Public debt stock reaches ¢159bn in August

The country’s public debt stock has reached ¢159.4 billion as at August 30, this year according to the Central Bank’s September summary of Economic and Financial data. The data also shows that the stock of debts went up by ¢5.1 billion from May this year to August. From the data, the domestic debt accounted for ¢73.8 billion cedis representing 30.6 […]

Continue Reading

First tranche of $650m cocoa loan syndication to hit BoG account Oct 6

The first tranche of cocoa loan syndication is expected to hit Bank of Ghana’s account from October 6 this year. Officials of Ghana Cocoa Board (COCOBOD) have signed an agreement with 21 banks in the Netherlands to aid cocoa purchases and other liabilities for the next crop season. Breakdown The 2018/2019 syndicated loan would be drawn down in three tranches. […]

Continue Reading

Financial stability: World Bank gives Ghana $30m support

The World Bank has approved a $30 million International Development Association (IDA) credit to support the Government of Ghana strengthen its financial sector stability. The support is also to improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. Commenting on the gesture, the World Bank Country […]

Continue Reading

Ghana Gas Audit report smokescreen to divert attention – Edudzi Tamakloe

Private legal practitioner Edudzi Tamakloe has described as façade the  forensic audit report on the Ghana National Gas Company. According to him, the forensic audit which uncovered a whopping US$137,861,127.15 in procurement breaches at the company under the Mahama administration is nothing but a smokescreen to divert attention from the litany of corruption scandals that has rocked […]

Continue Reading

COCOBOD seals $1.3bn cocoa syndicated loan agreement

The Ghana Cocoa Board has completed a 1.3 billion dollar syndicated loan agreement for cocoa beans purchases for the 2018/2019 crop season. The agreement is with twenty one banks including Barclays Bank Ghana, Stanbic bank Ghana as well as Societe General. The cocoa syndicated loan is to help the cocoa industry regulator make upfront purchases […]

Continue Reading

Fuel prices: Be grateful; you would have paid GHC5.54 per litre – Amewu

Ghanaians would have been paying about GHS5.50 per litre for fuel had the Akufo-Addo government not intervened to mitigate the price hike, Energy Minister John Peter Amewu, has said.The price of fuel hit the GHS5-plus mark on Monday, 17 September 2018, a prediction the Institute of Energy Security (IES) had made earlier.Mr Amewu, however, explained […]

Continue Reading

New incentives for automobiles as Nissan joins market – Bawumia

Vice President Dr. Mahamudu Bawumia has stated that government will ensure that both local and international automobile companies operating in Ghana, will be given equal incentives to enhance their operations. Following the announcement by the President that German automobile company, VW, will set up a plant in Ghana, local automobile company, Kantanka expressed concerns over […]

Continue Reading

Spare Parts dealers beg Mahama

The Spokesperson of the Spare Parts Dealers Association of Ghana, Mr Takyi Addo has said in an interview whose audio MyNewsGH.com has obtained that he deeply regrets calling former President John Mahama ‘incompetent’ and all other names because, at the time, he didn’t know what he now knows. In an emotional interview MyNewsGh.com intercepted from […]

Continue Reading

$137m procurement breaches detected at Ghana Gas

Procurement irregularities amounting to a whopping US$137,861,127.15 have been uncovered at Ghana National Gas Company during the erstwhile administration of John Mahama. A forensic audit conducted by Morrison and Associates has detected that helicopters purchased from China National Aero Technology Import and Export Corporation (CATIC) by Ghana Gas “have never been used for purpose of […]

Continue Reading

US$11m 1D1F starch factory to create jobs, boost revenue – UMB

The country has not fully taken advantage of the potential inherent in the production and export of starch in order to generate more foreign exchange and increase incomes and socio-economic wellbeing for hundreds of smallholder farmers. A research report titled ‘Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023’ by IMARC Group […]

Continue Reading