Category: News
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We’ll manage exchange rate volatilities to reduce impact on debt stock–BOG
The First Deputy Governor of the Bank of Ghana Maxwell Opoku-Afari says the central bank will among other things prioritize the management of exchange rate volatilities in the country to limit its impact on the country’s debt to GDP ratio. According to the latest International Monetary Fund (IMF) fiscal Monitor Report, Ghana’s total debt stock…
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Government must step up efforts to curb fertilizer smuggling — Peasant farmers
The Peasant Farmers Association of Ghana has said government is not doing enough to seal its porous borders which allow smuggling of subsidized fertiliser among others to thrive. The farmer association’s statement comes after the Ministry of Food and Agriculture (MoFA) revealed that more than 50,000 bags of subsidized fertilizer under the Planting for Food…
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ESLA PLC accrues GH¢5.9 billion in assets
The total assets accruing to the Energy Sector Levy Act (ESLA PLC) increased by 2.5% for the first quarter of 2019 compared to the same period in 2018. According to the unaudited financial statement of ESLA PLC, the figure increased from 5.76 to 5.9 billion cedis for the period spanning January to March this year…
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Ghana must address mismatch gap between academia and industry—Expert
The Ghanaian –German Centre for Jobs, Migration and Reintegration of the GIZ has challenged the various stakeholders within the jobs creation space in Ghana, to make more targeted investments to help reduce the rate of unemployment in the country. The call was made at the media lunch of the 2019 Ghana Job Fair held in…
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IMF warns of revenue shortfall if Africa Free Trade Agreement is implemented
The International Monetary Fund (IMF) has warned that Ghana could face revenue shortfall if the country starts the implementation of the African Continental Free Trade Agreement(CFTA) this year. The IMF maintains that although the agreement will boost trade on the continent, it will affect earnings and employment opportunities in some sectors of the economy. “Our…
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Ghana gets support to address impacts from artisanal mining,logging
Rural communities in four regions of Ghana currently affected by the environmental damage and pollution associated with destructive artisanal mining and logging practices are to benefit from a scale up of the Ghana Forest Investment Program. An additional financing of $19.39 million was approved by the World Bank Board of Executives Directors today. It is…
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Boeing didn’t tell airlines that safety alert wasn’t on
Boeing said Sunday that it discovered after airlines had been flying its 737 Max plane for several months that a safety alert in the cockpit was not working as intended, yet it didn’t disclose that fact to airlines or federal regulators until after one of the planes crashed. The feature was designed to warn pilots…
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Western Union appoints new Head for North, Central and West Africa
The Western Union Company, a leader in cross-border, cross-currency money movement, has appointed Mohamed Touhami el Ouazzani as Regional Vice President and Head of North, Central and West Africa, based in Casablanca to lead Western Union’s business in the region with focus on expanding digital money transfer, reinforce the retail agent network and drive outstanding end-to-end customer service.…
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Pensions regulator to prosecute employers that fail to pay workers’ Tier-2 pensions
The National Pensions Regulatory Authority (NPRA) says it will soon begin the prosecution of companies that do not pay the tier-2 pensions of their employees. The threat of prosecution comes after the Attorney General recently gave the pensions regulator prosecutorial powers to go after companies that default in their workers’ tier-2 pensions. The National Pensions…
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Gov’t plans GHS12bn bond issuance for second quarter
The Ministry of Finance through the Bank of Ghana has said it will be issuing GHS12.1 billion bonds and securities between April and June. According to the second quarter issuance calendar published by the central bank, out of the amount to be issued, GHS11.53 billion will be used to roll over other government bonds which…