Category: Local Economy
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Ghana Stock Exchange shows robust performance with notable gains in key equities
The Ghana Stock Exchange (GSE) experienced a strong trading session on September 6, 2023, characterized by significant gains in essential equities and a surge in trading activity. This surge in investor participation and increased volume is instilling confidence in the Ghanaian stock market. Out of the 14 GSE-listed equities involved in the trading, optimism prevailed…
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2023/2024 cocoa season: Stakeholders project increase in farm gate price to GHS 1,380
Ahead of Government’s announcement of the 2023/2024 farm gate price for cocoa, stakeholders are projecting an increase in producer price from the current GHS 800 to GHS 1,380 per bag of cocoa beans. This projected rise is as a result of prevailing rates on the international market. Government through the COCOBOD is scheduled to announce…
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Scale up effort to claim share of global pharmaceutical revenue – Sam Jonah
Players within the pharmaceutical industry across Africa have been charged to accelerate efforts in turning the fortunes of the sector not only into a more lucrative but lifesaving one. According to businessman and Chancellor of the University of Cape Coast, Sir Samuel Esson Jonah, the insignificant share of global pharma industry revenue leaves more room…
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IMF mission to visit Ghana from September 25
An International Monetary Fund (IMF) staff team will be in Ghana from September 25 through the first week of October to assess the implementation of Ghana’s Economic Recovery Programme. This will be the second visit by the IMF after its board approved Ghana’s bailout on May 17 and review the targets under the $3 billion…
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Let us harness the economic potential of medicinal plants – Prof. Yankah to African Nations
A call has been made for African countries to harness the immense economic potential and commercial value of herbal medicinal plants to address their economic deficits. Professor Kwesi Yankah, former Minister of State in charge of Tertiary Education, emphasized that the wealth of the continent’s medicinal plant resources remains largely untapped. By prioritizing medicinal plants…
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GEPA seeks $600 Million allocation to achieve $25 billion export target
The Ghana Exports Promotions Authority (GEPA) is facing a significant funding gap as it strives to meet the ambitious $25 billion export target set under the National Export Development Strategy (NEDS). A senior official from GEPA revealed that the authority requires $600 million over the next year to achieve this target, a stark contrast to…
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Collaborate to deal with perceived risk of investing in Africa – Amin Adam to African countries
The Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam, has urged African countries to collaborate to address the perceived risk of investing in Africa. The minister said that available data suggests that out of the $2.3 trillion allocated for investment in renewable energy worldwide, only $55 billion has been invested in Africa,…
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IMF bailout: Ghana on track to receive second tranche – Ofori-Atta
Finance Minister Ken Ofori-Atta says Ghana is on track to receive the second tranche of the IMF bailout cash in December to support the government’s balance of payments (BOP) for 2023 and 2024. The Bank of Ghana’s June 2023 summary of the Economic and Financial Stability Report shows that the bank’s BOP at the end…
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Oversubscription of govt treasury bills to continue over DDEP gains – Analyst predicts
Financial analyst, Courage Boti is predicting that government’s treasury bills will continue to be oversubscribed in the coming weeks. This, he attributes to gains made by the government in its debts restructuring exercise. The government has recorded an oversubscription of its treasury bill for two weeks in a row, with last week registering roughly 15.10…
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IMF deal: Ghana stands ready to unlock second disbursement – Economist
Economist, Dr. Patrick Assuming is optimistic Ghana will be able to receive the second tranche of $600 million from the International Monetary Fund (IMF) after the review of the bailout programme later in September. A visiting team from the Fund is expected to arrive in Ghana to assess the country’s eligibility for the second disbursement.…