Author: Admin

Science, research, and institutional capacity must be given preeminence in Ghana’s efforts at reversing the negatives and re-setting its blue economy as a major lead to economic recovery. Mr Richster Nii Amarh Amarfio, the Executive Director of the Blue Economy and Governance Consult, said to achieve that goal, the country needed to effectively collaborate with key research institutions to build credible data on the major pillars of the blue economy. He said this in an interview with the Ghana News Agency (GNA) in commemoration of the 2024 World Fisheries Day, which is celebrated annually on November 21. “Collaborative Governance for…

Digital payment systems in Africa have grown by 37% in transaction volume over the past five years, reflecting a major shift in the continent’s financial ecosystem. ‘ This is according to the 2024 SIIPS Report, launched in Accra on Wednesday November 20, 2024. The report also reveals that there are 31 operational Instant Payment Systems (IPS) across 26 countries, with 27 more nations preparing to roll out similar systems. Despite this progress, the report highlights persistent challenges in achieving financial inclusion, particularly for women and other vulnerable groups, who face barriers such as fraud concerns and limited recourse mechanisms. Commenting…

Private capital investment across Africa recorded a combined value of $2.27 billion in the third quarter of 2024, out of which equity investment dominated debt, according to a report by Stears. The ‘Stears Private Capital in Africa Report for Q3 2024’ disclosed that out of the 73 recorded private market deals, equity was the most preferred choice. It said, “75 percent of the transactions included an equity component, with 71 percent being strictly equity-based, compared to 19 percent utilising debt.” Investopedia, a financial research platform, defines equity private capital as the ownership or interest in a company that is not…

A banking consultant, Dr. Richmond Atuahene, has warned that Ghana is likely to require another debt restructuring within the next three years if fundamental economic reforms are not implemented. Dr. Atuahene’s comments come in the wake of the Bank of Ghana’s commissioning of a new $250 million headquarters building amidst the ongoing debt restructuring process. On Wednesday, November 20, the Bank of Ghana commissioned a new headquarters called the “Banking Square” in Accra, costing a substantial $250 million amidst the significant debt burden on Ghana. This has fueled debate about the government’s priorities and its commitment to fiscal responsibility. Speaking on Starr Today,…

The Chief Investment Officer of Jospong Group of Companies (JGC), Mr. Noah Gyimah, has emphasised the need for capacity building in carbon financing. At a 29th Conference of Parties (COP29) of the United Nations Framework Convention on Climate (UNFCCC) side event panel discussion on November 14, 2024, he highlighted capacity building’s crucial role in carbon financing for developmental projects, during the session “New World of Carbon Markets: The Potential of Existing Infrastructure and Impact of Investments in the Green Economy.” “Developing capacities in both the private and public sectors is essential for understanding which projects attract carbon financing,” he noted.…

Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said that he is filled with optimism that the new headquarters of the BoG, The Bank Square will remain a significant investment in the collective future as a nation. He said this would also push the Bank towards new frontiers in central banking and demonstrate what we as a nation are capable of achieving. “We remain committed to delivering on our mandate, and this new facility should enable us to do so effectively,” Dr Addison said during the commissioning of the new facility in Accra last week. He further…

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…