Business

The Ministry of Food and Agriculture says it is working assiduously to make Ghana the lead exporter of Soyabean in the world by 2030. The Ministry projects to achieve this feat through the implementation of strategic measures in the soya bean production value chain ensure that the country meets its food security target through the planting for Food and Jobs. …

According to the Ghana Statistical Service, Ghana’s economy experienced a notable growth of 4.2 percent in the first quarter of 2023 when compared to the corresponding period in 2022. The key drivers of this GDP growth in the first quarter of 2023 were the sub-sectors of Public Administration, Defense & Social Security, Health, Education, and Information & Communication. Notably, these …

The Producer Price Inflation (PPI) went down by 4.0% in May 2023 to 30.3%, data from the Ghana Statistical Service revealed. The month-on-month change in the PPI between April 2023 and May 2023 was however -2.7%. The PPI in the industry-less construction sector decreased to 32.5% in May 2023, from 37.1% in April 2023. The rate in the construction sector …

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 …