Home » Business

Business

Coup puts spotlight on Guinea’s huge bauxite reserves

The latest coup in bauxite-rich Guinea is reverberating across the market for aluminium, although for now it appears the global production chain is not under threat, analysts say. Aluminium prices, already buoyed by a gradual economic recovery, topped $2,800 a tonne to reach a 13-year high on Wednesday after the coup. Here’s why Guinea is such a big market factor: ...

Read More »

China to import more African agricultural products

China wants to expand the sale of African agricultural products across its e-commerce platforms, according to a senior Chinese foreign ministry official. Wu Peng, director general of the ministry’s department of African affairs, said at a launch ceremony of “African Products Online Promoting Season” that China has never pursued trade surplus with Africa. He said the online promotion will help ...

Read More »

Gov’t urged to take charge of extractive sector

The Institute for Fiscal Studies (IFS), a fiscal policy think-tank, has called for the state to take over the commanding heights of Ghana’s extractive sector to increase government revenue generation from the nation’s mineral and oil resources. The Institute said compared with other developing economies, Ghana’s revenue generation from the extractive sector is poor, “and is the main source of Ghana’s comparatively ...

Read More »

Ghanaians who return within a week after travelling abroad no longer need COVID-19 test – GACL

The Ghana Airport Company Limited (GACL) has issued a new directive to Ghanaians travelling in and out of the country using the Kotoka International Airport (KIA). Per the new guidelines, GACL will no longer demand COVID-19 test results from Ghanaians who travel outside the country and return within a week. However, they will have to undergo mandatory COVID-19 testing at ...

Read More »

Congo reviewing $6 billion mining deal with Chinese investors

Democratic Republic of Congo’s government is reviewing its $6 billion “infrastructure-for-minerals” deal with Chinese investors as part of a broader examination of mining contracts, Finance Minister Nicolas Kazadi told Reuters. President Felix Tshisekedi said in May that some mining contracts could be reviewed because of concerns they are not sufficiently benefiting Congo, which is the world’s largest producer of cobalt ...

Read More »

Investing in Africa

Africa is one of the world’s fastest-growing economic hubs but meeting the demand for key infrastructure across its many levels has been identified as a priority. According to the World Bank, Sub-Saharan Africa is home to more than 1 billion people, more than 50% of whom will be younger than 25 by 2050. The African continent offers a wealth of ...

Read More »

SSNIT loses $11.79m from liquidation of 3 investments – Auditor General Report

The Social Security and National Insurance Trust (SSNIT) registered a total loss of $11.79 million from the liquidation of three of its investments with a total cash outlay of $14.768 million. This is a revelation from the 2020 Auditor-General Report. The report, therefore, urged management to investigate the non-performance of the investments to ensure value for money. “We urged Management ...

Read More »

Consider Senchi-type forum to address Ghana’s economic challenges – Ato Forson to Akufo-Addo

The Member of Parliament (MP) for the Ajumako-Enyan-Essiam Constituency and Ranking Member on the Finance Committee of Parliament, Dr. Cassiel Ato Forson has urged the Akufo-Addo government to organise a stakeholder forum to help address the challenges confronting the Ghanaian economy. Recalling the three-day Senchi Economic forum held in 2014 by the then National Democratic Congress government, which the New ...

Read More »

Ghana,Ivory Coast agree to cooperate on cocoa pricing

Ghana and Ivory Coast, the world’s two largest cocoa suppliers, on Thursday agreed to better cooperate on pricing and combating child labour in the industry. Ivory Coast accounts for more than 40 percent of world output, and Ghana at least 20 percent. More than half of their growers live below the poverty line. The two West Africa producers joined forces ...

Read More »

Cedi has been relatively stable – Ofori-Atta

Finance Minister, Ken Ofori-Atta says the cedi has been relatively stable this year, 2021. He said this when he presented the 2021 mid-year budget review in Parliament on Thursday, July 29, 2021. “The cedi has been relatively stable in the past four years and maintained its stability even in this pandemic year. For the first time in the Fourth Republic, ...

Read More »