Category: Government
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Govt officials signing bad energy contracts to be prosecuted
A new Energy Sector Reform Document yet to be approved by cabinet will allow for the punishing of officials who sign bad contracts in the energy sector. This, according to the Energy Sector Reform Committee will help reduce debts in the sector. Also in the document are recommendations to ensure that the energy sector debt…
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NEDCo loses 54.1 million dollars in Power Compact Two funds
The Northern Electricity Distribution Company (NEDCo) has lost an opportunity to benefit from a 54.1 million dollars fund under the Millennium Power Compact Two programme. The fund was expected to be used for NEDCo’s Financial and Operational Turnaround Project to make the electricity distribution company effective in the north. A press statement from the Ministry…
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Govt establishes Tree Crop Dev’t Authority to boost export of timber
Government has announced the establishment of a Tree Crop Development Authority to regulate the production and sale of tree crops in the country. The Authority will enact policies to streamline the activities of farmers in the tree crop sector. The establishment of the authority follows the launch of the Planting for Exports and Rural Development (PERD),…
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Planting for Export and Rural Development will stabilize economy – Nana Addo
President Nana Akufo-Addo says the Planting for Export and Rural Development (PERD) will play a key role in stabilizing the economy. The programme aims to promote rural economic growth and improve household incomes of rural farmers. Under the program, farmers will receive certified improved seedlings, extension services, business support and regulatory mechanisms. Speaking at the…
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Port workers protest delayed action on reviewed port expansion concession
Workers of the Ghana Ports and Harbours Authority (GPHA) want the government to expedite the implementation of the findings of a review of the concession agreement for the Tema Port expansion project. The workers, on Tuesday [April 23, 2019] wore red attires and arm bands to protest what they describe as the delay in addressing…
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Mortgage products decreasing due to high loan default rate—GREDA
The Ghana Real Estate Developers Association (GREDA) has disclosed that banks in the country have reduced their mortgage products due to defaults in paying back loans. This, GREDA says has affected the housing sector, increasing the deficit over the years. Speaking to Citi Business News, the President of GREDA Patrick Ebo Bonful warned that the…
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Govt will achieve IMF, World Bank growth projections—Ofori-Atta
Finance Minister, Ken Ofori-Atta has stated that Ghana will meet its 2019 growth projections set by the International Monetary Fund (IMF) and World Bank. Some analysts have questioned the significance of the 8.8 percent and 7.6 percent growth rate projections made by the IMF and World Bank for Ghana’s Economic growth for 2019, saying that…
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TUC, other groups sign MoU with gov’t to participate in management of economy
The Trades Union Congress (TUC) and the Employers Association have signed a Memorandum of Understanding with the Finance Ministry and the Ministry of Employment and Labour Relations for effective participation in discussions relating to the management of the economy. The TUC and the Employers Association now have a slot to make inputs into policies pertaining…
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Ghana sells 380,000 T of 2019/20 cocoa export contracts by mid-April
Ghana’s cocoa marketing company has sold around 380,000 tonnes of export contracts for the 2019/20 season, sources there and at the industry’s regulator Cocobod. The Cocobod source said between 60,000 and 80,000 tonnes of export contracts were sold during the first 10 days of April. The sources provided no comparative figure for the 2018/19 season.…
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Ghana cuts its cocoa crop forecast due to plant disease
Ghana cut its forecast for the current season’s cocoa harvest by 6 percent because of plant disease in its biggest growing region, according to two people familiar with the matter. The regulator of the world’s second-biggest cocoa producer lowered the production estimate for the annual crop through September to 850,000 metric tons, from 900,000 tons…