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The Ghana Free Zones Authority is ramping up efforts to attract investment and drive industrialization. Acting Chief Executive Officer, Dr. Mary Awusi, has highlighted the importance of streamlining processes, strengthening regulatory support and providing timely business facilitation services to stakeholders to foster a more investor-friendly environment. During a staff engagement at the Authority’s Tema office, Dr. Mary Awusi shared her vision for enhancing efficiency and boosting investor confidence. She emphasised that a well-structured Free Zones regime is essential for economic growth and job creation. “By streamlining processes, strengthening regulatory support and offering timely business facilitation services, we will create a…
The Ministry of Energy has assured that the US$379 million debt owed to Karpowership, the operator of the Aboadze power barge, will not affect power supply. Karpowership has threatened to suspend electricity supply unless the government settles the outstanding arrears. Citi News understands that the sector Minister, John Jinapor, has engaged Karpowership on plans to clear the debt. In an interview with Citi News, the Public Relations Officer for the Ministry, Isaac Agyei Kwakye, assured that the government will take steps to prevent any disruption in power supply. “The Minister is of the view…
Energy sector players are pushing the Office of the Special Prosecutor (OSP) to extend its investigation into the management of petroleum funds to include past Chief Executive Officers (CEOs) of the National Petroleum Authority (NPA). This demand follows the OSP’s probe into the alleged embezzlement of GHc 1.3 billion from the Unified Petroleum Price Fund (UPPF) under the tenure of former NPA CEO Mustapha Hamid. The fund, designed to stabilise fuel prices and ensure the nationwide distribution of petroleum products, plays a critical role in Ghana’s energy sector. However, allegations of misappropriation have cast doubt on its administration. Kojo…
Dr. Forson emphasised the need to cut wasteful spending, urging decisive action to stabilise the economy. “We need to cut the waste! The time is now. We must work in a way that stabilises inflation, the exchange rate, and creates jobs.”
The latest Public Finance Review of Ghana’s economy report launched by the Bank highlights the urgent need for Ghana to reset its fiscal strategy by boosting domestic revenue, rationalizing tax exemptions, and enforcing stricter expenditure controls
The report, however, noted that Ghana has made progress toward economic stabilisation but warned that more needs to be done to meet monetary and fiscal targets and create lasting fiscal space.
In the meantime though Ghanaian cocoa farmers and industry officials expect a boost in the 2024/2025 season due to improved weather conditions and some rehabilitation efforts.
The Ministry for Energy and Green Transition, under the leadership of Hon. John Abdulai Jinapor, Minister for Energy and Green Transition, Republic of Ghana, is set to host Africa Oil Week (AOW) 2025, the continent’s largest energy event focused on upstream development and finance. Taking place from 15th – 18th September 2025 at the Kempinski Hotel in Accra, this high-level gathering will bring together Ministers, National Oil Companies (NOCs), regulators, and private sector leaders to unlock investment, drive strategic energy partnerships, and shape the future of Africa’s upstream industry. Hon. John Abdulai Jinapor, Minister for Energy and Green Transition,…
The Special Prosecutor, Kissi Agyebeng, has launched an investigation into suspected corruption and related offences within the operations of the Minerals Income Investment Fund (MIIF). He raises concerns over financial mismanagement in the country’s sovereign minerals fund. Addressing the press last week, Agyebeng disclosed that the probe would scrutinize payments tied to several high-profile projects and transactions. These include MIIF’s dealings with Agyapa Royalties Limited, the Small-Scale Mining Incubation Programme (SSMIP), the Quarry Value Addition Programme (QVAP), Asante Gold Corporation, ElectroChem Ghana Limited, the Lithium Asset Project, Gold Asset 2 (Enchi Gold Project) and other investments under the fund’s…
President John Mahama has appointed Kwasi Afreh Biney as the new Director-General of Social Security and National Insurance Trust (SSNIT), replacing Kofi Bosompem Osafo-Maafo. This change comes alongside the termination of contracts of three deputy directors-general. His appointment follows the dismissal of Kofi Bosompem Osafo-Maafo, who had been in charge since April 2024. In addition to Biney’s appointment, Adam Sulley has been named the Deputy Director-General responsible for Operations and Benefits. These changes come alongside the termination of contracts for three deputy directors-general, signalling a broader restructuring within SSNIT. The affected officials include: Kwame Adu-Darkwa – Deputy Director-General, Finance and…