Saturday, November 1

Business

Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review
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Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review

Mr. Anthony Dagadu, an Economic Expert in the Volta Region, has commended the government for what he described as a positive and impactful 2025 Mid-Year Budget Review, highlighting its potential to drive economic growth and development. He said the review was an important step in assessing the government’s fiscal performance and making necessary adjustments to strengthen the economy. In an interview with the Ghana News Agency, Mr. Dagadu stated that public sentiment was largely optimistic, with expectations that the review had addressed key economic challenges and provided a clear direction for the second half of the year. “The review clearly outlined strategies to stimulate economic activity and improve public services. It was communicated in a way that was understandable to ordi...
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AfDB reviews Ghana’s $850M development portfolio
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AfDB reviews Ghana’s $850M development portfolio

The African Development Bank (AfDB) has conducted a performance review of its US$850 million project portfolio in Ghana to improve delivery and ensure alignment with national development goals. The Country Portfolio Performance Review (CPPR), held jointly with government officials on Tuesday, evaluated investments in the social, agriculture, transport, energy, water, sanitation, and multi-sector domains, aimed at supporting industrialisation, private sector growth, and regional integration. Key projects reviewed included the Post-COVID-19 Skills Development and Productivity Enhancement Project (PSDPEP), which involves the rehabilitation of the Ghana News Agency’s head office and two regional offices. In the agricultural sector, the Savanna Agriculture Value Chain Development Proje...
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Cedi gains, inflation drop raises rate cut hopes 
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Cedi gains, inflation drop raises rate cut hopes 

Ghana may see lower interest rates soon, as ongoing disinflation and currency stability prompt cautious optimism among commercial banks.  Speaking at the 11th Absa-UPSA Law School quarterly banking roundtable in Accra, Mr John Awuah, Chief Executive Officer of the Ghana Association of Banks, said the expected change hinges on the upcoming Monetary Policy Committee meeting, scheduled for July 28, 2025.  “We have seen where we are now – where inflation is at 13.7 per cent [and] we hold the view that the central bank has to take a second look at the monetary policy rate,” he stated.  He described the recent decline in inflation and Cedi appreciation as positive for business planning and a trigger for downward revisions in bank lending rates.  Mr. Awuah explained that the...
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COCOBOD sensitises farmers on producer price for 2025/26 cocoa season  
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COCOBOD sensitises farmers on producer price for 2025/26 cocoa season  

The Cocoa Health and Extension Division of the Ghana Cocoa Board (COCOBOD) has engaged cocoa farmers in the Bodi District of the Western North Region to educate them on the producer price for the 2025/2026 cocoa season.   Mr Kennedy Osei Ampofo, an Officer at the Public Affairs Department of the Cocoa Health and Extensions Division, during the engagement acknowledged the hard work of the farmers, and promised them of COCOBOD’s readiness to continue supporting them to produce more cocoa for the country.   “We appreciate your efforts and hard work for the country, because cocoa is the back bone for Ghana's economy.   That is the reason why even with the appreciation of the Ghanaian Cedi against the US dollar, we continue to buy a bag of cocoa at GHC3,100.00 from the last s...
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BoG develops comprehensive framework to guide Non-Interest Banking, Finance sector-Prof Gartchie  
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BoG develops comprehensive framework to guide Non-Interest Banking, Finance sector-Prof Gartchie  

The Bank of Ghana (BoG) is developing a comprehensive framework to guide the sector, as the central bank upscales measures for the introduction of Non-Interest Banking and Finance (NIBF) in country, Professor John Gartchie Gatsi, Advisor, BoG said at the weekend.The NIBF operates in accordance with Islamic law (shariah) which prohibits excessive uncertainty and investments in industries like alcohol, gambling, and pork-related businesses.Prof Gatsi said the BoG was undertaking extensive engagements with stakeholders, including academic institutions, including the Securities Exchange Commission and other professional bodies, and to shape the formulation of the framework.Additionally, the central bank had also held engagements with Nigeria banks and capital market players, saying “our target...
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Stellenbosch Business School panel proposes key reforms for robust intra-African trade  
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Stellenbosch Business School panel proposes key reforms for robust intra-African trade  

Stellenbosch Business School’s Thought Leadership Panel Discussion on “Boosting Intra-African Trade and Investment: Priorities and Levers for Action” saw guest experts propose key reforms to transform intra-Africa trade.   The panel, featuring diverse expertise from investment, insurance, law, finance, academia, and digitalisation, delved into the challenges of Africa’s internal trade and the policies needed to address them.    Among the experts were Mr. Chris Wullf-Caesar, Managing Director of Unilever Ghana Plc; Professor Charls Adjasi, Professor in Development Finance at Stellenbosch Business School; Ms. Brenda Semevo Afari, Legal Counsel and Corporate Governance Consultant; and Dr. Ralph Nordjo, Director of the Africa Directorate at the Copenhagen Consensus Centre. ...
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Economist commends government for scrapping fuel allowances for political appointees 
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Economist commends government for scrapping fuel allowances for political appointees 

Dr Worlanyo Mensah, an Economist, has commended the Government for its recent decision to scrap fuel allowances for political appointees.   President John Dramani Mahama, in a statement issued by Mr Felix Kwakye Ofosu, presidential spokesman and Minister in-charge of Government Communications, has, with immediate effect, directed the cancellation of payment of fuel allowances and allocation of fuel to all his political appointees.   The statement indicated that the directive formed part of a broader curb in the government’s expenditure aimed at cutting costs and channelling public funds into priority areas.  Dr Mensah described the move as a positive step toward reducing the financial burden on the state and promoting accountability in the use of public resources.  ...
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NEDCo recovers GHC1.6 million outstanding bills from customers
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NEDCo recovers GHC1.6 million outstanding bills from customers

The Sunyani Area office of Northern Electricity Distribution Company (NEDCo), has recovered GHC 1.6 million outstanding debts from some customers, Mr Eugene Odoi Addo, the Area Manager said on Tuesday.He said the outstanding electricity bills were collected on the first day of a two-week revenue mobilization and loss control exercise being undertaken by the company.In an interview with the media in Sunyani, Mr Addo explained that the exercise targeted to collect GHC20 million outstanding bills from customers within the Sunyani area who owed about GHC318 million.Mr Addo said: “The amount includes government institutions, non-governmental agencies, and postpaid customers,” adding that “we have structured payment agreements with many of the clients, allowing us to retrieve the funds without c...
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Stanbic Toastmasters Club Presidents Honoured in Côte d’Ivoire  
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Stanbic Toastmasters Club Presidents Honoured in Côte d’Ivoire  

Three Toastmasters Club Presidents from Stanbic Bank Ghana have earned recognition at the 2025 District 94 Toastmasters Conference held in Côte d’Ivoire for achieving the highest possible distinction in club performance.   Jessica Boakyewaa Howard, President of Stanbic Kumasi L&D Toastmasters Club; Martina Boateng, President of Stanbic Spintex L&D Toastmasters Club; and Akua Ofori - Koranteng, President of Stanbic Heights L&D Toastmasters Club, were each honoured with the “President’s Distinguished Club” award.    The trio led their respective clubs to achieve a perfect score of 10 out of 10 in the Distinguished Club Programme.   To celebrate this milestone, the three presidents, accompanied by leadership from Toastmasters Ghana, paid a courtesy call on ...
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Asuogyaman prepares for Volta Lake development role
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Asuogyaman prepares for Volta Lake development role

The Asuogyaman District is preparing to play a central role in the government’s proposed Volta Economic Corridor initiative, focusing on irrigation, tourism, investment, and environmental preservation. District authorities, in collaboration with chiefs and residents, will work with stakeholders to harness Volta Lake for irrigation and tourism under a private sector-led model. Mr. Godwin Bobobee, District Chief Executive of Asuogyaman, told the Ghana News Agency that the Assembly would, in alignment with President Dramani Mahama’s vision, assist private sector actors by streamlining regulatory procedures where needed, while maintaining the integrity of existing systems. The corridor project, part of the 24-Hour Economy initiative, aims to transform the Volta Lake region into an eco...
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