Business Archives - Ghana News Express

Ghanaian Entrepreneur Lorraine Wright-Boateng Encourages Investment In Ghana

16Nov

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Business

Ghanaian Entrepreneur Lorraine Wright-Boateng Encourages Investment In Ghana

In an effort to foster economic ties between the Ghanaian Diaspora and their homeland, Lorraine Wright-Boateng MBE is leading the charge for increased business and investment opportunities in Ghana. The entrepreneur, who divides her time between the UK and Ghana, aims to facilitate stronger connections between the two nations and ease the complexities of navigating Ghana’s business and investment landscape. “My passion to bridge the gap between the Ghanaian Diaspora and Ghana, namely in the space of business and investment opportunities, is my main driver. As someone who lives in both the UK and Ghana, I understand the importance of staying connected to both countries. I want to help others build and maintain their connection with both countries and navigate the business and investment la...

Ghana National Chamber of Commerce and Industry to host Women’s Conference on Nov. 15

11Nov

By Gh News ExpressNo Comments

Business

Ghana National Chamber of Commerce and Industry to host Women’s Conference on Nov. 15

The Ghana National Chamber of Commerce and Industry (GNCCI) in collaboration with the GIZ Trade Hub will on November 15 host the GNCCI Women’s Conference 2023 in Accra. The Conference is to educate women-led/women-owned businesses on the protocols and implementation of the Africa Continental Free Trade Area (AfCFTA) Agreement and discuss challenges faced by women in the Small and Medium Enterprises (SME) sector within the context of Agreement. The event, supported by the GIZ Trade Hub, is on the theme: "Making AfCFTA Work Through A Deliberate Inclusion Of Women.” It is also to explore opportunities presented by AfCFTA for women entrepreneurs, interact with women entrepreneurs to understand their challenges and preparedness for trading under Agreement and present policy recommendations ...

COCOBOD says on course to secure syndicated loan for 2023/2024 Crop Season

11Nov

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Business

COCOBOD says on course to secure syndicated loan for 2023/2024 Crop Season

The Ghana Cocoa Board (COCOBOD) says it is still in the process of securing the syndicated loan for the 2023/24 Crop Season and has received firm assurance from bankers. In a statement COCOBOD said it initially planned a two-prong financing for the 2023/2024 Crop Season to diversify its source of funding for the annual cocoa purchases. The strategy was therefore to use a pre-financing arrangement with the international buyers to raise an amount of US$400 million for purchases at the beginning of the Season in September 2023. A statement issued in Accra said these initial funds were expected to be augmented by an additional US$800 million loan from a syndicate of lenders by the end of November 2023. However, it said after engagements with buyers for several weeks, the arrangement was di...

Business community encouraged to leverage South Africa, Ghana visa waiver agreement

7Nov

By Gh News ExpressNo Comments

Business

Business community encouraged to leverage South Africa, Ghana visa waiver agreement

The business community in the tourism, sport and entertainment industries in Ghana has been encouraged to take advantage of the visa waiver agreement between Ghana and South Africa for the mutual benefit of both countries. Mr. Thekos Rokolojane, Head of South Africa Tourism, West Africa, speaking at the launch of the Ghana-South Africa bilateral visa waiver at the residence of the South Africa’s High Commissioner to Ghana, said the waiver had a reciprocal effect on Ghana due to the tourism and entertainment potentials of the country. He said the visit of South Africans to Ghana and their participation in entertainment, arts, and sporting activities presented an opportunity for the business community, particularly tour guides and operators to take advantage of the development to grow thei...

Africa Finance Corporation exits stake in Ghana’s Takoradi Port to Yilport Holding

3Nov

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Business

Africa Finance Corporation exits stake in Ghana’s Takoradi Port to Yilport Holding

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has exited its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana’s Takoradi Port, to the global ports and container terminals operator Yilport Holding. This is testament to the Corporation’s ability to attract international 3rd party capital and exit strategic infrastructure assets built by derisking through AFC’s unique project development and construction offering. In 2019, AFC committed to invest up to US$138 million in equity and debt for the Takoradi Port Expansion Project. The project, which is approaching the operational phase, reduces the cost of imports and exports to and from the western and central region...

GIPC meets stakeholders in Bono East to help attract investors

28Oct

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Business

GIPC meets stakeholders in Bono East to help attract investors

A team from the Ghana Investment Promotion Centre (GIPC) has begun a sensitisation tour at Techiman in the Bono East Region to meet stakeholders on how to attract both local and foreign investors to boost development in the area. The tour on the theme, “Grow in Ghana, grow with Ghana”, would cover Bono East, Bono, Ahafo, Volta, Oti, Eastern and the Greater Accra Regions to raise awareness about the functions of the GIPC, shore up local investments, and assist Small and Medium Enterprises scale up to attract investments. The team will meet processors, local investors and small-scale enterprises, the Metropolitan, Municipal and District Assemblies (MMDAs) and traditional authorities on the need to make land available for investment purposes and again visit businesses that have investment ...

Ecobank Day 2023 focused on the acquisition of digital skills by Africa’s children and youth

24Oct

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Business

Ecobank Day 2023 focused on the acquisition of digital skills by Africa’s children and youth

The Ecobank Group (http://www.Ecobank.com), the leading pan-African banking group, celebrated the 10th anniversary of Ecobank Day, its flagship social impact event, last Saturday, October 21, 2023. To mark the occasion, Ecobank launched a three-year ‘Transforming Africa Through Education’ campaign, which it kicked-off with a focus on digital education and equipping children and youth with the digital skills they need for the jobs of tomorrow. Jeremy Awori, Chief Executive Officer of Ecobank Group, said: “Ecobank Day reflects the giving spirit of all 14,000 Ecobankers across the Group. For 10 years, it has given us an opportunity to manifest our commitment to making a positive impact in the communities we serve. This year, we focus on digital education, which is critical for Africa to leap...

Ghana dollar bonds tumble as investors balk at debt overhaul plans

19Oct

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Business

Ghana dollar bonds tumble as investors balk at debt overhaul plans

Ghana's sovereign dollar bonds dropped sharply on Tuesday after a government presentation of debt rework scenarios that aimed for a haircut of 30% to 40% on the principal disappointed investors. Some bonds fell to their lowest level in three months, with the 2061 issue down as much as 2.9 cents on the dollar to 38.9 cents, Tradeweb data showed. The bonds later recovered some ground, though were still down between 1.5 cents and 2.5 cents on the dollar. The West African country, which produces gold, cocoa and oil, is in talks with bilateral and commercial creditors to restructure its debts during its worst economic crisis in a generation, having been locked out of international capital markets as it struggles with spiralling domestic debt costs. Apart from the haircut, Finance Minister Ke...

Inflation to reduce to 26.7% by December, 15% by end of 2024 – Akufo-Addo

18Oct

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Business

Inflation to reduce to 26.7% by December, 15% by end of 2024 – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo is predicting a reduction in the country’s inflation rate by the close of this year, 2023. Inflation is the rate of increase in prices over a given period of time. Ghana’s current inflation rate stands at 38.1 percent as of September 2023. According to the president, measures are being put in place by the government to revive the economy and tame inflation. President Akufo-Addo was speaking at a meeting with the Christian Council of Ghana at the Jubilee House when he made the remarks. “The signs are becoming clearer and clearer, the very high rate of inflation that we suffered last year is coming down. By the end of this year, we will be looking at 26.7 percent.” “By the end of next year, we will bring it down to 15. We have to go down to the sing...

Inflation rate for September falls to 38.1 per cent

13Oct

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Business

Inflation rate for September falls to 38.1 per cent

The year-on-year inflation rate for September 2023 fell to 38.1 per cent from 40.1 per cent in August 2023. This means that in September 2023, the general price level was 38.1 per cent higher than in September 2022. Month-on-month inflation between August 2023 and September 2023 was 1.9 percent Professor Samuel Anim, the Government Statistician at a press briefing, said the Consumer Price Index for September 2022 was 194.2 relative to 140.6 for September 2022. He said food inflation contributed 49.4 per cent to all inflation compared to last month’s food inflation of 51.9 per cent and non-food inflation at 29.3 per cent. Meanwhile, the month-on-month food inflation was 1.6 per cent. Inflation for imported items was 39.9 per cent compared to Inflation for locally produced items at 37.3...