Category: Government
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World Bank Africa Vice President Hafez Ghanem to Visit Ghana
World Bank Africa Vice President, Hafez Ghanem will arrive in Ghana on Sunday, March 24, 2019 as part of a three-day mission to the country. Vice President, Hafez Ghanem will pay a courtesy call on His Excellency President Nana Addo Dankwa Akufo-Addo to discuss macroeconomic, fiscal and monetary policies and highlight opportunities for investing in…
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Final IMF disbursement to hit govt’s account on March 29
The International Monetary Fund(IMF) has disclosed to Citi Business News that the final tranche of the 925 million dollar Extended Credit Facility will be paid to government on March 29 2019. The IMF officially ended the Extended Credit Program for Ghana on March 20 which is two weeks earlier than the April 2019 deadline. According…
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Maintain freeze on public sector employment after IMF exit – Turkson
The government has been warned to resist any temptation to lift the ban on employment into the public sector at the end of the International Monetary Fund (IMF) programme on April 2. Speaking to Citi News, Economist at the University of Ghana, Dr. Ebo Tuckson said Ghana needs to move beyond government being the main supplier of jobs.…
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Trade Ministry begins work to make Ghana most business friendly
The Ministry of Trade and Industry has outlined a seven point strategy that it believes will aid in making Ghana a business friendly Nation in Africa. The Ministry adds that the strategy will provide an enabling environment for businesses to thrive on the international market. This they say is in line with President Akufo-Addo’s vision…
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IMF approves final disbursement of $185.2m to Ghana
The Executive Board of the International Monetary Fund has approved the final disbursement of about US$185.2 million to Ghana. Ghana is scheduled to complete an IMF programme with the fund in April 2019. According to the IMF, its Executive Board completed the seventh and eight reviews On March 20, 2019, under the Extended Credit Facility…
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Cedi depreciation pushes PPI to 5.4 percent
The Producer Price Inflation for February 2019 went up by 5.4 percent. This represents a 2. 0 percentage point increase from the 3.4 percent recorded in January 2019. The Producer Price Index is the price manufacturers and producers sell their products at the wholesale level. The 5.4 percent increase means retailers paid more on goods…
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COCOBOD signs new $300m facility to boost cocoa production
Ghana Cocoa Board (“Cocobod”)has signed a new 3-year receivables-backed trade finance facility of US$300m. The Facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of Cocobod and/or to finance production enhancement programmes. Cocobod represents various interests of the Ghanaian cocoa industry. It was established in 1947 with the mission…
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Energy Commission to sanction homeowners with improper wiring
The Energy Commission has warned it will sanction owners of buildings that are over 10 years that have not been inspected and rewired. The Commission has served notice it has begun the enforcement of the Electrical Wiring Regulations 2008 which was passed in 2012. The law requires that all buildings both commercial and private residents…
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Ghana to reduce rice import by 50% in 2019—Ministry of Agriculture
The Ministry of Agriculture says plans are in place to reduce the importation of rice by at least 50 percent this year. This is to enhance the growth and consumption of local rice in Ghana. Currently, Ghana imports 331 million dollars of rice annually, a development stakeholders have described as worrying. Speaking to Citi Business…
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Vodafone launches 4G services; intensifies competition
Vodafone Ghana has officially launched its 4G Long-Term Evolution (LTE) service The service represents the next stage of the mobile data revolution. It is designed to work efficiently than any other before it; allowing customers to experience fast speeds, high-end network quality, faster downloads and uploads. The LTE technology operates in the 2x5MHz frequency block…