Tag: Ghana News
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We can’t keep our power plants on if payments are not consistent – IPPs
The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor has indicated that the IPPs will only take on the threat of shutting down their plants only if promises made to them by the government are not fulfilled. “It is not about the threat to shut down, it is about our…
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Economy has turned no corner – Kwabena Duffuor
Former Finance Minister Kwabena Duffuor has dismissed claims by the current Finance Minister, Ken Ofori-Atta, that Ghana’s economy has turned the corner. Ofori-Atta made the claim during his presentation of the Mid-Year Budget Review in Parliament on July 31. He said that government plans and programmes had started yielding positive results and that the economy…
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Transport operators threaten to increase fares by 20%
The Coalition of Transport Union and Association is threatening to increase transport fares by 20 percent if government fails to scrap off some taxes from the petroleum price build-up. The association says government must abolish the sanitation and pollution levy, and energy sector levy to ease the unnecessary pressure on drivers and other consumers. Speaking…
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ECG settles June, July payments to IPPs
Citi Business News has gathered that the Electricity Company of Ghana (ECG) has settled debts to all Independent Power Producers (IPPs) for the months of June and July after earlier concerns expressed by the power generation companies. Sources close to Citi Business News confirm that all the IPPs have received a second payment for current…
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NCA begins Digital Audio Broadcasting trial in Ghana with Citi FM, others
The National Communications Authority (NCA) has launched the trial phase of Digital Audio Broadcasting (DAB) in Ghana. This move establishes Ghana as the pioneer in West Africa and the fourth in Africa to embrace this innovation, which enables radio stations to extend their reach to cities beyond their immediate locations, giving them a wider audience.…
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Govt settles first coupon for bonds affected by DDEP
The government of Ghana, through the Ministry of Finance, has begun the process of settling the first coupon payment of bonds affected by the domestic debt exchange program (DDEP). According to the Ministry, the matured coupons amount to GHC 2.4 billion, and instructions have already been sent for settlement. The DDEP was launched in 2022…
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No procurement law breached in $250m new HQ project – BOG insists
The Governor of the Bank of Ghana, Dr. Ernest Addison, has emphatically stated that the institution did not breach any procurement laws in its pursuit of building a new headquarters for the Central Bank. The response from the BoG comes in the wake of concerns raised by Samuel Okudzeto Ablakwa, the Member of Parliament (MP)…
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GH¢60.8bn loss won’t impact our operations – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has emphatically stated that the institution did not breach any procurement laws in its pursuit of building a new headquarters for the Central Bank. The response from the BoG comes in the wake of concerns raised by Samuel Okudzeto Ablakwa, the Member of Parliament (MP)…
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Soaring food, energy prices push 15m Africans into poverty
Some 15 million people in Africa were pushed into poverty in 2022 due to high food and energy prices, the African Development Bank (AfBD) has reported. However, the Bank indicated that the poverty effect of energy price increases was higher than food prices. This was because the energy impact was fully passed through household income,…
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Future of Ghana’s private sector promising – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo is optimistic about the potential of Ghana’s private sector, saying the future looks promising. The sheer energy and can-do spirit demonstrated by the private sector, culminating in job and wealth creation, had contributed significantly to economic growth and development, he noted. “The Akufo-Addo Administration is indeed building an entrepreneurial nation…