Category: Local Economy
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RMB assists Ghana to issue $3bn+ multi-tranche Eurobond and inaugural zero-coupon tranche
In Africa’s largest Eurobond issuance since the onset of the Covid-19 pandemic, Rand Merchant Bank (RMB), the corporate and investment banking arm of FirstRand Bank Limited acted as Joint Lead Manager and Joint Bookrunner (JLM), alongside other transaction parties. The company also acted as dealer manager on Ghana’s Tender Offer on its 2023 maturity Eurobonds.…
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Woodfields Energy denies withholding payments to TOR
Woodfields Energy Resources Limited, an indigenous Ghanaian petroleum company, has refuted claims of its indebtedness to the Tema Oil Refinery (TOR) to the tune of five million dollars. According to the company, they have honoured all their payment obligations for processing fees to TOR and is not indebted to the refinery for any processing fee…
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Poultry farmers welcome government’s plan to industrialize Kumasi
The Greater Accra Poultry Farmers Association has lauded government’s plan to turn the Ashanti Region into the second industrial city of Ghana. The Association however believes it can only benefit from the move only with the establishment of industries that rely on some of the products its members produce. In an interview with Citi Business…
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2021 budget didn’t give enough attention to fisheries sector – Tuna Association
The Ghana Tuna Association says the country’s budgets and Economic policies will have to begin focusing on growing the Tuna industry if the sector is to thrive. According to the Association, this year’s budget just as previous ones failed to address this concern. The Association ahead of the budget presentation had indicated that it expected…
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Courier business: Industry players optimistic of post-pandemic growth
Even though the COVID-19 pandemic has taken a toll on many businesses, and thrown economies out of gear causing many to lose revenue and jobs, others have found innovative ways to provide profitable solutions amidst the devastation. Courier or delivery service providers have for instance seen a major boom in their operations, as the pandemic…
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Poultry farmers urged to employ modern trends to reduce production cost
President of the Greater Accra Poultry Farmers Association, Mr. Michael Nyarko Ampem has urged poultry farmers in the country to employ new and effective methods in poultry management to reduce production cost. According to him, for players in the poultry farming business to be successful, they needed to exercise a high level of management in…
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Ghana must explore deep waters to avoid exhausting oil reserves – Amoako Tuffour
The secretary to government’s Economic Management Team (EMT), Prof. Joe Amoako-Tuffour has stated that Ghana risks exhausting its oil reserves in the next ten years if it doesn’t move into deep waters to explore oil. His comments come on the back of a warning of an imminent collapse of the country’s petroleum industry by the…
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Ofori-Atta suggests adoption of COCOBOD model for buying and exporting gold
Finance Minister-designate Ken Ofori-Atta is proposing a shift from the liberalized system that currently characterizes the buying and export of gold in the country, to the use of the COCOBOD model, which will see one body buying and exporting gold from Ghana. Day two of the highly anticipated vetting of Finance Minister-designate Ken Ofori-Atta which…
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Stakeholders call for stiffer control measures on illicit financial flows
The Head of Tax policy Unit at the Ministry of Finance, Mr. Daniel Nuer has called for stiffer measures in controlling illegal financial flows from the African Extractive Sectors. According to Mr. Nuer, the ravaging impact of the COVID-19 Pandemic on the African economies requires that African governments do all within their power to block…
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Special Prosecutor was not fair to me – Ofori-Atta
Finance minister-designate, Mr Ken Ofori-Atta has bemoaned the failure of the Office of the Special Prosecutor to offer him a fair hearing in the preparation of its report condemning the controversial Agyapa Royalties deal. The deal which proposed to sell almost 76 percent of Ghana’s future receipts from gold royalties to a special purpose vehicle,…