Author: Nerteley Nettey
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Covid-19: Kosmos Energy supports correctional institutions, families with $50,000
Leading Oil and Gas giant, Kosmos Energy Ghana has donated food relief and medical supplies valued at US$50,000 to three correctional institutions and 400 families at a ceremony in Accra. The institutions are the James Camp Prisons, Senior Correctional Centre and Light Outreach Orphanage. The donation is aimed at easing the unexpected pressures brought about…
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-1.1% GDP growth is in line with Central Bank’s economic projection – Dr. Addison
The Governor of the Bank of Ghana, Dr. Ernest Addison has stated that the recent 3rd quarter contraction of the economy is in line with the Central Bank’s economic recovery projection. His comments come on the back of new data from the Ghana Statistical Service indicating that the Ghanaian economy has contracted for the second…
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German Cooperation, GIPC, sign €762,300 financing agreement to promote investments
As part of efforts to promote investments and safeguard jobs in the country, the Ghana Investment Promotion Centre, GIPC and Invest for Jobs, an initiative of the German Federal Ministry for Economic Cooperation and Development have signed a €762,300 financing agreement to support the growth of small and medium sized enterprises. The cooperation between the…
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PPI for November 2020 increased slightly to 8.8% – Statistical Service
New figures released by the Ghana Statistical Service (GSS), indicate that the Producer Price Inflation rate for November 2020 was 8.8 percent. This rate indicates that between November 2019 and November 2020 (year-on-year), the PPI increased by 8.8 percent. It also represents a 0.4 percentage point increase in producer inflation relative to the rate recorded…
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GUTA welcomes Nigeria’s decision to reopen its land borders
The Ghana Union of Traders’ Association, GUTA, says it is looking forward to the reopening of the Nigerian border for trade activities to return to normalcy. According to them, this is critical to the success of the implementation of the African Continental Free Trade Area (AfCFTA). The Nigerian government in August last year closed its…
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BoG, Monetary Authority of Singapore sign MoU to support SMEs
The Bank of Ghana (BOG) has signed a Memorandum of Understanding (MOU) with the Monetary Authority of Singapore (MAS) to collaborate in promoting Small and Medium-sized Enterprises (SMEs) through the use of technology. This is a follow up to earlier engagements between the Governments of Ghana and Singapore, which culminated in an understanding between the…
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Nigeria to re-open land borders soon – President Buhari hints
After more than a year of closing its frontiers to stop the smuggling of products from neighbouring West African states into the country, President of Nigeria, Muhammadu Buhari has stated that Nigeria is looking to reopen its borders ‘as soon as possible’. This is according to the Premium Times website. Mr. Buhari stated this during…
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World Bank approves $60 million to strengthen resilience of Africa’s agricultural sector
The World Bank Board of Directors has approved a $60 million International Development Association (IDA) grant to help African countries strengthen the resilience of their agricultural sectors to the threat posed by climate change. The grant fulfils the World Bank’s commitment at the 2019 United Nations Climate Summit to increase its support to the CGIAR,…
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Inflation drops to 9.8%; lowest rate since outbreak of COVID-19
Ghana has for the first time since the outbreak of the novel Coronavirus pandemic in the country recorded a drop in inflation below 10%. The year-on-year inflation rate for November which is 9.8% percent, is lower than the revised inflation target of about 11 percent announced in the 2020 mid-year budget statement. The figure also…
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Amalgamated Mutual Fund PLC begins partial bailout payments to clients of collapsed FMCs
The Amalgamated Mutual Fund PLC (The AM Fund) has commenced cash payments under the partial bailout scheme to clients of the Fund Management Companies (FMCs) for which the Official Liquidator is yet to obtain Liquidation Orders from the courts. This follows the announcement by the Securities and Exchange Commission (SEC) on November 18, 2020, that…