Author: Lawrence Segbefia
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Growth must reflect in livelihoods of Ghanaians – IMF to gov’t
The International Monetary Fund (IMF) has advised the government of Ghana to ensure that the country’s expected economic growth translates into an improvement in the livelihoods of the citizenry. The Fund maintains that this could be achieved if the government ties its policies and programs with the aim of solving issues such as unemployment. The…
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Crypto Coin Sales stage revival after bursting of ICO Bubble
You have to give the entrepreneurs in the world of cryptocurrencies credit. After the bursting of the Bitcoin bubble and increased regulatory push back, they’ve developed a new way to raise millions from investors and enthusiasts still dreaming of digital gold. While Initial Coin Offerings have been pretty much declared dead, startups are now raising money through…
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GRA to confiscate ECOWAS vehicles for exceeding 90 day entry period
The Customs Division of the Ghana Revenue Authority(GRA) has stated that it will start confiscating vehicles from the ECOWAS region that stay in the country for more than 90 days without legal permission. This the Customs Division says it will do through the full implementation of Article 5 of the ECOWAS Protocol on the Free…
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GIPC expresses disquiet over presentation of forged documents in business registration
The Ghana Investment Promotion Center has expressed disquiet about the increasing rate at which foreign entities presenting forged documents to business regulators in Ghana. According to stakeholders at the 2019 Economic Counsellors Dialogue organized by the Ghana Investment Promotion Center (GIPC), if the situation is not addressed it can negatively impact Ghana’s image in the…
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Load shedding to minimize as Ghana Gas completes tie-in of gas pipelines
Ghana should increase its power production by about 450 megawatts within the coming months. This follows the completion of tie-in of gas pipelines connecting Takoradi and Tema in a bid to stabilize the production and supply of power. There have been cuts in power supply to parts of the country over the past two months…
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Inflation for March increases to 9.3 percent, second consecutive time
The Consumer Price Inflation (CPI) for March 2019 has increased to 9.3 percent. The rise represents a 0.1 percentage increase relative to the 9.2 percent recorded in February 2019. The Consumer Price Inflation (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of…
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Ghana Is the Star in IMF’s 2019 Economic Growth Forecast
Ghana will be the fastest-growing economy in the world this year, according to the International Monetary Fund. The lender’s growth forecast of 8.8 percent for the producer of cocoa, gold and oil dwarfs the 6.6 percent median in a Bloomberg survey. The IMF’s projection in its latest World Economic Outlook published Tuesday is “way too…
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IMF cuts Sub-Saharan Africa’s 2019 growth forecast to 3.5 percent
The International Monetary Fund cut its 2019 economic growth projection for sub-Saharan Africa this year to 3.5 percent, from 3.8 percent set last October, hot on the heels of a downgrade by the World Bank earlier in the week. The new forecast reflects downward revisions for Angola and Nigeria with a softening in oil prices,…
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Engineers bemoan poor use of technology in Ghana’s development
Different stakeholders in the engineering profession have bemoaned the poor level of mastery and innovative deployment of technology and its application for Ghana’s economic growth. According to them, the vision of industrialization for Ghana will not be realized if the country continues to ignore the important role of science and technology in its development. At…
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Intermittent power outages caused by financial challenges–IES
The Institute of Energy Security has said government is facing severe liquidity challenges hence the struggle to fuel plants to power electricity. The institute claims there is insufficient funds to buy crude oil, resulting in frequent power outages in the country. Already, a former Deputy Power Minister, John Jinapor, has said that the Ghana National…