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The Science and Technology Policy Research Institute of the Centre for Scientific and Industrial Research (CSIR-STEPRI) has initiated local stakeholder engagement as part of Ghana’s preparations for a future global Solar Radiation Modification (SRM) initiative. The Solar Radiation Modification (SRM) initiative is a global proposal aimed at mitigating the effects of climate change and global warming by injecting substances into the atmosphere that create reflective aerosols, which reflect sunlight back into space. The stakeholders, drawn from various sectors, including government, academia, research institutions, civil society, and the private sector, discussed the potential benefits and risks Ghana may face if SRM…
The Standard Bank Group has signed an agreement with the International Finance Corporation (IFC) to expand local currency lending and accelerate development projects across Africa. Through the agreement, Standard Bank and IFC will collaborate on cross-currency swaps and derivatives, as well as benefit from each other’s market expertise to boost access to local currency financing for businesses in Africa, especially in countries where currency liquidity is challenging. Kayode Solola, Head of Global Markets Africa Regions at Standard Bank Group said, “Driven by positive market reforms and attractive returns, global investors have shifted their gaze to Africa. There is also growing…
The Managing Director of Kuapa Kokoo Company Limited, Emmanuel Arthur, has observed the recent increase in cocoa prices in Ghana has reduced the smuggling of the commodity. According to him, the new prices have encouraged the farmers to sell their cocoa beans in Ghana to help the government gain profit. “If you look at Cote d’Ivoire, we are all buying cocoa with one price, so whoever attempts to smuggle cocoa there will incur debt; due to that, there has been a rapid reduction in smuggling,” he said. Mr. Arthur also lauded the formation of a taskforce by the Ghana Cocoa…
Newmont’s development foundation in Ahafo has constructed a three-storey multi-purpose E-block at the Yamfo College of Health, in Yamfo, one of Newmont’s ten host communities in the Ahafo region. The facility, which cost GH¢2.7 Million, is equipped with six fully furnished 80-seater lecture halls, twelve offices, a staff common room, a computer laboratory, a library, two demonstration laboratories, 24 washrooms and a storeroom. The project is expected to enhance the school’s infrastructure and address the broader educational needs of Newmont’s host communities and surrounding communities in the Tano North municipality and beyond. Newmont’s foundation in Ahafo, established in May 2008,…
A new initiative offering affordable financing and tailored business support to Ghanaian entrepreneurs has been launched. The Follow-On Finance Initiative seeks to provide growth-ready businesses with the resources needed to expand operations, create jobs, and generate income opportunities, building on the successes of the WIDU.africa project. This initiative is a collaboration between Advans Ghana Savings and Loans Ltd. and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, supported by funding from the German Federal Ministry for Economic Cooperation and Development (BMZ). WIDU.africa: A Platform for Empowering African Entrepreneurs Since 2019, WIDU.africa has provided vital support to over 6,000 micro and…
First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has indicated that building and maintaining quality infrastructure creates employment opportunities in the construction sector. According to him, a quality-built environment can stimulate local economic growth through a routine maintenance culture. This he explained will attract businesses, tourists, and investments, and ensure that property owners can always fall on such investments in times of difficulty—by creating a lot of derivatives and refinancing opportunities for other critical investments. Speaking at the 2024 Annual General Meeting of the Ghana Institute of Architects, Dr. Opoku-Afari also said a quality-built environment has numerous…
Economic activity in the country has begun to pick up, according to data released by the Bank of Ghana, (BoG). In the third quarter, the Bank’s high frequency real sector indicators pointed to a sustained pick-up in economic activity. The updated real Composite Index of Economic Activity (CIEA) recorded an annual growth of 2.2 percent in September 2024, compared to a contraction of 0.4 percent in the corresponding period of 2023. Major drivers of the improvement in economic activity include increased port activity, households and firms consumption of goods and services , construction activities, credit to the private sector, and…
Production on the Jubilee Oil Field slowed marginally to 89, 000 barrels per day (bpd) at the end of October 2024. This was captured in the November 2024 Trading Update released by Tullow Oil last week, November 28, 2024. Daily Crude Production on the Jubilee field was above 90,000 barrels a day at the end July this year. Reasons Tullow Oil in the trading statement linked the challenge to issues with some of its wells on the Jubilee Field, a development that affected total production from the area. It revealed that “The end of October update fell below expectation primarly…
A Global Financial Integrity (GFI) report, which examined 16 cases involving 24 properties and 510 acres of land, identified corporate structures, corruption, theft, and drug trafficking as common predicate crimes associated with Real Estate Money Laundering (REML) in Ghana.
The Greater Jubilee Field accounted for a substantial share of this increase, with gas exports rising by 4.6% to 18,043.31 MMSCF in H1 2024.