Wednesday 26 July 2017

Ghana

(Business Day Ghana 07/25/17)
The Monitory Policy Committee of the Bank of Ghana (BoG) is expected to announce its decision on the current state of the economy later today. As is the norm, the BoG will also indicate whether it has revised the monetary policy rate when it meets journalists in Accra today. After the previous MPC meeting in Accra in May this year, the BoG reduced its key lending rate to commercial banks by 100 basis points to 22.5 percent, down from the previous rate of 23.5 percent. That was the second reduction for this year after the biggest rate cut in a long while in March. Ahead of today’s announcement, the MPC held its 77th regular meeting...
(Bloomberg 07/25/17)
A record number of Ghanaians are saving money using mobile phones as lenders push products to lure deposits using technology that is cheaper than building branches. Deposits with mobile-money providers jumped 25 percent to 1.57 billion cedis ($360 million) this year through April, the Accra-based central bank said in a response to questions this month. That compares with 19.6 million cedis in 2012, when the Bank of Ghana began compiling the data. Lenders including Fidelity Bank Ltd. and AFB Ghana Plc this year began offering savings products to mobile-phone users, while Ecobank Ghana Ltd. in 2016 allowed customers to buy government
(Business Day Ghana 07/25/17)
The Ghana Investments Promotion Center (GIPC), the state’s investment promotion agency, last Thursday launched the 16th edition of the prestigious Ghana Club (GC) 100 Awards in Accra. This year’s GC 100 awards are scheduled for Friday 10th November 2017 and would be organized by the GIPC in partnership with Unicef and EY. The theme for the awards is “Industrialization – A tool for job creation and accelerated economic development.” Presenting an overview of the awards at the media launch in...
(Bloomberg 07/25/17)
Ghana’s central bank has likely given the world’s best-performing stocks this quarter a boost. It cut its key interest rate for a third straight meeting on Monday and has now reduced borrowing costs this year by 4.5 percentage points to the lowest level since early 2015. That eases funding costs for companies and boosts the appeal of their shares, according to IC Securities Ltd., the country’s biggest broker. “Investors are likely to flock to the stock market,” said Randy Mensah,...
(Business Day Ghana 07/25/17)
Dr Ben Asante, the Chief Executive Officer (CEO) of Ghana Gas, has said more indigenes from the Western Region would be offered employment in the gas sector in fulfillment of the Local Content Policy. He said it has, therefore, become imperative to collaborate with the traditional authorities to chart a common path to ensure that people along the oil and gas enclave were direct beneficiaries of the project. Dr Asante gave the assurance when officials from the Ghana Ports and...
(Business Day Ghana 07/25/17)
The Monetary Policy Committee has reduced the policy rate by 150 basis points to 21 per cent from 22.5 per cent, citing lower risk to inflation and growth. “The disinflation process is still ongoing and this trend is likely to continue all through till the end of the third quarter,” Dr Ernest Addison, the Governor of the Bank of Ghana, told a press conference. “Barring any unanticipated shocks, the current stance of monetary policy and expected stability in the exchange...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in...
(AFP (eng) 07/24/17)
Senior politicians in the Economic Community of West African States (ECOWAS) on Saturday called for measures to cut the birth rate in the region in order to bring the population explosion there under control. Deputies of ECOWAS, Mauritania and Chad should be aiming to cut back the birth rate to three children per woman, said Salifou Diallo, Burkina Faso's speaker of parliament. The idea, he said, was to cut the birth rate in half by 2030, in a region that...
(Bloomberg 07/21/17)
Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates is for a 100 basis-point cut in the...
(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the...
(The Economic Times 07/20/17)
The Indian government is partnering with a Ghanaian company to build capacity of the country's professionals in providing homeopathic education and treatment and recently sent two experts from the Ministry of Ayush to train doctors and staff at the company's chain of C4C Hospitals. "We would be ready to assist through capacity-building -- be it in the form of visiting experts or through extra-curricular or sub-technical advice," Indian High Commissioner Birender Singh Yadav said of the initiative, which could also see the hospital chain expand into other West African nations. During their stay in Ghana, the two Indian homeopathic experts visited the Presidency where they met Minister of Health Kwaku Agyeman-Manu
(Ghana Web 07/20/17)
The International Monetary Fund (IMF) says a request for programme extension is crucial for them to complete Ghana’s assessment. The Fund's comment is in response to President Nana Akufo-Addo’s remark at a press encounter Tuesday that the IMF programme would not be extended. According to the President, Ghana is committed to implementing the necessary reforms under the programme, but would not extend it when it ends in April 2018. Finance Ministry clarification on the President’s remarks "Government will like to...
(Spy Ghana 07/20/17)
Mr Carlos Ahenkorah, a Deputy Minister of Trade and Industry (MoTI), has said that government was working on establishing a National Quality Council. He said such a Council would be made up of representatives of key ministries, departments and agencies, as well as the private sector to implement the National Quality Policy (NQP) and to coordinate the activities of institutions that oversee quality related activities, ensuring that health and safety of individuals and the environment were protected. Mr Ahenkorah made...
(Starrfmonline 07/20/17)
The Electoral Commission Chairperson Charlotte Osei has challenged the lawyer representing the so-called concerned staff of the electoral commission who are demanding her removal from office by the President. In a statement Wednesday, lawyers for Mrs. Osei dared the law firm of Maxwell Opoku Agyeman, to provide the full details of the petitioners or face her in court. A statement signed on the letterhead of Lawyer Opoku Agyeman’s law firm noted that a petition has been presented to the president...
(Graphic Online 07/20/17)
The Minority Leader in Parliament, Mr Haruna Iddrusu has said that the National Democratic Congress (NDC) will resist any attempt by the Akufo-Addo led government to remove the Electoral Commission Chairperson, Mrs Charlotte Osei from office. According to him, the ploy by the Akufo-Addo government to get out the chairperson of the EC from office ought to be stopped by all concerned Ghanaians. Addressing a press conference at the NDC headquarters in Accra on Thursday, Mr Iddrisu said the NPP...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread...
(Reuters (Eng) 07/19/17)
A small unit on a tower building at Ghana's Parliament caught fire on Tuesday but the blaze did not cause any major damage or disrupt the use of the facility, the national fire service said. The fire started in a printing room on the 10th floor of the "Job 600" complex and spread to an adjoining kitchenette, fire service spokesman Billy Anaglate said. "We have put it out and everything is under control. It's not a threatening situation and we...
(APA 07/19/17)
One of the offices being used by Ghanaian parliamentarians in the 'Job 600' on Tuesday evening was engulfed by fire, APA learns here. The fire started around 6.30 pm local Ghanaian time on the 10th floor of the building, that serves 275 members of parliament across the length and breadth of the country. Reports on Wednesday morning say some few MPs and staff on the floor at the time of the fire escaped unhurt owing to the timely intervention of...
(APA 07/19/17)
Ghanaian President Nana Addo Dankwa Akufo-Addo has stated emphatically that the government will not extend its deal with the International Monetary Fund (IMF). The government will end the programme within the scheduled date of completion in April 2018, he declared. Responding to a question on the impact of the programme on the government’s proposed projects, the President made it clear that the NPP government will not go beyond the April 2018 deadline. “Typically in April next year, it will be...
(Ghana Web 07/19/17)
President Nana Addo Dankwa Akufo-Addo has stated that his government has supplied over 35,000 metric tonnes of seedlings to farmers to help boost the agricultural sector in the country. According to him, the 'Planting for Food and Jobs' initiative has so far been able to register about 185,000 farmers although their target is to register about 200,000 farmers on the programme. Speaking at the media encounter on July 18, 2017, in commemoration of the Akufo-Addo administration’s six months in office,...

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(AFP (eng) 07/24/17)
Senior politicians in the Economic Community of West African States (ECOWAS) on Saturday called for measures to cut the birth rate in the region in order to bring the population explosion there under control. Deputies of ECOWAS, Mauritania and Chad should be aiming to cut back the birth rate to three children per woman, said Salifou Diallo, Burkina Faso's speaker of parliament. The idea, he said, was to cut the birth rate in half by 2030, in a region that has the highest fertility rates in the world. He called for countries to adopt measures including universal access to family planning, improved education for women and better health care of children, to bring about "a...
(Xinhuanet 07/19/17)
Ghana loses about 290 million U.S. dollars and 79 million U.S. dollars annually to poor sanitation and open defecation respectively, state-owned Ghana News Agency (GNA) reported here Tuesday. David Duncan, United Nations Children’s Fund (UNICEF) Chief of Water Sanitation and Hygiene (WASH), said Ghana also ranked lowest in sanitation levels among all lower middle income countries, although richer than a lot. Duncan, who was addressing Municipal and District Chief Executives, and other stakeholders at a meeting on the UNICEF WASH programme in the Volta Regional capital, some 167 km north east of the national capital, attributed the situation to “but commitment and prioritization.” Ghana, he noted, was one of the lowest in terms of access to sanitation worldwide, saying it...
(Ghana Web 07/19/17)
The Ghana Water Company Limited(GWCL) would require US$60m annually to undertake major system upgrades in the Accra and Tema metropolis alone, Maxwell Akosah-Kusi, a distribution engineer at the company has revealed. "To do all the various changes and distribution network and all of that, we will require an average of US$60m a year of investment, that is just Accra and Tema, so the whole country put together we are talking about huge sums of money," he told B&FT in an...
(APA 07/19/17)
An interaction President Nana Addo Dankwa Akufo-Addo had with the media dominates the press in Accra on Wednesday. The Daily Graphic says the President has assured that the economy was on the path to recovery following critical interventions put in place by his administration. He said his administration inherited a desperate economy necessitating that his administration roll out a programme to heal the economy for future growth. The Ghanaian Times said the various efforts made in the macro-economy of Ghana...
(Xinhuanet 07/18/17)
Ghana urged leaders of the African continent here late Monday to make the creation of comprehensive policies that guide access, utilization and management of land a priority. This, it said is necessary to deal with the complex land administration issues that hinder the development on the continent. Opening the African Lands Commission Conference and the African Regional Gender Workshop here, Deputy Minister for Lands and Natural Resources, Benito Owusu Bio lamented that production levels in Africa were abysmally low in...
(Reuters (Eng) 07/18/17)
Three years after he risked his life crossing the Mediterranean Sea from Libya to Italy on a small boat crammed with migrants, 22-year-old Sow Muhammed can hardly believe his luck. The former street hawker from Guinea now works as a caterer in Venice, rents his own apartment, and sends money back home regularly to his mother and siblings in the West African nation. "I am happy I came to Europe, and my family is also happy," he told the Thomson...
(Graphic Online 07/17/17)
The World Bank has advised the government to increase investment in the education sector to help produce more quality human resources that will bring to reality the country’s growth aspirations. The investments should go into improving the quality of and access to education, a Senior Director and Head of the Education Global Practice at the World Bank, Mr Jaime Saavedra Chanduvi, said in an interview. As Ghana strives to become a middle income country, Mr Chanduvi said the government would...
(Graphic Online 07/17/17)
The government has decided to abolish the National Health Insurance Scheme (NHIS) capitation policy which was first piloted in the Ashanti region in 2012. The Senior Minister, Mr Yaw Osafo Maafo made this known at the 25th Ashanti Regional New Patriotic Party (NPP) delegates congress in Kumasi on Sunday, Graphic Online’s Kwadwo Baffoe Donkor reports. The Senior Minister said formal announcement would soon be made on the abolishment. Mr Osafo Maafo said although the capitation was supposed to be piloted...
(Agence Ecofin 07/17/17)
Today, July 17th, begins in Accra a regional workshop relating to land tenure in Africa. The three-day event which will focus on Securing Community Land Rights on the Continent, is organized by the Land Policy Initiative, which is a joint programme of the tripartite consortium of the African Union Commission (AUC), the African Development Bank (AfDB) and Economic Commission for Africa (ECA), in partnership with the Rights and Resources Initiative and African land commissions. The press release announcing the event...
(AFP (eng) 07/13/17)
One person was killed and dozens more injured when a bus conveying Ghana's Asante Kotoko football team rammed into a stationary truck after a match, police said on Thursday. The crash happened at Nkawkaw, some 150 kilometres (95 miles) by road from Accra at about 10:00 pm (2200 GMT) on Wednesday, said Eastern region police spokesman Thomas Obeng Asare. The Premier League side was heading back to the central city of Kumasi after a 1-0 defeat to Inter Allies in the capital.
(APA 07/13/17)
The Ghanaian press is awash on Thursday with stories on support to the cocoa production sector. The Daily Graphic says the Swiss Government is assisting Ghana to add value to cocoa produced locally. It said the two countries have also agreed to increase trade volumes in gold and cocoa. Ghana will provide cocoa while Switzerland will supply chemicals, pharmaceuticals and other products. The Ghanaian Times states that Ghana has signed a cocoa deal with Switzerland to undertake joint projects in...
(APA 07/12/17)
Ghanaian Vice President (VP) Dr. Mahamadu Bawumia, has revealed that his administration was making plans to indroduce non-custodial sentences to help reduce congestion in the various prisons across the country. Judges will be given the option of giving such sentences to also help reduce human rights abuses recorded in the prions. He made this known when he inaugurated the Prisons Council in Accra on Tuesday. The VP who is also the chairman of the council, urged them to champion the...
(APA 07/12/17)
An undisclosed amount of money owed United Nations Children’s Fund (UNICEF) by Ghana has resulted in the shortage of polio and measles vaccines, APA learns here. As a result, nursing mothers in Ghana would have to wait until next week to have their babies vaccinated against Polio and Measles, following the shortage of the vaccines in the country. This because Ghana owed the UNICEF, the international body that procures the vaccine across the globe, huge sums of money. The vaccines...
(Cnbc Africa 07/12/17)
"Africa is an awakening giant," according to the former South African President Frederik Willem de Klerk speaking at the World Petroleum Congress in Istanbul. The leader who oversaw the transition of his country's power to Nelson Mandela said Tuesday that the future looks bright for a continent previously blighted by war, famine and a lack of infrastructure. "I believe Africa is an awakening giant and, yes, it is not performing according to what we expected soon enough, but it will...
(APA 07/11/17)
Ghana's National Security Council has warned the general public to be wary of the activities of some unscrupulous persons and organisations duping unsuspecting Ghanaians under the pretext of assisting them to secure visas and scholarships to study outside the country. A statement issued by the Council in Accra on Tuesday said that such organisations were in the habit of assuring their patrons that they would secure visas for them to study outside the country with particular reference to Eastern Europe...
(Graphic Online 07/11/17)
The Ministry of Gender, Children and Social Protection (MoGSP) organised a fashion exhibition last Friday for 400 young women who were trained by the ministry to display their locally made products. Fashion models took turns to showcase products such as men and women’s clothing, bags, dresses and bracelets made by young women from the northern part of the country. The training programme, which mainly focused on fashion, designing and creativity, was a collaboration between beneficiaries of the Livelihood Empowerment Against...
(APA 07/11/17)
Ghana's National Service Scheme (NSS) has deployed a total of 2,106 service persons to support government's drive to promote agriculture and ensure food security in the country, APA learns here. Out of a total of 91,871 service persons deployed to the various sectors, 2,106 have been penciled for the "Planting for Food and Jobs" programme, initiated by the government to fight youth unemployment and create opportunities for the country to be self-sufficient in food production. The figures released by the...
(APA 07/11/17)
Ghana's National Service Scheme (NSS) has deployed a total of 2,106 service persons to support government's drive to promote agriculture and ensure food security in the country, APA learns here. Out of a total of 91,871 service persons deployed to the various sectors, 2,106 have been penciled for the "Planting for Food and Jobs" programme, initiated by the government to fight youth unemployment and create opportunities for the country to be self-sufficient in food production. The figures released by the...
(AFP (eng) 07/11/17)
As West Africa declares war on the market for expired and counterfeit medicines, start-ups are putting quality control in the hands of patients to stop them risking their lives trying to get well. Not only can such drugs fail to treat the diseases they are bought to combat, experts say, but they may encourage resistance to antibiotics and even cause death as diseases continue to course unchecked through the body. At an April meeting in Liberia, the 15-member Economic Community...
(Voice of America 07/11/17)
In the past five years, terrorist attacks have killed nearly 20,000 people across Africa. Two groups, Boko Haram and al-Shabab, accounted for 71 percent of reported incidents and 91 percent of fatalities. But, while these and other militant groups remain active, fatal terrorist attacks across the continent are on pace to fall for a second straight year, and the total number of attacks is running far below 2012 highs. These findings are part of VOA’s original analysis of data from...

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(Business Day Ghana 07/25/17)
The Monitory Policy Committee of the Bank of Ghana (BoG) is expected to announce its decision on the current state of the economy later today. As is the norm, the BoG will also indicate whether it has revised the monetary policy rate when it meets journalists in Accra today. After the previous MPC meeting in Accra in May this year, the BoG reduced its key lending rate to commercial banks by 100 basis points to 22.5 percent, down from the previous rate of 23.5 percent. That was the second reduction for this year after the biggest rate cut in a long while in March. Ahead of today’s announcement, the MPC held its 77th regular meeting...
(Bloomberg 07/25/17)
A record number of Ghanaians are saving money using mobile phones as lenders push products to lure deposits using technology that is cheaper than building branches. Deposits with mobile-money providers jumped 25 percent to 1.57 billion cedis ($360 million) this year through April, the Accra-based central bank said in a response to questions this month. That compares with 19.6 million cedis in 2012, when the Bank of Ghana began compiling the data. Lenders including Fidelity Bank Ltd. and AFB Ghana Plc this year began offering savings products to mobile-phone users, while Ecobank Ghana Ltd. in 2016 allowed customers to buy government
(Business Day Ghana 07/25/17)
The Ghana Investments Promotion Center (GIPC), the state’s investment promotion agency, last Thursday launched the 16th edition of the prestigious Ghana Club (GC) 100 Awards in Accra. This year’s GC 100 awards are scheduled for Friday 10th November 2017 and would be organized by the GIPC in partnership with Unicef and EY. The theme for the awards is “Industrialization – A tool for job creation and accelerated economic development.” Presenting an overview of the awards at the media launch in...
(Bloomberg 07/25/17)
Ghana’s central bank has likely given the world’s best-performing stocks this quarter a boost. It cut its key interest rate for a third straight meeting on Monday and has now reduced borrowing costs this year by 4.5 percentage points to the lowest level since early 2015. That eases funding costs for companies and boosts the appeal of their shares, according to IC Securities Ltd., the country’s biggest broker. “Investors are likely to flock to the stock market,” said Randy Mensah,...
(Business Day Ghana 07/25/17)
Dr Ben Asante, the Chief Executive Officer (CEO) of Ghana Gas, has said more indigenes from the Western Region would be offered employment in the gas sector in fulfillment of the Local Content Policy. He said it has, therefore, become imperative to collaborate with the traditional authorities to chart a common path to ensure that people along the oil and gas enclave were direct beneficiaries of the project. Dr Asante gave the assurance when officials from the Ghana Ports and...
(Business Day Ghana 07/25/17)
The Monetary Policy Committee has reduced the policy rate by 150 basis points to 21 per cent from 22.5 per cent, citing lower risk to inflation and growth. “The disinflation process is still ongoing and this trend is likely to continue all through till the end of the third quarter,” Dr Ernest Addison, the Governor of the Bank of Ghana, told a press conference. “Barring any unanticipated shocks, the current stance of monetary policy and expected stability in the exchange...
(Bloomberg 07/21/17)
Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates is for a 100 basis-point cut in the...
(The Economic Times 07/20/17)
The Indian government is partnering with a Ghanaian company to build capacity of the country's professionals in providing homeopathic education and treatment and recently sent two experts from the Ministry of Ayush to train doctors and staff at the company's chain of C4C Hospitals. "We would be ready to assist through capacity-building -- be it in the form of visiting experts or through extra-curricular or sub-technical advice," Indian High Commissioner Birender Singh Yadav said of the initiative, which could also see the hospital chain expand into other West African nations. During their stay in Ghana, the two Indian homeopathic experts visited the Presidency where they met Minister of Health Kwaku Agyeman-Manu
(Ghana Web 07/20/17)
The International Monetary Fund (IMF) says a request for programme extension is crucial for them to complete Ghana’s assessment. The Fund's comment is in response to President Nana Akufo-Addo’s remark at a press encounter Tuesday that the IMF programme would not be extended. According to the President, Ghana is committed to implementing the necessary reforms under the programme, but would not extend it when it ends in April 2018. Finance Ministry clarification on the President’s remarks "Government will like to...
(Spy Ghana 07/20/17)
Mr Carlos Ahenkorah, a Deputy Minister of Trade and Industry (MoTI), has said that government was working on establishing a National Quality Council. He said such a Council would be made up of representatives of key ministries, departments and agencies, as well as the private sector to implement the National Quality Policy (NQP) and to coordinate the activities of institutions that oversee quality related activities, ensuring that health and safety of individuals and the environment were protected. Mr Ahenkorah made...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread...
(APA 07/19/17)
Ghanaian President Nana Addo Dankwa Akufo-Addo has stated emphatically that the government will not extend its deal with the International Monetary Fund (IMF). The government will end the programme within the scheduled date of completion in April 2018, he declared. Responding to a question on the impact of the programme on the government’s proposed projects, the President made it clear that the NPP government will not go beyond the April 2018 deadline. “Typically in April next year, it will be...
(Ghana Web 07/19/17)
President Nana Addo Dankwa Akufo-Addo has stated that his government has supplied over 35,000 metric tonnes of seedlings to farmers to help boost the agricultural sector in the country. According to him, the 'Planting for Food and Jobs' initiative has so far been able to register about 185,000 farmers although their target is to register about 200,000 farmers on the programme. Speaking at the media encounter on July 18, 2017, in commemoration of the Akufo-Addo administration’s six months in office,...
(Ghana Web 07/19/17)
Ghana is the 18th most attractive economy for investments flowing into the African continent -- that is according to the latest Africa Investment Index (AII) by Quantum Global’s independent research arm, Quantum Global Research Lab. In 2016, Ghana attracted a net foreign direct investment of $3.5 billion, and according to research by Quantum Global Research, Ghana’s economy has experienced strong and robust growth over the past decade, making its success a case worth emulating by its regional peers. “Industry was...
(Xinhuanet 07/19/17)
The Ghanaian government late Tuesday said it would continue with its program with the International Monetary Fund (IMF), contrary to media reports that it is pulling out of the program. In response to a question during an encounter with the media to mark his six months in office earlier Tuesday, president Nana Addo Dankwa Akufo-Addo said the IMF program is coming to an end next year with next year’s budget to be laid before parliament later this year. However, a...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30...
(Bloomberg 07/18/17)
PBC Ltd., the biggest buyer of cocoa beans from farmers in Ghana, is seeking to cut borrowing costs by arranging its first government loan guarantee in seven years. PBC is asking for a guarantee of as much as 400 million cedis ($91 million) from the government, acting Chief Executive Officer Nana Agyenim Boateng said in an interview. It’s also hired Accra-based Fidelity Bank Ltd. and the local unit of Standard Chartered Plc to market a 400 million-cedi one-year bond, mainly...
(Ghana Web 07/18/17)
President Nana Akufo-Addo is blowing loudly the horn of a seeming macro-economic stability in the first six months of his administration. In his first media encounter with selected journalists and practitioners, the president did not fail to chronicle the rather weak economic foundation he inherited and how his government has worked towards stability. According to him, key on his agenda when he was sworn into office was how to stabilize the economy which had been ravaged by debts, high inflation...
(Ghana Web 07/18/17)
President Akufo Addo has stated emphatically that the government will not extend the deal with the international Monetary Fund (IMF). He says the government will end the program within the scheduled date of April 2018. Responding to a question on the apparent impact of the program on the government’s proposed projects, the President stressed that the NPP government will not go beyond the April 2018 deadline. “Typically in April next year, it will be completed under this government,” he stated...
(Business Day Ghana 07/18/17)
Head of Department for Payment Systems at the Bank of Ghana (BoG), Dr. Settor Kobla Amediku, has indicated that movement of money from circulation into the banking system makes the country’s monitory policy very effective. This is as a result of the passage of the electronic banking issuance and agents guidelines by the central bank two years ago. According to him, the old ways of doing banking in Ghana is gradually phasing out with the advent of mobile phones. “We’ve...

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(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the tournament will continue to be held every two years and exclusively on African soil. The decision to increase the number of teams mirrors a similar one taken by UEFA to expand the European Championship, with...
(Ghana Web 07/19/17)
The technical team of the Black Stars led by Coach Kwasi Appiah will be paid before Friday according to reports in the local media. The former Al Khartoum manager and his technical staff were left unattended to by the Ministry of Youth and Sports since their appointment. The technical team have not been paid for the past two months raising various agitations in the sports media. Despite the Ministry explaining that they are not responsible for the payment, a lot argued that they could borrow to settle the technical team and reimburse when GNPC finally release funds. However, the development seems to have yielded some positive fruits with reports that GNPC has finally released the funds. According to an insider,...
(APA 07/19/17)
The Youth coach of Ghana’s Kumasi Asante Kotoko Football Club, Ernest Appau, has been handed an interim opportunity to handle the first team when they resume training, APA learns here Wednesday. The announcement has been made although the medical team is yet to declare players of the club fit enough to compete resume training and possibly continue with their league matches after they got injured in an accident last week. His appointment has become necessary because Kotoko Coach, Steve Polack...
(Ghana Web 07/18/17)
Captain of Ghana's Dwarf football team Yaw ‘Taller’ Baah claims he is a better player than senior internationals John Boye and Daniel Amartey. The Black Giants are currently in camp preparing for next month's World Dwarf Games in Ontairo, Canada. He told Ztv Sports: "I am far better than John Boye and Daniel Amartey, this no strange news because the players even know it themselves, we have met on several occasions of which they told me specifically that if i...
(APA 07/14/17)
Some prominent Ghanaians, present and past leaders have sent condolence messages to the victims of the Kumasi Asante Kotoko road crash. The team lost one official in the fatal accident on Wednesday night after honouring a mid-week league match against Inter Allies in Accra. President Nana Addo Dankwa Akufo-Addo and former President John Dramani Mahama, have expressed their heartfelt sympathies to the team and their families as well as the injured, who are recuperating in the hospital. An Assistant Equipment...
(APA 07/13/17)
The players and officials of Kumasi Asante Kotoko Football Club were involved in a motor accident on Wednesday night after the mid-week league match in Accra, resulting in the death of one person. The identity of the dead person has not been revealed, but the police have confirmed the incident in on Thursday morning in Accra. It was gathered that the bus of the Porcupine Warriors ran into another vehicle at Nkawkaw on its way back to Kumasi. One of...
(APA 07/13/17)
The WAFA football team on Wednesday took a three-point lead at the top of the league after beating Bechem United 2-0 at home. They lead the pack with 43 points and they have an outstanding match against AshantiGold FC. Aduana Stars remained in 2nd position with 40 points despite losing 1-3 to league defenders, Wa All Stars at Wa. Hearts of Oak reclaimed the 3rd position with a 2-0 drubbing of Berekum Chelsea, which propelled them to 36 points. Kumasi...
(APA 07/10/17)
The Ghana Football Association (GFA) has denied a Facebook account created in the name of the President of the association, Mr. Kwasi Nyantakyi, soliciting for funds from unsuspecting public. A statement published on the official website of the association said: "The GFA's attention has been drawn to a fake Facebook account pretending to be that of the President of the Federation, Mr. Kwesi Nyantakyi." "The said Facebook account has been soliciting money from the public claiming it is Mr. Nyantakyi...
(APA 07/07/17)
Ghana’s Black Stars have dropped one place in the latest FIFA rankings, APA learns here Friday. Ranked 50th in the World, the Black Stars dropped to the 9th position in Africa. According to the ranking, African champions Cameroon dropped four places to the 36th in the world and 5th in Africa after the poor showing at the FIFA Confederations Cup, while Nigeria dropped one place to 39th. Egypt maintained their status as Africa’s highest ranked team despite falling four places...
(APA 06/29/17)
Ghanaian league leaders, WAFA on Wednesday maintained the top position on the league table with a 1-0 victory over Elmina Sharks at Sogakope, results collated by the Ghana FA has revealed. They lead the pack with 40 points, followed by Aduana Stars 37, who also beat struggling Accra Great Olympics by a lone goal at Dormaa. The rejuvenated AshGold recorded the stunner of the day at the Accra Sports Stadium, by defeating Accra Hearts of Oak by 1-0 to move...
(APA 06/23/17)
Former coach of the Ghana Black Stars Herbert Addo is expected to be laid to rest on Saturday, APA learns here. The coach, who died in March, is expected to be buried in Accra on Saturday. Addo had coached some prominent Ghanaian teams such as AshantiGold, Kumasi Asante Kotoko, Accra Hearts of Oak and the WAFA Club, which is currently leading the Ghana Premier League table. He had on two occasions handled the senior national team as substantive and caretaker...
(APA 06/23/17)
The Black Stars of Ghana are expected to leave Accra for the United States of America to play two international friendly matches in a row, APA learns here. The players are expected to play Mexico next week and USA on July 1 respectively. The team will be traveling without deputy skipper, Andre Ayew and his brother Jordan, following their request to be excused from the two games. Some Ghanaian players, who ply their trade the US, are expected to join...
(APA 06/21/17)
The Senior national team, Black Stars, have resumed training in Accra towards two international friendly games against United States of America and Mexico respectively. They are scheduled to play Mexico on June 28 and USA on July 1. The team, under the guidance of returnee coach Kwesi Appiah, had a training session at the Accra Sports Stadium and is expected to continue training on Wednesday till they depart from Accra to the USA, where the games would be played. Coach...
(APA 06/16/17)
The round of 16 games of Ghana FA cup are expected to be honoured this weekend and Sunday with defending Champions, Bechem United, playing away to Berekum Chelsea. The tie is seen as one of the tough games following the two teams 1-1 drawn game in their premier league clash at home of United. Another game that promises more intriguing action would be between Medeama SC and Elmina Sharks at the Tarkwa T&A Park, with both teams aiming to gain...
(APA 06/14/17)
The Ghana Black Stars have been paid $5,000 each for beating the Wiala Antelopes of Ethiopia 5-0 in their AFCON 2019 qualifier in Kumasi last Sunday. Local media reports on Wednesday said that Deputy Sports Minister Puis Enam Hadzie disclosed that the figure was the new winning bonus agreed after a roundtable discussion between the Ministry, Ghana Football Association (GFA) and the Black Stars Management Committee. The bonuses were slashed from $10,000, following complaints from a section of the public...
(Apa 06/12/17)
Ghanaian soccer fans on Monday heaped praises on returnee Black Stars coach, James Kwesi Appiah, for returning the team to winning ways, after the team thumped Ethiopia 5-0 at the Kumasi Sports Stadium. The fans, are of the view that Appiah has brought in some sort of competition in camp, thereby pushing the players to give of their best. Their assertion was based on the fact that some regular players, such as Jordan Ayew and Majid Waris, were put on...
(AFP (eng) 06/12/17)
Knowledge Musona celebrated his first match as Zimbabwe captain with a sensational hat-trick in a 3-0 win over Liberia in Harare on Sunday. And it was all smiles for Ghana who crushed Ethiopia 5-0 as qualifying for the 2019 Africa Cup of Nations in Cameroon got underway this weekend. Musona's heroics sent Zimbabwe to the top of Group G on goal difference from the Democratic Republic of Congo, who overcame neighbours Congo Brazzaville 3-1 in Kinshasa a day earlier. Belgium-based...
(Apa 06/12/17)
The West Africa Football Academy (WAFA) was on Saturday held to a 0-0 drawn game at the Dansoman Carl Reindorf Park by Liberty Professionals in the 18 week premier league game. The draw ensured that WAFA still lead the pack with 36 points followed by Aduana Stars on 33 points, who have a game in hand against Kumasi Asante Kotoko on Monday (today). Hearts of Oak, who have maintained the 3rd position for some time now, beat Bolga All Stars...
(APA 06/12/17)
The Ethiopian national football team was beaten 5-0 by its Ghanaian counterpart in Kumasi on Sunday, in the first game of the group stages of the AfCON 2019 in Cameroon. Sierra Leone beat Kenya 2-1 in the same group. The Black Stars dominated the match and missed countless goal-scoring chances. It was a perfect homecoming for coach Kwesi Appiah as he successfully guided Ghana to a profoundly deserved victory over Ethiopia. Ethiopian coach Ashenafi Bekele’s first competitive game ended in...
(APA 06/12/17)
The Black Stars of Ghana on Sunday walloped their Ethiopian counterpart Wailias 5-0 in the 2019 African Cup of Nations qualifier played at the Baba Yara Stadium in Kumasi. Skipper Asamoah Gyan scored the first goal in the 10th minute of the game while John Boye added another in 14th minute. Emmanuel Ofori a new entrant fetched the third goal in the 41st minute. Striker Raphael Dwamena, who earned a call from the Stars Coach James Kwesi Appiah scored a...

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(Ghana Web 07/20/17)
The former British High Commissioner to Ghana, Jon Benjamin is known for possibly being the most socially interactive diplomat the country has ever had. He has been the face of trolls, sharp and sometimes heated debates with Ghanaian, given his very vocal opinions on the issues in Ghana. While some have called him out for being too ‘nosy’ when it comes to Ghanaian issues, others have been impressed with his dedication to being as open, opinionated and interactive with Ghanaians on social media, as possible. Jon Benjamin is therefore familiar with the popular names in the media circles, forming cheerful acquaintances with most of them. On Tuesday, at the maiden press briefing with the President...
(Ghana Web 07/18/17)
Nana Tonardo, a friend of Deloris Frimpong-Manso and a star of Delays’ Afia Schwarzenegger TV series has stated that Delay jumps from one hotel to another seeking for white men. Deloris Frimpong-Manso and Nana Tonardo’s friendship has come to an end–following a message Delay posted on Instagram, claiming she takes nobodies like Tornado and turn them into somebodies. Tonardo who is an actor on Delay’s Afia Schwarzenegger TV Series has thrown shots at Delay, rubbishing Delay’s claims and going on to say she brags a lot when she really has nothing. In an interview with OKAY FM, Tornado slammed Delay–saying Delay did not do anything for him and that for all the 6 years they worked together, Delay didn’t even...
(Ghana Web 07/17/17)
After starring in Delay’s ‘Afia Schwarzenegger’ TV Series for 6 years, Nana Tornado has called it quits labelling the producer, fake, disloyal and a cheat. According to the actor, he was never remunerated despite his hard work in making the show very popular. Although he enjoyed putting smiles on the faces of fans, he regrets dealing with Delay because she has been very ungrateful and annoyingly bossy. Speaking to JDK and Mimi Kay on Radio XYZ, Nana Tornado recounted sending...
(APA 07/17/17)
The arrest of 15 suspected cop killers dominates the headlines of Ghanaian newspapers on Monday. The Daily Graphic, Ghanaian Times and others said after an attack on two police officers at Abeka Lapaz, a suburb in Accra, which led to the death of one Constable Daniel Owusu, the police have arrested 15 people in an operation to arrest the killers. The suspects include a 27-year old female and some other Nigerian nationals. The Greater Accra Regional Police Command on Sunday...
(APA 07/11/17)
The highlights of some key international relations issues between Ghana, the United States of America and Qatar dominate the headlines of Ghanaian newspapers on Tuesday. The Heritage newspaper says, "Ghana 'raps' Donald Trump", saying the move is to allow Ghanaian deportees to return home with their belongings. It states that documented Ghanaians living in the USA can heave a sigh of relief, following a move by the Ghanaian Government to negotiate with the Trump administration to allow the rest of...
(Ghana Web 06/07/17)
‘POTATO Potahto”, an African marital comedy of errors, based in Ghana and directed by one of Africa’s best known female directors, Shirley Frimpong Manso, took the centre stage at the just concluded Cannes film festival, France when it premiered. The premiere launched the film into the global film market, as it was greeted with a resounding ovation at the festival. “Potato Potahto” tells the story of a divorced couple whose plans to share their matrimonial home ended in chaos after...
(AFP (eng) 05/26/17)
Entertainment | France | film | festival | Cannes | Zambia | witchcraft Cannes, France | AFP | Friday 5/26/2017 - 14:01 UTC+3 | 615 words by Katy Lee Being accused of witchcraft is no laughing matter in Africa -- but movie director Rungano Nyoni decided a dose of humour was just what was needed to tackle a problem rampant in parts of the continent. Set in Zambia, the sharp satire "I Am Not A Witch" has premiered to strong...
(Xinhuanet 04/18/17)
Africa's diaspora is playing a big role in the economic transformation of the continent, the UN said on Tuesday. UN Population Fund (UNFPA) Regional Director Dr Julitta Onabanjo told Xinhua in Nairobi that remittances are important source of income for many African families. "The diaspora therefore complements government efforts to lift many families out of poverty," Onabanjo said on the sidelines of the First Africa-China Conference on Population and Development. Onabanjo said that Africans in the diaspora also bring back...
(Ghana Web 04/04/17)
Actress Bibi Bright is fending off criticisms that she was appointed to the Creative Arts Council as a reward for campaigning for the New Patriotic Party (NPP) in the 2016 elections. The actress, now a secretary to the Creative Arts Council, says she campaigned for the party and its flagbearer, now president, Nana Addo Dankwa Akufo-Addo because she wanted change just like most Ghanaians. The Minister of Tourism, Arts and Culture, Catherine Afeku on March 1 inaugurated the Creative Arts...
(APA 03/16/17)
The appointment of deputy ministers and brutalities meted out by some airmen in the Western Region of Ghana dominate the Ghanaian media on Thursday. Img : Ghana: Press focuses on deputy ministerial appointments, brutality by airmen The Daily Graphic says 50 deputy ministers have been appointed by President Nana Addo Dankwa Akufo-Addo to serve in the various ministries. This according to the newspaper, brings the total number of ministers appointed to 110. It gave the breakdown of total nominations made...
(Ghana Web 03/03/17)
Although she admits she has a ‘kankpe’ body, she never feels shy to ‘flaunt’ when necessary and has not been bothered about any comment which may seem to mock her. On a number of occasions, Wiyaala has shared photos of herself at beaches in her bikinis but it appears the latest one, taken at a beach in Plettenburg Bay, South Africa has attracted folks and they really want to rock her body! According to Wiyaala who appeared on Hitz FM’s...
(AFP (eng) 03/02/17)
A film raging against colonialism and the exploitation of Africa wowed viewers at the continent's top cinema festival Wednesday, winning shouts of approval at a screening packed to bursting point. "The African Storm" tells the story of an African president who nationalises businesses run by racist, cynical Western executives. Directed and produced by its Beninese star Sylvestre Amoussou, it tackles several hot-button issues including an exit from the CFA franc currency, closer ties with Russia and China as opposed to...
(Ghana Web 02/28/17)
Quata Budukusu, the king and originator of tongue- twisting rap has promised to bring musical death on Ghanaian rapper Sarkodie and his entire crew. Quata Budukusu who took Sarkodie’s latest single ‘Shout’ as a lyrical war (beef) to him says he would not relent in responding to the latter accordingly. The ‘Ginger’ hitmaker quickly took to Facebook to make this announcement. He wrote; “Finally the Coward Sark, grew some balls to throw shots at me….interesting…. Time to bring Death to...
(AFP (eng) 02/27/17)
An African road movie about four women wowed its audience Sunday as it kicked off the Panafrican cinema and television festival (Fespaco), a showcase for the continent's burgeoning film industry. "Borders" ("Frontieres") directed by Apolline Traore, a Fespaco laureate in 2013, sweeps across Africa as its protagonists journey through Senegal, Mali, Burkina Faso and Benin on their way to Nigeria. Along the way the women -- Ivorian, Senegalese, Burkinabe and Nigerian actresses -- are spared nothing as they are beset...
(AfricaNews 01/18/17)
Ghana’s powerful Ashanti kingdom escorts its queen mother to the ancestral village. The funeral of Nana Afia Kobi Serwaa Ampem II, who died last year at 111 years is a big deal in the gold-rich Ashanti region of the country. The queen, known as the ‘Asantehemaa,’ was the mother of the current overlord of the kingdom, Otumfuo Osei Tutu II. Nana Afia Kobi, was the 13th Ashanti Queen and reigned for 39 years. But beyond the really colourful and deeply...
(Graphic Online 01/18/17)
The Indian High Commission will hold a “Festival of India-Matri” from January 25 to March 15, 2017 to commemorate 60 years of a strong bond of friendship between India and Ghana. The festival will be held in collaboration with Ghana’s Ministry of Tourism, Ministry of Foreign Affairs and Regional Integration, as well as the governments of both countries. The Indian High Commissioner, Mr Birender Singh, announced this at a press briefing held in Accra. He said the festival to be...
(AFP (eng) 01/04/17)
A fancy dress New Year festival that began almost a century ago in Ghana as a searing satire of colonial life is still thriving today, with hundreds of people dressing up and donning masks. On the streets of Winneba, a fishing town a two-hour drive from the capital Accra, a four-metre tall Santa Claus waving Ghana's flag marches past a wolf shimmying to the jazzy beats played by a brass band. Children wearing matching pink and white cowboy outfits decorated...
(Ghana Business News 11/30/16)
Dr Edward Omane Boamah, Minister of Communications, has urged the media to develop interest in judgement debts issues in its totality and stop being selective over the matter in their discourse. He urged the media to do further investigations on the on-going “Woyome Judgement Debt Saga” and bring the outcome to their listeners and audience. The Minister who was speaking during his turn of the meet-the-press series in Accra, said the media was silent on the numerous judgement debt cases...
(APA 11/30/16)
The press in Accra on Wednesday focused on the call for peace by three eminent Ghanaians and the declaration by President John Dramani Mahama that the elections will be peaceful. The Daily Graphic publishes that three eminent Ghanaians, Togbe Afede XIV, President of the National House of Chiefs, Chief Imam, Sheik Osman Nuhu Shaributu, and Most Rev. Philip Naameh, the President of Catholic Bishops Conference, have called on voters to preserve the peace of the nation. They made the appeals...
(APA 11/17/16)
The Supreme Court of Ghana giving a former attorney general the chance to orally examine a businessman in an effort to recover a controversial judgment debt dominates the headlines of Ghanaian newspapers on Thursday. The Daily Graphic, Daily Guide, Ghanaian Times and others all gave the story a front page attention with diverse headlines. They said the Supreme Court on Wednesday granted permission to Mr. Martin Alamisi Amidu, to orally examine Mr. Alfred Agbesi Woyome over his assets. It has...

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(Bloomberg 07/25/17)
A record number of Ghanaians are saving money using mobile phones as lenders push products to lure deposits using technology that is cheaper than building branches. Deposits with mobile-money providers jumped 25 percent to 1.57 billion cedis ($360 million) this year through April, the Accra-based central bank said in a response to questions this month. That compares with 19.6 million cedis in 2012, when the Bank of Ghana began compiling the data. Lenders including Fidelity Bank Ltd. and AFB Ghana Plc this year began offering savings products to mobile-phone users, while Ecobank Ghana Ltd. in 2016 allowed customers to buy government
(Bloomberg 07/25/17)
Ghana’s central bank has likely given the world’s best-performing stocks this quarter a boost. It cut its key interest rate for a third straight meeting on Monday and has now reduced borrowing costs this year by 4.5 percentage points to the lowest level since early 2015. That eases funding costs for companies and boosts the appeal of their shares, according to IC Securities Ltd., the country’s biggest broker. “Investors are likely to flock to the stock market,” said Randy Mensah, the head of global markets at IC Securities in the capital, Accra. He sees the GSE Composite Index extending its advance to 50 percent by the end of 2017, from 32 percent so far this year. The Bank of Ghana...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in...
(Bloomberg 07/21/17)
Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates is for a 100 basis-point cut in the...
(The Economic Times 07/20/17)
The Indian government is partnering with a Ghanaian company to build capacity of the country's professionals in providing homeopathic education and treatment and recently sent two experts from the Ministry of Ayush to train doctors and staff at the company's chain of C4C Hospitals. "We would be ready to assist through capacity-building -- be it in the form of visiting experts or through extra-curricular or sub-technical advice," Indian High Commissioner Birender Singh Yadav said of the initiative, which could also see the hospital chain expand into other West African nations. During their stay in Ghana, the two Indian homeopathic experts visited the Presidency where they met Minister of Health Kwaku Agyeman-Manu
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30...
(Bloomberg 07/18/17)
PBC Ltd., the biggest buyer of cocoa beans from farmers in Ghana, is seeking to cut borrowing costs by arranging its first government loan guarantee in seven years. PBC is asking for a guarantee of as much as 400 million cedis ($91 million) from the government, acting Chief Executive Officer Nana Agyenim Boateng said in an interview. It’s also hired Accra-based Fidelity Bank Ltd. and the local unit of Standard Chartered Plc to market a 400 million-cedi one-year bond, mainly...
(Bloomberg 07/17/17)
Ghana’s cocoa regulator is warning farmers that the smuggling of beans from neighboring Ivory Coast may jeopardize efforts to keep producer payments unchanged despite a slump in prices. The regulator in Ivory Coast, the world’s biggest producer, expects that as much as 70,000 metric tons of the country’s crop will be smuggled across its borders by the time the season ends in September, a person familiar with the matter said July 5. Ivory Coast cut farmers’ pay by 36 percent...
(Bloomberg 07/13/17)
A surge in Ghana’s oil output this year may do little to ease the West African nation’s fiscal strains as crude prices are lower than what it budgeted, eroding the gains from extra production. This year’s average Brent crude price of $52 a barrel is below the $56 forecast in the budget, which could complicate the state’s plans to narrow the fiscal deficit. Output is set to climb by more than a third in 2017 from a year earlier after...
(Voice of America 07/11/17)
In the past five years, terrorist attacks have killed nearly 20,000 people across Africa. Two groups, Boko Haram and al-Shabab, accounted for 71 percent of reported incidents and 91 percent of fatalities. But, while these and other militant groups remain active, fatal terrorist attacks across the continent are on pace to fall for a second straight year, and the total number of attacks is running far below 2012 highs. These findings are part of VOA’s original analysis of data from...
(Bloomberg 07/10/17)
Many cell phone companies are rethinking their headlong rush into the continent. Only Orange is staying the course. Back when African countries were auctioning off mobile licenses by the boatload to serve the region’s young, tech-savvy population, investing in the continent’s fast-growing economies seemed like a no-brainer. Some of the world’s biggest wireless carriers rushed in. Now they’re wondering if they made a mistake. Increasing government and regulatory scrutiny, as well as a lack of expansion opportunities in sub-Saharan Africa,...
(Voice of America 07/04/17)
GENEVA — The U.N. children’s fund warns tens of thousands of malnourished children are at great risk in Yemen, Somalia and South Sudan, which are on the brink of famine. UNICEF reports an estimated 4.7 million children in the cholera-stricken countries are malnourished. Of these, UNICEF spokesman Christofe Boulierac tells VOA, more than one million are suffering from severe acute malnutrition. “Let me remind you that a child who is suffering from severe acute malnutrition are nine times more likely...
(RFI(EN) 07/04/17)
New tax rules in Israel could leave hundreds of African migrants worse off than they are. In May, the government introduced a new deposit law, enabling the governemnt to take 20 percent of migrants' salaries each month and place it out of reach. The money can only be accessed once they leave the country. Rights groups say the policy is designed to force them out of the country. "We're not pressuring you to leave but will make your life miserable...
(Voice of America 06/21/17)
WASHINGTON DC — On June 5, Saudi Arabia and its allies, including Egypt, the United Arab Emirates and Bahrain, cut diplomatic ties with Qatar, accusing it of funding extremist groups such as the Muslim Brotherhood and Islamic State. In response, Qatar said it was the victim of a policy of “domination and control” by its larger neighbor and that Saudi Arabia was, in fact, the one responsible for backing extremism. So what is the truth? Fundamentalist strains of Islam, including...
(Bloomberg 06/01/17)
If you thought Ivory Coast’s record cocoa crop was enough to keep the bear run going, you may need to rethink. Cocoa futures almost halved from July to April on expectations that a bumper crop in top producer Ivory Coast would add to a global glut. But prices have since rebounded 15 percent, with the July contract surging by a record on Tuesday. And there are other signs the recovery may continue. With processing margins at the highest in more...
(Washington Post 05/31/17)
The old man’s house had become a camp for the displaced. In the back yard, groups of women boiled water for rice. Small children skittered across the dirt, running into the bedroom, where they careened around the long, skinny legs of Elijah Karama. “Because of the conditions, they are mine to take care of,” said Karama, 57, more tired than proud. By conditions, he meant Boko Haram’s destruction of vast areas of northeastern Nigeria, and the hunger crisis that has...
(Bloomberg 05/29/17)
Ghana has recorded its biggest cocoa harvest in three years, according to two people familiar with the matter, after better weather conditions boosted output in the world’s second-biggest grower. Graded and sealed deliveries from the so-called main crop, the larger of two annual harvests, reached 812,153 metric tons by May 25, said the people, who asked not to be named because the information isn’t public. That compares with a combined 778,043 tons for the whole of the 2015-16 season, when...
(Bloomberg 05/24/17)
Ghana is seeking better terms for its debt-support program with the International Monetary Fund as the parties discuss an extension of the agreement beyond an April 2018 deadline, according to a person familiar with the matter. The government will agree to extend the deal in return for a bigger credit facility, said the person, who asked not to be named because the information isn’t public. West Africa’s second-biggest economy will take longer than planned to meet the objective of the program, the Washington-based lender said May 19. Finance Minister Ken Ofori-Atta didn’t answer calls seeking comment. A spokesman for the IMF didn’t immediately respond to requests for comment by phone and email.
(Bloomberg 05/23/17)
Ghana’s new central bank governor cut the benchmark interest rate to the lowest level in almost two years to help spur economic growth as inflation pressures ease. The Bank of Ghana reduced its key rate to 22.5 percent from 23.5 percent, Governor Ernest Addison told reporters in Accra, the capital, after chairing his first meeting of the Monetary Policy Committee since replacing Abdul Nashiru Issahaku early last month. That’s the lowest rate since July 2015. Five out of eight economists...
(Bloomberg 05/19/17)
Ghana’s new central bank governor, Ernest Addison, is likely to cut interest rates to an almost two-year low in his debut decision. The former African Development Bank economist, in office since the end of March, has room to act on Monday after the inflation rate fell from a record and the currency stabilized. That would extend an easing cycle started by former Governor Abdul Nashiru Issahaku, who cut borrowing costs at two of the six monetary policy committee meetings that...

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