Category: Manufacturing
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Ghana-China to construct a $100 million chocolate factory in Sefwi-Wiawso
Government has announced a joint partnership deal with the Chinese to construct a 100 million dollar chocolate factory at Sefwi-Wiaso in the Western North region. The facility is expected to process about 50,000 tonnes of cocoa beans into chocolate in a year. This is expected to help the country add value to its cocoa beans…
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US$600m debt: We have no contract with Independent Power Producers — PDS
The Power Distribution Services (PDS) has denied being indebted to the independent power producers as there it has no contract or whatsoever with any of them. The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB) in a statement had accused PDS/ECG of being indebted to its members to the tune of about US$600…
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Banks, investors shun IPPs over US$600m ECG/PDS debt — power producers
Independent Power Producers, responsible for about 50 percent of power generation in the country, have stated that they have been blacked out by their bankers over their inability to settle matured obligations to their bankers This comes after the power producers threaten to shut down their power plants over the inability of ECG/PDS to pay…
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Yofi Grant woos diasporans to invest in Ghana
Ghanaians living abroad have been urged to take advantage of the opportunities in the economy by investing in it and establishing businesses as well. According to the CEO of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, the positive macroeconomic indicators in the country such as a drop in inflation over the years, a drop…
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Power producers threaten shutdown over unpaid bills
Independent power producers in the country have served a seven-day ultimatum to the government, through the Ministry of Finance, to impress upon Power Distribution Services (PDS) to expressly release funds to pay all outstanding debts – estimated at US$300 million as at June 2019 – or they shut down their plants. “We caution that should…
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Manufacturers to pass on increased tariffs to consumers—Chamber of Commerce warns
Manufacturers are likely to transfer to Ghanaians, the cost associated with the recent increase in electricity and water tariffs announced by the Public Utilities Regulatory Commission (PURC). That’s according to the Ghana National Chamber of Commerce and Industry (GNCCI). The Utility Services Regulator recently approved an 11.17 percent tariff increment for electricity and 8.1 percent…
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Cement manufacturers in pain over impact of high taxes on their operations
Cement Manufacturers in the country want government to reduce the number of taxes and levies imposed on their operations. According to the Cement Manufacturers Association of Ghana, the increasing number of taxes and levies imposed on them is putting a pressure on their members. Among the numerous taxes and levies is the recently added fumigation…
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Government grabs US$200m World Bank cash to support private sector growth and boost job creation
Government has secured a US$200 million facility from the World Bank to help in the transformation and diversification of its economy by promoting private investment and firm growth in the real sectors of the economy. The facility is aimed at implementing an integrated programme will help boost the country’s competitiveness and deliver sustainable jobs under…
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‘Findings about supermarkets’ low retail of made in Ghana goods should inspire action’
The Ghana National Chamber of Commerce and Industry (GCCI) has called for a sustained effort by multiple stakeholders in the promotion of quality made in Ghana products. The comments follow recent research conducted by Konfidants, an international business advisory firm, which shows that goods manufactured locally are struggling to make it to the shelves of…
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‘Invest in infrastructure to make continental free trade agreement a success’
African countries that are set to take part in the African Continental Free Trade Agreement must invest in regional infrastructure in order for it to succeed. This is according to the Former Governor of the Central Bank of Nigeria, Charles Soludo. The Agreement, which is expected to see full implementation this month is aimed at…