Category: Local Economy
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Govt, EU, FAO launch €10m project to address food security in Northern Region
The European Union (EU), the government and the Food and Agriculture Organization of the United Nations (FAO) have launched a 10 Million Euro project to support vulnerable populations grappling with food insecurity in Northern regions. In a joint statement issued by these groups, more than 50,000 people will benefit from the 3-year project. The project…
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Ghana’s IMF debt ranking a bad investor signal – Lord Mensah
Finance Lecturer at the University of Ghana Business School, Professor Lord Mensah has expressed fears that Ghana’s already dwindling investor confidence will further be exacerbated as the government struggles to bring debt levels to a sustainable path. The economist’s comments come on the back of the International Monetary Fund’s (IMF) latest quarterly report which put…
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Menzgold CEO NAM 1 granted GH¢500m bail
The CEO of defunct Menzgold Ghana Limited, Nana Appiah Mensah, has been granted bail to the tune of GH¢500 million with four sureties, none to be justified. He has also been directed to deposit his passport at the court registry as part of the bail conditions. This follows his plea of not guilty to 39…
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Suspension of permits for new cement factories to boost local manufacturing sector
Government has explained that, the suspension of permits the construction of new factories for the manufacturing and bagging of Portland cement in the country will boost confidence within the local manufacturing sector. According to government, the temporary ban will create a coordinated mechanism for regulatory institutions to issue permits before the authorization of construction works.…
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1D1F: 126 factories now operational, over 160k jobs created – Govt
The Minister of Trade and Industry, KT Hammond, has disclosed that 126 projects are currently in operation under the government’s One-District-One-Factory policy. According to him, about 300 established companies are also at the various stages of completion, actively taking part in the supply chain. Addressing the Ghana Industrial Summit and Exhibition 2023, on September 18,…
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Women in Ghana paid 34.2% less than men
Data from the first quarter of the 2022 Annual Household Income and Expenditure Survey (AHIES) indicates that among paid workers, women earned 34.2 percent less than men. The estimated gender wage gap adjusts for age, approximate years of work experience, highest level of education attended, main occupation, industry, employment sector, and region of residence. The…
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Accra: Fire guts several shops at CMB
Fire has gutted several shops at CMB, behind Kantamanto in Accra, destroying goods worth millions of Ghana cedis. The cause of the fire which started around 5:00 am on Sunday is currently unknown. Firefighters from the Ghana National Fire Service (GNFS) were quickly dispatched to the scene, but the fire had already spread to several…
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MTN Alert: Report MOMO agents over illegal split transaction
The Mobile Telecommunications Network (MTN) has declared that the act of split cash transaction is illegal, urging its clients to report any Mobile Money (MOMO) agent who engages in such unlawful practice for action. The MTN charges for mobile money cash transactions at a fixed rate pegged at GH₵10 cedis on GH₵1000 and above for…
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64% increase in cocoa price woefully inadequate – GNACOF
The Ghana National Association of Cocoa Farmers (GNACOF) has described the 64 percent increase in the producer price of cocoa announced by the government as woefully inadequate and that farmers will likely continue to smuggle cocoa to Ivory Coast where prices are higher. GNACOF President Stephenson Anane Boateng said the government needs to do more…
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Incomes of 22 million Ghanaian households decline post COVID-19
Almost half of the world’s population is currently impoverished. Extreme poverty according to the World Bank is the number of people living on less than US$ 2 a day. This is equivalent to about GHS 22. In Ghana, 22 million households are estimated to be living below the international poverty threshold. According to the Ghana…