World Bank supports Ghana with $ 1.2bn credit


Ghana is to receive between 1.1 to 1.2 billion dollars in credit from the World Bank Group at least within the next three years. The facility forms part of the World Bank’s 75 billion dollars development assistance facility to countries across the globe. Ghana’s allocation is calculated out of the 50 billion dollars allocation to Africa. The Chief Economist for ...

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Economy projected to grow by 6.3% in 2017


Government has projected a  real GDP growth of 6.3 percent; with oil for the year 2017, while non-oil real GDP growth is estimated at  4.6 percent. This is compared with the 2016 GDP, based on the provisional out-turn for the first three quarters of the period, which is estimated at 3.6 percent, with the non-oil real GDP estimated at 4.6 ...

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Telcos raise red flag over BoG’s mobile money intermediary


Telecom operators in the country have raised red flag over moves by the central bank to impose on them a third-party company as intermediary in mobile money transactions across different networks. The opposition by telecom operators follows an award of a 4.6 billion cedi contract to Sibton Switch systems to enhance interoperability in mobile money transactions across telecommunication networks. Although ...

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New Business Dev’t Ministry to create 20 big companies in 4 years


The Minister Nominee for Business Development, Ibrahim Mohammed Awal, has announced an ambitious plan to create twenty big companies within the next four years The companies are among other things expected to increase Ghana’s competitiveness in the global manufacturing space and create jobs for the teeming unemployed youth. According to Mr. Awal, Ghana’s underdeveloped value chain system has made it ...

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Ghana Gas CEO Sipa Yankey resigns


The Chief Executive Officer of the Ghana National Gas Company (Ghana Gas), Dr. George Sipa-Adjah Yankey has resigned. A statement from Corporate Communications Manager of Ghana Gas, Alfred Ogbamey said Dr. Sipa-Adjah Yankey, is set to begin his terminal leave, effective February 1 and terminating in May 2017. Mr. Ogbamey, said Dr. Yankey leaves behind an inspirational legacy of overseeing ...

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Airtel in talks with Tigo for Ghana merger


Bharti Airtel is in talks with rival Millicom International Cellular for a possible merger in Ghana, as India’s No. 1 telecom operator, embroiled in a brutal tariff war in its home market, tries to find ways to improve operations in Africa where it has yet to make a profit since entering the continent in 2010. Any such merger would see ...

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Taxes Stifling Business Growth Will Be Discarded – Osafo Maafo


Senior Minister-Designate, Hon. Nana Yaw Osafo Maafo has indicated that Nana Akufo-Addo’s administration will certainly look at taxes which stifle growth to businesses in the country. According to him, he is going to coordinate with other sector ministers especially with the finance and business areas which will promote development in the country. Parliament, on Friday January 20, 2017, started vetting the ...

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COPEC-GH welcomes Boakye Agyarko


The Council of Chamber of Petroleum Ghana(COPEC-GH) has congratulated Mr. Boakye Agyarko on his nomination as Minister designate for Energy. Mr Boakye Agyarko was on Tuesday, January 10 named with 13 others to occupy various ministerial portfolios pending approval by parliament. “Very high expectations on energy generation, sustainability and supply, exploration and production, fuel prices and overall standards. Promising prospects ...

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Ken Ofori-Atta leads team to prepare NPP 2017 Budget


Though he has not been confirmed and approved by the Parliament of Ghana as the Minister responsible for Finance and Economic Planning, former Data Bank boss, Ken Ofori-Atta and his team of financial experts are preparing the 2017 Budget document which will soon be presented to the legislature for consideration and approval. Ken, understands, is working with the Hon. ...

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Gov’t accused of fleecing ECG over US$60m loan deal


A number of legislators have launched a barrage of criticism at government for entering into an on-lending loan deal with the Electricity Company of Ghana (ECG) that will see the state-owned power distributor pay about US$54million in interest to government on a US$60 million concessionary facility intended to enhance the efficiency of the power distributor within a 17-year period. The ...

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