Business

The government has pledged to expand the Livelihood Empowerment against Poverty (LEAP) program to all 2.5 million extremely poor individuals by 2024. According to Finance Minister, Ken Ofori-Atta, this is in line with its tradition of compassion and care for the underprivileged. “We expect to strengthen social protection through increases in social spending to protect the most vulnerable and the …

The price of Liquefied Petroleum Gas (LPG) is expected to fall by about 7.0% from tomorrow, June 16, 2023. According to the LPG Marketers Association, the reduction will be caused by about a 10% drop in the prices of the commodity on the international market. Its Vice President, Gabriel Kumi, said, though the cedi has lost some grounds, the drop …

The Bank of Ghana has warned the public against dealing with some 97 unlicensed entities that advance loans to prospective clients through mobile apps. The central bank said in a statement that further to its notice number BG/GOV/SEC/2022/10 on Unlicensed Entities Engaged in Lending, it has observed the “persistent operation of unlicensed entities that are engaged in the provision of …

Like the Kumawu constituency in the Ashanti Region, which saw deplorable roads suddenly being repaired as a result of a by-election, roads in the Assin area of the Central Region, are about to see major upgrades also as a result of a by-election. Yesterday, Speaker of Parliament, Alban Bagbin, got the Assin North seat declared vacant following the Supreme Court’s order …

 The Pensioner Bondholders Forum, who were deceived by the Finance Minister, Ken Ofori-Atta into ending their picketing recently, have served notice to resume their picketing at the Finance Ministry from tomorrow, Thursday, 1 June 2023. This is because the government failed to honour its latest promise to pay their matured coupons and principals. According to a statement from the group …

The Ministry of Energy has a US$1.7 billion bill for a Floating Oil Production Storage Offloading (FPSO) vessel which the Norwegian company Aker Energy Ghana Limited, purchased for US$35 million as part of a Plan of Development (PoD) to the government of Ghana. “Even though Aker has sold their interest in Ghana, they are scheming to stay on the Pecan development through …

The Independent Power Producers, Distributors, and Bulk Consumers are threatening to cut power supply to the national grid by the end of June 2023 if the government fails to settle its debt. This could create a huge power shortfall as the IPPs control over 65% of the available thermal generation capacity in the country. It is indicated that as of April 2023, the …

Former President of Liberia and Former ECOWAS Chair, Ellen Johnson Sirleaf has urged African countries to prioritize the use of data in its policy making as she says it is critical to Africa’s development. “In Africa, the need for timely data has become increasingly important in recent years. With the continent experiencing significant economic growth and development, data has become …

The Deputy Minister of Lands and Natural Resources, Benito Owusu-Bio, has revealed that the government has approved an amount of GH₵2.5 million for the 2023 Green Ghana tree planting. The Deputy Minister mentioned this at a press conference at the ministry on the government’s preparation towards the 2023 Green Ghana Day celebration. According to Mr. Owuau-Bio, the Forestry Commission through …

Data from the Public Interest and Accountability Committee (PIAC) shows that Ghana’s total petroleum revenue between 2011 and 2022 amounted to US$8.8 billion, with the year 2022 recording the highest realized petroleum revenues in the Petroleum Holding Fund (PHF). The total petroleum revenue in 2022 is the highest for a single year since petroleum production began in Ghana, with a …