Category: Africa
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Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo
Foreign illicit financial transactions and tax evasion by multinational companies are draining Africa’s domestic resources and depriving it of crucial investment funds. This is according to President Nana Addo Dankwa Akufo-Addo. According to him, the phenomenon is denying the continent the needed tax revenue to finance important development programmes for the country. Speaking during the…
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Take control of financing on the continent – Ofori-Atta to AfDB
Finance Minister, Ken Ofori-Atta, has urged the African Development Bank to strengthen itself to take control of financing more projects on the continent. According to him, the bank must put in place measures to ensure that no financial institution, including the Bretton Woods, has a deeper foothold on the continent than the African Development Bank.…
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We’ll avert any looming food crisis with effective planning – AfDB Boss
The African Development Bank Group president, Dr. Akinwumi Adesina, says he is confident that Africa will be able to avoid a looming food crisis in the coming months. To tackle the disruption of food imports from the Russian-Ukraine crisis, the Board of Directors of the Bank last week approved a $1.5 billion African Emergency Food…
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Standard of cars assembled in Ghana will not be compromised – GSA assures
The Ghana Standards Authority has pledged its commitment to making sure that standards for vehicle assembly and production in Ghana are not compromised. To achieve this, the Authority is doing all it can to ensure that the vehicles assembled in Ghana are of the highest standards to be able to compete on the African market…
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GUTA urges gov’t to get other countries to open their borders to facilitate trade
The Ghana Union of Traders Association (GUTA) has added its voice to calls on government to get Ghana’s neighbouring countries to also reopen their land borders, more than a week after President Akufo-Addo announced the reopening of Ghana’s land and sea borders President Nana Akufo-Addo’s announcement of a reopening of Ghana’s land and sea borders,…
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Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo
International Finance Corporation, IFC, a member of the World Bank Group, has appointed Kyle Kelhofer as Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo. Kyle Kelhofer who previously worked for IFC in Ghana, brings almost 30 years of global development experience to his new role supporting private sector growth, job creation, and…
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Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank
The World Bank is urging African countries to expand and diversify their participation in international trade and global value chains to reduce poverty on a large scale and transform their economies. According to the Bank, the continent must go beyond trade in raw materials and link its production and trade to the global economy to…
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Seth Terkper advises against e-levy; urges government to run to IMF
A former Finance Minister, Seth Terkper, is asking the government to heed to calls by stakeholders to return to the International Monetary Fund (IMF) to finance the country’s deficit instead of taxing Ghanaians through the electronic transfer levy. Mr. Terkper who has already registered his opposition to the idea of the e-levy, believes the government…
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AfCFTA members conclude negotiations on rules of origin to enhance free trade
Member states of the African Continental Free Trade Area (AfCFTA) have concluded their negotiations on the rules of origin, a move expected to further reduce tariffs on original goods produced within the African continent. This was disclosed by the Chairperson of the African Union Ministers of Trade, Ebrahim Patel. Although trading under the African Continental…
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Implement strategies to sustain increased consumer preference for digital payments – Bawumia
Vice President, Dr. Mahamudu Bawumia, has asked African countries to introduce innovative ways and strategies to sustain the increased consumer preference for digital payments. According to him, this will ensure the smooth and effective implementation of the Pan African Payment and Settlement System (PAPSS) as well as an increase in intra-African trade. Speaking at the…