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IMF to release $ 100m to Ghana

The International Monetary Fund (IMF) is expected to disburse the 5th tranche of the Extended Credit Facility (ECF) to Ghana within the coming weeks. It follows the fifth review of Ghana’s performance under the program, last week. Citi Business News understands the Fund has not been very satisfied with government’s …

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New agency inaugurated to boost revenue collection in oil and gas sector

Finance Minister Mr Ken Ofori-Atta has inaugurated the Multi-Agency Petroleum Revenue Committee (MAPREC) to coordinate the efforts of state institutions in the oil and gas sector in order to improve petroleum revenue collection. The Committee, with membership from the Ministry of Finance, the Ghana Revenue Authority, Petroleum Commission, Ghana National …

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Could Reforming SOEs Be A Big Deal For Ghana?

At the beginning of September, Ghana’s Ministry of Finance brought the heads of State-owned Enterprises (SOEs) to deliberate how to reform SOEs, some of them loss-making, in order to have them play a more strategic role in Ghana’s development. As reported in the local press, the Vice President of Ghana, …

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IMF Warns Gov’t Over High Expenditure Projects

The International Monetary Fund (IMF) has expressed worry over the high expenditure programs being pursued by the government. According to the fund, even though the Akufo-Addo government promised to save money, the nature of the projects it is embarking on makes it difficult to leave up to the promise. The …

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Ghana Drops In WB Ease Of Doing Business Report

Ghana has dropped 12 places downwards in the latest World Bank Ease of Doing Business report. This means Ghana has dropped from 108th position it recorded last year to 120th position. The 15th edition of the study was carried out between June 2016 and June 2017. It measured 11 critical …

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Reduce Corporate Tax – Bank MD

The survival of operations of rural banks in the country continues to be threatened by the 25% corporate tax which came into effect last year by the Ghana Revenue Authority. Players in the rural banking industry are therefore asking government to consider reducing the current rate, since it will affect …

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Appeals Court Throws Out IFC In Case Against Quantum Oil

The court of Appeal has dismissed an application for stay of proceedings by the International Finance Corporation (IFC) seeking to halt an ongoing case with Quantum Oil Terminals Limited at the High Court over damages caused as a result of a breach of an agreement. The court made up of …

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Ignore Cheap Propaganda On Cocoa Price – Chief Farmer

The 2016 National Best Cocoa Farmer, Nana Opoku Gyamfi, has advised his colleague farmers not to be moved by cheap propaganda being peddled around by some disgruntled members of the society on the recent cocoa producer price announced by government. According to the Sankore-based cocoa farmer, he had monitored how …

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Under 40 CEOs Forum – Ghana Slated For Nov.16

fter a successful 24 months on television across West and South Africa and a successful launch on GHOne TV in Ghana with the series Under 40 CEOs, there has been increased demand from emerging and aspiring young business leaders for offline engagements and the opportunity to have these ones interact …

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Cocoa Farmers Must Earn More From Their Toil – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has reiterated the commitment of his government towards ensuring that the country’s farmers reap much greater value from their toil. According to President Akufo-Addo, startling statistics have revealed that, with Ghana and Cote d’Ivoire accounting for more than 60% of the world’s cocoa output, the …

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