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Author Archives: Nana Ama Agyemang Asante

Northern Ghana Investment Forum underway

A four day event dubbed the Northern Ghana Investment Conference is underway in the Northern Regional capital Tamale. As the third edition, the theme is, “Projecting the resource potentials of Northern Ghana for accelerated development: the role of Public-Private Partnership.” The annual conference serves as a catalyst of promoting businesses and investment potentials in Northern Ghana. The four-day event brought ...

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Petroleum Commission reviews $6Bn plan for oil fields

The Petroleum Commission is currently reviewing the off-shore Cape thre- points plan of development, for oil firm ENI to start the development of the Sankofa Gye Nyame oil fields. This comes after President John Mahama said the government would, by the end of August, sign a new deal with ENI concerning the Sankofa field, to explore more than a trillion ...

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Ghana’s capital market needs to penetrate regional markets – Mona Quartey

The Deputy Minister of Finance and Economic Planning, Madam Moona Quartey has called for the integration of Ghana’s capital market into regional markets such as Nigeria as well as in Francophone markets. She said the development of such interrelated markets would not only contribute to regional financial stability but also strengthen related companies in the economy. Madam Quartey was speaking ...

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Gov’t targets $5 billion export revenue by 2017

The Minister for Trade and Industry, Mr Haruna Idrissu, says there is the need to diversify Ghana’s export in order to improve the country’s trade deficit, which he says, currently stands at $20 billion. Mr Idrissu said even though Ghana’s export is encouraging, it only holds promise into the future. He said this Tuesday when he addressed a gathering of ...

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Wampah demands Terkper action to ease economic hardships

Henry Kofi Wampah, Governor of the Bank of Ghana (BoG), has called for stronger action from the Ministry of Finance and government to alleviate the country’s economic difficulties. “Fiscal consolidation will require a more aggressive stance in the second half of 2014. Government must continue to enhance revenue measures and rationalise expenditures to achieve the fiscal deficit target of 8.5 ...

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Inflation rate for June hits 15 percent

Inflation rate for the month of June 2014 is 15.0 percent, up by 0.2 percent from the 14.8 percent recorded in May. The rate of inflation for June is the percentage change in the Consumer Price Index (CPI). The year-on-year non-food inflation rate for June 2014 was 20.3 percent compared to the 20 percent recorded for May 2014. The year-on-year ...

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Govt challenges Moody’s downgrade

Moody’s Investors Service has downgraded Ghana’s sovereign rating to B2 from B1, citing the country’s rising debt burden and deteriorating debt affordability. In its report, Moody’s stated that the primary driver of its decision to downgrade Ghana’s sovereign rating to B2 was the country’s high and rising debt burden and deteriorating debt affordability. The report indicated that the rating agency ...

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Moody’s cuts Ghana’s sovereign rating

Moody’s Investors Service has downgraded Ghana’s sovereign rating to B2 from B1, citing the country’s rising debt burden and deteriorating debt affordability. The key drivers of today’s rating action are the following: 1) Ghana’s deteriorating fiscal strength, as reflected in the rising debt level and worsening debt affordability amid persistently high fiscal deficits. 2) The increase in Ghana’s vulnerability to shocks ...

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Citi MDM ends with breakfast for managers under 40

The Citi FM Management Development Month (#MDM2014) ends today Friday June 27, with a breakfast meeting for managers under age 40. Speaking on the theme will be Chief Executive Officer of UT Bank, Martyn Mensah. This will be the last of the series which was made up of of both on-air and off-air events. Listeners have had the opportunity to listen to experienced ...

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Suspend services on Accra-Tema railway line – Chief Engineer

The Chief Engineer of the Ghana Railway Company Limited (GRCL), Mr William Ackun, has called for the immediate suspension of train services on the Accra-Tema railway line until maintenance work is carried out. The call, he said, had become necessary because the company could not guarantee the safety of trains and passengers who used the track. The letter Mr Ackun, ...

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