Ghana | Africatime
Tuesday 30 August 2016

Ghana

(AFP (eng) 08/27/16)
Japan will pour $30 billion (27 billion euros) in investment in Africa by 2018, including $10 billion in infrastructure development, Prime Minister Shinzo Abe said on Saturday at a summit in Nairobi. "When combined with the investment from the private sector I expect the total real amount to be $30 billion," Abe said at the opening of the Tokyo International Conference on African Development (TICAD). "This is an investment that has faith in Africa's future," he said. Abe will use the conference to meet dozens of leaders from across Africa, among them Kenya's President Uhuru Kenyatta and South Africa's Jacob Zuma. It is the first time that the TICAD conference is being held in Africa,...
(AFP (eng) 08/23/16)
Ghana's President John Mahama has pardoned a radio presenter and two panelists jailed after threatening to kill judges who had ordered the removal of names from the voters' register ahead of December elections. Communication Minister Edward Boamah said in a statement released Monday that the presidential pardons were granted for compassionate reasons. "The decision of his excellency the president to remit their sentences on compassionate grounds follows a petition submitted to him by the commentators appealing to the president to exercise his prerogative of mercy," Boamah said. In July the Supreme Court of Ghana had ordered the electoral commission to remove anyone who applied to vote using a health insurance card, ruling that it was not proof of identity for...
(AFP (eng) 08/23/16)
A satirical cartoon depicting a celebrity in Ghana schooling a British diplomat on how to speak pidgin English won laughter and praise from the crowd at a street festival in Accra. The cartoon lampoons British High Commissioner to Ghana Jon Benjamin who back in April sent a tweet criticising television star Nana Anamoah's grammar, sparking a heated debate on the West African country's colonial past. Contemporary artist Bright Ackwerh immortalised the inane moment with his signature style that recalls Mad...
(AFP 08/19/16)
Maps, road signs, sat navs, Google maps -- it all makes travelling so easy. But how do you get around in a city with few street names, where buildings have no numbers? "Cross 'Death Junction' then after about 500 metres on the left, you'll see a curtain seller. Go up the path until you see a black building -- that's where I live," says Judith Koumis, giving directions to her home in Yaounde, the Cameroon capital. "It's easy," she says,...
(AFP (eng) 08/16/16)
West African troops who have provided security to the unstable west African state of Guinea-Bissau will pull out within a year, a top official for the ECOWAS regional bloc said Monday. The troops were deployed in May 2012 following one of the nation's many coups and have since served with a mandate to protect public figures and institutions. "That's four years now. The contingent cannot stay in Guinea-Bissau forever. It's costing us a lot, and more and more often the...
(Ghana Web 08/10/16)
Head of the Economics Department at the University of Ghana, Professor Peter Quartey, has asked that government considers renegotiation of the IMF deal to reverse the conditionality which prohibits the central bank from financing government. His call comes on the back of government’s decision to abandon the sale of its fifth Eurobond of US$1 billion, as investors demand higher yield to cushion against risk in the year the country prepares to go to the polls. The fourth Eurobond issued last...
(Ghana Web 08/10/16)
The Director General of GPHA, Richard Anamoo has described the ports of the country as safer places to do business over the past years due to some security measures put in place by the Port Authority. According to him, the Port authority will in the coming weeks deploy some surveillance equipment to improve security of the port and the country at large. “We will be deploying additional facilities that we can explore and keep surveillance of the sea and the...
(Ghana Web 08/10/16)
The Ministry of Trade and Industry, on Tuesday held a national cashew policy validation workshop in Accra, as a road map to regulate the industry. Participants at the forum funded by the Cashew Industry Association of Ghana (CIAG), deliberated on the rationale for a cashew policy; components of the policy; incentives and regulatory regimes as well as challenges in the sector. The discussion also considered the production, processing, and distribution of the raw cashew nuts. The Minister of Trade and...
(Ghana Web 08/10/16)
The Minister of Transport, Fifi Kwetey has described the operational performance of Ghana’s ports from January to June, 2016 as very impressive compared to the same period last year. Taking his turn at the meet the press series in Accra, the Transport Minister revealed that container traffic between January and June last year, was 409, 120 while this year saw an increase up to 454, 858. In terms of cargo traffic by tons, he said last year recorded a total...
(Xinhuanet 08/09/16)
Ghana's ruling National Democratic Congress (NDC) declared here on Monday it was positive about winning the general elections in December. Ahead of the campaign launch Sunday, Campaign Communications Coordinator, Joyce Bawa-Mogtari, told the media that President John Dramani Mahama was ready for victory 2016. "We have the full complement of all our parliamentary candidates for all the 275 constituencies," Mogtari, who is also a Deputy Transport Minister, stated. She said the ruling party believed it had the best candidate and...
(The Wall Street Journal 08/09/16)
Deal would mark South African furniture retailer’s entry into U.S. market. Steinhoff International Holdings NV, Africa’s retailing giant but little-known outside the continent, has made its first foray into the U.S., agreeing to pay $2.4 billion for Sleepy’s owner Mattress Firm Holding Corp. Steinhoff, a family-owned furniture seller based outside Cape Town, South Africa, is called “Africa’s IKEA” for its home furnishing retail chains. Until recently, it had trained its sights on expansion in Europe, from Germany and Switzerland to...
(The Associated Press 08/06/16)
The World Health Organization and its partners shipped more than 6 million yellow fever vaccines to Angola in February to quash an emerging epidemic, yet when they asked country officials the following month what happened to the vaccines, they discovered that about 1 million doses had mysteriously disappeared. Of the shipments that did make it to Angola, some vaccines were sent to regions with no yellow fever cases, while others arrived at infected areas without syringes. In neighboring Congo, some...
(Voice of America 08/05/16)
Ghana's electoral commission will reopen the nation's voter registration list Friday so that tens of thousands of people whose names were deleted because of a problem with their identification documents can re-register in time to take part in December's general election. The country's Supreme Court had ordered the electoral commission to delete from the registry anyone who applied to vote using a National Health Insurance Scheme card. The court said the health card was not a valid proof of identity...
(Spy Ghana 08/05/16)
Plans to launch a commodities exchange and begin trading derivatives should help strengthen links between Ghana’s capital markets and the agriculture sector, to the benefit of local producers. capital marketsThe country plans to launch the Ghana Commodities Exchange (GCX) in 2017, with its regulatory framework and platform currently in development. The exchange is being developed as a public-private partnership between the Ghanaian government and a consortium of local and international investors, including Ecobank Ghana, the International Finance Corporation and 8...
(Reuters (Eng) 08/05/16)
Ghana said it will not to go ahead with a $500 million Eurobond issue, and while it gave no reason for the decision, investors said it had likely balked at the higher yields fund managers had demanded of the junk-rated credit. Rated B3/B minus, six notches below investment-grade, Ghana had planned to issue an amortising bond with a weighted average five-year tenor in conjunction with a tender offer to buy back some dollar bonds that mature next year. In a...
(Ghana Web 08/05/16)
Ghana has had to scrap its 4th Eurobond sale in as many years after investors virtually rejected the bond by demanding astronomic rates amid concerns on the health of the economy. A statement issued by the Finance Ministry announcing the scrapping of the Bond stated, “the Government will continue to build on this dialog with international investors while monitoring the markets and the IMF Board process with respect to the Third Review of the Program and will issue new notes...
(Ghana Web 08/05/16)
Fiscal challenges and the high cost of aviation fuel prior to its reduction last week has negatively impacted on Domestic Passenger Movements in the country. Figures released by the Ministry of Transport indicate that the sub-sector suffered some setback showing a decline, recording 195,447 domestic travel from January to June 2016, compared to 288,968 domestic travels under the same period in 2015. Speaking at a press conference in Accra, the Minister for Transport, Fifi Kwetey stated that the Transport Ministry...
(Reuters (Eng) 08/05/16)
In an expanse of sand 60 miles (100 km) north of Senegal's capital, two men set to work digging up tree stumps to clear space for what could soon be the biggest solar plant in West Africa. In less than a year, says developer Senergy PV SA, this shrubby lot will be covered with 96,000 gleaming solar panels from China, injecting up to 30 megawatts into the grid. It is an attractive prospect for a nation with a dire power...
(Xinhuanet 08/04/16)
Ghana's Parliament passed the Bank of Ghana (BoG) Amendment Bill here on Wednesday to deepen the autonomy of the central bank. The amendment, which has the objective to strengthen significantly the central bank's functional autonomy, governance and ability to respond to banking sector crises, was passed after the original amendment bill had been revised. "The Bill sought to plug the loopholes identified in Act 612. These loopholes were identified in consequence of an examination of current international trends and what...
(Bloomberg 08/04/16)
Ghana scrapped plans to sell its fourth Eurobond in as many years, balking at the price investors demanded amid concern that the West African nation may relax its commitment to fiscal targets ahead of parliamentary and presidential elections. The government will monitor markets and revive the sale “at the optimal time and the right conditions,” the Finance Ministry said in a statement on Thursday after concluding investor meetings in the U.K. and U.S. It also capped a buyback tender for...

Pages

(AFP (eng) 08/23/16)
Ghana's President John Mahama has pardoned a radio presenter and two panelists jailed after threatening to kill judges who had ordered the removal of names from the voters' register ahead of December elections. Communication Minister Edward Boamah said in a statement released Monday that the presidential pardons were granted for compassionate reasons. "The decision of his excellency the president to remit their sentences on compassionate grounds follows a petition submitted to him by the commentators appealing to the president to exercise his prerogative of mercy," Boamah said. In July the Supreme Court of Ghana had ordered the electoral commission to remove anyone who applied to vote using a health insurance card, ruling that it was...
(AFP 08/19/16)
Maps, road signs, sat navs, Google maps -- it all makes travelling so easy. But how do you get around in a city with few street names, where buildings have no numbers? "Cross 'Death Junction' then after about 500 metres on the left, you'll see a curtain seller. Go up the path until you see a black building -- that's where I live," says Judith Koumis, giving directions to her home in Yaounde, the Cameroon capital. "It's easy," she says, forgetting, like everyone else, that "Death Junction" has an official name -- Friendship Junction. In this west African country, like many other places on the continent, getting around town can be something of a puzzle without a firm grasp of...
(The Associated Press 08/06/16)
The World Health Organization and its partners shipped more than 6 million yellow fever vaccines to Angola in February to quash an emerging epidemic, yet when they asked country officials the following month what happened to the vaccines, they discovered that about 1 million doses had mysteriously disappeared. Of the shipments that did make it to Angola, some vaccines were sent to regions with no yellow fever cases, while others arrived at infected areas without syringes. In neighboring Congo, some...
(Voice of America 07/30/16)
The president of the African Wildlife Foundation has called on African governments to urgently address the issue of poaching, which he said is depriving the continent of its resources. But Zimbabwe says the international ban on the sale of ivory — which was imposed to discourage poaching — is hurting its interests. Winding up a five-day visit to Zimbabwe on Friday, Kaddu Sebunya said poaching is depleting Africa of its vital natural resources in the same way the slave trade...
(AFP (eng) 07/28/16)
Ghana's Supreme Court has jailed a radio presenter and his two panelists for threatening to kill judges who ordered names to be removed from the voters' register ahead of the December general elections. Judge Sophia Akuffo on Wednesday sentenced Salifu Maase alias "Mugabe" of Accra-based station Montie FM and two pro-government panelists, Allistair Nelson and Godwin Ako-Gunn, to four months' jail and a fine of 10,000 cedis (2,500 dollars). The judge said they had attacked the court's integrity by threatening...
(Myjoyonline 07/28/16)
Ghana’s Supreme Court has ordered the government to produce an agreement with the United States (US) which led to the transfer of two former detainees of the Guantanamo Bay prison to the country in January this year. The government through the Attorney General, Marietta Brew Oppong, had explained to the court that the agreement was a note verbal – a diplomatic communication written in the third person and unsigned – and was covered by an existing law, the State Secret...
(Xinhuanet 07/28/16)
Cooperation among China, the United States and Africa can effectively fight maritime piracy in Africa, a UN senior official said here on Wednesday. UN General Secretary special representative Mohamed Ibn Chambas made the remarks on the sidelines of the two-day meeting which kicked off on Wednesday. About thirty diplomats and experts from Africa, China and the United States discussed collective strategies to address maritime security, protect the blue economy in the Gulf of Guinea and promote peace in the Sahel...
(eNCA 07/27/16)
The Chinese Ambassador to Ghana, Sun Baohong, on Tuesday called on young Ghanaian graduates to help strengthen the already existing friendship between Ghana and China. She said Ghanaian graduates who studied in China were a group of elites in the country who have wide knowledge and deep understanding of China and must shoulder the responsibility to let Ghanaians understand the real China. The ambassador was speaking to young Ghanaians at a ceremony to officially inaugurate the China-Ghana Graduates Association (CGGA)...
(Business Day 07/27/16)
The rapid uptake of digital services across the continent requires that the region’s governments urgently release more spectrum for mobile broadband services. This is according to a report by global mobile network operators association GSMA, which was released on Tuesday. The lack of spectrum has hampered the rapid deployment of faster wireless network infrastructure in many parts of Africa, including SA. At the end of 2015, the continent had 557-million unique mobile subscribers, equivalent to 46% of its population. This...
(BBC News Africa 07/21/16)
Kweku Adoboli, former UBS trader convicted of fraud, has lost his appeal against being deported from the UK. His unauthorised trading lost the Swiss bank £1.4bn ($2.2bn) and in 2012 he was sentenced to seven years jail on two counts of fraud. Mr Adoboli was released in 2015, but foreign nationals sentenced to more than four years are automatically considered for deportation. He is Ghanaian but has lived in the UK since the age of 12. The decision by the...
(Xinhuanet 07/21/16)
The African Development Bank (AfDB) on Wednesday advised African countries to increase funding in water projects in the face of water crisis facing the continent. Mohamed El Azizi, AfDB Director for Water and Sanitation Department, said for Africa to achieve the Sustainable Development Goals there must be political commitment, prioritization of water and sanitation issues, as well as more budget allocation to the water and sanitation sector. El Azizi told a news conference in the east African nation's business capital...
(Ghana Web 07/20/16)
The Minister of Employment and Labour Relations, Haruna Iddrisu, has given the strongest indication that it will sanction any act of misappropriation by the Youth Employment Agency (YEA) and the National Vocational Technical Institute, NVTI in the execution of their mandates in the provision of jobs. According to the Minister, this will form part of government’s overall aim to ensure value for money in the numerous social intervention policies to reverse the rising trend of unemployment in the country. Honorable...
(Voice of America 07/19/16)
Dr. Jill Biden, wife of U.S. Vice President Joe Biden, is focusing on women’s rights, immigration and education during a visit to three African countries: Ethiopia, Malawi and Niger. During her first stop in Ethiopia, Biden visited a transit center in the capital for refugees at the International Organization for Migration (IOM). There, she met with officials at the United Nations High Commissioner for Refugees, and learned more about the refugee screening process for those seeking resettlement in the U.S...
(AFP (eng) 07/15/16)
Ghana's main opposition party has urged the government to introduce a timetable for rolling power cuts after weeks of outages that have hit homes and businesses across the country. The New Patriotic Party (NPP) on Thursday criticised President John Dramani Mahama's administration for not admitting to the problem, which has become known locally as "dumsor". "Government will not have a timetable/schedule published because that will amount to an admission of systematic load-shedding/dumsor," said NPP spokesman Nana Akomea. "But Ghanaians have been suffering a patterned load-shedding over the last few months. Government's refusal to acknowledge it...
(Voice of America 07/15/16)
The number of new malaria cases in Africa fell 42 percent from 2000 to 2015, according to the World Health Organization. The drop was due in large part to insecticide-treated mosquito nets, indoor spraying and better access to effective treatments. But this progress could be derailed by a new wave of drug-resistant malaria that's currently affecting Asia. Abdoulaye Djimde, head of the molecular epidemiology and drug resistance unit at the Malaria Research and Training Center in Bamako, Mali, said that...
(Voice of America 07/14/16)
Blackouts have hit West Africa's second-largest economy again, and Ghana's president is blaming saboteurs in Nigeria's distant oil-producing Niger Delta region for the power cuts. Ghana was once one of West Africa's fastest-growing economies, but power shortages, government overspending and drops in the price of its major commodities led to years of slowing growth and a nearly $1 billion IMF bailout. In a speech last week, President John Dramani Mahama blamed recent power outages on disruptions in the supply of Nigerian crude oil that was meant to power Ghana's plants. "Because of sabotage in Nigeria in the terminals, crude oil that we ordered in Nigeria last month
(Ghana Business News 07/14/16)
Nii Ayi Aryeetey, the President of Chartered Institute of Taxation Ghana, has called on government to intensify its tax education drive for all companies and the public for easy understanding and compliance. He commended the efforts of the Ghana Revenue Authority (GRA) in educating the masses on tax issues, but said there was more education to be done since some of the populace were still not abreast with the tax laws. Mr Aryeetey, who was the former Deputy Commissioner of...
(Graphic Online 07/14/16)
Ghana risks losing bilateral support from the United States of America (USA) if the problem of human trafficking is not addressed. This follows the classification of Ghana as a Tier 2 Watch List country in the Anti-Human Trafficking Index Report of the State Department for the second year running. It means the government did not meet the minimum standards for preventing trafficking in persons. Ghana also failed to provide evidence of increasing efforts to combat severe forms of trafficking in...
(Graphic Online 07/12/16)
The Minister of Employment and Labour, Mr Haruna Iddrisu, has said the Electoral Commission (EC) has all the financial resources it requires to conduct credible elections in November this year. Speaking in his capacity as a member of the government’s Economic Management Team (EMT) at a forum to discuss the Constitutional (Amendment) Bill yesterday, he said the EC had been granted GH¢693 million out of the GH¢822 million it needed for the conduct of the presidential and parliamentary elections. He...
(AFP (eng) 07/12/16)
Five years after the return of peace to Ivory Coast, 11,000 Ivorian refugees living in Ghana are still afraid to go home despite an upbeat economic climate in the world's top cocoa producer. While the international community deems it safe for those involved in a decade of trouble to return, Ange-Pelagie Baya told AFP: "We would prefer to die of hunger rather than go back." On Tuesday, a UN refugee agency-brokered meeting opens in Abidjan to prepare for the return...

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(AFP (eng) 08/27/16)
Japan will pour $30 billion (27 billion euros) in investment in Africa by 2018, including $10 billion in infrastructure development, Prime Minister Shinzo Abe said on Saturday at a summit in Nairobi. "When combined with the investment from the private sector I expect the total real amount to be $30 billion," Abe said at the opening of the Tokyo International Conference on African Development (TICAD). "This is an investment that has faith in Africa's future," he said. Abe will use the conference to meet dozens of leaders from across Africa, among them Kenya's President Uhuru Kenyatta and South Africa's Jacob Zuma. It is the first time that the TICAD conference is being held in Africa,...
(Ghana Web 08/10/16)
Head of the Economics Department at the University of Ghana, Professor Peter Quartey, has asked that government considers renegotiation of the IMF deal to reverse the conditionality which prohibits the central bank from financing government. His call comes on the back of government’s decision to abandon the sale of its fifth Eurobond of US$1 billion, as investors demand higher yield to cushion against risk in the year the country prepares to go to the polls. The fourth Eurobond issued last October raised US$1 billion with a yield of 10.75 percent, although the target was to raise US$1.5 billion at a 9.5 percent yield. Prof. Quartey said the condition in the US$918 million Extended Credit Facility (ECF) that requires the central...
(Ghana Web 08/10/16)
The Director General of GPHA, Richard Anamoo has described the ports of the country as safer places to do business over the past years due to some security measures put in place by the Port Authority. According to him, the Port authority will in the coming weeks deploy some surveillance equipment to improve security of the port and the country at large. “We will be deploying additional facilities that we can explore and keep surveillance of the sea and the...
(Ghana Web 08/10/16)
The Ministry of Trade and Industry, on Tuesday held a national cashew policy validation workshop in Accra, as a road map to regulate the industry. Participants at the forum funded by the Cashew Industry Association of Ghana (CIAG), deliberated on the rationale for a cashew policy; components of the policy; incentives and regulatory regimes as well as challenges in the sector. The discussion also considered the production, processing, and distribution of the raw cashew nuts. The Minister of Trade and...
(Ghana Web 08/10/16)
The Minister of Transport, Fifi Kwetey has described the operational performance of Ghana’s ports from January to June, 2016 as very impressive compared to the same period last year. Taking his turn at the meet the press series in Accra, the Transport Minister revealed that container traffic between January and June last year, was 409, 120 while this year saw an increase up to 454, 858. In terms of cargo traffic by tons, he said last year recorded a total...
(The Wall Street Journal 08/09/16)
Deal would mark South African furniture retailer’s entry into U.S. market. Steinhoff International Holdings NV, Africa’s retailing giant but little-known outside the continent, has made its first foray into the U.S., agreeing to pay $2.4 billion for Sleepy’s owner Mattress Firm Holding Corp. Steinhoff, a family-owned furniture seller based outside Cape Town, South Africa, is called “Africa’s IKEA” for its home furnishing retail chains. Until recently, it had trained its sights on expansion in Europe, from Germany and Switzerland to...
(Spy Ghana 08/05/16)
Plans to launch a commodities exchange and begin trading derivatives should help strengthen links between Ghana’s capital markets and the agriculture sector, to the benefit of local producers. capital marketsThe country plans to launch the Ghana Commodities Exchange (GCX) in 2017, with its regulatory framework and platform currently in development. The exchange is being developed as a public-private partnership between the Ghanaian government and a consortium of local and international investors, including Ecobank Ghana, the International Finance Corporation and 8...
(Reuters (Eng) 08/05/16)
Ghana said it will not to go ahead with a $500 million Eurobond issue, and while it gave no reason for the decision, investors said it had likely balked at the higher yields fund managers had demanded of the junk-rated credit. Rated B3/B minus, six notches below investment-grade, Ghana had planned to issue an amortising bond with a weighted average five-year tenor in conjunction with a tender offer to buy back some dollar bonds that mature next year. In a...
(Ghana Web 08/05/16)
Ghana has had to scrap its 4th Eurobond sale in as many years after investors virtually rejected the bond by demanding astronomic rates amid concerns on the health of the economy. A statement issued by the Finance Ministry announcing the scrapping of the Bond stated, “the Government will continue to build on this dialog with international investors while monitoring the markets and the IMF Board process with respect to the Third Review of the Program and will issue new notes...
(Ghana Web 08/05/16)
Fiscal challenges and the high cost of aviation fuel prior to its reduction last week has negatively impacted on Domestic Passenger Movements in the country. Figures released by the Ministry of Transport indicate that the sub-sector suffered some setback showing a decline, recording 195,447 domestic travel from January to June 2016, compared to 288,968 domestic travels under the same period in 2015. Speaking at a press conference in Accra, the Minister for Transport, Fifi Kwetey stated that the Transport Ministry...
(Reuters (Eng) 08/05/16)
In an expanse of sand 60 miles (100 km) north of Senegal's capital, two men set to work digging up tree stumps to clear space for what could soon be the biggest solar plant in West Africa. In less than a year, says developer Senergy PV SA, this shrubby lot will be covered with 96,000 gleaming solar panels from China, injecting up to 30 megawatts into the grid. It is an attractive prospect for a nation with a dire power...
(Xinhuanet 08/04/16)
Ghana's Parliament passed the Bank of Ghana (BoG) Amendment Bill here on Wednesday to deepen the autonomy of the central bank. The amendment, which has the objective to strengthen significantly the central bank's functional autonomy, governance and ability to respond to banking sector crises, was passed after the original amendment bill had been revised. "The Bill sought to plug the loopholes identified in Act 612. These loopholes were identified in consequence of an examination of current international trends and what...
(Bloomberg 08/04/16)
Ghana scrapped plans to sell its fourth Eurobond in as many years, balking at the price investors demanded amid concern that the West African nation may relax its commitment to fiscal targets ahead of parliamentary and presidential elections. The government will monitor markets and revive the sale “at the optimal time and the right conditions,” the Finance Ministry said in a statement on Thursday after concluding investor meetings in the U.K. and U.S. It also capped a buyback tender for...
(The Star 08/04/16)
Ghana is calling on Malaysian businesses to invest in its infrastructure sector, especially the roads and railways. Its High Commissioner to Malaysia, Benjamin Clement Eghan, said Ghana wanted Malaysian companies to help develop the roads and railways as the country had been rated as one of the top three countries in building them. “We know that you have a good railway and monorail system here. We have major interest in building a railway system from the north to the south...
(Ghana Business News 08/04/16)
Ghana’s mid-year budget review shows that all is not well with the economy. On July 25, 2016, the Ghana government requested for a supplementary budget of GH¢1.8 billion to finance expenditure. He argued that the supplementary budget was necessitated by both domestic and global developments. The Minister indicated a cash deficit of 2.5 per cent for the first five months of 2016. Moody’s citing the cash deficit of 2.5 per cent of GDP, indicates that the result exceeds the 2.2...
(Reuters (Eng) 08/03/16)
Ghana's parliament on Tuesday overwhelmingly rejected a key tenet of a $918 million aid deal with the International Monetary Fund (IMF), breaching the terms of a 3-year programme meant to fix an economy dogged by high public debt. The MPs passed the Bank of Ghana (BoG) Amendment Bill to allow central bank financing of the government's budget deficit up to a ceiling of 5 percent of the previous year's total revenue instead of the zero financing demanded by the IMF...
(Reuters (Eng) 08/03/16)
Barclays is expected to sell more of its stake in its African subsidiary in the coming weeks to take its holding in the business to less than 50% and strengthen the UK parent bank's capital. A lock-up period following a previous share sale expires on Tuesday, and Barclays is expected to sell more stock in Barclays Africa as part of its plan to deconsolidate the business. Barclays CEO Jes Staley, who took over a year ago, decided in March to...
(Citifmonline 07/29/16)
Ghana maintained its status as one of the top three countries in terms of revenue for Barclays Africa. Ghana is one of the top performing countries for Barclays’ operations in Africa. The financial results for the first half of 2016 showed that three other countries; South Africa, Zambia and Botswana contributed significantly to the Bank’s revenue which grew by 13 percent to 36.5 billion Rand for the first six months of the year. Meanwhile Barclays Africa’s credit impairments increased by...
(Cnbc Africa 07/29/16)
"One cannot get to the top by being average,” says Noletu Moti, Koeberg Nuclear Plant’s first female chief inspector. Moti who is in her mid-30s, hailing from the outskirts of East London, is taking others with her to the top by assisting young Africans who want to be where she is through Bhongoletu Youth Foundation, which she started in 2012 with the slogan ‘Live The South African Dream’. ‘’Youth development has always been a dream. If I was not doing...
(Xinhuanet 07/28/16)
Chinese investment in Ghana grows rapidly and the cooperation between the two sides is becoming more diverse in recent years, Ghana's Finance Minister Seth Terkper said Wednesday. Speaking to Xinhua prior to his trip to Beijing for a gathering of China-Africa finance ministers and foreign ministers, Terkper noted that Ghana and China agreed on "a lot of cooperation programs" in late 2014 and the upcoming meeting could be an occasion to follow up developments. He is expected to have discussions...

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(Ghana Web 08/05/16)
Former Kumasi Asante Kotoko defender, Shilla Illiasu, has said he does not foresee Hearts of Oak getting crowned champions of the 2015-16 premiership season. The 2006 FIFA World Cup star believes his former side, Kotoko, will pick up after a poor run, to win the trophy ahead of their arch rivals. Alhassan, in an interview with Accra based station, Radio Gold said; “I’m not sure Hearts of Oak can win the League. For me, they have not done enough to convince me.” “For Kotoko, I believe they can win the remaining eight games and be declared league champions.” Kotoko will have to get their season back on track, and immediately, as they trail Hearts by...
(Ghana Web 07/29/16)
Ghana coach Avram Grant has stated that the Black Stars must be at their best to qualify for the 2018 FIFA World Cup in Russia. Ghana will face Egypt, Uganda and Congo for the final round qualifier to the World Cup. Many are of the view that Ghana cannot make it considering the kind of opposition, but coach Grant who has already qualify the team for the African Cup of Nations is hopeful of leading the team despite admitting that it will be tough. “It’s a very tough group, Egypt have an impressive generation of players, and there wouldn’t be an easy game in the group, it is our target to make out from the group, and I will do...
(AFP (eng) 07/27/16)
Victories for title-holders Etoile Sahel of Tunisia and Medeama of Ghana Tuesday boosted their chances of reaching the CAF Confederation Cup semi-finals. Ahmed Akaichi scored after 70 minutes to earn Etoile a 1-0 away win over Al Ahly Tripoli in a Group B match switched from Libya to Tunis for security reasons. Etoile rose from third to first, ahead of FUS Rabat on goals scored, although their stay at the top will probably be temporary as the Moroccans play at...
(APA 07/26/16)
Ghana’s Minister for Youth and Sports Nii Lantey Vanderpujye has revealed that the Ghana Football Association (GFA) wanted to involve him in some “undercut deal” during the Black Satellites Africa Youth Championship qualifier against Senegal. The Minister said on Tuesday that the GFA requested him to put in place measures to ensure the Black Satellites defeated their Senegalese counterparts convincingly at the Cape Coast Stadium last Friday. However, the minister, a disciple of the late President Professor John Evans Atta...
(AFP (eng) 07/25/16)
Victory for hosts Medeama of Ghana over Young Africans of Tanzania Tuesday will bring them into contention for a CAF Confederation Cup semi-finals place. The clash of two goal-shy teams in Sekondi is among four midweek matchday 4 fixtures in the African version of the Europa League. Medeama are third in Group A with just two points and two goals from three matches while Young Africans occupy bottom place with one point and one goal. TP Mazembe of the Democratic...
(AFP (eng) 07/22/16)
French petroleum giant Total signed an eight-year deal to become the new sponsor of African football and its showpiece event, the Africa Cup of Nations, on Thursday. The sponsorship of the tournament will start at its next edition in Gabon from Jan 14 to Feb 5, 2017. "This partnership is a major milestone in our ongoing search for additional resources to accelerate African football’s development, bring its governance up to date, upgrade its sports infrastructure and advance its performance globally,"...
(Ghana Web 07/14/16)
Ghana have moved a place up in the latest Fifa World Ranking released on Thursday. July’s ranking sees Ghana in the 36th position – one place better than they did in June - with a corresponding increase in total accumulated points by 21. Placed 25th in July last year, Ghana now find themselves between Cote d’Ivoire (35) and Albania (37) on the ladder. The Black Stars’ last assignment was a 2-0 away win over Mauritius in the 2017 Africa Cup...
(BBC News Africa 07/08/16)
Ghana forward Andre Ayew says strong support from the fans is vital for the Black Stars' hopes of qualifying for the 2018 World Cup. Attendances at recent Ghana home games have been poor with fans perceiving the players are focused only on money rather than representing their country. High-profile rows over players' bonuses have erupted regularly in recent years. They damaged Ghana's preparations for the Africa Cup of Nations in 2012 and 2013, and at the 2014 World Cup the...
(BBC News Africa 06/27/16)
Former Ghana international defender John Paintsil has been appointed as the new assistant coach of South African Premier League club Kaizer Chiefs. The 35-year-old will now work alongside Chiefs head coach Steve Komphela, who was in charge of Paintsil at Maritzburg United two seasons ago. Paintsil's club career included stints with English sides West Ham and Fulham. He replaces former South African international Doctor Khumalo as Chiefs' assistant. Chiefs finished fifth in the 2015-2016 Premier Soccer League 25 points behind...
(Ghana Web 06/21/16)
Italian Serie B side US Salernitana 1919 have completed the signing of Ghana youth international Moses Odjer from Lega Promo side Catania. Footballmadeinghana.com can exclusively reveal that the Garnets paid an amount of 800,000 Euros to sign the central midfielder on a four-year deal on Monday Afternoon. Odjer, 20, will continue his development at Stadio Arechi in Salerno until the Summer of 2020 after spending a successful season on loan there. The former Ghana Under 20 star made 26 Serie...
(Ghana Web 06/20/16)
Strategic Committee chairman of Accra Hearts of Oak, Vincent Sowah Odotei says the team’s first half performance has not been good enough. Accra Hearts of Oak are fourth after 15 matches in the Ghana Premier League. The former Ghana Champions had a good start to the season after winning 13 points in their first five games but failed to continue in that manner, as they accumulated another 13 points in their last ten games. Coach Kenichi Yatuhashi has come under...
(Ghana Web 06/17/16)
It has been another busy week for Blues boss Gordon Boateng as he added two more players to his ever-growing squad. The new man in charge has brought back midfielder Luke Milbourne to the club. The 21-year-old (pictured above) came through the Blues' academy and was part of the first team squad in the 2013/14 season. He spent time at Ryman North sides Tilbury and Brightlingsea Regent, before returning in February, but did not make an appearance under Rod Stringer...
(Ghana Web 06/16/16)
Contrary to claims that captain of the Ghana Black Stars, Asamoah Gyan, is hobnobbing with the opposition New Patriotic Party in a bid to topple the John Mahama government, the Shanghai SIPG striker says he works only with parties in government. While parrying allegations that he is in bed with Nana Akufo-Addo and his NPP, Asamoah stated that he does not work with parties in opposition. Speaking on Accra-based Hot Fm, monitored by GhanaPoliticsonline.com, the Black Stars captain cum musician...
(AFP (eng) 06/16/16)
Demarte Pena was too young to fight in Angola's civil war, where his family played a major role, but he has fought his way to a mixed martial arts championship. Instead of an AK47, "The Wolf" as he is known in the ring, uses fists, feet and pure muscle to subdue his opponents in what is seen as one of the fastest growing sports in Africa. Pena is bantamweight champion among the new crop of mixed martial arts fighters in...
(Ghana Web 06/13/16)
Ghana midfielder Kwadwo Asamoah is eyeing a return to the Black Stars after a long spell out of the team. The versatile midfielder has been plagued by injuries for the past 18 months forcing him to miss games both for Ghana and Juventus. He has already missed the whole of 2015 with the Black Stars, a year where Ghana lost narrowly to Ivory Coast in the final of the African Nations Cup but with the 2017 edition a few months...
(APA 06/10/16)
The Ghana Under-20 team, the Black Satellites will on Sunday play their Ethiopian counterpart in a second leg of their African Youth Championship qualifier at the newly constructed Cape Coast Sports Stadium in the Central Region of Ghana. The Satellites go into the game with a 1-2 defeat from their opponents, and are poised to overturn the tables to enable them to progress to the next stage of the qualifiers. Satellites coach Yusif Basigi, has said his boys were determined...
(AFP (eng) 06/09/16)
Ghana midfielder Sulley Muntari has written a letter of apology to his national football federation (GFA) in relation to an assault at the 2014 World Cup that saw him sent home. Muntari was expelled from Ghana's squad ahead of their final group game with Portugal out in Brazil after a scuffle with a member of Ghana's coaching staff Moses Armah. "I write to express my sincere apologies to the Ghana Football Association and the entire nation for any embarrassment that...
(Ghana Web 06/08/16)
Sidelined Kumasi Asante Kotoko coach, David Duncan claims the SWAG Cup has more credibility as compared to the Ghana Premier League title. Duncan who has never won the league title but guided Kotoko to win the SWAG Cup in November last year after the Porcupine Warriors defeated regional rivals Ashantigold by a lone goal in Kumasi thinks the GPL is not credible. The Trouble Duncan without stating reasons insisted that the league title was not credible in an interview with...
(Ghana Web 06/07/16)
Chelsea are closing on the signing of Juventus and Ghana midfielder Kwadwo Asamoah, fresh reports have emerged on Tuesday. The Blues are confident of landing their number target ahead of the new season with widespread reports suggesting the Italian champions are prepared to sell the left-sided player. Incoming Chelsea boss Antonio Conte, who worked with Asamoah during his time at Juventus, is a key admirer of the hugely talented Ghana international. And the Italian believes the 27-year-old’s versatility could be...
(Ghana Web 06/03/16)
Mauritius Football Association president Sohba Mohammad Ally Samir has warned the Black Stars not to write them off in Sunday’s 2017 Africa Cup of Nations penultimate qualifier. Ghana are seeking to repeat the 7-1 first leg drubbing in Accra last June but Club M are a formidable side at home. Mauritius have won all two previous home matches are bent to add Avram Grant’s side to the list of victims. "Ghana is one of the best football countries in Africa...

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(AFP (eng) 08/23/16)
A satirical cartoon depicting a celebrity in Ghana schooling a British diplomat on how to speak pidgin English won laughter and praise from the crowd at a street festival in Accra. The cartoon lampoons British High Commissioner to Ghana Jon Benjamin who back in April sent a tweet criticising television star Nana Anamoah's grammar, sparking a heated debate on the West African country's colonial past. Contemporary artist Bright Ackwerh immortalised the inane moment with his signature style that recalls Mad Magazine's portraits. Ackwerh's cartoon was just one example of contemporary art on display at the Chale Wote street festival, a showcase for up-and-coming artists held in Ghana's capital at the weekend. "A show like this...
(Xinhuanet 08/04/16)
The Ghana Broadcasting Corporation (GBC) has announced that it will telecast the Chinese Super League for the rest of the season. The state-run broadcaster will also broadcast the upcoming German Bundesliga as well as the Italian Serie A to the viewing public every weekend. The Channel Manager of GTV Sports plus, George Lomotey, says GBC is committed to providing more airtime for exciting sporting events to help grow its viewership. "Ghanaians are enthusiastic to watch beautiful football when the new soccer season gets underway in a few days," Lomotey was quoted as saying on the corporation' s website. The Chinese Super League has drawn great interest from the soccer fraternity in Ghana after Black Stars captain Asamoah Gyan completed a...
(APA 07/18/16)
A call for an all-inclusive approach to ruling, the opening of voters register exhibition and re-registration, and the election of a new Member of Parliament (MP) for Abetifi, made the headlines in Accra Monday. The Daily Graphic said the newly elected presidential candidate of the Progressive People's Party (PPP), Dr. Papa Kwesi Nduom, has called for a system of governance where all the political parties would be taken into consideration in decision making. The same paper said the Electoral Commission...
(Voice of America 07/04/16)
To the beat of African drums, a few dozen people gathered at Dallas City Hall Friday to officially kick off the three-day African Film Festival. The event showcases films made by Africans, as well as a few made by non-Africans about issues important to different regions of the continent. City officials hailed the new festival as an expression of the increasing ethnic and cultural diversity in Texas’ second-largest city. Regina Hill Onyeibe, the Africa Liaison for the City of Dallas...
(Reuters (Eng) 06/28/16)
Africa's largest provider of pay-television services Naspers (NPNJn.J) has kept prices on the continent unchanged to halt a decline in subscriber numbers, its chief executive said on Monday. Naspers, the biggest listed firm on the continent, which sells access to popular American series and blockbuster movies in 50 countries in Africa and the Indian Ocean via its Multichoice unit, reported an 18 percent rise in full-year profit on Friday, but flagged pay-TV as a drag on its performance. Weaker currencies...
(AfricaNews 06/22/16)
Young Ghanaian actor, Abraham Attah, who starred in the ‘Beast of No Nation’ film has earned a new role in upcoming American superhero film ‘Spider-Man: Homecoming,’ deadline.com reports. ‘Spider-Man: Homecoming’ is billed as the second reboot of the Spider-Man film franchise. The film expected to be released in July 2017 would be the sixteenth film of the Marvel Cinematic Universe (MCU). With his new role, Attah joins Hollywood stars like Robert Downey Jr, Laura Harrier, Tom Holland, Marisa Tomei, Zendaya...
(Spy Ghana 06/21/16)
In a new Kobi Rana movie, actress Jackie Appiah is playing the role of a blind woman who married a cripple. According to her, it is her first time and very challenging for her. This is my first time playing the role of a blind girl in a film. Challenging and deep. She gets married to a cripple “And they lived happily NEVER after” She was spotted on set with Prince David Osei and Roselyn Ngissah Jackie Appiah has won...
(Ghana Web 06/17/16)
Head of production for Charter House, Nii Ayite Hammond has debunked rumors indicating that the prize money meant for award winners at this year's Vodafone Ghana Music Awards is ready. "Actually I don't think the money is ready and yes the musicians who won awards are yet to receive their prize money which we are frantically working on. I will let you know when it is ready", Nii Ayite told Reagan Mends of razzonline.com The VGMA prize money is an...
(Ghana Web 06/16/16)
Since the establishment of the 1992 Constitution which transitioned Ghana from military rule to a constitutional democracy, Ghana’s political landscape has seen a massive uplift not just in terms of the varied policies and viewpoint by various political parties but also the inclusion of strong-minded women. Here is a collection of the most beautiful female politicians in Ghana calling the shots in the country’s political terrain. 1. Samia Nkrumah No one can ever underestimate the natural beauty of the female...
(Ghana Web 06/13/16)
The newly appointed tourism ambassador Abeiku Aggrey Santana joined the Guba Foundation and other partner agents to donate cleaning items to a number of schools in the James Town area including Happy Days Academy, Christ the King of King Preparatory etc. The move was part of Guba’s vision to provide awareness, support and guidance to families, whereby, ensuring that the communities have access to the right information and learn to stay healthy. Speaking to media; the Tourism Ambassador hinted that...
(APA 06/13/16)
The arrival of the visiting Indian President to Ghana on Monday dominated the media in Ghana. The Daily Graphic and Ghanaian Times gave the story front-page attention and said that President Shri Pranab Mukherjee arrived in the country on Sunday on a two-day official visit to Ghana. He was met on arrival at the Kotoka International Airport by Vice President Paa Kwesi Amissah-Arthur, amidst fanfare. On arrival, Mr. Mukherjee said his visit to the country was to strengthen the cordial...
(Ghana Web 06/03/16)
Ghana's leading hype man and radio presenter, Merqury Quaye has released the highly anticipated inspirational single titled 'Remember'. The Hitz FM presenter and a professional master of ceremonies (MC), who continues to add value to his brand, will blow the minds of many who never knew his song composition and rap abilities, when they listen to the track which is already receiving massive radio airplay in the capital, Accra. The highly inspirational song was premièred by BET Awards nominee, MzVee,...
(Ghana Web 05/30/16)
Diamond Michelle Gbagonah known by all as Shatta Michy has ventured into acting alongside her hair and accessories selling business. Her husband, Shatta Wale has disclosed that his wife, Shatta Michy has always wanted to act and he’s 100% supportive of that but what he's afraid of is the romantic roles she will be playing in the movies. According to the ‘Am Ok’ hitmaker, acting is acting and he can’t be like his wife should be selective of the roles...
(Ghana Web 05/24/16)
The host Tonight with Nii Kpakpo Thompson on Viasat1 has cautioned women to be extra careful whenever they are around male celebrities. Nii KpaKpo Thompson, who made his maiden appearance on Ghana’s biggest celebrity and lifestyle show Celebrity Fanzone last Saturday, urged ladies to be careful and smart when they visit their male counterparts in their homes. Nii KpaKpo noted for wits on his Tonight Show wasted no time in delivering a few ‘punch lines’ when he spoke about the...
(Graphic Online 05/23/16)
Cocoa Brown, a new television series on the true life story of television presenter, Deloris Frimpong Manso, will start airing on some local television stations in the country from next month. Some of the popular faces featured in the series directed by Kofi Asamoah are Eunice Banini, Akorfa Edjeani, Caroline Sampson, Black Boy, Root Eye and Ahuofi Patricia. The others are Shatta Michy, Moesha Boudong, Kwaku Elliot, D Cryme, Nana Boroo and Evelyn Addo popularly known as Nina. In an...
(Ghana Web 05/20/16)
Veteran actress Akofa Edjeani has revealed that acting during her prime wasn’t paying and therefore had to set up a restaurant to make ends meet. According to her, Fali’s Hot Pot in Kanda was set up some 17 years ago to sell food to support her family. In an interview on the Cosmopolitan Mix on Joy FM with Doreen Andoh Friday, May 20, she said she simply “needed to make ends meet.” Akofa explained that she did not establish the...
(APA 05/20/16)
A $150 million solar project from the United States Trade and Development Agency to Ghana on Friday dominated the Ghanaian newspapers.The Daily Graphic said the solar project would provide electricity to 8,000 households in the Upper West Region and help promote economic growth in the area. The US Ambassador to Ghana, Robert P. Jackson, said at an agreement signing ceremony in Accra Thursday that power crisis was a great constraint to economic growth and the project is to reduce the...
(Ghana Web 05/19/16)
Mrs Elizabeth Ofosu-Agyare, Minister of Tourism Culture and Creative Arts on Tuesday launched the third Ghana Carnival 2016 in Accra. The carnival on the theme “my culture rocks” is to promote domestic tourism through culture and the creative arts. The 3-day event would start on the July 1, 2016 with a carnival float from the Obra spot at the Kwame Nkrumah interchange through some principal streets in Accra to the Independence Square for the exhibition and sale of made-in-Ghana goods,...
(Ghana Web 05/18/16)
The “burn the mic” comedy show was held last Sunday at the Ghana College of Surgeons auditorium and Ghana's King of Comedy; Derick Kobina Bonney popularly known as DKB was on the bill to perform. Yeah, your guess is as good as mine; he 'killed' his performance. I think by now we must all agree to the simple fact that Ghana comedy has grown. This was very evident last night as DKB continued to give us reasons not to doubt...
(Ghana Web 05/17/16)
Ghanaian actor James Gardner has described dancehall artiste Stonebwoy as one with a lot of international appeals and therefore believes he can promote Ghana on the international stage. The BET award winner lost out to EL on the Artiste of the Year award at the recently organised Vodafone Ghana Music Awards (VGMA). He was highly tipped to scoop that particular award though he walked away with the Best Reggae Artiste of the Year. In an exclusive interview with TV3 Network.com,...

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(The Wall Street Journal 08/09/16)
Deal would mark South African furniture retailer’s entry into U.S. market. Steinhoff International Holdings NV, Africa’s retailing giant but little-known outside the continent, has made its first foray into the U.S., agreeing to pay $2.4 billion for Sleepy’s owner Mattress Firm Holding Corp. Steinhoff, a family-owned furniture seller based outside Cape Town, South Africa, is called “Africa’s IKEA” for its home furnishing retail chains. Until recently, it had trained its sights on expansion in Europe, from Germany and Switzerland to Poland and Bulgaria, and Australasia. Last month, it agreed to pay £597 million ($793.77 million) for British retailer Poundland Group PLC, which sells most of its goods for a pound, or about $1.31 at today’s...
(Voice of America 08/05/16)
Ghana's electoral commission will reopen the nation's voter registration list Friday so that tens of thousands of people whose names were deleted because of a problem with their identification documents can re-register in time to take part in December's general election. The country's Supreme Court had ordered the electoral commission to delete from the registry anyone who applied to vote using a National Health Insurance Scheme card. The court said the health card was not a valid proof of identity for voting purposes. So the electoral commission, which compiles the voter list, said anyone previously struck from the registry would have a week to re-register, beginning Friday. A separate period later this month has been set aside for registering those...
(Bloomberg 08/04/16)
Ghana scrapped plans to sell its fourth Eurobond in as many years, balking at the price investors demanded amid concern that the West African nation may relax its commitment to fiscal targets ahead of parliamentary and presidential elections. The government will monitor markets and revive the sale “at the optimal time and the right conditions,” the Finance Ministry said in a statement on Thursday after concluding investor meetings in the U.K. and U.S. It also capped a buyback tender for...
(Voice of America 08/04/16)
On the eve of President Barack Obama’s 55th birthday, he was greeted in song with "Happy Birthday" Wednesday by about a thousand participants at this year’s Young African Leaders summit in Washington. Obama launched the Young African Leaders Initiative (YALI) six years ago to support an emerging generation of young African entrepreneurs, activists and public officials. Its flagship program, the Mandela Washington Fellowship, began two years ago with the goal of empowering young Africans through academic coursework, leadership training and...
(Voice of America 07/30/16)
The president of the African Wildlife Foundation has called on African governments to urgently address the issue of poaching, which he said is depriving the continent of its resources. But Zimbabwe says the international ban on the sale of ivory — which was imposed to discourage poaching — is hurting its interests. Winding up a five-day visit to Zimbabwe on Friday, Kaddu Sebunya said poaching is depleting Africa of its vital natural resources in the same way the slave trade...
(Cnbc Africa 07/29/16)
"One cannot get to the top by being average,” says Noletu Moti, Koeberg Nuclear Plant’s first female chief inspector. Moti who is in her mid-30s, hailing from the outskirts of East London, is taking others with her to the top by assisting young Africans who want to be where she is through Bhongoletu Youth Foundation, which she started in 2012 with the slogan ‘Live The South African Dream’. ‘’Youth development has always been a dream. If I was not doing...
(Bloomberg 07/27/16)
Tullow Oil Plc said a new project off Ghana will produce its first crude early next month as the African-focused explorer reported its first profit in three years. Production at TEN -- also known as the Tweneboa-Enyenra-Ntomme project -- will gradually increase to 80,000 barrels a day by the end of this year, the London-based company said in a statement Wednesday. TEN will help offset lower output from Tullow’s flagship Jubilee field off Ghana, which suffered a technical issue on...
(CNN 07/27/16)
A pastor is perhaps an unlikely candidate to become Ghana's first car manufacturer. But that's what Kwadwo Safo, founder of the Christ Reformed Church, and who is known locally as the "Star of Africa", has done. And the inventor has become something of a legend in Ghana. Safo started his family business, Kantanka, 20 years ago, making electrical devices from TVs and sound systems to musical instruments and sewing machines in a country with virtually no history of manufacturing. As...
(Bloomberg 07/26/16)
Yields on Ghana’s bonds surged the most in four months after Finance Minister Seth Terkper said the West Africa nation will increase spending even as a budget deficit is seen widening due to lower revenues from oil. Yields on Ghana’s $1 billion of Eurobonds due August 2023 rose 35 basis points to 10.06 percent at 2:37 p.m. in the capital, Accra, the most on a closing basis since April 5. The country’s revenue from oil in 2016 will drop to...
(Voice of America 07/23/16)
The 14th U.N. Conference on Trade and Development ended Friday in Nairobi with delegates adopting a measure giving the organization a central role in meeting U.N. sustainable development goals. UNCTAD said the quadrennial gathering also produced the beginning of an e-trade initiative, the launch of a multiple-donor trust fund on trade and productive capacity, and an agreement involving more than 90 nations on a road map for fisheries subsidies. A report released earlier in the week by UNCTAD, "Economic Development...
(BBC News Africa 07/21/16)
Kweku Adoboli, former UBS trader convicted of fraud, has lost his appeal against being deported from the UK. His unauthorised trading lost the Swiss bank £1.4bn ($2.2bn) and in 2012 he was sentenced to seven years jail on two counts of fraud. Mr Adoboli was released in 2015, but foreign nationals sentenced to more than four years are automatically considered for deportation. He is Ghanaian but has lived in the UK since the age of 12. The decision by the...
(Bloomberg 07/20/16)
Economic growth in Uganda slowed to 3.5 percent in the first three months of the year as agriculture and industrial output decelerated. Expansion in Africa’s largest coffee exporter slowed from 5.4 percent a year earlier, the Uganda Bureau of Statistics said in a report on its website on Tuesday. Growth was also slower than the revised 5.7 percent in the fourth quarter of 2015. Agriculture production, which accounts for about a quarter of gross domestic product in the East African...
(Bloomberg 07/19/16)
Ghana’s finance ministry increased its economic growth forecast for 2016 two weeks after projecting the slowest expansion in more than three decades due to a “mistake” in its calculations. West Africa’s largest economy after Nigeria will grow between 4.1 percent and 4.3 percent this year compared with 3.9 percent in 2015, Finance Minister Seth Terkper said in an interview in the capital, Accra, on Monday. The Bank of Ghana’s Monetary Policy Committee kept its benchmark rate unchanged at 26 percent...
(Voice of America 07/19/16)
Dr. Jill Biden, wife of U.S. Vice President Joe Biden, is focusing on women’s rights, immigration and education during a visit to three African countries: Ethiopia, Malawi and Niger. During her first stop in Ethiopia, Biden visited a transit center in the capital for refugees at the International Organization for Migration (IOM). There, she met with officials at the United Nations High Commissioner for Refugees, and learned more about the refugee screening process for those seeking resettlement in the U.S...
(Voice of America 07/18/16)
The electoral commission of Ghana has dismissed local media reports that the electoral body is not fully prepared to organize the anticipated November 7 presidential, parliamentary and local elections. This as parliament discusses an electoral amendment bill that will change the regular election date from December 7 to November 7. In their recent deliberation, some parliamentarians expressed concern that the electoral commission might not be ready to administer the polls on November 7 following meetings with residents of their constituencies and other election stakeholders. But, in an interview with VOA, Eric Dzakpasu — spokesman for the electoral
(Voice of America 07/18/16)
The African Union summit meeting in Kigali will be voting for a new AU commission on Monday, despite rumors of a call for the election to be delayed. There have been persistent rumors at the summit that the ECOWAS bloc of west African states is unhappy with the choice of candidates offered to succeed outgoing AU commission chairperson Nkosazana Dlamini-Zuma. There are three candidates, two of them women, former Uganda vice president Specioza Wandira Kazibwe and Botswana Foreign Minister Pelonomi...
(CNN 07/16/16)
From an Africa-shaped mega solar plant powering Kigali, Rwanda, to a massive geothermal plant harvesting the power of Kenya's hot springs, renewable energy plants are popping up around the continent. Sub-Saharan Africa is desperately short of power and roughly 620 million Africans live without a reliable source of electricity. Africa's population is expected to double by 2050 and the demand for clean energy has never been greater, says Caroline Kende-Robb, executive director, Africa Progress Panel. She believes the continent could...
(Voice of America 07/15/16)
The number of new malaria cases in Africa fell 42 percent from 2000 to 2015, according to the World Health Organization. The drop was due in large part to insecticide-treated mosquito nets, indoor spraying and better access to effective treatments. But this progress could be derailed by a new wave of drug-resistant malaria that's currently affecting Asia. Abdoulaye Djimde, head of the molecular epidemiology and drug resistance unit at the Malaria Research and Training Center in Bamako, Mali, said that...
(Bloomberg 07/14/16)
Ghanaian companies needing cash are caught in a dilemma. Faced with borrowing costs at a 13-year high, companies including the local unit of Diageo Plc and Ghana Oil Co. are turning to the stock market to raise record amounts of capital as they try to reduce debt. They could hardly have chosen a worse time. The West African nation’s benchmark stock index is in a bear market, having fallen to a three-year low as a plunge in oil prices and...
(Voice of America 07/14/16)
Blackouts have hit West Africa's second-largest economy again, and Ghana's president is blaming saboteurs in Nigeria's distant oil-producing Niger Delta region for the power cuts. Ghana was once one of West Africa's fastest-growing economies, but power shortages, government overspending and drops in the price of its major commodities led to years of slowing growth and a nearly $1 billion IMF bailout. In a speech last week, President John Dramani Mahama blamed recent power outages on disruptions in the supply of Nigerian crude oil that was meant to power Ghana's plants. "Because of sabotage in Nigeria in the terminals, crude oil that we ordered in Nigeria last month

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