Author: Lawrence Segbefia
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An African candidate could be the next WTO Director-General – Trade Analyst predicts
An African could emerge as the Director-General of the World Trade Organization (WTO) if the continent puts forward a competent name for the vacant position created by the resignation of Brazil’s Roberto Azevêdo. That’s the view of a Trade Analyst and Managing Partner at Konfidants, Michael Kottoh. Mr. Kottoh argues that geopolitical issues and trade…
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BoG to finance government’s budget with ¢10bn to tackle COVID-19 impact
The Bank of Ghana says it will support the government’s budget with 10 billion cedis to enable it address the economic impact of COVID-19 on the country. This will include an initial amount of 5.5 billion cedis of the COVID-19 relief bond. The Governor of the central bank, Dr. Ernest Addison, disclosed this at a…
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Ghana adds GHS16.9 billion to debt stock in 2020 1st quarter
New figures released by the Bank of Ghana show that the country’s debt stock increased by 16.9 billion cedis in the first quarter of 2020, that’s from January to March. The figures, which were contained in the Bank of Ghana’s Summary of Economic and Financial Data pegs the country’s total debt stock by March 2020…
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It will be prudent for banks to disburse GHS600m stimulus package – Economist
A Financial Economist, Dr. Lord Mensah, has backed calls for government to channel the GHS600 million stimulus package meant to alleviate the plight of SMEs amid the impact of the COVID-19 pandemic through the banks. He argues that disbursing the funds through financial institutions will enhance transparency and efficiency. The National Board for Small Scale…
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GCX partners Venture Capital Trust Fund to support commodity traders
The Ghana Commodity Exchange has signed a Memorandum of Understanding with the Venture Capital Trust Fund (VCTF), to support brokers and help them have access to farmers in trading their farm produce. The move will also help thousands of farmers to get a good price for their harvest, while ensuring food security for the state.…
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UBA Ghana appoints Balogun Olalekan as new CEO
The Board of Directors of United Bank for Africa (Ghana) Limited (UBA Ghana), has appointed Mr. Olalekan Balogun as the new Managing Director / Chief Executive Officer of the Bank. His appointment took effect from 08 May, 2020. He has replaced Mr. Isong Udom, who has been the Managing Director / Chief Executive Officer of…
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Partial lock-down takes April inflation to 10.6 percent as food prices shot up
New data released by the Ghana Statistical Service shows that prices of foodstuff went up during the three-week partial lock-down in April, which was implemented as a measure to curtail the spread of COVID-19. The food component of the country’s inflation for April increased by 8 percent more than the non-food component, pushing the rate…
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Ghana Tourism Federation laments massive job losses due to COVID-19
The Ghana Tourism Federation (GHATOF), says thousands of its members have been badly affected by the COVID-19 pandemic. According to the Federation, its members, comprising formal and informal sector workers are unable to operate due to the ban on public gathering. They include car rentals, hotels, drinking spots and recreational facilities. The federation, which is…
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NBSSI to receive applications for GHS600m stimulus package via online portal
The National Board for Small Scale Industries (NBSSI), says it will soon launch a portal that will allow Small and Medium Enterprises, SMEs, to apply for the government’s 600 million cedis stimulus package. As part of measures to mitigate the impact of COVID-19 on SMEs, the President set aside 600 million cedis to help small…
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GCNet’s operations restored after UNI-PASS’ poor takeoff
Ghana’s Single Window portal that houses the manifest, declaration and logistics module in the goods clearance chain at the ports, GCNet, says it has been able to process over 1,500 declarations just an hour after the company was directed to restart operations. GCNet was ordered by the Office of the Senior Minister to handover the…