Author: Nerteley Nettey
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2021 petroleum revenue forecasts pegged at US$886 million
Government is expecting to realize roughly US$886 million as petroleum revenue for 2021. This was announced by the caretaker Finance Minister and Minister of Parliamentary Affairs, Mr. Osei Kyei-Mensah-Bosnu during the 2021 budget presentation in Parliament on Friday, March 12, 2021. The amount is made up of royalties of US$201.0 million, Carried and Participating Interest…
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We need clear policy to promote made-in-Ghana goods – Konfidants
Konfidants, an international business advisory firm, is urging the Ministry of Trade and Industry and its agencies such as the Ghana Enterprises Agency (Formerly NBSSI), National Entrepreneurship Innovation Program (NEIP), Standards Authority to collaborate with the FDA and other stakeholders such as industry associations to come up with a holistic policy and program framework to…
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Ghana records $2.6 billion in FDI for 2020 despite impact of COVID-19
The value of Foreign Direct Investments (FDI) inflows into the country increased to 2.6 million dollars in 2020 from the 1.1 million dollars recorded in 2019. This represents an increase of 139.06 percent of the total US$1,108.93 million FDI the country recorded in 2019. This is according to the latest data from the Ghana Investment…
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Only 26% of goods sold in top supermarkets are made in Ghana – Survey
Locally manufactured goods are struggling to make it to the shelves of leading supermarkets in Accra. This is according to research conducted by Konfidants, an international business advisory firm. The research, which surveyed nine of the leading supermarkets and two fuel stations in Accra on 19 product categories, showed that only 26 percent of all…
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Ghanaians share their expectations ahead of budget reading
Government had big plans for the 2020 fiscal year when it delivered the budget in November 2019. The fiscal year was tagged the ‘Year of roads’. This was an indication of how heavy it was going to be on infrastructure, particularly roads. However, the emergence of COVID-19 in 2020 greatly affected government’s revenue and expenditure.…
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Cabinet approves establishment of National Flag Carrier
Ghana’s aviation industry is set to witness a major boost as Cabinet has given approval for the establishment of a National Flag Carrier. This is according to the President, Nana Addo Dankwa Akufo-Addo. This comes after many years of working to revive the national airline by successive governments. Addressing Parliament on Tuesday, March 9, during…
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IPPs demand full scale investigations into cause of power outage
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB) is demanding a full-scale investigation into challenges in GRIDCo’s power system that led to a total system total power outage nationwide on Sunday, March 7, 2021. According to the Chamber, it expects that the grid managers will investigate the cause of the power failure,…
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Absa Deputy CEO, Peter Matlare dies after battling COVID-19
Deputy Chief Executive Officer of Absa Group Limited and Chief Executive responsible for Absa Regional Operations, Peter Matlare has passed on after succumbing to COVID-19 related complications. A statement issued by the Group stated that, the Deputy Group Chief Executive who had been with the bank since 2016, died on 7th March 2021. It also…
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British Airways reconsiders route change from Gatwick to Heathrow
British Airways has reconsidered its decision to operate its Ghana Services from the Gatwick Airport for passengers travelling on the Accra – London route. This means, services will operate from the flagship airport for London at Heathrow. Also, passengers on the Accra – London route will land at their original destination, that is, Heathrow Airport…
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Ghanaian informal sector businesses undergo training to boost capacity
In its bid to sustain competitive and responsible enterprises within the informal sector, the International Labour Organisation, ILO, has commenced a training programme for some trade associations in the country like the Federation of Professional Trade Associations. The programme is part of the ILO’s contribution to enhancing the capacity of the informal sector due to…