Category: Top Stories
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We’ll be swift with Ghana’s economic recovery – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, has reiterated the government’s commitment to swiftly restore Ghana’s economic fortunes in the shortest possible time. Speaking at MTN Group’s 2023 Capital Market Day (CMD) in Johannesburg, South Africa, a two-day event aimed at engaging with stakeholders in the financial community, Mr. Ofori-Atta expressed the government’s determination to revitalize…
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Ghana and Côte d’Ivoire partner to tackle cocoa smuggling
The Ghana Cocoa Board (COCOBOD) is set to partner Côte d’Ivoire to harmonize the pricing and trading policies of cocoa to help address the issue of cocoa smuggling. Reports suggest that some cocoa farmers in Ghana have been smuggling their cocoa beans to Côte d’Ivoire for sale due to the higher prices offered in that…
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Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt
As the pensioner bondholders continue picketing at the Finance Ministry today over unpaid coupons, the group has renewed calls for government to borrow from the treasury bills market to pay them. According to the pensioners, the difficulties caused by the prolonged non-payment of their coupons and principals continues to bring untold hardship on them. Convenor…
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Ghana’s energy sector needs audit to ascertain debt levels – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is calling for a full-scale audit to be launched into Ghana’s power and energy sector to ascertain the country’s current debt level of the sector. This comes at a time when the Public Utility Regulatory Commission (PURC) has increased electricity tariff by 18.3 per cent and has since…
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Sole implementation of cylinder recirculation model threatens our investment – LPG Operators
The Ghana Liquefied Petroleum Operators Association (GLPOA) has cautioned the government to stop the exclusive implementation of the Cylinder Recirculation Model (CRM) programme, as it will be a direct threat to investments made by Ghanaians in the LPG business. Speaking to Citi Business News during the opening of their 5th National Congress in Takoradi, the…
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Mobile money disrupted banking in Ghana – Zeepay CEO
Founder and Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, says the introduction of mobile money disrupted banking in Ghana and other parts of Africa. He indicated that mobile money broke the “curse” of Ghanaians’ inability to walk into a bank to transfer money to another bank “over the counter”. The CEO of Zeepay observed that…
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Independent Power Producers demand 30% payment of arrears
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB) is demanding the payment of 30 percent of outstanding arrears owed its members by government. This call was agreed upon at an emergency meeting of IPPs on Tuesday 23rd May 2023. A statement issued by the Chamber and signed by its Chairman, Togbe Afede…
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We are confident of meeting IMF conditions for fiscal consolidation – Ofori – Atta
Government has stated that it is certain of meeting the International Monetary Fund’s (IMF) requirements for fiscal consolidation in its quest to ensure economic recovery. The IMF, in its report on Ghana’s request for a $3 billion dollar extended credit facility, attributed Ghana’s economic challenges to weak domestic revenue mobilization efforts. The Fund also said…
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Fuel pricing: COPEC predicts marginal drop in first window of June 2023
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a marginal decline in the prices of fuel in the first pricing window of June 2023. COPEC attributes this projection to the relative stability of the forex rates although the international market benchmark prices of crude oil haven’t been that favorable. The Chamber is further predicting…
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ACEP pushes for research in Africa’s energy sector
With the African Oil and Gas market projected to register a compounded annual growth rate of more than 5.5 per cent between 2022- 2027, the African Center for Energy Policy (ACEP) is calling for holistic research into the energy sector to secure the future of the continent. The Think Tank explains that with the global…