Friday 26 May 2017
(Citifmonline 05/11/17)
President Nana Akufo-Addo wants the newly launched Kumasi City Mall to be much more than a hub only for the sale of imported products. According to him, “it would be truly commendable if by the end of the first year of its operation, at least 20% of the goods that are sold here should be of Ghanaian origin, and the percentages increase as Ghanaian industrial production rapidly expands.” Speaking at the official launch of the Kumasi City Mall on Wednesday, President Akufo-Addo bemoaned the fact that Ghana continued to be a retailer of cheap imported goods. “I know very well that, in some of our malls and supermarkets across the country, carrots sold for example, are imported from Holland. Some...
(Ghana Business News 05/10/17)
The year-on-year inflation rate went up slightly in April to 13.0 per cent, up by 0.2 percentage points, compared with the 12.8 per cent recorded in March. The Acting Government Statistician, Mr Baah Wadieh told a press conference on Wednesday that the monthly change rate in April 2017 was 1.6 per cent, while that for March 2017 stood at 1.3 per cent. The year-on-year non-food inflation rate recorded for April was 16.3 per cent compared with the 15.6 per cent recorded in March 2017. The non-food inflation rate was more than two times that of the food inflation rate of 6.7 per cent compared with 7.3 per cent recorded in March 2017. The main “price drivers” for the non-food inflation...
(Ghana Business News 05/10/17)
The United States has since 1990 provided more than $ 1.7 million grant support to Ghana for development. Last year alone, it disbursed $55,000 to seven organisations and local communities to undertake various community-based projects. Ms Margaret Langer, a Senior Official at the US Embassy in Accra, who disclosed this on Tuesday, said the grant was under the “US Ambassador’s Special Self-Help Programme” being implemented in the country. She made this known when she addressed then chiefs and people of Nweneso, a farming community in the Asutifi North District of the Brong-Ahafo Region at a durbar to inaugurate a borehole the Embassy constructed for the people. Estimated at the cost of $6,500, the water project would serve the people of...
(AfricaNews 05/10/17)
A gas explosion in Ghana’s Western Region has left over 100 people hospitalized. The incident occurred on Tuesday morning during the discharge of liquefied petroleum gas (LPG) at the premises of a household utilities manufacturing company. The state-owned Daily Graphic reports that the injured persons who were all rushed to three medical facilities were responding to treatment. The injured included four firemen, three motor traffic officials and a newspaper vendor. The resulting explosion from the incident in Sekondi/Takoradi (capital of Ghana’s oil-rich region) was reportedly heard metres away and broke louvre blades in nearby houses and offices. The cause of the explosion was a leaking receptacle at the time the LPG was being discharged to giant receptacles. Authorities have yet...
(Myjoyonline 05/10/17)
Ghana has been announced as one of the leading countries making strides in the research and production of cashew with an estimated eight hundred kilos per hectares. This was announced by the executive director of the competitive cashew initiative ( comcashew ) Rita Weidinger at the 4th edition of the master training program held in Ho. The five day training program which is aimed at promoting the African cashew value chain is a joint initiative of the Comshew and the African cashew alliance with support from the Cocoa Research Institute, Ghana (CRIG) and the Ministry of Food and Agriculture Rita Weidinger says, Ghana continues to lead the way in high yields of 800kg/hectares as against the international benchmark of 1500kg/hectares...
(Fox News 05/10/17)
After five years of no major attacks on merchant vessels, piracy around the Horn of Africa seemed to be on hiatus. Acts of piracy in those treacherous waters have fallen sharply since 2012, according to statistics released by the United States Navy. The Navy credits aggressive patrolling by international forces and increased vigilance by the commercial shipping industry for the decrease. However, in the past month, Somali pirates have intercepted five ships, raising concerns that piracy has returned to the Indian Ocean, beginning with the kidnapping of a Sri Lankan crew from the Aris 13 oil tanker on March 13th (they were later released without a ransom). Nobody thinks the problem will end until a stable government is restored in...
(Ghana Web 05/09/17)
Details emerging from the Bank of Ghana (BoG), reveal the negotiated resignation of Dr. Abdul-Nashiru Issahaku, as Governor, three years ahead of his four-year mandate caused the taxpayer GH¢3,204 million. Insiders have told The Herald that, the Akufo-Addo government, has since effected the mouthwatering payment to the ex-Governor of the Central Bank, who was forced to leave office effective April 1, 2017, and hand over to Dr. Ernest Kwamina Yedu Addison, same day. Dr. Issahaku’s monthly salary was revealed as GH¢89,000 and having been pressured by the Akufo-Addo government to step down, he was to collect the rest of his three-year salary
(Dw-World 05/09/17)
A counter-extremist civil society group in Ghana has helped prevent more than 20 young people from joining the so-called Islamic State. Online recruiters often target vulnerable students who face poor job prospects. The radical militant group "Islamic State" (IS) is known for making headlines in Syria and Iraq, now they are also increasingly making their presence felt in West African countries like Ghana. With almost 24 percent of its population aged between 15 and 24, many vulnerable young Muslims are being targeted by online recruiters who take advantage of the limited job opportunities available to recent high school and university graduates. Many formerly ambitious current and former students who face the realities of poverty are much more susceptible to the...
(Graphic Online 05/09/17)
The Ministry of Finance is hopeful that a US$2.6 million Remittance Grant Facility (RGF) secured from the Switzerland government will help bring down the cost of remitting money to the country from the current 12 per cent of every US$200 remitted to five per cent. The reduction is needed to motivate more Ghanaian residents abroad to use the formal means in sending money back to their families and loved ones. High patronage of the formal process should help raise the country’s remittance figures and that will go a long way to help shore up foreign exchange reserves while cushioning the cedi. The Finance Minister, Mr Ken Ofori-Attah explained at the launch of the grant facility on May 5, that the...
(Ghana Web 05/09/17)
Minister of Railways Development, Joe Ghartey, has encouraged foreign investors to consider investing in Ghana’s infrastructural sector, especially the country’s rail subsector. Hon. Ghartey disclosed this while delivering a keynote address on behalf of Vice President Dr. Mahamudu Bawumia at the AI CEO African Pension Wealth Fund Leaders’ Summit 2017 held in Durban, South Africa under the theme, ‘Facilitating Pension Fund Investment Partnership with African Asset Owners.’ The summit was aimed at focusing on investment strategies and governance and showcasing institutional-grade opportunities and instruments to de-risk and catalyse global and African institutional capital. According to the minister, there were huge investment opportunities in the country’s rail sector currently. “In Ghana currently, our priorities in infrastructure development include the rail sector...
(Ghana Web 05/09/17)
Some stakeholders of the Ghana Stock Exchange (GSE) are hopeful the bourse will record good performance in this year’s activities due to growing enthusiasm in the capital market. The GSE recorded negative performance in two consecutive years,— in 2015 and the 2016 periods. But speaking to Citi Business News on the 2017 outlook of the bourse, a former Director General of the Securities and Exchange Commission (SEC), Dr. Adu Anane-Antwi was hopeful that the general mood of growth among the private sector due to the new government’s policies will turn things around on the market. “I believe some of the policies of the government will help the market. For example some of the taxes that have been taken off will...
(Business Ghana 05/09/17)
Mr Collins Ntim, Deputy Minister for Local Government and Rural Development has hinted of plans by government to position the country as the leading producer of cashew in eight years. Cote D’Ivoire is currently Africa’s largest exporter of cashew and produces 700,000 metric tonnes a year ahead of Ghana’s 600,000 metric tonnes. Mr Ntim at the 4th edition of a master training programme on cashew value chain promotion in Ho, noted that Ghana had almost the same agricultural land size as Cote D’Ivoire and stated government’s commitment to offer technical and financial support to farmers to increase production and create jobs. He said the Ministry of Local Government and Rural Development was therefore liaising with the Department of Agriculture in...
(Xinhuanet 05/08/17)
Ghana would be in the position to export power to its neighboring countries within the next four years, World Bank Country Director, Henry Kerali projected here late Friday. According to him, the investments made by the country in the energy sector have resulted in the situation where there is bound to be the over-supply of power in the country to necessitate the exportation of part of the power to neighboring countries. Kerali was addressing the media here on the outcomes of discussions held between the new government of Ghana and the World Bank Group during the Spring Meetings of the World Bank
(Spy Ghana 05/08/17)
A civil society group is calling on the Speaker of Ghana’s Parliament, Rt. Hon. Prof. Aaron Mike Oquaye to handover the four parliamentarians alleged to have been involved in visa fraud to the police and the Bureau of National Investigations (BNI) to delve into the matter. Aaron Mike OquayeA statement released here signed by Kingsley Kwabena Amoah, Executive Director for Defence Network for Democracy (DEFNED) expressed worry over the series of allegations against the country’s legislative body, a development the group describes as having “dented the hard-won reputation and integrity of parliament locally and in the international scene.” The civil society group urged the leadership of parliament to take immediate steps to redeem its lost image. “DEFNED is seriously calling...
(Spy Ghana 05/08/17)
The World Bank is confident of a rebound in Ghana’s economic growth this year. To this end, the Bank has projected a growth target of 6 to 7 percent for 2017. It is however expecting the figure to inch up higher in 2018 and subsequent years. The 6 to 7 percent growth target by the World Bank is also higher than the government’s growth projection of 6.3 percent in 2017. “We expect that growth in Ghana will be robust in this year and we are forecasting a growth of 6 to 7 percent in 2017 and potentially higher in 2018,” the Country Director for Ghana, Liberia and Sierra Leone World Bank, Henry Kerali, told a news conference on Friday. He...
(Xinhuanet 05/08/17)
Ghana's deputy sports minister Pius Hadzide on Friday condemned the racist attack on former Black Stars midfielder Sulley Muntari who plays for Pescara in the Italian Serie A, calling on the Italian FA to take firm unbiased and fair steps to ensure that such actions do not repeat themselves. The Ghanaian international walked off the pitch in Pescara's game against Cagliari last Sunday after fans of the home side rained racist insults on him. He was subsequently handed a one-match ban by Serie A's disciplinary committee. "We as the Ministry of Youth and Sports unequivocally condemn the racist attack that was targeted at Sulley Muntari," said Hadzide in reacting to the incident, which has caused huge outrage in the football...
(Reuters (Eng) 05/06/17)
Ivory Coast and Ghana will work together to improve the organization and sale of their cocoa, Presidents Alassane Ouattara and Nana Akufo-Addo said on Friday at the end of a summit. The West African neighbors, the world's two biggest cocoa producers, will also improve coordination between their cocoa sector regulators, the presidents said in a statement after meeting in Ivory Coast's economic capital Abidjan. Cocoa is vital to the economies of both countries and Ivory Coast has already slashed its 2017 budget due to plummeting global cocoa prices. The two countries are also seeking African Development Bank funding to develop industries to add value to their cocoa with products such as cocoa paste
(AFP (eng) 05/06/17)
Pescara midfielder Sulley Muntari's one-match ban for leaving the pitch in protest at racial abuse has been overturned, the Italian football federation (FIGC) said on Friday. The Ghanaian walked off just before the end of last Sunday's Serie A game at Cagliari after angrily confronting home fans, claiming to have been racially abused before being booked. The 32-year-old received an automatic one-match suspension following his dismissal as he was initially booked for dissent, before receiving a second yellow for leaving the field. But the sanction was lifted by the FIGC's appeal court.
(Graphic Online 05/05/17)
Ghana and Togo have resolved to deepen co-operation, as well as strengthen the ties of friendship that exist between them in the sectors of security, immigration, agriculture and water, health, trade, digital economy, environment, energy, transport and the issue of maritime borders. A communiqué issued at the end of the official visit of President Nana Addo Dankwa Akufo-Addo, to Togo noted that, together with President Faure Gnassingbe, both leaders have indicated their willingness to activate “the High level permanent joint Commission of cooperation between the two countries.” On Wednesday, May 3, 2017, the two leaders visited the Joint Border Post at Noepe and Akanu.
(Myjoyonline 05/05/17)
Lands and Natural Resources Minister, John Peter Amewu says the Chinese government is in full support of Ghana's efforts to end illegal mining known as galamsey. He said the Xi Jinping government has given its backing for punitive measures to be meted out to Chinese nationals who are caught engaging in illegal mining in Ghana. Speaking at Joy FM’s Thought Leadership dialogue on galamsey Friday, Mr Amewu said the President Akufo-Addo government will continue to collaborate with civil society groups to clamp down on the practice. The anti-galamsey campaign has been gathering momentum days after the Lands Ministry's three-weeks ultimatum served miners to end their activities elapsed. As part of activities to consolidate gains made since the start of the...

Pages