Category: Africa
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Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses
Stakeholders in Ghana’s manufacturing sector are being encouraged to prioritize upgrading over upscaling when it comes to goods and services emanating from Ghana into other African countries as part of the African Continental Free Trade Area (AfCFTA). Trade data from the United Nations Conference on Trade and Development (UNCTAD) shows that a handful of countries…
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Ghana receives €9.7 million EU Grant to improve access to electricity
The European Union (EU), through the French Development Agency – Agence Francaise Development (AFD) – has approved a new €9.7 million euros grant for the Ghana Grid Company (GRIDCo) to boost infrastructure works on the interconnection line between Ghana and Burkina Faso. This is expected to increase electricity access in Northern Ghana and exporting capacity…
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AfCFTA: Plans far advanced to complete protocol on Women in Trade – Wamkele Mene
Secretary-General of the African Continental Free Trade Area, AfCFTA, Wamkele Mene has disclosed that plans are far advanced to complete the Protocol on Women in Trade to facilitate greater trade opportunities for women under the trade agreement. According to him, women play a significant role in trade in Africa and will be essential to the…
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ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo
Chairman of the Economic Community of West African States (ECOWAS) President Nana Akufo-Addo has called for the rapid establishment of a payment and settlement system for the ECOWAS region. He made the call during the opening ceremony of the 58th Ordinary Session of the ECOWAS Authority of Heads of State and Government, which was held…
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AfCFTA to set up trade finance facility for SMEs in Africa
Since the commencement of the African Continental Free Trade Area (AfCFTA) in January 2021, the Secretariat keeps intensifying its efforts in making sure that no one is left out of the continent-wide pact. It is for this reason that several mechanisms for supporting trade under the AfCFTA will soon be introduced. One of such is…
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LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant
Energy Consultant, Dr Yussif Sulemana has indicated that the liquified natural gas-to-power project will reduce the cost of electric production in the country by up to 30 percent. Ghana is set to open sub-Saharan Africa’s first liquefied natural gas-to-power project as it moves to position itself as a hub for the cleaner and cheaper fuel…
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Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana
Almost a week after the commencement of the African Continental Free Trade Area (AfCFTA), businesses in Ghana, both small and big, have been charged to be proactive in taking steps to participate and benefit fully from the continent-wide agreement. Trading under the agreement was supposed to have commenced in July 2020 but had to be…
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GUTA to commence cross-border trading with Nigeria
The Ghana Union of Traders Association (GUTA) says its members will commence brisk business with Nigeria with the reopening of the country’s land borders. Speaking to Citi Business News, President of the Association, Dr Joseph Obeng, says the opening of the borders is timely for the business of its members. He stated that “It is…
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Stakeholders charged to eliminate barriers likely to impede success of AfCFTA
Secretary-General of the African Continental Free Trade Area (AfCFTA) Wamkele Mene, says signatories and other stakeholders to the trade agreement are aware there will be a period of protectionism in the various countries even after AfCFTA comes into force from January 1, 2021. According to the World Bank, AfCFTA will lift 30 million Africans out…
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Ghana can benefit from AfCFTA with hemp production – Business consultant
Business Consultant, Nataki Kambon, says Ghana stands to benefit immensely from the Africa Continental Free Trade Area Agreement (AfCFTA) if it can take advantage of the production of Indian hemp in the country. Parliament earlier this year passed a bill which allows for the cultivation of cannabis solely for industrial and medicinal use. Nataki believes…