Ghana | Africatime
Friday 30 September 2016

Ghana

(Ghana Web 09/30/16)
China-Ghana trade volume hit a historic high of US$6.6 billion in 2015, increasing by 18.2 per cent on year-on-year basis. China’s direct financial investment in Ghana reached US$174 million, the Chinese Ambassador to Ghana, Madam Sun Baohong, has disclosed. At the 67th anniversary celebration of the Founding of the People’s Republic of China, she noted that the value of China’s newly signed contracts in Ghana reached around US$1.3 billion, ranking high in Africa. She said the Cape Coast Sports Stadium and Sunon Asogli Power Plant Phase II Project had been completed successfully. The Ambassador announced that the new major cooperation projects, such as Phase II of the Gas Infrastructure Development Project, Sunon Asogli Zero Discharge...
(News24 09/30/16)
Ghana's president John Dramani Mahama has been cleared of corruption over the gift of a car from a construction firm bidding for a lucrative government contract, a report concluded on Thursday. The Commission on Human Rights and Administrative Justice (CHRAJ) said in a 78-page report that a claim of conflict of interest against Mahama "has not been substantiated". "Full or further investigations into the allegations are not warranted," it added. Mahama's government has not denied receiving the four-wheel-drive vehicle from a contractor in Burkina Faso, who had previously built a wall on Ghanaian Embassy land in Ouagadougou. But it dismissed opposition suggestions the car was a bribe to get a road-building contract in Ghana's Volta region that the same contractor...
(Ghana Web 09/30/16)
Despite approving the release of the third instalment of funds to Ghana under the Extended Credit Facility, the IMF says there are still fiscal risks in the economy that need attention. Acting Chair and IMF Deputy Managing Director, Tao Zhang, said Ghana’s implementation of the Extended Credit Facility is broadly satisfactory, but the economic outlook remains challenging. “There has been progress in stabilizing the macroeconomic situation and reducing financial imbalances, but fiscal risks remain elevated,” he said in a release...
(Citifmonline 09/30/16)
The Chamber of Petroleum Consumers Ghana (COPECGH)will today petition President John Dramani Mahama to come out with new policies aimed at reducing sulphur content in imported diesel from 3,000 parts per million(ppm) to 10 ppm. A recent study conducted by Swiss NGO Eagle Eye , in collaboration with ACEP revealed that imported diesel from Europe to African countries including Ghana had sulphur level higher than 1,500 ppm, which is 150 times the European limit of 10 ppm, hence harmful. Speaking...
(Ghana Web 09/30/16)
Insurance will cover the loss of production and claims regarding the interruption of business at one of West Africa's biggest oil fields, Tullow Oil has said. Tullow, which has offices in London, said its insurance covers the interruption of business at the Jubilee oil field in Ghana. Tullow last year sent development plans for the offshore Jubilee field to the Ghanaian government. Earlier this year, the company said part of the Kwame Nkrumah Floating Production Storage and Offloading facility positioned...
(Reuters (Eng) 09/30/16)
Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades, due to continuing woes in the continent's largest economies of South Africa and Nigeria, a World Bank report said Thursday. Africa has been one of the world's fastest-growing region's over the past decade, but a commodities slump has hit its oil and mineral exporters hard, bringing growth down to 3 percent in 2015. However, other countries — including Ethiopia, Rwanda...
(AFP (eng) 09/29/16)
Ghana's President John Dramani Mahama has been cleared of corruption over the gift of a car from a construction firm bidding for a lucrative government contract, a report concluded Thursday. The Commission on Human Rights and Administrative Justice (CHRAJ) said in a 78-page report that a claim of conflict of interest against Mahama "has not been substantiated". "Full or further investigations into the allegations are not warranted," it added. Mahama's government has not denied receiving the four-wheel-drive vehicle from a contractor in Burkina Faso, who had previously built a wall on Ghanaian Embassy land in Ouagadougou.
(Myjoyonline 09/29/16)
The Executive Board of the International Monetary Funds (IMF) has approved the disbursement of some $116 million to Ghana. This was after the board completed the third Extended Credit Facility review on Ghana in Washington DC today. This will pave the way for some $116 million to be transferred to Bank of Ghana's account within the next 10 days. The funds are expected to support the Ghana's balance of payment. Sources say the approval was influenced by some undertaking by...
(Citifmonline 09/29/16)
President John Mahama has indicated that the country’s rating on the international scene has improved because of the good leadership he has provided over the past few years. According to him, the success of the bilateral talks and negotiations on his recent visit to the United Nations General Assembly and France points to the goodwill and strong image Ghana has among her peers on the foreign front. President Mahama made these comments on his return to Accra last night from...
(APA 09/29/16)
The Executive Board of the International Monetary Fund (IMF) has approved Ghana's economic performance after its Third Review of an Extended Credit Facility to the country, APA learns here. The approval was given on Wednesday following discovery by a fact finding team dispatched to the country on several occasion discovered that government made significant gains in completing the performance actions. A statement from the Ministry of Finance said, "To expedite action towards the completion of the Third Review by satisfying...
(Xinhuanet 09/29/16)
The government of Ghana has stepped up its program to lessen the debt burden of State Owned Enterprises (SOEs) on the national budget, Minister for Finance Seth Terkper said here on Wednesday. "We are working towards sound balance sheets for the SOEs. It is the goal of government to strengthen the balance sheets of these SOEs, and to work with you on a transformation program which we have started already," he told the CEOs of the SOEs at a forum...
(APA 09/29/16)
Ghana has been given the mandate to organise the 2018 Women's Africa Women Cup of Nations, APA learns here. The country is said to be the only one to have submitted a bid to host the tournament and was given the mandate on the close on nomination Tuesday, The Chronicle newspaper reports on Thursday. This will be the first time Ghana would host the tournament since its inception in 1998. Ghana is a giant in African female soccer and has...
(Xinhuanet 09/29/16)
A coalition of civil society groups in Ghana on Wednesday embarked on a "silent protest" to demand immediate action on the passage of the Right to Information (RTI) bill. Some members of the RTI coalition, led by the Ghana branch of the Commonwealth Human Right Initiative, were seen in orange shirts with placards along selected streets in Accra in a protest to request President John Dramani Mahama to take action before the current parliament elapses. The coalition seeks to impress...
(APA 09/29/16)
Guinean national, Almamy Kabele and Ghanaian Kwesi Nyantakyi were elected Thursday to the Council of the International Football Federation (FIFA) for the transitional period running from 30 September 2016 to 16 March 2017 (6 months), during the extraordinary general meeting of the African Football Confederation (CAF) held in Cairo, Egypt. After the vote, Kabele, also second vice president of CAF and a member of the Executive Committee of the continental body, garnered 37 votes. He was followed by Nyantakyi who...
(APA 09/29/16)
The expected filing of nominations towards the December general elections and a proposal for purging of the judiciary against corruption on Thursday made the newspaper headlines in Accra. The Graphic said the Electoral Commission (EC) would start receiving nomination forms picked by the various presidential and parliamentary aspirants from Thursday (today). Sixteen (16) of them belong to political parties while seven (7) are independent candidates. The Ghanaian Times however said a Justice of the Supreme Court, Mr. Justice William Atuguba,...
(AFP (eng) 09/29/16)
In a bustling market in Abidjan, women browse through a bewildering array of intricately patterned wax-print fabrics, each of which has a unique and sometimes quirky name. "Eye of my rival" is one which has an eye-like motif, while another is known as "capable husband". Another bale of this brightly coloured fabric is labelled "jealousy". Each print has a name and comes in different colours, so you could have a "capable husband" in red, green or a white and the...
(Bloomberg 09/28/16)
Ghana’s economy grew at the slowest pace in two years in the second quarter as mining and oil output slumped. Gross domestic product expanded 2.5 percent in the three months through June 30 from a year earlier, compared with a revised 4.8 percent in the previous quarter, Philomena Nyarko, government statistician at the Ghana Statistical Service, told reporters in the capital, Accra, on Wednesday. The economy grew 0.6 percent from the first three months of the year, she said. Defects...
(Ghana Web 09/28/16)
The flag bearer of the opposition New Patriotic Party (NPP) Nana Addo Dankwa Akufo-Addo has vowed to make life comfortable for the ordinary Ghanaian if he wins the 2016 Elections. In a feature in the Financial Times of London titled, “Ghana’s opposition leader taps into the thirst for change,” Nana Addo is quoted on a campaign tour in Saboba, northern region as saying that this “is not a poor country… [my government will look] after Ghana and not after our...
(Bloomberg 09/28/16)
MTN Group Ltd., Africa’s largest mobile-phone operator by sales, is considering selling about $500 million in shares of its Ghana business, according to people familiar with the matter. The company is approaching high-net-worth individuals in the country about a private placement of a 35 percent stake in the Ghana unit, valuing it at about $1.5 billion, the people said, asking not to be identified because the deliberations are private. No final decisions have been made, they said. The sale would...
(Reuters (Eng) 09/28/16)
Ghana's gold output rose 38.6 percent in the first half of 2016 to 1,993,850 ounces from 1,438,656 ounces a year ago, boosted mainly by new mining operations, the Ghana Chamber of Mines said on Tuesday. Africa's second-largest gold miner after South Africa earned $2.43 billion from gold in the first six months compared with $1.75 billion in the same period last year, the Chamber said. Ghana's active gold miners include Newmont Gold Corporation and South Africa's Gold Fields. Asanko Gold...

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(Xinhuanet 09/29/16)
A coalition of civil society groups in Ghana on Wednesday embarked on a "silent protest" to demand immediate action on the passage of the Right to Information (RTI) bill. Some members of the RTI coalition, led by the Ghana branch of the Commonwealth Human Right Initiative, were seen in orange shirts with placards along selected streets in Accra in a protest to request President John Dramani Mahama to take action before the current parliament elapses. The coalition seeks to impress upon the government to speed up work on the passage of the over-aged bill which has been in and out of parliament for over a decade. The bill has been around since 1999 but despite...
(AFP (eng) 09/27/16)
Yemeni authorities on Monday deported at least 220 African illegal immigrants, mainly Ethiopians, from the southern port city of Aden, security officials said. The migrants had been rounded up over the past two weeks and were put on a ship bound for Somalia, from where they apparently came, an official in Aden said. The boat left from the port at Aden's refinery. Hundreds of illegal migrants have arrived in south Yemen over the past few weeks despite the ongoing war that has ravaged the country. In Shabwa province, east of Aden, authorities have arrested more than 500 African migrants over the past two weeks, security chief Awad al-Dahboul said. Officials in south Yemen have claimed that some migrants are being...
(Voice of America 09/26/16)
Huge orange flames and plumes of smoke filled the air at Nairobi National Park in April, a sobering image as 105 tons of elephant ivory and 1.35 tons of rhino horn were destroyed. Kenya conducted the event to demonstrate that ivory has no value to anyone except elephants. President Uhuru Kenyatta pledged his country's support for a complete ban of the ivory trade at the conference for the global conservation body known as CITES, which opens Saturday in Johannesburg, South...
(Graphic Online 09/23/16)
The first batch of Hajj pilgrims flown directly from the Tamale International Airport to Jeddah, Saudi Arabia, to perform this year’s Hajj has successfully arrived back home. The Boeing 747-400 series flight that touched down at the Tamale Airport at exactly 3.39p.m. yesterday was greeted with fanfare amid shouts of ‘Allahu Akbar,’ Allahu Akbar,’ (Praise be to Allah). The historic moment was not lost on residents of the metropolis who were mostly Muslims who were in various designs and shapes...
(BBC News Africa 09/22/16)
Nelson Mandela said that the teachings of Mahatma Gandhi had helped to topple apartheid in South Africa. Emperor of Ethiopia, Haile Selassie I, was also an admirer. "Mahatma Gandhi will always be remembered as long as free men and those who love freedom and justice live," he said. Yet not all African leaders are inspired by the man known as the "Father of India". An online petition, which has been signed by more than 1,000 people, has been started by...
(Graphic Online 09/22/16)
The first flight from Jeddah touched down at the Tamale Airport at 11am on Thursday September 22, 2016. In all four flights are scheduled to touch down at the Tamale Airport from Thursday to Sunday, September 25, 2016. The first batch of 500 out of 1,500 pilgrims were airlifted directly from the Tamale Airport to Jedda on Friday, August 19,2016 which coincided with the inauguration of the first phase of the upgrading of the Tamale Airport to an international one...
(AFP (eng) 09/22/16)
Global conservationists and policymakers meet in South Africa from Saturday to chart a way forward in the fight against escalating wildlife trafficking that could drive some species to extinction. The plight of Africa's rhino and elephants, targeted for their horns and tusks, is expected to dominate 12 days of talks in Johannesburg on the Convention on International Trade in Endangered Species (CITES). Illegal wildlife trade is valued at around $20 billion a year, according to CITES, and is ranked the...
(AL Jazeera 09/21/16)
Campaigners urge removal of Indian social activist's statue from university, saying he was racist towards black people. A group of Ghanaian academics, students and artists is calling for the removal of a statue of Mahatma Gandhi from a university campus, saying the leader of India's independence movement was racist towards black people. Gandhi spent 21 years (1893-1914) in South Africa and fought against the indiscrimination of Indians living in the country. His statue was erected at the University of Ghana...
(Citifmonline 09/16/16)
Government has introduced a 700-dollar leave allowance for all military officers on external peace keeping operations. Speaking at the 2016 Ghana Military Academy graduation parade at Teshie in Accra on Friday, September 16, President John Mahama said government had taken note of some challenges confronting military personnel in the country and had taken various measures to address some of them. “I have approved a recommendation from the military high command and the Armed Forces Council for the introduction of a...
(Citifmonline 09/15/16)
The Chamber of Pharmacy Ghana, has appealed to the government and all stakeholders involved to address the concerns of the Government and Hospital Pharmacists Association (GHOSPA) immediately. In a statement signed by its Chief Executive Officer, Anthony K Ameka, the Chamber of Pharmacy Ghana, said that the breakdown in negotiations comes at a point when the services of pharmacists are needed critically. “The Chamber of Pharmacy Ghana sees the breakdown in negotiations between the parties as most unfortunate, especially at...
(Xinhuanet 09/13/16)
The Confucius Institute at the University of Ghana plans to expand its presence on social media platforms to promote Chinese culture. Josephine Dzahene-Quarshie, co-director of the institute, said they now saw social media as one of the biggest platforms to spread Chinese language and culture to interested Ghanaians. She told Xinhua Thursday that there was widespread acceptance of Chinese culture in Ghana, with many Ghanaians enrolling to learn the language and cultural activities such as Tai Chi and Martial Arts...
(Voice of America 09/13/16)
Representatives of 30 African countries have been working this week to map out ways to stop the continent’s mass rural exodus at the Forum on Rural Development in Yaounde. Emmanuel Afessi works on his desk top at Odja center in Cameroon's capital, Yaounde, where he is training 30 youths on information technologies at the center he created when he returned from the United States a year ago. "Africa needs to produce its own knowledge, its own equipment and that is...
(AFP (eng) 09/11/16)
Faith Lawson carefully backs a large silver pick-up truck through cones placed on the red soil of a military camp in Ghana's capital, Accra. As she checks her mirrors and slowly reverses, 14 young women standing in military formation look on. Two months ago, the 24-year-old had never even gripped a steering wheel and was frightened by the very thought of driving. Now she hopes to become a professional driver and break into a male-dominated vocation after completing a programme...
(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...
(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,...
(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...

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(Ghana Web 09/30/16)
China-Ghana trade volume hit a historic high of US$6.6 billion in 2015, increasing by 18.2 per cent on year-on-year basis. China’s direct financial investment in Ghana reached US$174 million, the Chinese Ambassador to Ghana, Madam Sun Baohong, has disclosed. At the 67th anniversary celebration of the Founding of the People’s Republic of China, she noted that the value of China’s newly signed contracts in Ghana reached around US$1.3 billion, ranking high in Africa. She said the Cape Coast Sports Stadium and Sunon Asogli Power Plant Phase II Project had been completed successfully. The Ambassador announced that the new major cooperation projects, such as Phase II of the Gas Infrastructure Development Project, Sunon Asogli Zero Discharge...
(Ghana Web 09/30/16)
Despite approving the release of the third instalment of funds to Ghana under the Extended Credit Facility, the IMF says there are still fiscal risks in the economy that need attention. Acting Chair and IMF Deputy Managing Director, Tao Zhang, said Ghana’s implementation of the Extended Credit Facility is broadly satisfactory, but the economic outlook remains challenging. “There has been progress in stabilizing the macroeconomic situation and reducing financial imbalances, but fiscal risks remain elevated,” he said in a release. He acknowledges that managers of the economy are continuing their fiscal consolidation program and aim to strengthen policy and reform implementation, but said further efforts are needed to address revenue shortfalls, while expenditure control measures should be fully enforced to...
(Citifmonline 09/30/16)
The Chamber of Petroleum Consumers Ghana (COPECGH)will today petition President John Dramani Mahama to come out with new policies aimed at reducing sulphur content in imported diesel from 3,000 parts per million(ppm) to 10 ppm. A recent study conducted by Swiss NGO Eagle Eye , in collaboration with ACEP revealed that imported diesel from Europe to African countries including Ghana had sulphur level higher than 1,500 ppm, which is 150 times the European limit of 10 ppm, hence harmful. Speaking...
(Ghana Web 09/30/16)
Insurance will cover the loss of production and claims regarding the interruption of business at one of West Africa's biggest oil fields, Tullow Oil has said. Tullow, which has offices in London, said its insurance covers the interruption of business at the Jubilee oil field in Ghana. Tullow last year sent development plans for the offshore Jubilee field to the Ghanaian government. Earlier this year, the company said part of the Kwame Nkrumah Floating Production Storage and Offloading facility positioned...
(Reuters (Eng) 09/30/16)
Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades, due to continuing woes in the continent's largest economies of South Africa and Nigeria, a World Bank report said Thursday. Africa has been one of the world's fastest-growing region's over the past decade, but a commodities slump has hit its oil and mineral exporters hard, bringing growth down to 3 percent in 2015. However, other countries — including Ethiopia, Rwanda...
(Myjoyonline 09/29/16)
The Executive Board of the International Monetary Funds (IMF) has approved the disbursement of some $116 million to Ghana. This was after the board completed the third Extended Credit Facility review on Ghana in Washington DC today. This will pave the way for some $116 million to be transferred to Bank of Ghana's account within the next 10 days. The funds are expected to support the Ghana's balance of payment. Sources say the approval was influenced by some undertaking by...
(Citifmonline 09/29/16)
President John Mahama has indicated that the country’s rating on the international scene has improved because of the good leadership he has provided over the past few years. According to him, the success of the bilateral talks and negotiations on his recent visit to the United Nations General Assembly and France points to the goodwill and strong image Ghana has among her peers on the foreign front. President Mahama made these comments on his return to Accra last night from...
(APA 09/29/16)
The Executive Board of the International Monetary Fund (IMF) has approved Ghana's economic performance after its Third Review of an Extended Credit Facility to the country, APA learns here. The approval was given on Wednesday following discovery by a fact finding team dispatched to the country on several occasion discovered that government made significant gains in completing the performance actions. A statement from the Ministry of Finance said, "To expedite action towards the completion of the Third Review by satisfying...
(Xinhuanet 09/29/16)
The government of Ghana has stepped up its program to lessen the debt burden of State Owned Enterprises (SOEs) on the national budget, Minister for Finance Seth Terkper said here on Wednesday. "We are working towards sound balance sheets for the SOEs. It is the goal of government to strengthen the balance sheets of these SOEs, and to work with you on a transformation program which we have started already," he told the CEOs of the SOEs at a forum...
(AFP (eng) 09/29/16)
In a bustling market in Abidjan, women browse through a bewildering array of intricately patterned wax-print fabrics, each of which has a unique and sometimes quirky name. "Eye of my rival" is one which has an eye-like motif, while another is known as "capable husband". Another bale of this brightly coloured fabric is labelled "jealousy". Each print has a name and comes in different colours, so you could have a "capable husband" in red, green or a white and the...
(Bloomberg 09/28/16)
Ghana’s economy grew at the slowest pace in two years in the second quarter as mining and oil output slumped. Gross domestic product expanded 2.5 percent in the three months through June 30 from a year earlier, compared with a revised 4.8 percent in the previous quarter, Philomena Nyarko, government statistician at the Ghana Statistical Service, told reporters in the capital, Accra, on Wednesday. The economy grew 0.6 percent from the first three months of the year, she said. Defects...
(Bloomberg 09/28/16)
MTN Group Ltd., Africa’s largest mobile-phone operator by sales, is considering selling about $500 million in shares of its Ghana business, according to people familiar with the matter. The company is approaching high-net-worth individuals in the country about a private placement of a 35 percent stake in the Ghana unit, valuing it at about $1.5 billion, the people said, asking not to be identified because the deliberations are private. No final decisions have been made, they said. The sale would...
(Reuters (Eng) 09/28/16)
Ghana's gold output rose 38.6 percent in the first half of 2016 to 1,993,850 ounces from 1,438,656 ounces a year ago, boosted mainly by new mining operations, the Ghana Chamber of Mines said on Tuesday. Africa's second-largest gold miner after South Africa earned $2.43 billion from gold in the first six months compared with $1.75 billion in the same period last year, the Chamber said. Ghana's active gold miners include Newmont Gold Corporation and South Africa's Gold Fields. Asanko Gold...
(AFP (eng) 09/28/16)
When farmer Isaac Tondo fell on lean times in Liberia's long rainy season, his brother in the capital sent 8,000 Liberian dollars (US$87) to his Lonestar mobile money account, ensuring his children's school fees would still be paid. Across Africa more and more people -- from urban start-ups to hard-up villagers -- are now spending, saving and planning for the future through banking services offered by mobile phone companies. And experts believe growth and poverty reduction will follow, if certain...
(Citifmonline 09/27/16)
CitiBusinessNews.com can confirm the board of the International Monetary Fund (IMF) will meet tomorrow, September 28, 2016 to finalize on whether or not to approve the third tranche of funding for Ghana under the Extended Credit Facility (ECF) Programme. A Deputy Minister of Finance Mona Quartey who confirmed this to CitiBusinessNews.com said, Ghana last week provided in full the data requested to enable the IMF board meet and make a decision on the country’s ECF programme. Speaking to Citi Business...
(Citifmonline 09/27/16)
International Credit Ratings Agency, Moody’s has revised the outlook on Ghana’s Long Term Bond Ratings from Negative to Stable. The rating agency has also affirmed the rating at B31. Moody’s cited significant fiscal deficit reduction and success in implementing structural reforms over the past year as well as reduced government liquidity risk on the external side following the issuance of the US$750m Eurobond, the proceeds of which are earmarked for debt repayments as some of the key drivers for the...
(Citifmonline 09/27/16)
Finance Minister Seth Terkper is optimistic government’s decision to issue its first local dollar denominated bond in the country will yield good results. According to him, there are enough US dollars in the country, to help government meet its target of raising over 50 million dollars locally. Speaking to Citi Business News after a local road show to encourage investors to participate in the bond, Mr. Terkper explained that government has dollar commitments to undertake, as well as, fulfill some...
(Ghana Web 09/26/16)
The Governor of the Bank of Ghana (BoG), Dr Abdul Nashiru Issahaku, has given the strongest indication that with the debt owed to commercial bank by the Volta River Authority (VRA) now partly settled, performance in the banking sector will improve tremendously. The government, at the beginning of this month, made an upfront payment of GH¢250 million to the lender banks as part of the Legacy Debt owed by the VRA. Under the agreement reached with the banks, the remaining...
(Ghana Web 09/26/16)
The Bank of Ghana (BoG) is projecting that the cedi may appreciate significantly against the dollar and other foreign currencies like the British Pound and Euro at the last quarter of 2016. According to the Governor of the Central Bank Dr. Abdul Nashiru Issahaku inflows from the 1.8 billion cocoa syndicated loan, 750 million Eurobond recently issued and other inflows from donor partners will further stabilize the cedi. The cedi has seen some level of stability this year (2016). Data...
(Ghana Web 09/26/16)
The Ghana Railway Workers Union has called off its strike after reaching an agreement with the National Labour Commission. The Union declared a strike, 11 days ago after all efforts aimed at getting their salary arrears and pension contributions from the Ministry of Finance failed. Speaking to Citi Business News, the General Secretary of the Railway Workers Union, Godwill Ntarmah said that the union decided to call of the strike as a result of a partial release of the funds...

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(Ghana Web 09/30/16)
Hearts of Oak board member Dr. Nyaho Nyaho Tamakloe says nobody can force Ghana Football Association Kwesi Nyantakyi out of office, adding the newly elected FIFA Council member should be allowed to leave at his own peril. There have been calls from top football officials as well as football loving Ghanaians for Nyantakyi to relinquish his position as head of the country’s football federation following his election onto the FIFA executive council. Nyantakyi pulled 31 votes to pip Ahmad of Madagascar to the second spot, becoming the first Ghanaian to serve on the world football’s powerful cabinet. “I have known Kwesi Nyantakyi to be a hard working person and as results of that, I relinquished...
(APA 09/29/16)
Ghana has been given the mandate to organise the 2018 Women's Africa Women Cup of Nations, APA learns here. The country is said to be the only one to have submitted a bid to host the tournament and was given the mandate on the close on nomination Tuesday, The Chronicle newspaper reports on Thursday. This will be the first time Ghana would host the tournament since its inception in 1998. Ghana is a giant in African female soccer and has made 11 appearances out of 12 since the inception of the female soccer fiesta. The Black Queens have also appeared in various finals but have failed to lift the coveted trophy, placing second to Nigeria on most occasions.
(APA 09/29/16)
Guinean national, Almamy Kabele and Ghanaian Kwesi Nyantakyi were elected Thursday to the Council of the International Football Federation (FIFA) for the transitional period running from 30 September 2016 to 16 March 2017 (6 months), during the extraordinary general meeting of the African Football Confederation (CAF) held in Cairo, Egypt. After the vote, Kabele, also second vice president of CAF and a member of the Executive Committee of the continental body, garnered 37 votes. He was followed by Nyantakyi who...
(BBC News Africa 09/26/16)
Italian side Juventus confirmed that their Ghana midfielder Kwadwo Asamoah is expected to be out of action for six weeks after suffering a knee injury on Saturday. Both Asamoah and Juventus' Italian defender Daniele Rugani were injured following the 1-0 win at Palermo in Serie A. The Italian champions and league leaders confirmed the news on their website after both players underwent tests at the J Medical centre on Sunday. "Asamoah has suffered a rupture of the medial meniscus ligament...
(Ghana Web 09/20/16)
Ghana defender Kwadwo Asamoah suffered racial abuse during Juventus' 2-1 derby defeat to Inter Milan on Sunday, it has been reported. The Ghanaian suffered racial abuse from a section of Milan's hardcore fans known for their fascist leanings. The 27-year-old was booed anytime he touched the ball with the Italian federation expected to come down heavy on the club. Asamoah played full throttle as the champions suffered their first defeat of the season at the Stadio Giuseppe Meazza.
(AfricaNews 09/19/16)
The agreement on African games signed in Cairo over the weekend between the African Union and the Association of National Olympic committees of Africa will be implemented after validation by the Africa Union commission. The two parties are expected to mobilise renowned African athletes and the best teams to help raise their level of performance. Sources say the African Union will continue to manage the African games while the Union of African Sports Confederations will take care of its technical...
(Ghana Web 09/16/16)
West Bromwich Albion are looking at the possibility of signing free agent Ghana midfielder Sulley Muntari to augment their squad after failing to bring in Malaga star Ignacio Camacho this summer. Manager Tony Pulis is looking at the prospect of signing the former AC Milan and Inter enforcer to bring some stability at the heart of the park. Muntari is a free agent after his contract with Saudi side Al Ittihad expired and hugely regarded as the man who could...
(Spy Ghana 09/16/16)
President of the Ghana Boxing Authority, Peter Zwennes, says the Nii Lante Vanderpuije-led Sports Ministry has misplaced priorities. According to the legal luminary, the countless promises by past ministers reflect the impossibility to implement any new idea in the sports sector. “But for Vanderpuije, he is being optimistic with his promises but as an individual it is beyond him. “Truth be told, the Sports Ministry has no priorities. We keep hearing countless promises from minister after minister, saying we will...
(Ghana Web 09/14/16)
Seria A side Cagliari are still interested in signing free-agent Ghana midfielder Sulley Muntari. The Italian side are struggling with limited options at the heart of the park due to injuries suffered by Moldova international Artur Ionita. Daniele Dessena is still unvailable to force the Cagliari to rethink with their current situation, according to Corriere dello Sport. Youngster Alessandro Deiola has been farmed out on loan to gain first-team experience with the Rossoblu pinpointing the Ghanaian as a possible replacement...
(Ghana Web 09/14/16)
Seria A side Cagliari are still interested in signing free-agent Ghana midfielder Sulley Muntari. The Italian side are struggling with limited options at the heart of the park due to injuries suffered by Moldova international Artur Ionita. Daniele Dessena is still unvailable to force the Cagliari to rethink with their current situation, according to Corriere dello Sport. Youngster Alessandro Deiola has been farmed out on loan to gain first-team experience with the Rossoblu pinpointing the Ghanaian as a possible replacement...
(Ghana Web 09/13/16)
New Edubiase player Prince Antwi and the club’s Chief Executive Alex Akummey have been invited by the GFA Ethics Committee for alleging that GFA president, Kwesi Nyantakyi was involved in a match-fixing. According to the complaint, in an interview with a Bekwai-based radio station (DASS FM), the player allegedly stated that the Match day 5 fixture between his club and Wa All Stars was compromised by the Ghana FA boss. The Ethics Committee has commenced investigations to ascertain the veracity...
(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...
(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...
(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...

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(APA 09/29/16)
The expected filing of nominations towards the December general elections and a proposal for purging of the judiciary against corruption on Thursday made the newspaper headlines in Accra. The Graphic said the Electoral Commission (EC) would start receiving nomination forms picked by the various presidential and parliamentary aspirants from Thursday (today). Sixteen (16) of them belong to political parties while seven (7) are independent candidates. The Ghanaian Times however said a Justice of the Supreme Court, Mr. Justice William Atuguba, has charged members of the bench to report people offering bribes to them to the law enforcement agencies. That, he explained, was a means to 'fumigate' the judiciary of corruption. He was speaking at the...
(APA 09/24/16)
The Ghanaian press on Saturday focused on the warning fired to the police personnel by Inspector General of Police (IGP) John Kudalor to stay away from partisan politics ahead of the December 7 polls dominated the media landscape in Ghana. The Daily Graphic and Ghanaian Times newspapers captured the warning in their front pages with Graphic reporting that with two and -half -months to the general election, IGP John Kudalor has reiterated the commitment of the Police Administartion to sustain the peace and stability of the country before, during and after the December 7 general election.
(AFP (eng) 09/23/16)
A century after the project was conceived in the throes of racial segregation, and a few months before the first black US president leaves office, the African American Museum in Washington opens Saturday. Here are key facts about the first national museum devoted entirely to showcasing African Americans' life, history and culture. - 1915: A project 101 years old The effort to open, in the US capital, a museum dedicated to the history of the black community "began more than...
(Graphic Online 09/22/16)
Irene Logan is mostly known for performing love songs but she entered a moment of spiritual upliftment when she mounted the stage during the Celebration of His Grace concert last Saturday. The Afro Pop artiste obviously surrended her all as she did a cover of Winfield S. Weeden’s I Surrender All and led patrons through a time of praise and worship at this year’s concert held at the National Theatre Celebration . That is not all, with hands lifted high as...
(Reuters (Eng) 09/22/16)
Ghana's President John Mahama told global leaders on Wednesday they should learn a thing or two from the King of Pop Michael Jackson and finally turn his song "Heal the World" into reality. Mahama, who is to seek re-election later this year, touched on some of the more serious issues affecting his continent ranging from the plight of African migrants to growing xenophobia across the world and regional leaders clinging to power. But having been born the same year as...
(Spy Ghana 09/16/16)
Record producer and CEO of The Last Two Music Group, Hammer has said he is working to bring beefing rappers, Sarkodie and M.anifest together again. A few months ago, Ghana woke up to two of its best rappers at each other’s throat lyrically. Most people are of the view that the Sarkodie-Manifest beef began when M.anifest released his “godMC” track. Others also believe it started when Sarkodie unleashed his “Bossy” track because in the said track, he took a swipe...
(Ghana Web 09/13/16)
Kumawood star, Kwadwo Nkansah, affectionately called Lilwin has disclosed that he would have still been a ‘mortuary man’ if he hadn’t been an actor or musician. He said prior to his current status, he worked as a mortuary attendant at the age of 21. The comedian indicated that he would have been carrying dead bodies to earn income if he had not pursued his dream of acting and putting smiles on the faces of many in Ghanaian homes. Speaking on...
(The East African 09/10/16)
The Pan African Federation of Filmmakers (FEPACI) is seeking to raise $200 million from partners over the next two years to fund the continent's audiovisual and cinema sector. The funds will be used to establish centres of excellence in the five regions - East Africa, North Africa, Central Africa, Southern Africa, and West Africa -- and the locations will be decided by the African Council of Ministers of Culture. The money will be used to improve the quality and quantity...
(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...
(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...
(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,...

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(Bloomberg 09/28/16)
Ghana’s economy grew at the slowest pace in two years in the second quarter as mining and oil output slumped. Gross domestic product expanded 2.5 percent in the three months through June 30 from a year earlier, compared with a revised 4.8 percent in the previous quarter, Philomena Nyarko, government statistician at the Ghana Statistical Service, told reporters in the capital, Accra, on Wednesday. The economy grew 0.6 percent from the first three months of the year, she said. Defects on the FPSO Kwame Nkrumah, the vessel used for production, storage and offloading crude at the Jubilee oil field, adversely affected crude oil and gas output in the first half of 2016, the Ministry of...
(Bloomberg 09/28/16)
MTN Group Ltd., Africa’s largest mobile-phone operator by sales, is considering selling about $500 million in shares of its Ghana business, according to people familiar with the matter. The company is approaching high-net-worth individuals in the country about a private placement of a 35 percent stake in the Ghana unit, valuing it at about $1.5 billion, the people said, asking not to be identified because the deliberations are private. No final decisions have been made, they said. The sale would help MTN meet conditions it agreed to last year when it spent $67.5 million for the right to use spectrum that can carry high-speed mobile data for customers in Ghana. The company was granted a 15-year license for fourth-generation spectrum...
(BBC News Africa 09/26/16)
Italian side Juventus confirmed that their Ghana midfielder Kwadwo Asamoah is expected to be out of action for six weeks after suffering a knee injury on Saturday. Both Asamoah and Juventus' Italian defender Daniele Rugani were injured following the 1-0 win at Palermo in Serie A. The Italian champions and league leaders confirmed the news on their website after both players underwent tests at the J Medical centre on Sunday. "Asamoah has suffered a rupture of the medial meniscus ligament...
(Voice of America 09/26/16)
Huge orange flames and plumes of smoke filled the air at Nairobi National Park in April, a sobering image as 105 tons of elephant ivory and 1.35 tons of rhino horn were destroyed. Kenya conducted the event to demonstrate that ivory has no value to anyone except elephants. President Uhuru Kenyatta pledged his country's support for a complete ban of the ivory trade at the conference for the global conservation body known as CITES, which opens Saturday in Johannesburg, South...
(Bloomberg 09/23/16)
Ghana’s central bank expects mergers and acquisitions among lenders to increase as regulators prepare new rules that will boost the amount of cash that they need to set aside. Capital levels in the industry are too weak to support the government’s target of reaching gross domestic product growth of at least 8 percent a year, Bank of Ghana Governor Abdul Nashiru Issahaku said by phone on Friday. The bank will publish recommendations of a committee working on a review of...
(BBC News Africa 09/22/16)
Nelson Mandela said that the teachings of Mahatma Gandhi had helped to topple apartheid in South Africa. Emperor of Ethiopia, Haile Selassie I, was also an admirer. "Mahatma Gandhi will always be remembered as long as free men and those who love freedom and justice live," he said. Yet not all African leaders are inspired by the man known as the "Father of India". An online petition, which has been signed by more than 1,000 people, has been started by...
(Bloomberg 09/21/16)
Patchy rainfall in West Africa is threatening cocoa production in Ghana as conditions remain too dry in the world’s second-largest producer, according to the $500 million hedge fund Armajaro Asset Management LLP. Rains that usually benefit crops before the start of the harvest in October haven’t covered top growers Ivory Coast and Ghana uniformly, said Anthony Ward, co-founder of the London-based firm and portfolio manager of the CC+ fund, which trades mainly cocoa and coffee. Western and northwestern Ivory Coast...
(AL Jazeera 09/21/16)
Campaigners urge removal of Indian social activist's statue from university, saying he was racist towards black people. A group of Ghanaian academics, students and artists is calling for the removal of a statue of Mahatma Gandhi from a university campus, saying the leader of India's independence movement was racist towards black people. Gandhi spent 21 years (1893-1914) in South Africa and fought against the indiscrimination of Indians living in the country. His statue was erected at the University of Ghana...
(Bloomberg 09/19/16)
Ghana will start its first foreign-exchange auction by inviting bids for the proceeds from the cocoa regulator’s syndicated loans as the West African country seeks to liberalize its currency markets. “We will start with a rules-based market-driven auction,” Bank of Ghana Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. “Banks will come to the auction and bid for the proceeds.” The auctions will start after the Ghana Cocoa Board raised dollar-denominated loans from international banks for paying...
(Financial Times 09/19/16)
Fall from an African star performer to IMF bailout has prompted populist policies from both parties. Bumping along potholed roads and fording rivers where bridges were promised, but never built, Nana Akufo-Addo is on the election trail in Ghana’s rural north. Atop wooden platforms and inside the “palaces” of traditional chiefs, Mr Akufo-Addo, the leading opposition candidate, strikes a populist tone as he promises factories, dams and large cash transfers to every constituency. This “is not a poor country”, he...
(Bloomberg 09/19/16)
Ghana’s central bank kept its benchmark interest rate unchanged for a fifth consecutive meeting after inflation accelerated in August. The Bank of Ghana held the rate at 26 percent, Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. That was in line with the forecast of six of the eight economists in a Bloomberg survey. One said the rate would be cut by 100 basis points and another forecast a 200 basis-point reduction. Inflation accelerated to 16.9 percent...
(AL Jazeera 09/19/16)
The line outside Papaye is long, as on any other muggy night in Accra, the capital of Ghana, but the place looks closed. Anyone who hasn’t been to the first chain restaurant in the country before would have a hard time understanding what people are queuing for. All the lights are out in the Abeka neighbourhood, including the neon yellow sign advertising ‘Ghana’s Total Food Care Company,’ a shining symbol of Ghana’s middle class - when there is electricity. As...
(Voice of America 09/16/16)
Ghana’s President John Dramani Mahama, from the ruling National Democratic Congress, main opposition leader Nana Addo Dankwa Akufo-Addo from the New Patriotic Party and other presidential candidates have picked up nomination documents from the Electoral Commission ahead of the December 7 general election. Parliamentary candidates also began picking up their nomination forms. The candidates are required to pay $12,505 while parliamentary candidates pay $2,501 as nomination fees in addition to meeting other requirements outlined by the electoral commission.
(Bloomberg 09/16/16)
Ghana is meeting investors as the nation prepares to sell bonds for as much as $100 million in its first issuance of foreign-currency debt to domestic buyers, according to a person familiar with the matter. The country will offer the bonds at a rate of 5 percent to 7 percent, the person said, who asked not to be identified as the information isn’t public. The bond will be issued in the place of cedi notes of the same value, as...
(Voice of America 09/15/16)
Ghana’s main opposition New Patriotic Party (NPP) says it will launch the party's manifesto on October 18 to outline its plans to transform the country as well as to alleviate the suffering of the citizens. In an interview with VOA, NPP communications director Nana Akomea says it is critical for Ghanaians to judge the performance of incumbent President John Dramani Mahama and the promises he has made over the years. Akomea’s remarks came after Mahama unveiled his ruling National Democratic...
(BBC News Africa 09/15/16)
Swiss firms have been criticised in a report for their links to the African trade in diesel with toxin levels that are illegal in Europe. Campaign group Public Eye says retailers are exploiting weak regulatory standards. Vitol, Trafigura, Addax & Oryx and Lynx Energy have been named because they are shareholders of the fuel retailers. Trafigura and Vitol say the report is misconceived and retailers work within legal limits enforced in the countries. Three of the distribution companies mentioned in...
(Bloomberg 09/13/16)
Ghana will have more fiscal room to maneuver ahead of elections as a fifth Eurobond gives the nation funds to pay debt and implement projects amid spending restrictions imposed by the International Monetary Fund. West Africa’s second-largest economy raised $750 million at a yield of 9.25 percent last week in an auction that was more than four times oversubscribed. About $400 million of the bond proceeds will be used to refinance the nation’s first 10-year bond which matures in 2017...
(Voice of America 09/13/16)
Representatives of 30 African countries have been working this week to map out ways to stop the continent’s mass rural exodus at the Forum on Rural Development in Yaounde. Emmanuel Afessi works on his desk top at Odja center in Cameroon's capital, Yaounde, where he is training 30 youths on information technologies at the center he created when he returned from the United States a year ago. "Africa needs to produce its own knowledge, its own equipment and that is...
(Voice of America 09/09/16)
Police in Ghana say they have identified over 5,000 "hot spots" where violence is possible ahead of the December 7 elections, and they have begun special measures to avert clashes. Ghana Police Service spokesman Cephas Arthur said the agency has a constitutional mandate to ensure public security is maintained through the presidential, parliamentary and local elections. Arthur gave his estimate of 5,000 potential trouble spots following the national electoral commission's warning that violence was possible in nearly 30 percent of the country's 275 constituencies.
(Voice of America 09/09/16)
The organizers of this week's Africa Green Revolution Forum in Kenya say the continent is well on its way to an agricultural renaissance. The forum is wrapping up with a significant boost toward that goal: a pledge of $30 billion during the next 10 years to support smallholder farmers and local African agribusinesses. The donors include African governments, businesses and development partners, many of whom have been present for the Nairobi forum. But significant challenges remain for the continent, and...

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