Category: Government
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Ensure fairness in awarding oil blocks – ACEP
Exactly one week to the May 21st deadline for the submission of bids, given to some 14 companies that applied to explore oil blocks put on offer by the government last year, the Africa Center for Energy Policy (ACEP) has called for fairness in the awarding of the oil blocks up for grabs. President Akufo-Addo…
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AU delegation in town to assess Ghana’s bid to host African Continental Free Trade Area HQ
A 10-man delegation from the Africa Union (AU) is in the country to assess Ghana’s preparedness and facilities to successfully host the African Continental Free Trade Area Secretariat in Accra. The delegation, led by Ambassador Rosette Nyirinkindi Katungye, AU Advisor on Regional Integration, will spend the next seven days meeting government officials and inspecting facilities…
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Gov’t reviewing tax exemption policy to generate more revenue—Finance Minister
Government has begun a review of tax exemptions for companies operating in the country. Finance Minister, Ken Ofori Atta who disclosed this said some of the exemptions granted companies may not be relevant. The review follows concerns raised by a section of the public over waivers issued to multinational companies The Trade Ministry recently announced…
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MPS dismisses claims of job losses over port expansion project
Managers of the Tema Port Expansion Project, Meridian Ports Services (MPS), have downplayed suggestions that the project will lead to massive job losses. The managers say when the project is fully completed; it will rather boost the country’s economy through the creation of thousands of direct and indirect jobs. There have been protests by dock…
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Local manufacturers petition Trade Ministry over imminent collapse of Ghanaian companies
The Ministry of Trade and Industry has received petitions from various manufacturing companies calling for government’s intervention to avert an imminent collapse of some local companies due to competition from imported products. The groups, including Aluworks, Cement Manufacturers Association of Ghana, Steel Manufacturers Association of Ghana as well as Association of Biscuit Manufacturers want government…
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Reserve greater percentage of incentives under 1D1F for Ghanaians—PEF
The CEO of the Private Enterprise Federation, Nana Osei Bonsu has urged government to reserve a greater percentage of incentive packages under the One District, One Factory initiative for local companies so as to ensure their sustainability. Mr. Osei Bonsu stated that such a move will sustain the project and help create jobs for Ghanaians.…
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We’ll manage exchange rate volatilities to reduce impact on debt stock–BOG
The First Deputy Governor of the Bank of Ghana Maxwell Opoku-Afari says the central bank will among other things prioritize the management of exchange rate volatilities in the country to limit its impact on the country’s debt to GDP ratio. According to the latest International Monetary Fund (IMF) fiscal Monitor Report, Ghana’s total debt stock…
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Ghana must address mismatch gap between academia and industry—Expert
The Ghanaian –German Centre for Jobs, Migration and Reintegration of the GIZ has challenged the various stakeholders within the jobs creation space in Ghana, to make more targeted investments to help reduce the rate of unemployment in the country. The call was made at the media lunch of the 2019 Ghana Job Fair held in…
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IMF warns of revenue shortfall if Africa Free Trade Agreement is implemented
The International Monetary Fund (IMF) has warned that Ghana could face revenue shortfall if the country starts the implementation of the African Continental Free Trade Agreement(CFTA) this year. The IMF maintains that although the agreement will boost trade on the continent, it will affect earnings and employment opportunities in some sectors of the economy. “Our…
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Gov’t plans GHS12bn bond issuance for second quarter
The Ministry of Finance through the Bank of Ghana has said it will be issuing GHS12.1 billion bonds and securities between April and June. According to the second quarter issuance calendar published by the central bank, out of the amount to be issued, GHS11.53 billion will be used to roll over other government bonds which…