Author: Nerteley Nettey
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COVID-19: July’s budget will reposition Ghana’s economy – Ken Ofori Atta
The Minister of Finance, Ken Ofori-Atta, says the new budget to be presented in Parliament in July this year, will reposition Ghana’s economy to meet the global effects of the novel Coronavirus pandemic. According to him, since the 2020 budget has been disrupted due to the pandemic, there is the need for a new fiscal…
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Finance C’ttee yet to decide on request for lowering of Stabilization Fund cap
Parliament’s Finance Committee on Wednesday April 1, 2020, concluded a meeting on government’s request for the lowering of the cap on the Stabilization fund from 300 million dollars to 100 million dollars.. According to Citi Business News sources in the meeting, the Committee could not conclusively deal with the matter due to the absence of…
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ADB to support agribusinesses and farmers to mitigate COVID-19 impact
The Managing Director of ADB, Dr. John Kofi Mensah, has announced that the bank will by the end of this week announce a support package for agribusinesses and farmers in the country due to the impact of the COVID-19 pandemic. He says players in the agriculture sector are a critical component of the bank’s operations,…
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AGI to aid identification of members in SMEs sector exempted from partial lock-down
Following reports that some security personnel are curtailing the movement of employees of various companies due to the implementation of the partial lockdown, the Association of Ghana Industries (AGI), says it is taking immediate steps to provide its members with appropriate forms of identification. The two weeks partial lockdown on Accra, Tema, Kasoa and Kumasi,…
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Parliament passes Corporate Insolvency Bill
Parliament on Wednesday April 1, 2020, passed the Corporate Insolvency Bill, 2019, to provide a framework for the regulation of insolvency practitioners and facilitate access to timely, efficient and impartial liquidation proceedings either directly or through the creditor’s committees. The financial sector crisis triggered a conversation about the need to strengthen corporate governance structures; after…
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Absa Ghana donates GHS1m towards Ghana’s COVID-19 fight
Absa Bank Ghana has donated an amount of GHS1 million to Ghana’s COVID-19 Fund to help in the fight against the spread of the coronavirus in the country. The donation, which is in response to President Akufo-Addo’s announcement of the creation of a COVID-19 Fund is towards the procurement of test kits and Personal Protective…
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COVID-19 cases in Ghana now 195
The novel coronavirus cases in Ghana have risen to 195 according to the Health Minister, Kwaku Agyemang Manu. Thirty-four new cases have been recorded since Tuesday, March 31, 2020. The Greater Accra Region has 174 of these cases, the Northern Region has 10, the Ashanti Region has nine, the Upper West Region has one, and…
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adb cuts staff by 45% to observe social distancing in COVID-19 fight
The Managing Director of adb Bank, John Kofi Mensah, says the bank as part of its efforts to prevent the spread of the COVID-19 internally, has allowed 45 percent of its workforce to go on mandatory leave. This follows a directive from the Bank of Ghana asking all financial institutions operating in the country to…
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Anamua Sakyi writes: The oil market must brace for another price plunge, if…..
The oil and gas industry appeared to have weathered the storm of the 2015 price collapse and had responded with considerable accomplishments. By November 2017, domestic crude oil production reached its highest level in U.S. history. International trade in crude oil and petroleum products was booming with exports of 6.6 million and imports of 10.3…
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Hollard Ghana donates GHS100,000 towards Ghana’s COVID-19 fight
Hollard Ghana, a leading insurance service provider, has donated GHS100,000 to Ghana’s COVID-19 Fund established by government to urgently finance efforts to contain the spread of the virus. Last week, President Akufo-Addo announced the creation of a COVID-19 Fund with his three-months salary as seed money, to support the well-being of those who will be…