Author: Admin
Dean of the University of Professional Studies, Accra (UPSA) Law School, Professor Ernest Kofi Abotsi has stated that the new Governor of the Bank of Ghana (BoG), Dr Johnson Asiama faces huge monetary policy challenges. He highlighted the struggles of the Cedi, currency printing issues and borrowing from the government as some of the policy issues he faced. Prof Abosti urged him to herald a new dawn as he takes office. “A new governor assumes the leadership of the BOG in February. He comes to the office facing a mountain of monetary policy challenges -a cedi in flight, currency printing…
Minister-designate for Government Communications, Felix Kwakye Ofosu has said that the newly nominated Governor of the Bank of Ghana, Dr Johnson Asiama is overly qualified for the job. He said Dr Asaiama is a known economic and finance expert with significant acumen. “He has worked in a previous capacity as the second deputy governor of the BoG and therefore is uniquely qualified to hold the position of governor of the BoG. “That is what President Mahama considered in appointing him to the position, and we believe that he will do a very good job,” Ofosu stated. He emphasised that the…
President John Dramani Mahama, and Eni’s Chief Executive Officer, Claudio Descalzi, last week, met in Accra to discuss the company’s activities in the country. Mr. Descalzi illustrated the achievements of the Offshore Cape Three Points project (OCTP), the biggest investment made by a private company in Ghana, completed ahead of schedule and under budget, with first oil in 2017 and first gas in 2018. Gas from OCTP is entirely destined for Ghana’s domestic consumption, ensuring a safe and reliable energy source to meet internal needs, contributing around 70% of Ghana gas domestic production. Additionally, Eni has also brought to the…
The Ghana National Gas Company Limited (GNGL) is facing a debt crisis, primarily due to the inability of the Volta River Authority (VRA) to meet its debt service obligations. As of June 30, 2024, GNGLC’s debt to the Ghana National Petroleum Corporation (GNPC) soured above US$626 million, a significant jump from over US$559 million in the same period last year. This represents a concerning 12.1 % growth in debt, much higher than the 7.4% recorded in the first half of 2023. The increase, as highlighted in a Public Interest Accountability Committee (PIAC) report for the first half of 202,4 is…
Mining giant, Asante Gold has reported a significant ramp-up in activity to accelerate growth initiatives at its Bibiani mine. This is supported by the immediate deployment of proceeds from the initial US$100 million gold forward sale. In a statement to investors and the general public, it said the acceleration of stripping activities at the Main pit and the Russel pit, with 300% increase in monthly material movement is expected by June 2025 compared to recent levels. The Bibiani monthly gold production is expected to increase to 9,000 ounces by February 2025 and to 23,000 ounces by September 2025. Dave Anthony,…
Former Finance Minister Dr Mohammed Amin Adam has urged his successor, Dr Cassiel Ato Forson, to accelerate Ghana’s tax reforms and achieve an 18% tax-to-GDP ratio by the end of 2025, two years earlier than the initial 2027 target. Contributing to a statement in Parliament, Dr Amin Adam argued that the previous administration had made significant progress in boosting tax revenue, with the tax-to-GDP ratio rising from 13.8% in 2022 to 17% by the close of 2024. He maintained that increasing it by just one more percentage point in a year is achievable, given the existing digital tools and…
The global series of the Ghana Property & Lifestyle Expo (GPLE) has announced record attendees and retail estate transactions at its “three continents in three months” event. Since its launch nearly nine years ago, the GPLE and its founders’ sisters Anna and Victoria Agyekum, have been at the forefront of transforming the real estate market in Ghana driving its continuing boom in investment, property, and tourism. With residential real estate in Ghana set to hit US$456.10 billion by the end of 2025, analysts also reveal the sector will maintain a steady growth averaging 3.44% each year between now and…
The Environmental Protection Authority (EPA) has moved to halt mining operations along the tributaries of the Offin River at Pasoro in the Ashanti Region. The EPA has observed most of the illegal miners have failed to halt activities near river bodies. Chief Executive Officer, Prof. Nana Ama Browne Klutse, has revealed the EPA will ensure all mining along river bodies are ceased to restore the sanctity of water bodies. “When we came we didn’t find the miners on the ground but we saw the destruction done here. The pits we have seen will have to be reclaimed, we need…
The Ghana Grid Company Ltd (GRIDCo) has assured the public of measures to prevent power outages, commonly known as “dumsor,” during the rescheduled maintenance by the West Africa Gas Pipeline Company (WAPCo). The maintenance, which began on February 5, is expected to conclude on March 2, 2025. In a joint statement, GRIDCo and the Electricity Company of Ghana Ltd (ECG) confirmed that, under the leadership of the Ministry of Energy and Green Transition, substantial volumes of liquid fuel have been secured to power key plants in Tema as an alternative energy source. Nana Amoasi VII, Executive Director of the Institute…
Following the conclusion of minimum wage negotiations, discussions will shift to the base pay for public sector salaries, which is a critical aspect of wage determination for the Government of Ghana’s workforce