Business

John Peter Amewu, the Minister of Energy, said government has taken steps to address the challenges it inherited in the Renewable Energy sector. He identified the signed Renewable Energy Power Purchase Agreements (PPAs) to the tune of 2,265MW with an average price of cent19/KWh, which, he said, was far above what the electricity network could accommodate, as a major challenge. ...

Kennedy Ohene Agyapong says the incumbent NPP administration should take a second look at interest rates in the country because some indigenous businesses are collapsing as a result of high interest rates. To the Assin Central legislator, this is a clear indictment on a government which aims at creating more jobs in the country. “Because of high interest rates, we’re ...

President Nana Addo Dankwa Akufo-Addo has launched Ghana’s first locally assembled Volkswagen car as part of investment geared towards the automobile industry. This follows the signing of an MoU between the Government of Ghana and Volkswagen which was aimed at establishing a vehicle assembly plant in Ghana during German Chancellor, Angela Merkel’s official visit to Ghana in August 2018. Speaking at the ...

ECOWAS Bank for Investment and Development says it has invested over $300-million into Ghana’s economy. Areas of investment, the bank said to include, Energy, Trade, Technology, Tourism and hospitality industry. Dr George Nana Agyekum Donkor, the President of the Bank, made this known when he and other staff of the bank paid a courtesy call on Chief Justice Kwasi Anin ...

Between 2011 and 2017, the number of Ghanaians living in multidimensional poverty reduced by 14,115,572, the Ghana Statistical Service’s Multidimensional Poverty Index (MPI) report has said. The MPI report used the seventh round of the Ghana Living Standards Survey (GLSS) conducted between 2016/2017 survey periods. It employed a strict harmonised dataset from the Ghana Multiple Indicator Cluster Surveys (MICS) conducted ...

Finance Minister, Ken Ofori-Atta has clarified that only GHC12 million out of the GHC54 million captured in his mid-year review presentation was used for the provision of hot meals during the COVID-19 lockdown. Many including the Minority questioned the amount asking for details following the Minister’s presentation. However, in his concluding remarks to end the debate on the Supplementary Budget in Parliament today, Hon. ...

The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found. If implemented fully, the trade pact could boost regional income by 7% or $450 billion, speed up wage growth for women, and lift 30 million people out of extreme poverty by ...

The Board of Directors of the African Development Fund (ADF) on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation. The grant from the ADF, the concessional arm of the African Development Bank will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness ...

President Nana Addo Dankwa Akufo-Addo will soon launch  a GHS100-billion economic recovery programme to rebuild the local economy following the COVID-19 pandemic, Finance Minister Ofori-Atta has said. He told Parliament on Thursday July 23 that “Mr Speaker, we wish to take this opportunity to announce to the people of Ghana that the President and his team have done a lot ...

Following the discovery and the subsequent production of oil and gas in commercial quantities in Ghana in 2007 and 2010 respectively, majority of Ghanaians anticipated that the development of an oil and gas sector would be a foundation for poverty reduction and general prosperity to the citizens. The pursuit to take full advantage of benefits in the Oil and Gas ...