocobod. The Cocobod source said between 60,000 and 80,000 tonnes of export contracts were sold during the first 10 days of April. The sources provided no comparative figure for the 2018/19 season.…