Category: Government
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Managers of Ghana Stock Exchange introduce new initiatives to improve 2019 performance
Investors on the Ghana Stock Exchange(GSE) should expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year. According to managers of the GSE, far reaching initiatives are being taken to improve the performance, relative to 2018. “The initiatives include: preparation and adoption of new strategic…
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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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Parliament calls for urgent measures to address mounting energy debt
Parliament has called on the Minister of Finance and the Minister of Energy, Mr John Peter Amewu to as a matter of urgency, activate the cash waterfall scheme and other prudent measures to address the debt accumulation in the energy sector. The lawmakers further called on the Minister of Finance, Mr Ken Ofori Atta…
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ENI, Vitol win new oil block in Ghana
Eni and its partner Vitol have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the Country. A statement from ENI said ENI has 70 percent stake while Vitol has 30 percent Eni will be…
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COCOBOD engages 22 banks to raise syndicate loan for 2019/20 crop season
The Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo is hopeful COCOBOD will be able to raise the needed funds to finance the 2019/2020 crop season through a syndicated loan. According to him, a team from COCOBOD and other relevant state institutions had a successful roadshow last week after engaging twenty-two banks abroad to raise…
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Government secures US$81.67 million loan for Eastern corridor roads
The African Development Fund (ADF) has approved US$81.67 million loan facility to co-finance sections of the 695-km Eastern Corridor road in Ghana, linking the capital Accra with the northern hinterland and across the borders to the Sahel region. The decision was taken by the African Development Bank (AfDB) Group’s Board of Directors meeting on…
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Mid –Year Budget review to focus on domestic revenue mobilization—Finance Minister
The Finance Minister, Ken Ofori-Atta has disclosed that the mid-year budget review which will be presented to parliament later this month will focus on improving domestic revenue mobilization Already, the Finance Minister has hinted that government will review the Luxury vehicle Tax in the mid-year budget. Speaking at a press conference Mr. Ofori-Atta explained that…
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Finance Ministry approves GHS1.5 billion for 14 road projects
Minister of Finance, Ken Ofori-Atta, on Friday 28 June conditionally approved a multi-year funding commitment of more than GH¢1.56 billion for the commencement of 14 road projects over the medium term. The move to approve the projects will see reconstruction, rehabilitation and upgrading of some selected road networks spanning 381.3 kilometres across Ashanti, Brong Ahafo,…
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Parliament to look into judgement debts et al next week
A number of financial issues, including that of the payment of judgement debts and failure by the Ministry of Finance to pay some releases would engage the attention of Parliament at next week’s sitting. The House has scheduled Finance Minister Ken Ofori Atta to appear before it on Thursday, July 4, 2019, to tell…
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Economists must actively engage policymakers — Former Nigerian central bank governor
The former central bank governor of Nigeria, Charles Soludo, has stated economists make it a point to actively engage policymakers in order for policies to become effective. Prof. Soludo speaking as the keynote speaker at the K. B Amissah-Arthur Economic Forum said that while economic policies are meant for the good of the citizens, they…