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Tuesday, February 27, 2024

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Gov’t to launch Fintech Innovation Fund to support start-up businesses – Bawumia

The Government is set to establish a FinTech Innovation Fund to bolster start-ups and propel Ghana's digital revolution, as announced by Vice President, Mahamudu Bawumia during the press launch of the inaugural 3i Africa...

Ghana’s cashew market yet to explore US$7bn opportunities – Report

With an annual cashew export earning averaging US$350 million, Cashew Watch Ghana (CWG), a civil society organization, asserts that Ghana has not fully tapped into the US$7 billion global cashew market potential.CWG deems the...

Jospong Group to construct waste plants in Nigeria, Lagos

The Jospong Group of Companies (JGC) has signed an agreement with the Lagos State Government's Ministry of Environment and Water Resources to construct waste treatment facilities in Lagos, Nigeria.This collaborative effort aims to...

Invest in irrigation agriculture to combat food shortage – GAWU to govt

The General Agricultural Workers Union (GAWU) of Ghana has emphasized that the key to addressing the country's food shortage lies in prioritizing irrigation agriculture, especially in the face of ongoing reports predicting sustained high...

You must address influx of foreign businesses in upcoming SONA 2024 – GUTA to Akufo-Addo

The Ghana Union of Traders Association (GUTA) has urged President Akufo-Addo to outline strategies for stabilizing the local currency in the forthcoming 2024 State of the Nation Address (SONA) scheduled for Tuesday, February 27.In...

International Cocoa Organisation warns Ghana over Cocoa Sector challenges

The International Cocoa Organisation (ICCO) has issued a stark warning to Ghana, urging immediate action to address significant "structural issues" within its cocoa sector. The organisation's alert comes amidst a deepening supply crisis, with a...

GAWU attributes inflation surge to lean season, lack of rainfall

General Secretary of the Ghana Agriculture Workers Union (GAWU), Edward Karewah, has cautioned that the recent surge in food prices across the country is likely to persist until the arrival of the harvest season...

Sanctions made against Sentuo Oil Refinery must be publicized – COPEC, IES to NPA

The Institute for Energy Security (IES) and the Chamber of Petroleum Consumers (COPEC) have urged the National Petroleum Authority (NPA) to publicly disclose the sanctions imposed on the Chinese-owned Sentuo Oil Refinery (SORL).On February...

NPA pressured to publish sanctions imposed on Sentuo Oil Refinery

The Institute for Energy Security (IES) and the Chamber for Petroleum Consumers (COPEC) are urging the National Petroleum Authority (NPA) to disclose the full extent of sanctions imposed on Sentuo Oil Refinery Limited for...

IES, COPEC demand transparency amidst fuel quality concerns

The Institute for Energy Security (IES) and the Chamber of Petroleum Consumers (COPEC) have raised questions about the National Petroleum Authority's (NPA) decision to impose additional sanctions on Chinese-owned Sentuo Oil Refinery, given concerns...

British High Commissioner pledges support for poultry and cashew sectors in Dormaa enclave

British High Commissioner to Ghana, Harriet Thompson, has pledged to explore opportunities for private investment in the poultry and cashew sectors within the Dormaa enclave. During a working visit to Osagyefo Oseadeeyo Agyemang Badu II,...

Land dispute affecting business activities in Kumasi Acheamfuor market – Traders lament

Traders at the Acheamfuor market in Kumasi are grappling with the repercussions of escalating tensions among families disputing the ownership of the land where the market operates.The simmering conflict has led to a sluggish...

We will facilitate favourable conditions, policies for e-mobility businesses – GIPC

Deputy Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yaw Amoateng Afriyie has emphasized the organization's dedication to facilitating favorable policies for the growth of foreign electric mobility (e-mobility) businesses.Acknowledging the existing...

Ghana struggles to bridge climate finance gap for agricultural sector

Ghana's efforts to combat the escalating impacts of climate change on its agricultural industry face a significant hurdle due to a widening climate finance deficit estimated at approximately US$14.25 billion annually.The revelation, brought to...

Govt has an outstanding US$2 million debt to settle in Agyapa Royalties deal – Reports

The expenditure incurred by the government on the failed Agyapa Royalties deal surpasses the previously reported US$12 million, as revealed by Edward Nana Yaw Koranteng, CEO of the Minerals Income Investment Fund (MIIF), during...

Cocoa output plummets 40%, fueling record-high prices in 2023/24

Sources from Ghana's cocoa sector regulator, COCOBOD, indicate that the anticipated cocoa output for the 2023/24 season is likely to significantly miss expectations, with an estimated 40 percent shortfall from the target of 820,000...

1.96m Ghanaians experience severe food, malnutrition challenges – World Bank report

Approximately 1.96 million Ghanaians face severe food insecurity, as reported by the latest World Bank Food Security Update.Ghana ranks 9th in West and Central Africa for the highest population experiencing food and nutrition...

Nigeria cracks down on forex street traders, crypto trading platforms amid naira decline

In a bid to halt the steep decline of the naira, Nigeria has taken decisive action against foreign currency street traders and a prominent crypto trading platform.The unofficial market witnessed a sharp drop in...

We will boycott 2024 elections if you don’t formalize our work – Tricycle, okada riders to govt

Tricycle and commercial motorbike (okada) riders across the nation have hinted at plans to boycott the 2024 general elections if the government fails to demonstrate a genuine commitment to formalizing their operations beforehand.Expressing their...

166 artisans equipped with startup tools by GNPC

Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), Opoku–Ahweneeh Danquah, has underlined that the true measure of the Corporation’s success lies in the extent to which its endeavors benefit the people...

Bawumia appoints renowned economist Kwame Pianim as advisor on his campaign team

Renowned economist, Kwame Pianim, has been selected by Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), to serve as one of the advisors to the committee responsible for drafting the party's...

Your appointment is an opportunity to reevaluate, adopt sustainable approach to tax collection – Financial Analyst to Amin Adam

Enyonam Adzo Apetorgbor, a financial analyst, has voiced concerns regarding the treatment of taxpayers in the tax collection process.She believes that the current strategy of aggressive tax collection has led to strained relations...

Ghana’s cocoa production for 2023/24 season to fall by 40% – Report

Ghana's cocoa sector is facing a significant setback in the 2023/24 season, with an expected 40% drop in cocoa output compared to the target of 820,000 metric tons.The decline is attributed to adverse...

Enough onions available for supply despite Niger’s exits from ECOWAS – Onion Sellers Association of Ghana

The Onion Sellers Association of Ghana has reassured the public regarding concerns over a potential increase in onion prices due to Niger's withdrawal from the Economic Community of West African States.Despite worries of price...

Niger’s exit from ECOWAS, has not affected onion supply yet – Ghana onion sellers

The Onion Sellers Association of Ghana has reassured the public regarding concerns over a potential increase in onion prices due to Niger's withdrawal from the Economic Community of West African States.Despite worries of price...

Ghana grapples with $14.25bn annual climate finance gap

Ghana's efforts to mitigate the escalating impacts of climate change on its agricultural sector face a significant challenge due to a widening climate finance gap, estimated at around US$14.25 billion annually.Dr. Victor Antwi,...

NPA sanctions SORL amid criticisms from COPEC and IES criticism

In the aftermath of quality test failures on a consignment of petrol produced by Sentuo Oil Refinery Limited (SORL), the National Petroleum Authority (NPA) of Ghana has imposed sanctions on the company.In a statement...

NPA rejects allegations of favoritism towards Sentuo Oil Refinery

The National Petroleum Authority (NPA) refuted claims made by the Institute of Energy Security (IES) and the Chamber for Petroleum Consumers (COPEC) accusing the regulator of being lenient with Sentuo Oil Refinery Limited (SORL).In...

Banking sector clean-up mitigated impact of COVID-19, economic crisis – GAB

Chief Executive Officer of the Ghana Association of Banks, John Awuah, has underscored the vital role of the banking sector's clean-up in confronting the challenges of the COVID-19 pandemic and subsequent economic turmoil.Speaking...

SML contract boosts GRA revenue in petroleum downstream to more than GHS12bn+

Following the execution of the revenue assurance contract between Strategic Mobilisation Ghana Limited (SML) and the Ghana Revenue Authority (GRA), details have emerged showcasing favorable outcomes for the country's revenue.The contract, inked in December...

GSA approves new cement type for Ghanaian market

The Ghana Standards Authority (GSA) has approved the production and sale of a new cement type, MASONRY CEMENT TYPE M, for the Ghanaian market.This approval, aligned with international standards, aims to enhance the...

Producer Price Inflation slightly rises to 17.4% in January 2024

In January 2024, the Producer Price Inflation (PPI) edged up to 17.4%, a modest increase from the 16.6% recorded in December 2023. This signifies a year-on-year rise of 0.8 percentage points compared to the...

ARDA, OPEC, and partners to boost African oil industry

President of the African Refiners and Distributors Association (ARDA), Dr. Mustapha Abdul-Hamid, reaffirmed their dedication to collaborating with the Organization of the Petroleum Exporting Countries (OPEC) and other entities to foster a sustainable oil...

BoG, Development Bank Ghana join forces for innovative MSME financing study

The Bank of Ghana and the Development Bank Ghana have joined hands in a Memorandum of Understanding (MoU) to delve into the realm of "Innovative Financing for Micro, Small, and Medium Enterprises (MSMEs) in...

We supported YouStart with funds generated from E-levy – John Kumah

Deputy Minister of Finance, Dr John Kumah, has revealed that the parts of revenue generated from the Electronic Transfer Levy (E-Levy) was used to support the YouStart initiative. He indicated that this move was part...

Govt earned GH¢1.19 billion from e-levy in 2023 – Deputy Finance Minister

Deputy Minister of Finance, Dr. John Kumah, revealed that the government amassed a total of GH¢1.19 billion in revenue from the E-levy for the year 2023.He made this revelation during the media launch...

Parliament demands accountability on $12m spent on Agyapa Royalties in 7 days

The Mines and Energy Committee in Parliament has issued a stern ultimatum to Edward Nana Yaw Koranteng, Chief Executive Officer of the Minerals Income Investment Fund (MIIF), regarding the expenditure of $12 million related...

ARDA, NPA pledge collaboration for sustainable African Oil and Gas industry – Dr. Abdul-Hamid

President of the African Refiners and Distributors Association (ARDA) and Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, reaffirmed ARDA's dedication to partnering with key organizations like the Organization of the...

Transport minister addresses safety concerns over Delta Airlines’ faulty aircraft

Transport Minister, Kwaku Ofori Asiamah, has noted that there have been several meetings between Ghana Civil Aviation Authority (GCAA) and Delta Airlines over the usage of its faulty aircraft in Accra.According to him, the...

Phone manufacturer issues caution against wet phones dipped in rice

Apple Inc., the smartphone manufacturer, has issued a warning advising users against placing their phones in a bag of rice when they encounter water damage, as this practice is ineffective and could potentially harm...

Ghana, China Southern discuss direct flights from Accra to Guangzhou

The Ghanaian government has reportedly initiated preliminary discussions with China Southern Airlines regarding the possibility of establishing direct flight routes between Accra and Guangzhou.The objective behind this move is to strengthen bilateral trade connections...

Combatting cocoa Smuggling: COCOBOD CEO advocates for new pricing strategies

CEO of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, highlighted the ongoing challenge of cocoa smuggling into neighboring countries, often concealed in jerry cans and other methods.Despite numerous arrests related to smuggling, there...

Labour expert describes Mahama’s 24-hour economy as solution to Ghana’s challenges

Labour expert Austin Gamey emphasized that implementing a 24-hour economy is the key to repairing the country's struggling economy. He stressed that without such a system, Ghana would remain stagnant.Speaking on Citi FM, Gamey...

Akufo-Addo tasks Mohammed Amin to revive stalled projects in Ashanti region

President Nana Addo Dankwa Akufo-Addo instructed Finance Minister Dr. Mohammed Amin Adam to finalize stalled projects in the Ashanti Region.Key projects like Kumasi International Airport and Okomfo Anokye Maternity Block, along with the...

Ghana Airports, GCAA asked to settle $10m debt it owes Meteo Agency

Acting Director-General of the Ghana Meteorological Agency, Mr. Eric Esuman, revealed that the agency's $10 million debt stemmed from the Ghana Airports Company and the Ghana Civil Aviation Authority's failure to fulfill their financial...

COCOBOD CEO emphasizes competitive prices as key solution to cocoa smuggling

Joseph Boahen Aidoo, the Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), emphasized the organization's dedication to providing cocoa farmers with competitive prices as a means to combat cocoa smuggling.During his appearance...

Decline in global cocoa price caused loss of GHS2bn in 2021 – COCOBOD

The Chief Executive of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has attributed the organization's GH¢2 billion loss in 2021 to the decline in the international market price of cocoa. He highlighted that...

Ghana, 27 developing countries broke; no escape anytime soon – World Bank

The World Bank has revealed that 28 developing economies, including Ghana, with the weakest credit ratings, are currently trapped in a cycle of debt with little prospect of breaking free in the near future.The...

Japan govt provides 6 Toyota Hilux pick-ups to GEA for MSMEs growth

The Ghana Enterprise Agency (GEA), under the close leadership of the Ministry of Trade and Industry, has received support in the form of six Toyota Hilux pick-ups, alongside essential office equipment, a significant boost...

Dr. Amin Adam urges GRA to address revenue generation gaps at ports

In the course of a recent meeting with the Commissioner-General of the Ghana Revenue Authority (GRA), Finance Minister Dr. Mohammed Amin Adam expressed apprehension regarding the persistently high levels of corruption perceptions at Ghana's...

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