Category: Government
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COCOBOD opens cocoa light crop season, price unchanged at 7,600 cedis/tonne
Ghana’s Cocobod will open its cocoa light crop purchases on Friday, maintaining the price it pays farmers at 7,600 cedis ($1,407) per tonne, the regulator said on Wednesday. The world’s second largest cocoa exporter after Ivory Coast runs a two-cycle cocoa season consisting of the main crop which is mainly exported and the light crop…
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Nsano, IT Consortium awarded Remittance Grant Facility support
Two companies, Nsano Group and IT Consortium, were on Wednesday awarded a grant of $478,180 under the second phase of the Remittance Grant Facility (RGF) challenge. The companies received various sums based on their project proposals and their ability to raise the 50 percent counterpart funding needed for their respective projects. The beneficiary companies…
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Ghana’s economy records 6.7 percent growth in 2019 first quarter
Provisional figures released by the Ghana Statistical Service (GSS) shows that Ghana’s Gross Domestic Product(GDP) grew by 6.7 percent in the first quarter of 2019. This is compared to the same period in 2018 which was at 5.4 percent. Speaking at a press conference, the Government Statistician, Professor Samuel Kobina Annim pointed out that the…
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Article: Boosting energy access, security in West Africa through regional cooperation
The developed part of the globe have found reliable and affordable energy as an enabler to goods and services that has enriched and extended lives. And for developing countries, the need for consistent supply of affordable energy is more vital to modernizing agriculture, increasing trade, empowering women, saving lives, improving transportation, expanding industries, and powering…
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Chamber of Independent Power Producers, Distributors and Bulk Consumers inaugurated
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB–Ghana) was on Tuesday inaugurated to assist the government in the area of policy formulation and regulation of the energy sector. The Chamber among others would help to create a platform for advocacy towards influencing legislation in the area of energy, serve as an…
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Auditor General to halt salaries of MMDAs that fail to respond to queries
Municipal, Metropolitan and District Chief Executives that fail to respond to letters from the Auditor General’s Department on irregularities of salaries will no longer receive their pay, this is the warning from the Auditor General, Daniel Domelevo. Mr. Domelovo, who also challenged Ghanaians to join the fight against payroll fraud, said refusal by MMDCEs to…
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Risk of overspending budget in next year’s elections real — World Bank Country Director
The outgoing Country Director of World Bank, Henry Kerali, says the risk of government overspending in next year’s election is real despite a number of initiatives put together after the country exited the IMF programme this year. Mr. Kerali speaking at the launch of the World Bank’s fourth Ghana Economic Update said Ghana’s true progress…
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Private companies to start selling electricity in Ghana by 2023
The Electricity Company of Ghana (ECG) has stated that the retail of power to domestic homes will be opened up to private distribution companies in 2023. By this, the Power Distribution Services (PDS) will not be the only company supplying electricity to domestic consumers. The move is aimed at creating competition to help make the…
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Article: Ghana’s debt stock–Revenue to debt servicing weak
As at the end of March 2019, Ghana’s total national debt stock stood at GHS198 billion amidst the very weak domestic revenue mobilization and slow pace export growth. The high level and growing government borrowing is a great concern to both the private sector and the international stakeholders. The government in just two and half…
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Completing financial sector clean-up is urgent — World Bank tells BoG
The outgoing Country Director of the World Bank, Henry Kerali has said the Bank of Ghana urgently needs to complete its ongoing financial sector clean-up exercise. The Bank of Ghana financial sector reforms since 2017 has led to the closing down of nine banks, close 400 microfinance, and microcredit institutions. The central bank has served…