Business General

Gideon Boako educates Ato-Forson on his own five questions

Steve Darko March 22, 2019 47 0

“Learn To Be a Good Student” The Ato Forson led Caucus Group (hereinafter referred to as AFLC Group), during its press conference on Wednesday, 20th March, 2019 asked 5 questions for the Vice President, Dr. Mahamudu Bawumia to answer. Reading the questions, one wonders if Ato-Forson and his Read More

Business General

Economy stronger now than ever – Adu Boahen

Steve Darko March 22, 2019 37 0

The Ghanaian economy has become stronger under the Akufo-Addo government than under previous administrations. This claim was made by a Deputy Minister of Finance, Charles Adu Boahen on the Citi Breakfast Show on Thursday. “The question here is, has the fundamentals changed? The answer is that the fundamentals are very strong. We haven’t had a […]Read More

Business

AfDB’s Prof Nyong named among world’s 100 Most Influential People in Climate Policy

Steve Darko March 22, 2019 21 0

The Director for Climate Change and Green Growth of African Development Bank, Professor Anthony Nyong has been named as one of the 100 Most Influential People in Climate Policy 2019. The nomination was by Apolitical, a peer-to-peer learning platform for governments. A press release issued by the Chief Communications Officer of the bank, Mr Chawki […]Read More

Business

You can’t manage the economy with propaganda – Adongo tells gov’t

Steve Darko March 22, 2019 21 0

The Minority in Parliament has slammed the handlers of the economy for being economic with the truth and current state of the economy particularly performance of the Cedi. According to them, government has failed to tell Ghanaians about the causes of the failing Cedi and suggest that government should admit their inability to manage the […]Read More

Business

Bawumia leads Economic Management team town Hall meeting on April 3

Steve Darko March 22, 2019 16 0

Vice President Dr. Mahamadu Bawumia will lead an economic management team town hall meeting with stakeholders on the economy on April 3 in Accra. Minister for Information Kojo Oppong Nkrumah who disclosed this at a Press Briefing in Accra said the vice President who is also the head of the Economic Management Team will be […]Read More

Business

Ghana’s macroeconomic outlook better than five years ago – IMF

Steve Darko March 22, 2019 17 0

hana’s macroeconomic outlook is now better than five years ago when she went in for the IMF programme Dr Albert Tourna Mama, Ghana’s Resident Representative at the International Monetary Fund (IMF), has said. He noted that for the first time in a decade, Ghana achieved a primary surplus in 2017 and 2018, while the key […]Read More

Business General

Suzuki to set up production plant in Ghana

Steve Darko March 22, 2019 20 0

The Japanese Multinational automobile manufacturing company, Suzuki Motor Corporation has announced its intention to set up a production facility in Ghana and make the country the hub of its operations in sub-Saharan Africa. Mr Koichi Suzuki, Suzuki’s General Manager in-charge of Middle East and Africa disclosed this when he called on President Nana Addo Dankwa […]Read More

Business General

Jospong Group projects Ghana as destination of choice for investment in Africa 

Steve Darko March 21, 2019 105 0

In an effort to accelerate economic development in Africa as a means of improving the Lives of people, the Jospong Group of Companies represented Ghana at the just ended 14th CII-EXIM BANK CONCLAVE on India-Africa Project Partnership held in New Delhi – India. This year’s Conference, brought together over 500 delegates including 33 Ministers and heads […]Read More

Business

We may consider revising 1D1F – NPP communicator

Ama Serwaa March 21, 2019 37 0

A member of the ruling New Patriotic Party (NPP) Communications team, Eric Amoako Twum, has said the government may have to go back to the drawing board to redefine its flagship policy “One-District One-Factory” to properly address the economic needs of Ghanaians. The NPP while in opposition promised to establish a factory in each of […]Read More

Business

Bawumia to address Cedi depreciation on April 3

Ama Serwaa March 21, 2019 30 0

Vice-President Dr Mahamudu Bawumia, is set to address Ghanaians on the state of the economy on April, 03, 2019, at a town hall meeting. The event will take place at the College of Physicians and Surgeons in Accra on the theme: “Our progress, our status, our future”. Dr. Bawumia who heads the Akufo-Addo government’s Economic […]Read More

Business General

Pay us compensation or face our wrath – ex staff to AngloGold Ashanti

Ama Serwaa March 21, 2019 38 0

Some 4000 former workers of mining giant Aglogold Ashanti’s Obuasi mine has asked the company to pay compensation due them by the end of this month or face their wrath. The workers who were laid off between 2013 and 2014 say several attempts to have the company fulfil its obligation to them have proven futile. […]Read More

Business

Akufo-Addo’s diagnosis of the weakening cedi ‘elementary’ – Gyampo

Steve Darko March 21, 2019 38 0

An associate professor at the University of Ghana has described as “elementary knowledge,” the President’s assertion that the weakening value of the cedi is the result of Ghana’s over dependence on imported goods. Professor Ransford Gyampo argued Wednesday that there are major causative factors causing the depreciation of the cedi other than what he termed […]Read More

Business

Cabinet approves automobile industrial policy

Steve Darko March 21, 2019 36 0

Cabinet has approved the draft automobile industrial policy which has been designed to guide the establishment of vehicle assembling plants and manufacturing firms in the country. The policy is expected to go through parliamentary scrutiny before becoming a working document. Deputy Minister of Trade and Industry, Robert Ahomka Lindsay tells JoyBusiness, the government is Read More

Business

Recent cedi depreciation ‘nothing to do with fundamentals’ – Economist

Steve Darko March 21, 2019 32 0

A Professor in Economics, Prof. Eric Osei Assibey, has ruled out the fundamentals of Ghana’s economy as the cause of the recent round of currency depreciation. “If the fundamentals of the economy are anything to go by, we shouldn’t be seeing the things we are seeing”, the University of Ghana lecturer said on the Joy […]Read More

Business

Over-fishing reducing catch, increasing import needs

Steve Darko March 21, 2019 31 0

In 2018, Ghana imported an estimated US$ 311.4 million worth of seafood and fish products, resulting from overexploitation of the marine stocks in the country’s own territorial waters which is further expected to continue to limit domestic seafood production over the next few years, until domestic stocks replenishes. This is making Ghana’s still small, but […]Read More

Business

Landmark Eurobond is recognition of credible economic management – Gov’t

Steve Darko March 21, 2019 27 0

The government has described the recent oversubscription of its Eurobond as an overwhelming vote of confidence in Ghana’s economic resurgence and a recognition of the credibility of Ghana’s economic management team. The $3billion Eurobond at its closure yesterday in London received orders totalling $21 billion – about seven times more than the amount needed, a Read More

Business

Ghana gets $185m from IMF after final review of fund programme

Steve Darko March 21, 2019 27 0

The International Monetary Fund (IMF) on Wednesday completed the 7th and 8th reviews under the Extended Credit Facility (ECF)-supported arrangement. The completion of the two final reviews on March 20, 2019, will make available to Ghana the cumulative amount of about $185.2 million, the IMF said in a release issued on Wednesday. “Considering the authorities’ […]Read More

Business

Ghana to weigh longer-term debt after Eurobond issuance

Steve Darko March 21, 2019 26 0

Ghana will work with the market to determine the tenure of possible longer-dated bonds for a future debt issuance after raising $3 billion this week, said Finance Minister Ken Ofori-Atta. The world’s second-biggest cocoa producer sold Eurobonds in a three-part deal with an average maturity of seven, 12 and 31 years after receiving $19.9 billion […]Read More

Business

Cedi fall added GH¢15.3b to Ghana’s external debt

Steve Darko March 20, 2019 39 0

The recent depreciation of the Cedi against major international currencies, especially the dollar, has added GH¢15.3billion to the country’s external debt stock, the Minority has said. The development, according to the Minority, means that Ghana’s external debt stock as at November 2018 will be translated at the current exchange rate into GH¢101.3 billion. This was […]Read More

Business General

Bawumia speaks on economy at last

Steve Darko March 20, 2019 43 0

The Vice President and Head of Ghana’s Economic Management team, Dr. Mahamudu Bawumia, will address questions relating to the state of Ghana’s economy at a Town Hall Meeting slated for April 3 at the College of Physicians and Health Sciences in Accra. The Town Hall Meeting aimed at briefing citizens about developments in Ghana forms […]Read More

Business General

Why the Minority is demanding new budget

Ama Serwaa March 20, 2019 51 0

The minority in Parliament is demanding a new budget from the Akufo-Addo government in the wake of the depreciation of the cedi against major international currencies. The Cedi until Thursday, March 14 had fallen deeply against international currencies especially the dollar, by some 5 per cent trading at around GH¢5.90. It has, however, begun to […]Read More

Business

Cocobod signs $300m Trade Facility

Ama Serwaa March 20, 2019 51 0

The Ghana Cocoa Board (Cocobod) has reportedly signed a new three-year receiveables-backed trade finance facility of $300 million. A statement made available to DGN Online by the public affairs department of Cocobod says “the facility will be used to refinance Cocoa bills raised by Bank of Ghana on behalf of cocobod and/or to finance production […]Read More

Business General

Google writes to Ghana over last Friday’s Cedi glitch

Ama Serwaa March 20, 2019 41 0

Online giant Google has written to Ghana over last Friday’s glitch which saw the Cedi to dollar rate weighing as much as four times the accurate figure. In a statement to the Finance minister, google said: ‘We always aim to provide people with the most relevant, useful information to help them to make the right […]Read More

Business

Ghana’s economy benefits foreign investors than Ghanaians – Bokpin

Ama Serwaa March 20, 2019 38 0

An economist Professor Godfred Bokpin has observed that the Ghanaian economy is structured to benefit foreign investors more than locals regardless of how hard they work. He says although growth appears to be registered in the books, it does not practically reflect in the outlook of the country. “In this country, we are seen working […]Read More

Business

Toyota, Suzuki, CFAO JV to produce cars in Ghana

Ama Serwaa March 20, 2019 50 0

Officials from Suzuki Motor Corporation, Toyota Tsusho Corporation, and CFAO have announced a joint venture to manufacture and distribute vehicles in Ghana. At a courtesy call on President Akufo-Addo, on Tuesday, March 19, 2019, at the Jubilee House in Accra, Mr. Koyote Suzuki, General Manager for the Middle East and Africa of Suzuki Motor Corporation, […]Read More

Business

Bastardising Databank to get at Ofori-Atta ‘really wrong’ – CEO

Steve Darko March 20, 2019 40 0

The CEO of the Databank Group, Mr Kojo Addae-Mensah, has said the recent negative rumours circulating on social media about an alleged run on the investment bank – an apparent situation, which, according to the write-up, has purportedly plunged the firm into a liquidity crunch – could be the work of mischief makers who are […]Read More

Business

Ghana to reduce rice import by 50% in 2019

Steve Darko March 20, 2019 39 0

The Ministry of Agriculture says plans are in place to reduce the importation of rice by at least 50 percent this year. This is to enhance the growth and consumption of local rice in Ghana. Currently, Ghana imports 331 million dollars of rice annually, a development stakeholders have described as worrying. Speaking to Citi Business […]Read More

Business

Turkey to scale up investment in Ghana

Steve Darko March 20, 2019 36 0

The Turkish government is looking forward to increase its bilateral trade with Ghana to $1 billion with special interest in the Agriculture and Tourism sector. According to the new Turkish Ambassador to Ghana, Ozlem Ergun Ulueren, aside from their numerous investments in the country, Ghanaian authorities have pointed out several other opportunities. “We believe that […]Read More

Business

Women farmers urged to explore other sources of income

Steve Darko March 20, 2019 37 0

Nana Adwoa Dokua, a Member of the Board of Directors of Ghana Cocoa Board (COCOBOD) who also doubles as the Ambassador for the Women in Cocoa and Chocolate Network (WINCC) has called on women in cocoa farming to develop their skills to earn additional income from the production of cocoa. The women were entreated to […]Read More

Business

Government secures record bids for its Eurobond

Steve Darko March 20, 2019 41 0

The government has secured far more than it was targeting in its Eurobond sale. This was after it closed the pricing in London Tuesday. Results that JoyBusiness is picking up from the transaction indicates that the government has received over $21 billion in bids from investors across the world. Details of the bond The three […]Read More