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The Minister for Energy and Green Transition, John Abdulai Jinapor, has assured Ghanaians that the government remains confident in successfully addressing the financial challenges confronting the energy sector. His statement follows discussions held during the National Economic Dialogue, where concerns over the sector’s financial sustainability were a major focus. In a Facebook post last week, Mr Jinapor reiterated the government’s commitment to resolving the financial issues. “At the National Economic Dialogue, the financial challenges in the energy sector were one of the main topics, but we remain confident in dealing with the issues,” he stated. The energy sector has been…

The Acting Managing Director of SIC Insurance PLC, Mr. James Agyenim-Boateng, has called on state-owned enterprises (SOEs) and other institutions with state interest to insure their businesses with SIC Insurance PLC. Mr Agyenim-Boateng assured that SIC Insurance PLC is stable, has strong financial muscle and pays claims on time. He was speaking during a courtesy call on the Acting Chief Executive Officer of the Petroleum Commission, Ghana, Ms. Emeafa Hardcastle, at the Commission’s head office in Accra. Mr Agyenim-Boateng said his visit was to explore closer collaboration with the Petroleum Commission and to solicit the support of its Chief…

The World Bank has said that last year’s State of Food Security and Nutrition in the World report found that up to 733 million people globally suffered from malnutrition in 2023, an increase of 152 million since 2019. This sharp rise, according to the World Bank, underscores the escalating crisis of hunger and food insecurity worldwide. It noted that hidden hunger is affecting 2.8 billion people. The same report concluded that rising food prices and income inequality have led to 2.8 billion people being unable to afford a healthy diet in 2022, contributing to what is termed as “hidden…

Economist and finance lecturer at the University of Ghana Business School, Professor Lord Mensah, anticipates that the 2025 budget will be restrained. The government is signaling plans to moderate expenditures while scraping multiple taxes. “I believe that with the signal that they [government] have provided, we will see a conserved budget. A budget that expenditures will be moderated very well to the extent of not denying any essentials but then being measured as far as our expenditure appropriations are concerned,” Prof. Mensah noted. Among the key tax measures expected to be abolished are the COVID-19 levy, the betting tax, and…

Last week’s National Economic Dialogue was held despite earlier misgivings about the time available in the face of the looming March 11 date for the presentation of the 2025 budget to Parliament. Although the Dialogue may have come too late for its recommendations to be fully incorporated into the 2025 budget – especially with the International Monetary Fund inevitably placing constraints on the expansionary aspects – those recommendations provide a good framework for a homegrown medium term economic plan to achieve sustainable economic growth. But the Dialogue has failed to correctly address a fundamental shortcoming with regards to Ghana’s public…

Ghana’s Minister of Trade, Agribusiness and Industries, Elizabeth Ofosu-Adjare, has strongly encouraged Sunda Ghana Company Limited to leverage the government’s forthcoming 24-hour economy programme. During her recent visit to Sunda Ghana, a prominent manufacturer of fast-moving consumer goods in the ECOWAS region. This initiative, aimed at enhancing productivity and operational efficiency, is expected to provide significant opportunities for local industries. With a total investment of $240 million and the capacity to produce essential goods such as baby diapers, washing powder, and sanitary pads, Sunda Ghana plays a vital role in the national economy. During her tour of the company’s…

A delegation from the World Bank, led by Division Director Robert Taliercio O’Brien, paid a courtesy call on the Minister for Roads and Highways, Governs Kwame Agbodza, last week. The visit aimed to discuss ongoing and future road projects funded by the World Bank and explore new partnership opportunities to address Ghana’s road infrastructure challenges. In a statement shared on the Ministry’s official Facebook page on Tuesday, Mr Agbodza expressed gratitude for the World Bank’s continued support in improving Ghana’s road network. He emphasised the importance of increased funding and technical assistance to accelerate the completion of critical projects…

Ghana Link Network Services Ltd has reassured stakeholders that no data was lost during the scheduled upgrade of the con October 23, 2024. The planned system optimization, aimed at enhancing performance, data security, and storage efficiency, led to a brief interruption in user access. In a statement released by the company, officials confirmed that all attached documents and historical records from 2020 to 2024 remain fully intact. “We confirm that all documents and records within the ICUMS system are secure and retrievable,” the statement read. The upgrade, described as a necessary step to boost system efficiency, was conducted in…

Dr Mary Awusi, the newly-appointed CEO of the Ghana Free Zones Authority, is on a passionate quest to drawing foreign investors into Ghana to support the government’s 24-hour economy initiative. At the 3rd US-Ghana Business Expo Roundtable and B2B Matching event held in Lancaster, Pennsylvania, USA, Dr Awusi noted President John Mahama’s vision to materialise an enabling environment so businesses could operate day and night, driving productivity, creating jobs, and feeding the economy. According to Dr Awusi, the government had its eyes on harnessing the power of technology to improve the agricultural sector, promoting agro-processing and manufacturing. She said…

A new report from the Ghana Statistical Service (GSS) reveals a significant productivity gap in Ghana’s informal sector, which employs nearly 80% of the country’s workforce yet contributes only 27% to the Gross Domestic Product (GDP). The first-ever National Report on Productivity, Employment, and Growth warns that low productivity, underemployment, and stagnant wages in this vital sector pose a serious challenge to economic growth. According to the report, between 1991 and 2019, Ghana’s labour productivity grew at an average of 3.2% annually, with gains largely confined to capital-intensive sectors such as mining and finance. Although the manufacturing sector experienced a…