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We must use oil to promote inclusive growth

The petroleum industry is one of the largest and most important sector of Ghana’s economy measured in terms of value addition, revenues to government, investments and export value. It is, therefore, essential that the way the industry is organised and the division of roles and responsibilities take all important public interests into account and ensure that value creation from petroleum ...

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Mobile Money Interoperability transactions exceed 1m mark

Latest data from Ghana interbank Payment and Settlement System has seen Mobile money interoperability record over 1.1 million volume of transactions, five months after its inception. According to the latest data, over 1.1 million transactions were recorded at the end of September. The total value of cross-network transactions amounted to about 99.3 million Ghana cedis In its first month of ...

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Food System in Africa needs drastic change – Prof. Danquah

Professor Eric Danquah

There is an urgent need for a drastic change in the food and agriculture system in sub-Saharan Africa if the region is to achieve the sustainable development goal on hunger, a Plant Breeding Professor Eric Danquah has said. Prof. Danquah who is founding Director of the West Africa Center for Crop Improvement (WACCI) at the University of Ghana says it ...

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Ghana Ranked Seventh Wealthiest African Country

Ghana has been ranked the seventh wealthiest country in Africa with a total wealth of 63 billion dollars (US$bn 63) as at December 2017. The figures were contained in The AfrAsia Bank Africa Wealth Report 2018 published in September. The report covers wealth, luxury, prime property and wealth management trends in Africa from 2007 to 2017, with projections to 2027. Ghana’s ...

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GSA, GS1 sensitise manufacturers on standards and labelling requirements

The Ghana Standard Authority (GSA) and GS1-Ghana, a global organization that specializes in management of barcodes system, has held a joint workshop on standards and labelling requirements for local businesses. The one-day workshop, which assembled manufacturers and retailers, was aimed at providing an avenue for stakeholders to discuss issues related to standardisation and labelling requirements to promote trade. It was also to ...

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ADI Calls On Govt To Establish US$1.5b Commodity Diversification & Livelihood Program For Farmers

The Alliance for Development and Industrialization (ADI) is asking the government to establish a US$1billion commodity diversification and alternative livelihood for cocoa farmers as well as the non- traditional export sector in the country. This commodity diversification could triple the country’s agriculture export income within 3 to 4 years. As the country’s export earnings increases it would stabilize the fiat ...

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Germany, Ghana Investors Forum to boost trade ties – Ken Ofori-Atta

Ken Ofori-Atta

Finance Minister Ken Ofori-Atta has said the Germany Ghana Investors Forum is a platform set to boost trade ties between the country and Europe. Mr. Ofori Atta said, “What we’re seeing is a certain clarity with regards to the Compact Africa and how Germany is looking at interventions to make sure that we sustain the type of progress that we ...

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Only 20% of cocoa processed locally; Still short of gov’ts 50% target

Ghana still exports about 80 per cent of its raw cocoa beans despite calls for value addition in order for the country to earn more revenue from the commodity. The Managing Director (MD) of the Cocoa Marketing Company (CMC), Mr Joe Forson, at a recent conference in Accra said about 20 per cent of the total cocoa output for the ...

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Economy Valued At GH¢256bn After Rebasing

Baah Wadieh, Gov't Statistician

Rebased economic figures released by the Ghana Statistics Service (GSS) indicate that the country’s economy expanded by 24.6 per cent in 2017. This means that Ghana’s economy increased to GH¢256 billion from GH¢205.9 billion recorded earlier. The rebasing involves replacing the old base year (i.e. 2006) used for computing the constant price estimates to a more recent base year – ...

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SoEs Register GH¢1.29bn Loss

Yaw Osafo Maafo

State-owned Enterprises (SOEs) in the country recorded a net loss of GH¢1.29 billion last year, the State Ownership Report has revealed. The report, launched in Accra on Thursday,  however, said that the losses were a reduction over similar losses recorded in 2016. According to the report, the bane of SOEs was their chronic inability to contain costs, as their aggregate operating ...

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