Author Archives: Businessghana

$2.5bn energy bond to create liquidity—Zenith Bank CEO


Some banks in the country are hopeful the financial sector will soon have enough funds to propel the private sector towards growth. The expectation is anchored on the 2.5 billion dollar energy sector bond which will soon be issued by government to release power producing and distribution companies from distress. Speaking to Citi Business News at the sidelines of Ghana ...

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New 1st Deputy Governor to shape monetary policy – Prof. Bokpin


Ghana should be on the path of achieving a strong monetary policy regime which is also in line with internationally accepted practices. That is the assertion of Economist, Professor Godfred Bokpin following the appointment of Mr. Maxwell Opoku-Afari as the First Deputy Governor of the Bank of Ghana. According to him, Mr. Opoku Afari’s international exposure and experience, should culminate ...

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Gov’t sector cannot employ anymore – Osafo-Maafo


The Senior Minister Yaw Osafo-Maafo has warned the country may be heading for trouble if the private sector growth is not supported to help curb the level of unemployment. Accord Mr Osafo-Maafo the country has high level of youth unemployment which must be reduced with the private sector being supported to expand. Speaking at the opening of the 2017 Ghana ...

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ABB, VRA partner to build expertise for power sector


ABB, a pioneering leader in electrification products, robotics and motion as well as industrial automation and power grids, has entered a two-year capacity building partnership with the Volta River Authority (VRA). The deal will see former offering power and automation training and allied technical assistance to engineers, trainers and trainees at the VRA Academy over the contract period. It will ...

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Bawumia’s Advisor discounts Minority’s grave prediction about debt stock

Bawumia's Advisor

The Technical Economic Advisor to Vice President, Dr Mahamudu Bawumia, has dispelled suggestions that the rate of borrowing under the current administration could plunge the economy into an irreparable national debt situation. Dr Gideon Boako says the Minority’s argument that the rate of borrowing under the current administration points to at least an excess of GH¢140 billion in added national ...

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BoG rate cut will spur lending and growth


The reduction in Bank of Ghana’s (BoG) benchmark interest rate (policy rate) from 22.5 per cent to 21 per cent signals a gradual improvement in the economy that will boost lending by commercial banks, according to ratings agency, Moody’s. A statement by Moody’s Investor Service said the latest monetary policy rate reduction would reduce banks’ lending rates and asset risks, ...

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