Economy

Over 350 proposals received for 1 district, 1 factory initiative

Proposals

Minister for Trade and Industry, Alan Kyeremateng, has disclosed that government has received over 350 business proposals from investors, so far, who want to be part of the 1 district, 1 factory initiative. “It started very well,” the minister told the B&FT in an interview. “Right now, we have over 350 business promoters that have already submitted their proposals to ...

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Gov’t delegation meets London Stock Exchange

London Stock Exchange

As part of activities to strengthen the ties between Britain and Ghanaian businesses, a delegation of government officials through the UK-Ghana Chamber of Commerce (UKGCC) called on the CEO of the London Stock Exchange (LSE) to deliberate on business issues that seek to benefit Ghana and its citizens. Led by the Senior Minister, Hon. Yaw Osafo-Marfo, the delegation included the ...

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World Bank to support women entrepreneurship with over $1 billion

Sub-Saharan Africa

The World Bank Group, as part of the G20 leaders’ summit, have announced the creation of an innovative new facility that aims to enable more than $1 billion to advance women’s entrepreneurship. This facility will also help women in developing countries gain increased access to the finance, markets, and networks necessary to start and grow a business, the Bank said. ...

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Minority calls for MOU on $19 billion in Parliament

Parliament of Ghana

The Minority caucus in Parliament has challenged Vice President, Dr Mahamudu Bawumia and the New Patriotic Party to make available to Parliament details of the $19 billion MOU between Ghana and China. According to them, the recent Supreme Court ruling on the two Guantanamo Bay inmates makes it imperative for the government to bring the $19 billion MOU with the ...

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Chinese investment in economy not a loan – Veep explains conditions

Bawumia

Vice-President Alhaji Dr Mahamudu Bawumia has stated that the Chinese investment in the Ghanaian economy is not a loan, aid or hand-out. “We sought to leverage less than five per cent of our bauxite deposits to unlock close to $20 billion,” he told participants attending a two-day conference on the theme: “Building resilient industries and infrastructure for economic transformation in ...

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T-bill rates hit 5-year low

2018 Budget

Rates on short-dated government securities have taken their free fall to another level, hitting a five-year low on June 23, this year. Buoyed by the current stable inflation and foreign exchange rate regime, rates on the benchmark 91-day treasury bill (T-bill) dropped from 25.19 per cent on July 13, 2015, to 22.79 per cent in January, last year, before narrowing ...

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USAID study examines Impact of Trade-Related Fees and Charges in Ghana

The US Ambassador to Ghana Robert P. Jackson has launched “The Cost of Trading in Ghana,” a new study on the impact of trade-related fees and charges. United States Agency for International Development (USAID) conducted the study on behalf of the National Trade Facilitation Committee, according to a press release from the US Embassy in Ghana. The study was launched ...

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3% VAT flat rate to start tomorrow

Government is set to go ahead with the implementation of the 3% VAT flat Rate from this Saturday, despite intensified appeals by Business Associations for the policy to be scrapped. The 3% VAT flat rate will see manufacturers and wholesalers charge the tax component on their wares and subsequently account for the tax payment. But the businesses argue that the ...

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2017 first quarter GDP rises to 6.6%

Ghana’s Gross Domestic Product (GDP) for the first quarter of 2017, grew by 6.6 percent. This compares with the 4.4 percent recorded in the same period of last year. For the first quarter of this year, Ghana’s GDP at constant prices including oil was 8, 557.8 million cedis compared with the 8,028.4 million cedis recorded in the same period of ...

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Ghana secures $15 billion Chinese funding for transformation agenda

China has pledged some $15 billion dollars to fund Ghana’s government’s massive economic transformation agenda, with the likelihood that a further four billion dollars would be committed for various development projects across the country. The commitment by the Chinese is based on a financing module presented by the government of Ghana, seeking for partnerships to fund its development agenda, leveraging ...

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