Author: Admin
The Electricity Company of Ghana Training School, located at Tema is set to become the second phase of the Electrical Engineers Training for African Countries, sponsored by the Japanese International Cooperation Agency. The training programme, set to begin on October 7, 2024, and run until November 22, 2024, will involve participants from nine African countries who will be trained on strengthening the electricity transmission and distribution network, promoting the introduction of renewable energy, and promoting energy efficiency. It will also focus on developing human resources and strengthening human networks in the energy sector. Speaking at the launch of…
The Minister of Communications and Digitalisation Ursula Owusu-Ekuful has announced that all is set for the 5G service to be rolled out from November 1, 2024. The Minister disclosed this during an interview in Accra last week. Mrs. Owusu-Ekuful noted that the necessary structures have been put in place for the service to commence. Government had earlier announced that the 5G service will be rolled out by the end of this year. What is 5G service? 5G service has been described as the Fifth Generation of Wireless Technology, which offers higher internet speed, higher upload and download speed, with…
The Bank of Ghana’s eCedi has been adjudged the winner of the innovation in digital currency design for financial inclusion by the Currency Research at the 2024 Payment, Innovation and Technology Week held from the 23 to 26 September 2024 in London, United Kingdom. The award was on account of the Bank’s compelling demonstration of the eCedi’s design elements, encompassing governance, accessibility, (online and offline), interoperability, and infrastructure with the potential to promote financial inclusion. The award was also in recognition of the Bank’s ecosystem engagement approach, which included the: Participation of banks and payment service providers during the…
by Elorm Desewu The framework for Ghana’s Green Finance Taxonomy is ready and its implementation would begin by next year May. The Green Finance Taxonomy is designed to support interventions that address climate change, environmental protection, resource efficiency and promote sustainable development. The framework serves as a critical tool for translating Ghana’s environmental and climate policy objectives into actionable criteria for investment and business decisions. The Green Finance Taxonomy will be rolled out in phases: beginning with qualitative criteria development for the selected sectors (Phase 1), followed by the introduction of quantitative thresholds, tax exemptions and sector-based incentives by May…
This pushed September 2024 inflation up to 21.5% from 20.4% recorded in August.
This is to help ensure that, the issuance of the recently launched Ghana Gold Coin does not promote money laundering and terrorism funding in the country.
Looking ahead to the second half of 2024, Fitch expects growth to remain strong, although it will decelerate from the high recorded in the second quarter.
The Gross International Reserves increased by US$1.58 billion to US$7.50 billion at end-August 2024, equivalent to 3.4 months of import cover.
by Elorm Desewu Banks’ credit to the private sector from January to August has recorded a growth of 21.7 percent in 2024, from 10.7 percent in August 2023. In real terms, private sector credit recorded a growth of 1.1 percent, relative to a 21.0 percent contraction in 2023 The banking sector’s performance continued to improve, with assets growing at 38.7 percent at end-August 2024, compared to 19.6 percent in August 2023. Both pre-tax and after-tax profits were higher in the first eight months of 2024 relative to the same period last year. The Capital Adequacy Ratio (CAR) of the industry…
by: Leslie Mensa Tamakloe For many years, Ghana has been beset by the illicit mining problem known as galamsey, which has resulted in financial losses, health risks, and environmental damage. Information Technology (IT) presents a revolutionary answer to the limited success of old techniques of battling galamsey. The use of IT to prevent galamsey and advance environmentally friendly mining methods is examined in this article. The Galamsey Menace Galamsey, a local term for illegal mining, has become a significant challenge for Ghana. The practice involves unauthorised mining, often using primitive methods, resulting in environmental damage, water pollution, and health risks.…