Business

The Bank of Ghana will issue upgraded and security-enhanced banknotes into circulation on May 6, 2019. According to a statement issued by the BOG on Monday, April 8, the banknotes will have enhanced security features in line with evolving changes in the technological landscape. The upgraded banknotes will also come with improved durability and machine readability. The new enhanced security features ...

Only two percent of the 250, 000 of Ghanaians who enter the Ghanaian labour market annually, are absorbed in the formal sector, Mr Franklin Owusu Karikari, the Director for Business Support of the National Entrepreneurship Innovative Plan (NEIP) has said. He said the remaining 98 percent relied on the informal sector for jobs, saying, last year alone, the country produced ...

The government has announced a reduction in the benchmark valuation of imports effective Thurday, April 4. The benchmark valuation for general goods has been slashed by 50 per cent whilst that of vehicles has also seen a 30 per cent reduction. This was announced by Vice President Dr Mahamudu Bawumia on Wednesday at the maiden Town Hall Meeting on the economy organised by ...

The New Patriotic Party (NPP) Memeber of Parliament (MP) for Juabeng, Ms Ama Pomaa Boateng, has proposed to Parliament to, as a matter of urgency, pass a law to incorporate cryptocurrency into Ghana’s financial  sector. She said there was an urgent need for members of the house to expand their knowledge and pioneer legislation that would recognise the block-chain technology ...

A number of international consumer goods companies operating across Africa have launched the Africa Plastics Recycling Alliance at the Africa CEO Forum in Kigali, Rwanda. They include Diageo, Unilever, The Coca Cola Company, and Nestlé. This Alliance aims to turn the current challenge of plastic waste in Sub Saharan Africa into an opportunity to create jobs and commercial activity by ...

African Regional Programme Leader of Food and Agricultural Organisation (FAO), Dr Ade Freeman, has said about $40 million is needed to fill the financial gap in the agricultural sector. He said there was a deficit in the sector and until that amount was amassed the sector would continue to lag behind. Dr Freeman said this at a stakeholders’ engagement on ...

Ghana has recorded a downward slope by placing 9th as one of the preferred investment destination hub in Africa, according to a study by Rand Merchant Bank Ltd (RMB). Findings by RMB analysts and co-authors of the study, Celeste Fauconnier and Neville Mandimika showed that Ghana dropped from fifth to ninth place in the 2019 rankings mainly as a result ...

An ambitious project is underway to install 55 small-scale renewable electricity production and distribution systems, known as mini grids, in island communities on the Volta Lake and those with limited access to the national grid by 2020. So far, some US$230 million has been dedicated to the implementation of the project which is being executed by the Volta River Authority ...

Ministry of Food and Agriculture says it is looking to cut down imports of rice by 50 per cent as well as end the importation of tomato this year. Deputy Minister for the Ministry of Food and Agriculture, George Oduro said the government is working to cut the levels of food import significantly. He said “this year alone, our target ...

The Executive Board of the International Monetary Fund(IMF) has completed the last review of the Extended Credit Facility (ECF) for Ghana, signifying the conclusion of the four-year support programme. The Executive Board decision now allows for the disbursement of the last tranche of SDR132.84 million (about US$185.2 million) to Ghana. The board completed the seventh and eighth reviews on Wednesday March ...