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Edward Kareweh, the former General Secretary of the General Agricultural Workers Union (GAWU), has called for coordinated policy efforts among key ministries to address the structural challenges facing Ghana’s agricultural sector. Kareweh emphasized the need for effective collaboration between the Ministry of Agriculture and other governmental bodies to enhance production, reduce food inflation, and tackle post-harvest losses. According to Kareweh, the disconnect between production strategies and trade policies has hindered the growth of the sector. He highlighted the fact that increased agricultural production without a functional market often leads to a commodity surplus, which results in post-harvest losses and financial…
The Minister-designate for Trade, Agribusiness and Industry, Elisabeth Ofosu-Adjare has outlined plans to boost exports and create employment opportunities for Ghana’s youth. Speaking during her vetting last week, Ofosu-Adjare emphasized the importance of increasing production in order to meet both domestic and international market demands. She noted that the government will take full advantage of trade agreements, particularly the African Continental Free Trade Area (AfCFTA), to promote Ghana’s exports. “Once we produce more, the whole idea is to export and fortunately for us, there are a lot of trade agreements. We are going to leverage on AfCFTA and other trade…
The Minister of Energy, Hon. John Abdulai Jinapor, has conducted an inspection tour of the Tema Harbour to evaluate the status of approximately 2,500 containers procured by the Electricity Company of Ghana (ECG) but left uncleared at the port. This visit underscores the Minister’s dedication to addressing inefficiencies within the energy sector and promoting the prudent use of national resources. The uncleared containers, containing critical materials purchased under the previous administration, have accumulated demurrage charges amounting to an alarming GHc 1.5 billion. The situation reveals significant lapses in resource management and inter-agency coordination, resulting in a severe financial burden on…
Senior Partner at AB & David Africa, David Ofosu-Dorte has laid out a series of insightful projections designed to guide decision-makers through the year ahead. He highlighted critical developments businesses should anticipate as they prepare to navigate the uncertainties of 2025. Speaking at the annual Pan-African business forum, Crystal Ball Africa 2025, Mr. Ofosu-Dorte presented his predictions – structured around four key pillars: The Known, The Probable, The Wildcard, and The Watch. Here are his 15 predictions 1. It’s the year of the wooden snake; starting in February in China; and this will be marked by risk and cunningness in…
The Ghana Institute of Freight Forwarders has taken legal action against the Ship Owners and Agents Association and affiliated shipping agencies over alleged unauthorised charges and rising costs at the ports. The Freight Forwarders accuse the shipping agencies of imposing unapproved fees, including container administrative fees, processing fees, evacuation fees, container washing fees and demurrage fees. In a writ filed on January 20, 2025 and sighted by Citi Business News, the Freight Forwarders argued that these charges were introduced unlawfully, despite directives from the Ghana Shippers Authority to halt extra port fees. The Freight Forwarders want the following reliefs: A…
The Executive Director of the Africa Center for Energy Policy (ACEP), Ben Boakye has provided reasons why President John Dramani Mahama should not disappoint on his handling of the the Mineral Income Investment Fund (MIIF). He explained that the MIIF was created to facilitate the Agyapa Royalty Investments—a concept masterminded by former Finance Minister Ken Ofori-Atta and his Deputy Charles Adu Boahen to sell Ghana’s gold royalties on the London Stock Exchange. At the time the MIIF Act was passed, he said, Parliament was unaware of the true intentions behind it—the Agyapa transaction. However, the sponsors and their numerous…
As the country joins the rest of the world in commemorating the International Day of Clean Energy, Member of Parliament for Juaben Constituency, Francis Kwabena Berepong Owusu-Akyaw, has touched on the significance of clean energy and appealed for accelerated efforts towards its adoption to achieve sustainable development. In a statement posted on his Facebook page on January 22, 2025, Owusu-Akyaw described clean energy as “a powerful symbol of hope, progress, and a sustainable future,” emphasizing its potential to address global challenges such as climate change and energy insecurity. He stressed that clean energy is not just a technological advancement but…
The Producer Price Inflation declined marginally by 0.9 percentage points to 26.1% in December 2024. The month-on-month change in the PPI between November 2024 and December 2024 was however -1.4%. According to the Ghana Statistical Service, the producer price inflation in the Industry sector, excluding the construction sector decreased from 41.4% in November 2024 to 40.2% in December 2024. The rate in the Construction sector also decreased to 29.6% in December 2024. In the Services sector, the rate was 6.8% in December 2024. However, the Mining and Quarrying (42.8%), Accommodation and Food Service Activities (30.5%), and Construction (29.6%) recorded inflation…
The Ghana Revenue Authority (GRA) has exceeded its revenue target for 2024 by mobilizing GH₵153.5 billion. Data shows that the GRA mobilized GH₵7.5 billion more than the GH₵145.9 billion targeted for 2024, representing 5.3 percent higher revenues than the target. The performance, according to the GRA, represents a nominal growth of 35 percent compared to 2023. The addition of Sanitation Debt Recovery Levy, Energy Sector Debt, Sanitation and Pollution Levy, put the total revenue at GH₵157. 9 billion. The component of domestic revenue grew by 31.6 percent, while Customs revenue grew by 47.0 percent. Most of the direct tax handles…
Ghana’s external debt restructuring has had a significantly smaller impact on the capitalization of banks than the Domestic Debt Exchange Programme (DDEP). According to rating agency Fitch, regulatory forbearance continues to disguise the full capital impact of the DDEP. This, it said, has allowed certain losses to be phased into regulatory capital, and accounting that has inflated the value of the new government bonds received in the DDEP. Meanwhile, Fitch Ratings sees brighter prospects for Ghanaian banks as solvency recovers from the sovereign default and operating environment risks reduce as the sovereign external debt restructuring nears completion and the economy…