Category: Government
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Ghana is investment destination of choice in Africa – Dr. Bawumia
Vice President Dr. Mahamudu Bawumia has told Canadian investors that Ghana has the best investment environment in Africa for both local and foreign investors. He said Ghana did not only have stable political and security environment but has a benign legal and regulatory environment that offered the best investment climate on the African Continent.…
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Gov’t renegotiating expensive power purchase deals — Oppong-Nkrumah
Government has reiterated it’s committed to taking the necessary steps to ensure that high costs associated with bad power purchase agreements are significantly reduced. The Nana Akufo-Addo led administration has consistently accused the previous regime of signing power agreements which were knee-jerk reactions to the dumsor crisis, a situation which has led to the payment…
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Ghana’s debt stock hits 200 billion cedis by May
Data released by the Bank of Ghana shows that the country’s total debt stock has hit 200 billion cedis by May 2019. The data shows that the debt stock increased by 2 billion cedis in three months from March to May. The external component of the debt is pegged at 20.5 billion dollars while the…
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Germany, Norway support ‘Kofi Annan Peace & Security Forum’ scheduled for Sept 2019
On 4-5 September 2019, the Kofi Annan International Peacekeeping Training Centre (KAIPTC), under the distinguished patronage of Nana Addo Dankwa Akufo-Addo, President of Ghana and the Chairmanship of Dr. Mohamed Ibn Chambas, Special Representative of the UN Secretary-General and Head of the UN Office for West Africa and Sahel (UNOWAS), will host “The Kofi Annan…
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Dangote’s oil refinery not a threat to Ghana’s TOR – Analysts
Analysts in the oil and gas sector have downplayed any significant impact of a refinery by Dangote on the operations of the Tema Oil Refinery, TOR. They say the development though laudable, may not be able to meet the demand for refined products which makes it necessary for TOR to work to sustain its operations.…
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GUTA pleads with traders to reduce prices after reduction in import duties
The Ghana Union of Traders’ Associations (GUTA) has pleaded with its members to pass on the benefits that came with government’s decision to reduce the benchmark value of imported goods as well as a reduction in the calculated value of vehicles at the ports. In a press release issued on Tuesday, GUTA said the gain…
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Minority demands full disclosure of judgment debt beneficiaries
The Minority in parliament is demanding full disclosure of companies and individuals that benefited from about 300 million judgment debt announced by the Finance Minister, Ken Ofori-Atta. Mr. Ofori-Atta last week told parliament government has paid about 300 million cedis as judgment debt most of which were inherited by the Nana Addo government. But speaking…
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Renewable Energy Act to be amended — Energy Ministry
The Ministry of Energy has disclosed that the Renewable Energy Act is being amended to bring more clarity on the policies and regulations of the act. According to the Ministry, the move is to ensure active participation of the private sector in achieving government’s goal of scaling up the penetration of renewable energy in the…
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Most rural banks are well capitalized—ARB Apex Bank MD
The Managing Director of the ARB Apex Bank, Kojo Mattah has maintained that most of the rural and community banks operating in the country are well capitalized and serving their clients, contrary to reports that majority of them are struggling. He stated that the services rendered by rural banks are critical to the economic stability…
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Ofori-Atta to present mid-year budget review on July 24
The Finance Minister Ken Ofori-Atta is expected to present the government’s supplementary budget statement to Parliament on July 24. The presentation was earlier scheduled to be made on July 17 but has now been pushed a week ahead. The Public Financial Management Act, 2016 (PFMA) Act-921, requires that the Finance Minister presents a Mid-Year Review…