Government Statistician justifies GH¢520 million budget for 2021 census
According to him, his outfit's intended activities over the period of the census justify the over GH¢520 million budget for the exercise. The Ghana Statistical Service 2021 population and housing census will begin on June 27, 2021, and run till July 11, 2021.
Homeland Return Act will define what criteria to follow when returning to Ghana
The Director of Diaspora at the Office of the president Akwasi Ababio has explained that, the Homeland Return Act when enacted will help streamline the criteria which the members in the diaspora will follow if they decide to stay in Ghana upon their return. According to Mr Ababio this will help the act also recognize the country's moral and spiritual obligation as an African nation in facilitating the return of diaspora Africans and would remove impediments in the acquisition of residence or citizenship by descendants of Africans who were enslaved as well as children of Ghanaians living in the diaspora.
Buffer Stock Company looks to GSE to raise income
The Minister for Public Enterprises, Joseph Cudjoe, lauded management of NAFCO for the innovation and approach to make the company profitable amid the challenges. Mr. Cudjoe said his ministry will engage the Food and Agriculture Ministry on how to assist NAFCO to trade on the GSE through agricultural bonds and bills to generate revenue and complement operations.
Port of Takoradi: New ultra-modern Liquid Bulk Terminal to be operational end of June
The new LBT project is expected to become the deepest drafted LBT along the west coast of Africa. The new LBT project, when operational upon the arrival of the maiden tanker vessel, will become the deepest drafted LBT along the west coast of Africa.
Africa should address challenges of Coronavirus
President Akufo-Addo noted that Africa could not afford to ignore the significant challenge facing it as a result of the pandemic, which had claimed some 130,000, pushed its economies into contraction and exposed its structural fragility. He told the meeting that there was need to re-awaken bonds of solidarity between the Bank Group, African Union Organs and Institutions, and Regional Economic Communities, and demonstrate a united commitment towards rebuilding back better.
Over 200 MoMo agents attacked between January
He says the robbery attacks have left some agents deformed. General Secretary of the Mobile Money Agents Association of Ghana, Evans Otumfuo, has disclosed that over 200 mobile money vendors have been attacked in the first half of 2021.
Diaspora Investment Summit a crucial step to attract investment
The Diaspora Investment Summit initiative falls in line with ten-year plan geared towards bringing the needed investments for recovery and development in the country. The Ghana Investment Promotion Centre has held the maiden edition of the Diaspora Investment Summit in Accra to deliberate on ways to rope in revenue from the diaspora community to help develop the country.
Maritime experts call on govts in West Africa to invest heavily against piracy
Speaking on Eye on Port, maritime law consultant, and legal practitioner Dr. Emmanuel Kofi Mbiah emphasized that necessary steps ought to be taken else, the piracy menace could exacerbate to a point where the gulf becomes ungovernable. Capt. Micah called on all nations in the Gulf of Guinea to take the fight against piracy seriously.
Fitch's negative downgrade will have enormous repercussions
According to the latest Fitch report, the negative rating reflects the significant deterioration in public finances as a result of the Covid-19 pandemic and the delays by the government to roll out its fiscal consolidation efforts. In an interview on the Morning Starr on Wednesday, the University of Ghana Lecturer said the repercussions of the downgrade are enormous and can greatly affect investor confidence.
Experts spar over relevance of banks' legacy systems
Broadly speaking, banking legacy systems are often decades-old, mainframe-based platforms which support a bank's back-end operations across core functions such as account opening, account set up, transaction processing, deposit processing, loan processing and several more. Despite agreeing on the urgency of the transition, in the light of changing consumer expectations - with cloud-computing, robotics and artificial intelligence proposed as solutions banks should adopt - the experts however differed on how much of the legacy systems should be maintained going forward.
Greater Accra Shipper Committee sensitized on Marine Insurance protocol
Committee members were sensitized on the incoming marine cargo insurance protocol. The Committee members were sensitized on the incoming marine cargo insurance protocol which requires shippers to procure marine insurance locally.
Fitch downgrades Ghana's outlook from stable to negative
Fitch has affirmed the IDR at 'B'. According to the latest Fitch report, the negative rating reflects the significant deterioration in public finances as a result of the Covid-19 pandemic and the delays by the government to roll out its fiscal consolidation efforts. The 'B' rating reflects the high public debt level and low revenue base, which means that Ghana's debt affordability metrics will remain markedly weaker than rating peers over the rating horizon.
World Bank, AU team up to support rapid COVID-19 vaccination in Africa
In a boost to the African Union's target to vaccinate 60% of the continent's population by 2022, the World Bank and the AU announced that they are partnering to support the Africa Vaccine Acquisition Task Team initiative with resources to allow countries to purchase and deploy vaccines for up to 400 million people across Africa. The Bank has been working closely with AVATT to see that countries in Africa can use World Bank financing to purchase COVID-19 doses through the AVATT initiative as well.
2021 cocoa harvest projected to hit record 1 million-ton mark
Market analysts have predicted Ghana is likely to reach a record 1 million-ton mark for cocoa harvest by the end of the 2021 cocoa season, Bloomberg has reported. The development comes after the Head of Finance and Administration at Ghana COCOBOD, Ray Ankrah revealed cocoa farmers in Ghana have so far harvested 965,493 metric tons as of June 3, 2021 compared with a target of 900,000 tons for the whole crop year that ends in September 2021.
Running to Parliament to seek redress is not a legal process
Governor of the Bank of Ghana, Dr. Ernest Addison has upheld that seeking redress in Parliament over the revocation of banking license by owners of defunct banks is not one that bodes well under law while a legal process is pending. Prince Kofi Amoabeng owner of defunct UT Bank and Dr. Kwabena Duffuor, founder of UniBank in March this year petitioned the Finance Committee of Parliament to investigate the conduct of the Bank of Ghana and the Ghana Stock Exchange following the revocation of the license delisting the bank without due regard to the rules of Administrative Justice guaranteed under Article 23 of the 1992 Constitution.
Ghana moving towards value-addition exportation
Chief Executive Officer of the Ghana Investment Promotion Centre Yofi Grant has said that the country is moving away from just a raw material exporter to a product exporter by adding value to it to rope in more revenue to develop the country. In his open remarks to kick start the two-day Diaspora Investment Summit in Accra, Mr. Grant said the COVID-19 pandemic compelled lower-middle-income countries like Ghana to be innovative and produce goods to support the economy in wake of the pandemic.
Kintampo Waterfalls zip-line is 85% complete
Suspended canopy walkway at the Kintampo Waterfalls. Additional facilities at the Kintampo Waterfalls include pavilions and summer huts, mechanised bore-hole water, washrooms, a cafeteria, museum, rehabilitated staircases and mini-shops that trade in provisions and traditional artifacts among others.
FanMilk Ghana PLC opens new offices in Accra
The new ultra-modern office housed in the same building as the factory represents the vision, mission and leadership behaviours of the Fan Milk PLC as a truly Danone Company. Fan Milk PLC has been in existence since 1962 and is currently engaged in the production and distribution of quality refreshing milk and fruit-based products.
Demand for electricity supply peaked by 10.2% in 2020
Demand for electricity supply witnessed an increase of 10.2 percent in 2020. Demand for electricity supply witnessed an increase of 10.2 percent in 2020 even as the country was adversely hit by coronavirus pandemic, a 2021 Energy Outlook report on Ghana has revealed.
'Digitisation here to stay, embrace it!'
Speaking at a conference organised by Republic Bank and the Business and Financial Times in Accra under the theme 'Digitisation, Artificial Intelligence and Future of Things: The impact and immense opportunities for Ghanaian businesses', the panellists agreed that going forward the usual way of carrying out business will become obsolete; hence the need to quickly adapt to the changing environment in order to satisfy customers' needs. To him, for the digitisation drive to be successful there will be need for clear government policy to guide the process and encourage it across all sectors.