Category: Government
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Ofori-Atta to raise over US$3 billion in diasporan bond
The Ministry of Finance is hoping to raise over US$3 billion in a Diasporan bond through the creation of the Diasporan Savings and Investment account. The account which will also be known as the African Sankofa Account will enable people of African descent living outside the continent to lend to the government of Ghana for…
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The financial sector reforms and the return of NAM1: A Citi Business News Review of 2019
This year has witnessed a number of interesting events and happenings that have in one way or the other shaped the local economy. These happenings have largely had an impact on the economies of individuals both positive and negative in some cases. The year started on quite a sour note for Heritage and Premium banks.…
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181 projects under 1D1F at various stages of implementation — Trade Minister
Trade and Industry Minister Alan Kyerematen has said the government’s flagship programme, One district, One factory, has so far witnessed about 200 companies that are at various stages of implementation. The projects, Mr. Kyerematen said, cover a spread of 112 districts of the 275 districts in the country. He further explained that the list includes…
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4.7 percent budget deficit will be difficult to achieve — Prof. Quartey
Director of the Institute of Statistical, Social And Economic Research (ISSER) of the University of Ghana, Prof. Peter Quartey has cast doubts on the government’s ability to achieve its budget deficit target set for the 2020 election year. The Finance Minister in the presentation of the government’s 2020 budget statement had reiterated the commitment to…
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MTN wins 18th edition of Ghana Club 100 awards
Telecommunication Company, MTN has been adjudged the best company at the 18th edition of the Ghana Club 100 awards. The event which was held at the Kempinski Gold Coast Hotel in Accra brought together captains of industry in both the private and public sectors. Kosmos Energy, GOIL, and Sunon Asogli Power Ltd, came in as…
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Government must tax fees earned by mobile money operators — Ursula Owusu-Ekuful
The Minister of Communications Ursula Owusu Ekuful has argued that it will be appropriate for the government to tax the transaction fees mobile money companies charge when they conduct mobile money transactions. Addressing the press in Accra on the performance of the Common Monitoring Platform operated by KelniGVG, the Communications Minister said mobile money companies…
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Government to issue US$3 billion Eurobond in 2020 — Ofori-Atta
The Finance Minister Ken Ofori-Atta says the government will return to the Eurobond market to borrow US$3billion to help the government bridge the deficit between its revenue and expenditure in 2020. The government is projecting to raise GH¢67 billion in revenues and grants whereas its total expenditure for the year is pegged at GH¢86 billion…
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#GHBudget: Ofori-Atta seeks Parliament’s approval to spend GH¢86 billion in 2020
Finance Minister Ken Ofori-Atta, is seeking Parliament’s permission to spend nearly GH¢86 billion on various planned programmes and initiatives in 2020. The amount being sought by Mr. Ofori-Atta represents more than 21 percent of what the government is likely to spend for this year. According to the 2020 budget statement, GH¢21.7 billion nearly 25 percent…
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Concession agreement for US$2.6 billion Accra Skytrain project signed
The Government of Ghana on Monday signed a US$2.6 billion Concession Agreement with African Investment (AI) SkyTrain Consortium, a South African firm, to construct the Accra Inner-city SkyTrain project. The deal, signed on the sidelines of the ongoing Africa Investment Forum (AIF) in Johannesburg, South Africa, will move forward the construction stage of the single…
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China releases funds for phase one of Sinohydro project
Funds for the first tranche of the ‘bauxite for development’ barter agreement, popularly known as Sinohydro deal, signed between the Government of Ghana and the People’s Republic of China has been released, the Vice President of the Republic, Dr. Mahamudu Bawumia has disclosed. Speaking in Accra on Monday, 11th November 2019 at the Jubilee House,…