Business

Former Botswana Trade Minister and Special Advisor of UN Climate Change Champions, Bogolo Kenewendo, has raised concerns about the trade agreements between Africa and the Western world. She, therefore, called for advocacy among Africans on the trade negotiations, lamenting the trade agreements that were “unfairly tailored” for Africans. In an interview on The Point of View, Madam Bogolo Kenewendo emphasized the ...

A new report by the International Monetary Fund (IMF) has found that China is not the main cause of debt distress in Sub-Saharan Africa. The report, titled Regional Economic Outlook for Africa, found that Chinese loans account for just 6% of Sub-Saharan Africa’s public debt. According to the report, some 60.9 per cent of the region’s public debt is now domestic commercial borrowing with higher ...

Cabinet has approved further economic measures to sustain Ghana’s progress towards economic recovery. The decision was aimed at further consolidating the stability of growth and tightening of spending. President Nana Addo Dankwa Akufo-Addo and his Cabinet on October 20, began a three-day retreat to deliberate on the country’s economy and the humanitarian crisis that has hit many parts of Lower ...

The government has granted Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, a fifteen (15) year Mining Lease to commence the construction and mining of lithium at Ewoyaa in the Mfantseman Municipality of the Central Region. The Lease incorporates new and enhanced terms intended to ensure that the country benefits, optimally, from this mineral. This includes an increase ...

Jubilee Oil Holding Limited (JOHL) has once again failed to pay proceeds amounting to over US$70 million dollars from liftings into the petroleum holding fund for the first half of 2023. This is the fourth consecutive time the company has reportedly not paid proceeds into the Petroleum Fund contrary to the advice of the Ghana National Petroleum Corporation. This was ...

The Minister of Energy, Dr Matthew Opoku Prempeh, has urged his ECOWAS colleagues to support the development of a regional Energy Transition Policy.  He said that the policy was crucial in achieving net-zero targets to ensure the socio-economic growth of member countries. Dr Prempeh was speaking at a meeting of ECOWAS Ministers of Energy in Cotonou, Benin, last Saturday. Discussions ...

Russia allowed a return to seaborne exports of diesel just weeks after imposing a ban that roiled global markets, taking other steps instead to keep sufficient fuel supplies at home. Shipments can resume provided that the fuel is delivered to the nation’s ports by pipeline, according to a statement on the government’s Telegram account. Such flows to Russia’s western ports ...

Ghana – once touted as a trailblazing African economic success story – is facing an unprecedented financial crisis. This week, hundreds of protestors took to the streets in the capital Accra, calling on the governor of the Bank of Ghana and his two deputies to resign over the loss of about 60bn Ghanaian cedis ($5.2bn; £4.3bn) in the 2022 financial ...

Today the World Gold Council announces the release of a new documentary: GOLD: A Journey with Idris Elba, created in partnership with Pioneer Productions. Immersed in adventure, Idris Elba (Luther, Beast of Nations, Hijack) explores the mysteries, stories and untold human relationship with our most precious metal: gold. As his journey unfolds, we’re taken around the globe as he conquers ...

Fitch Ratings has downgraded Ghana’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘RD’ from ‘CCC’. It has also downgraded to ‘CC’ from ‘CCC’ and subsequently withdrawn the issue ratings on five local-currency bonds issued prior to the domestic debt exchange. It affirmed the issue rating of local-currency bonds issued on the completion date of the domestic debt exchange at ...