Children are more than twice as likely as adults to live in extreme poverty, according to a new analysis from the World Bank Group and the United Nations International Children’s Fund (UNICEF). The report dubbed: “Ending Extreme Poverty: A Focus on Children,” which was made available to the Ghana News Agency by UNICEF finds that … Read more
Investors across the globe have been urged to explore the large pool of opportunities in the West Africa sub-region. According to Senior Partner and Head of PricewaterhouseCoopers (PwC) Ghana, ?Mr Vish Ashiagbor, there are so many untapped areas in the business and economic environment in the West Africa Region. He made the comment at the … Read more
The World Bank President says he does not think Ghana and other African countries with high debt levels are at risk of falling into debt distress or “Highly Indebted Poor Country (HIPC)” category. Jim Young Kim was responding to a question about how the rising debt levels of some African countries, especially for those that … Read more
A former Chief Executive Officer of the Ghana Investment Promotion Centre, Robert Ahomka-Lindsay says Ghana is not yet an attractive investment destination. He was commenting on the recent World Bank report on doing business, which ranks Ghana 102 when it comes to starting a business, on TV3’s programme, Business Focus on Monday. The report considered … Read more
Book Review: Kings, Priests, and Kinsmen: Essays on Ga Culture and Society, by E. A. Ammah, edited by Marion Kilson (Accra: Sub-Saharan Publishers, 2016). The thesis of the book is to inform readers about the Ga culture and society in general covering the time of the beginning of the Ga culture and ends at the … Read more
The saved about 400 gigawatts of electricity power within 3 years of the Refrigerator Energy Efficiency Program. This was announced by the Mr Kofi Agyarko, the Head of Energy Efficiency Promotion and Climate Change of the Energy Commission. Addressing media practitioners at a forum this week, Mr. Agyarko said Ghana needed to progressively adopt energy … Read more
Ten countries (Benin, Cameroon, Côte d’Ivoire, Guinea, Kenya, Mali, Nigeria, Senegal, the United Republic of Tanzania and Uganda) met in a two-day technical workshop from 22 to 23 September 2016 to discuss the implementation of the “Partnership for Sustainable Rice Systems Development in Sub-Saharan Africa” project. This partnership with Venezuela and FAO strongly emphasizes the … Read more
Regulatory reforms and the ease of doing business matter for long term economic growth and prosperity in Ghana, Mr Jim McAlpine, Country Director of United Kingdom’s Department for International Development (DfID) – Ghana has said. Speaking in Accra to mark the maiden Better Regulatory Forum and Ghana Business enabling environment programme annual review, he said … Read more
In 2009, Kosmos Energy, a small oil exploration company in Texas, wished to cash in on its discovery of an oil field off the coast of Ghana — one of the largest found in West Africa in a decade. The company had an eager buyer in ExxonMobil. But some in Ghana believed the firm had … Read more
For more than two decades, Russia has been struggling to regain its Soviet-era economic influence, but such efforts have hit stumbling blocks which policy experts and Russian authorities themselves admittedly attributed to inadequate knowledge of investment and economic possibilities in Africa. Quite recently, Keir Giles, an associate fellow (on the Russia and Eurasia Program) at … Read more
Despite the clear potential to boost rice production at the regional level in Africa, most countries on the Continent continue to rely heavily on imports for meeting their rice consumption needs, costing the Continent USD 5 billion annually. Rice is a primary staple for food consumption, particularly in West Africa, where its growing cities depend … Read more
CHALLENGE: According to a 2015 KPMG report, banking penetration is as low as 36% in some of the larger African economies. SOLUTION: Digital Transformation can drive adoption of banking services by enabling banks to develop and deploy tailored, customer-focused products and solutions. No sector or region is immune to the disruptive power of Digital Transformation. … Read more
Ghana’s headline inflation is likely to slow further downwards raising prospects of a series of interest rate cuts as the government moves to spur growth. The country’s headline inflation rose to 16.9 per cent in August, having dropped from 19.2 per cent since March, prompting calls for the Bank of Ghana to ease Monetary Policy … Read more
The recent press statement by the University Teachers Association of Ghana (UTAG) regarding the issues of accreditation, promotion of university lecturers in Ghana, and the publication of academic work by university lecturers does not only smack of a compromised position of UTAG Executive Council but it also reveals how some labor unions can be hijacked … Read more
Ghana has received a US$700-million guarantee from the World Bank for its Offshore Cape Three Points (OCTP)- Sankofa gas project ahead of anticipated oil and gas production in 2017 and 2018, respectively. The project, which will be the country’s largest gas producing field, will receive a US$500-million International Development Association (IDA) payment guarantee and a … Read more
Gabon’s newly re-elected president, Ali Bongo, said Saturday that he would seek to form a new government based on a national political dialogue that will “most likely” include leading opposition figures. Bongo spoke in Libreville, a short while after the country’s Constitutional Court validated his August 27 victory, and just two weeks after opposition leader … Read more
Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come on stream, to push total output above 240,000 barrels per day (bpd), pan-African bank Ecobank said on Wednesday. The West African country produces around 103,000 bpd ranking it ninth, far behind leaders Nigeria and Angola, which … Read more
More than $1 billion in debt and financing commitments from US agencies and private investors is set to be announced on Wednesday for US. President Barack Obama’s signature Africa energy initiative, Power Africa, a top USAID official said. The latest deals were finalized around a US-Africa business forum on the sidelines of annual UN meetings … Read more
The Office of Dr. Mahamudu Bawumia has noted the discussions on his Public Lecture on the theme – “The State of the Ghanaian Economy – a foundation of Concrete or Straw” – and continues to thank the General Public for their support before, during and after the event. Though the government has till date not … Read more
The President’s Advisory Council on Doing Business in Africa (PAC-DBIA) has issued its final recommendations to U. S.President Barack Obama before he leaves office in January 2017. The advisors have focused on five key recommendations that they think are the most critical to move the needle on United States (U.S.) trade and investment in Africa. … Read more