Category: Government
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Bailing out victims of financial scams sends bad signals-Prof Quartey
Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has cautioned government against bailing out customers of financial scams in the country. According to him, government’s decision to pay customers of DKM for the losses they incurred when the company collapsed, will only embolden other victims of similar…
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Salaga market left to rot as reconstruction works are abandoned
Traders at the new Salaga London market in Accra are calling on government to complete the old market to facilitate their trading activities. The traders who say they have complained several times to government but seen no positive results say they are recording losses as a result of the situation. According to the traders, they…
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Govt urged to pass Competition Law
The Consumer Unity & Trust Society (CUTS) Ghana, a research and advocacy policy think tank, has urged government to ensure that the competition law is passed by December 2019. According to the Country Coordinator of CUTS Ghana, Appiah Kusi Adomako, Ghanaians are being denied the opportunity to enjoy high quality goods and services at competitive…
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Government seeks private partners to achieve SDG targets
Investors, Policy makers and experts from various sectors have been exploring new opportunities for Sustainable Development Goals(SDG) investments in Ghana. Government is seeking private sector partnership to enable the country meet the 2030 SDG targets. The move has become necessary as Ghana’s progress towards the attainment of the goals has been described as very slow.…
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Ghana-Togo deliberate on maritime boundary for oil blocks
Government is hoping to reach an amicable agreement with the Togolese government on the Ghana-Togo Maritime Boundary demarcation. This is the third time the two countries are meeting to properly demarcate the boundaries which is suspected to hold oil and gas in commercial quantities. Lessons from Ghana-Ivory Coast dispute Ghana last had a maritime dispute…
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TUC kicks against privatization of public payroll system
The Trades Union Congress (TUC) has kicked against a decision by government to outsource the management of the public pay roll system to a private entity. According to TUC, the private sector has a profit motive and may compromise the process to maximize profit. “There are many private sector that are failing including banks which…
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Plans to recapitalize ADB threatens merger with NIB
It is emerging that the proposed merger between ADB and NIB may not come off following a recapitalization plan outlined by ADB. The Finance Minister, Ken Ofori Atta has stated of plans to establish a National Development Bank with the merger. The latest comes with about three weeks to the deadline for the minimum capital…
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FBNBank receives $72.5m to meet BoG capital requirement
FBNBank Ghana Limited has received an amount of US$72.5 million from its parent bank, First Bank of Nigeria to shore up its capital to meet the Bank of Ghana’s new minimum capital requirement of 400 milion cedis. In statement issued on Tuesday, by the Managing Director of the Bank, Mr. Gbenga Odeyemi said with this,…
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Ghana to stop rice imports soon – Agric Minister
The Minister of Agric, Dr. Owusu Afriyie Akoto has stated that his outfit is working to reduce drastically, if not stop the import of rice within the next four to five years. It follows the success chalked as the country did not import maize between January and September this year due to increased local maize…
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World Bank announces $200 billion for Climate Action
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The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the…