Author: Admin
The Asian African Consortium (AAC), a subsidiary of the Jospong Group, has launched the Jospong Rice, the newest addition to Ghana’s agricultural scene. Launching the AAC-branded rice product at the Agrifest 2024 in Accra on the theme; “Building Climate-Resilient Agriculture for Sustainable Food Security, the Minister of Food and Agriculture, Bryan Acheampong, endorsed it as “Authentic Ghanaian rice”. This high-quality rice is grown and processed in Ghana, meeting international standards to ensure a delicious and nutritious product for consumers. The initiative supports local farmers and the economy, demonstrating AAC’s dedication to strengthening Ghana’s agricultural sector. By promoting local production, Jospong…
Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has questioned the government’s current approach to local content in energy projects. He describes the government’s current approach as superficial. “Local content should not mean just putting a Ghanaian face on a business. It should involve building production capacity within the country,” he said during NorvanReports and Natural Resource Governance Institute (NRGI) X Space discussion on “Powering Ghana’s Future: Political Promises vs CSO Demands – Are We Ready for the Green Shift?”, He added that policies should focus on skills transfer, local innovation, and long-term economic growth. To…
Last week, a stakeholder policy engagement on fisheries governance implications of foreign-owned industrial vessels operating in the domain of Ghana has been held to promote transparency, accountability and local capacity. The discussions, learning, exchange of ideas and recommendations of the engagement are part of a project, titled “Promoting Transparency, Accountability and Local Capacity to Address the Destabilizing Impacts of Foreign-Owned Distant Water Fishing Vessels in the Gulf of Guinea and the Waters of Mauritania.” The focus countries for the project are Benin, Cameroon, Cote d’Ivoire, Ghana, Mauritania, Senegal and Sierra Leone and with funding from the Department of State, U.S.…
Ecobank Transnational Incorporated (ETI), parent of the leading pan-African Ecobank Group, today opened the market at the London Stock Exchange (LSE) to celebrate the successful issuance of its US$400 million Senior Unsecured Eurobond on the London Stock Exchange main market. Jeremy Awori, CEO of Ecobank Group, said: “Our successful Notes issuance demonstrates how Ecobank is blazing the trail for sub-Saharan African financial institutions and corporates in accessing the international capital markets. The Notes are ETI’s third issuance on the international bond markets and the first public Eurobond issuance by a financial institution in sub-Saharan Africa since 2021. With the bond…
Total pension funds recorded a significant growth to GH¢84 billion as of the 3rd quarter of 2024. This is compared with GH¢61.8 billion recorded in December 2023 and GH¢46.6 billion in December 2022. According to the National Pensions Regulatory Authority (NPRA), the Tier-2 pension fund managed by private pension firms constitutes the biggest with a share of 54%. This is followed by the Tier-1 managed by the Social Security and National Insurance Trust with a share of 25% and Tier-3 (provident fund) with a share of 21%. About 75% of the pension funds are invested in treasury bills, treasury notes,…
Ghana would have access to about $360 million in terms of disbursement”, the Director of Communications at the IMF Julie Kozack disclosed at news conference in Washington DC USA.
Eric Anthony, Supervisor, Chief Revenue Officer, for Upstream Petroleum Audit at the Large Taxpayers Office of the Ghana Revenue Authority’s (GRA) Domestic Tax Revenue Division, has shared that employees in Ghana are expected to file annual income tax returns with the GRA by April 30, 2024, every year. Previously under Section 125 of Act 896, employees were not expected to file their own returns but per amendment 924, they are now required to file their annual income tax returns four months after the end of the basis period which falls on 31st December for all employees. And by Regulation 12…
The Producer Price Inflation (PPI) rate for October 2024 shot up by 2.5 percentage points to 33.0%. This was from 30.5% in September 2024. According to the Ghana Statistical Service, the month-on-month change in the PPI between September 2024 and October 2024 was 3.0%. The PPI in the Industry sector, excluding the construction sector increased from 43.3% in September 2024 to 48.8% in October 2024. The rate in the construction sector also increased to 31.5% in October 2024. In the Services sector, the rate recorded the same as 12.4 percent in October 2024. Similarly, the Mining and Quarrying (54.3%), recorded…
The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, has stated that the country continues to endure power challenges due to the mismanagement of public funds by the governing New Patriotic Party (NPP). He said the government’s failure to pay Independent Power Generators (IPGs) – the producers of electricity that support the state-owned Akosombo plant is to blame for the current disruptions in power supply. Mr Ablakwa claimed that his recent discussions with some independent power producers in the country revealed that the government owes them substantial amounts of money. “We have a real problem at hand. I…
President of the Ghana Rice Inter-Professional Body (GRIB) Nana Adjei Ayeh, II Rice farmers say they are yet to benefit from the second phase of the Planting for Food and Jobs Programme. In an interview with JoyBusiness, the President of the Ghana Rice Inter-Professional Body (GRIB) Nana Adjei Ayeh, II bemoaned the lack of support from government, especially in the roll out of the programme. He pointed out that although the policy has a good outlook, many rice farmers are yet to experience practical outcomes. “We saw a very good programme, the PFJ (Planting for Food and Jobs) 2.0. I…