Author: Admin
A Canadian non-governmental organization supporting rural women in agricultural areas has identified illegal mining, commonly referred to as galamsey as a major economic risk to women in cocoa farming. Agricultural Risk Management Specialist for SOCODEVI, Samuel Apenteng observed many women in rural areas have had their cocoa farms destroyed by illegal miners. He said many are also finding it difficult to get labourers to support their work. Speaking at a durbar to commemorate the 2024 International Rural Women’s Day in the Ashanti Regional town of Dompoase, some of the farmers shared experiences of how their lives have been affected by…
The National Petroleum Authority (NPA) has announced a new Price floor for the second pricing window, from 16th -31st October 2024. The authority has set GH₵12.73 for petrol and GH₵13.43 for diesel. The development means that no oil marketing company should be selling below the price quotes. The NPA in the notice to the Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas (LPG) marketers advised all the players to comply with the above price floors for the window. It added that the price floors exclude the premiums charged by International Oil Trading Companies (IOTCs) and the operating margins of BIDECs,…
The West Africa Competitiveness Programme (WACOMP), implemented by the United Nations Industrial Development Organization (UNIDO) and funded by the European Union (EU) has concluded in Ghana, after more than five years of work. The initiative, which had a budget of €6,350,000, aimed to improve the competitiveness of the cassava, mango, pineapple, cosmetics, and personal care product value chains. The project has had a significant impact, benefiting 48,849 small and medium-sized enterprises (SMEs), including more than 31,000 women-owned businesses, and continuously improving their competitiveness in accessing national and international markets. Using UNIDO’s 5 Cs for competitiveness (coordinate, compete, conform, connect, and…
The government, fortnight ago, announced success in securing almost 100% participation in the Eurobond Debt Exchange Programme, which concluded on 30th September 2024.
The debt restructuring exercise, a key requirement under the International Monetary Fund (IMF) programme, was part of efforts to address Ghana’s growing debt burden and secure a US$3 billion bailout over three years.
Cedi improves rallying on debt restructuring and IMF assessment successes
A recent survey by Deloitte has revealed that businesses in Ghana’s upstream oil and gas industry expect their investment decisions, particularly in waste management, to be influenced by the introduction of the emissions levy. The levy, which was introduced in the 2024 National Budget under the Emissions Act 1112, imposes a tax on carbon dioxide equivalent emissions across several sectors, including oil and gas, construction, manufacturing, mining, and electricity generation. According to the survey, 40% of respondents indicated that the emissions levy would drive their investments towards cleaner technologies. Awareness of the Ghana Revenue Authority’s levy is also high, with…
The Board of Directors of the ECOWAS Bank for Investment and Development (EBID), at its 89th Ordinary Session, approved investments totalling EUR 61 million and USD 100 million to stimulate the infrastructure, trade, and sustainable development sectors in West Africa. The session was held on fortnight ago, at the Bank’s headquarters in Lomé, Togo, under the chairmanship of Dr George Agyekum Donkor, President and Chairman of the Board of Directors. A press statement said Dr Donkor emphasised that the approved investments are in line with the Bank’s mission to promote sustainable development and regional integration for the ECOWAS sub-region…
Trade volumes on Ghana’s secondary bond market have fallen for the second consecutive week, dropping 15.56% to GH¢609 million, down from GH¢722 million. Market activity remained largely focused on the shorter end of the yield curve, with the February 2027 bond accounting for 47.2% of all trades. This marks the third consecutive week where this bond has dominated trading, with its average yield to maturity (YTM) decreasing to 23.72%, down from the previous week’s 24.13%. In total, the shorter and mid-segments of the yield curve represented 79.44% and 20.56% of trades, respectively, with average yields of 23.32% and 24.91%. However,…
Ghana’s petroleum industry faces significant hurdles that threaten its growth, according to Deloitte’s October 2024 Oil and Gas Industry Survey. The report reveals that a substantial 46 per cent of industry stakeholders identify “high tax rates” as the most pressing concern for the sector, impacting both profitability and overall competitiveness. In light of these challenges, around 42 per cent of industry players are advocating for tax amnesty, arguing that it could create a more conducive environment for businesses to flourish. The survey also uncovers a critical issue regarding access to foreign currency, with approximately 80 per cent of respondents needing…