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14 million Ghanaians left ‘multidimensionally poor’ bracket in 7 years – MPI report

Between 2011 and 2017, the number of Ghanaians living in multidimensional poverty reduced by 14,115,572, the Ghana Statistical Service’s Multidimensional Poverty Index (MPI) report has said. The MPI report used the seventh round of the Ghana Living Standards Survey (GLSS) conducted between 2016/2017 survey periods. It employed a strict harmonised dataset from the Ghana Multiple Indicator Cluster Surveys (MICS) conducted ...

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Lockdown: GHC12m was spent on hot meals not GHC54m – Ofori-Atta

Hon. Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta has clarified that only GHC12 million out of the GHC54 million captured in his mid-year review presentation was used for the provision of hot meals during the COVID-19 lockdown. Many including the Minority questioned the amount asking for details following the Minister’s presentation. However, in his concluding remarks to end the debate on the Supplementary Budget in Parliament today, Hon. ...

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Trade pact could boost Africa’s income by $450 Billion, Study finds

The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found. If implemented fully, the trade pact could boost regional income by 7% or $450 billion, speed up wage growth for women, and lift 30 million people out of extreme poverty by ...

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AfDB Group supports Ghana’s COVID-19 response plan with $69 million grant

The Board of Directors of the African Development Fund (ADF) on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation. The grant from the ADF, the concessional arm of the African Development Bank will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness ...

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Akufo-Addo to launch GHS100bn economic recovery program-Ofori -Atta

Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo will soon launch  a GHS100-billion economic recovery programme to rebuild the local economy following the COVID-19 pandemic, Finance Minister Ofori-Atta has said. He told Parliament on Thursday July 23 that “Mr Speaker, we wish to take this opportunity to announce to the people of Ghana that the President and his team have done a lot ...

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A decade of Oil Production; has Ghana achieved its Local Content Target?

Minister of Energy, John Peter Amewu

Following the discovery and the subsequent production of oil and gas in commercial quantities in Ghana in 2007 and 2010 respectively, majority of Ghanaians anticipated that the development of an oil and gas sector would be a foundation for poverty reduction and general prosperity to the citizens. The pursuit to take full advantage of benefits in the Oil and Gas ...

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Ofori-Atta requests Parliament’s approval to spend ¢11.8bn

Finance Minister Ken Ofori-Atta has requested Parliament’s approval to spend an extra ¢11.8billion for the 2020 fiscal year. This is in addition to the ¢85.9billion approved at the end of 2019 for government’s expenditure for 2020. The additional expenditure has become necessary as a result of the impact and revenue shortfalls the economy has suffered due to the novel coronavirus ...

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Prof Delle awarded Entrepreneur of all time

Edmund Delle

Professor Edmund Nminyem Delle, the Founder of Rabito Clinic Limited was at the weekend decorated as the “the Greatest Entrepreneur of All Time” at the 10th Ghana Entrepreneur and Corporate Executive Awards 2020. The award, which was bestowed by the Entrepreneurs Foundation of Ghana in partnership with the Ministry of Business Development, seeks to honour the accomplishment of long-standing Entrepreneurs ...

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Let’s build consensus on new automotive industry policy – Akufo-Addo to dealers

Prez Akufo-Addo

President Akufo-Addo has made a passionate appeal to the leadership and members of the Vehicle and Assets Dealers Union of Ghana (VADUG), to partner with the government as it takes concrete steps to improve the automotive industry of the country. The President made the appeal when he addressed a delegation of the Union at the Jubilee House when they paid ...

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IMF warns of cedi depreciation

The further weakening of the Ghanaian Cedi against the U.S. dollar will worsen the impact of coronavirus pandemic, the International Monetary Fund has said. Since late February 2020, the Cedi has consistently depreciated against the dollar by -2.46 percent, year to date, and -7.34 percent year-on-year. The IMF in its staff policy-related analysis report on the dominance of the U.S. ...

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