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Business and Finance

Ghana: Finance Minister to present Mid-year budget review today

The Finance Minister, Ken Ofori Atta will today present government’s midyear budget review and economic planning to Parliament. The Majority Leader, Mr Osei Kyei-Mensah-Bonsu, disclosed this on Friday when he presented the business statement for the week ending 4th July 2017. This is in fulfilment of the constitutional mandate requiring ...

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Ghana: Revenue from voter ID replacement safe – Charlotte Osei

The Electoral Commission (EC) of Ghana accrued an amount of Ghc 2.5 million from replacement of voter IDs for Ghanaians ahead of the 2016 December elections. The Chairperson of the Electoral Commission, Charlotte Osei revealed this in parliament yesterday, in a response to an urgent question filed in the name ...

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Ghana: Cabinet approves Fiscal Responsibility Law to cap fiscal deficit to 3-5% of GDP

Days after the Vice President, Dr Mahamudu Bawumia, hinted of Government’s desire to place a cap on Ghana’s fiscal deficit as a percentage of Gross Domestic Product (GDP), Cabinet has given its approval for the submission of the appropriate legislation to Parliament to amend the relevant law. The proposed amendment ...

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Cabinet approves implementation of Cash Waterfall Mechanism

Ghana’s Cabinet has approved the implementation of a new revenue distribution system for the power sector. This is to address the adverse effects on their businesses arising from the inability of the Electricity Company of Ghana to collect payment for power supplied and pay their suppliers for services rendered. According ...

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Ghana: Cabinet Approves Establishment of Electricity Market Oversight Panel

Ghana’s electricity sub-sector will soon have an oversight body regulating its activities, as envisaged in a Legislative Instrument passed by Parliament in 2008. At a Cabinet meeting on Thursday July 21, 2017, the Minister of Energy was tasked to constitute the Panel and see to its inauguration, to enable the ...

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Ghana: PWDs to get 30% GoG contracts – Adwoa Safo reveals

Story by: Stephen Odoi-Larbi The Minister of State in charge of Public Procurement, Hon. Sarah Adwoa Safo, has said that as part of efforts at strengthening the capacities of local contractors, the government has made a policy where 70% of all its contracts or projects shall be awarded to local ...

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Sitting allowances for Kenya’s lawmakers abolished

Members of the Kenyan Parliament who will be elected to the 12th Parliament will not benefit from the Sh5,000 allowance their predecessors enjoyed for sittings. This is after the Salaries and Remuneration Commission (SRC) scrapped it after members of the public raised concerns that their representatives were misusing it. SRC ...

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Ethiopia: Parliament approves 17% increase in next year Budget

The Ethiopian Parliament has approved a 320.8 billion Br budget for the coming fiscal year. The amount which was approved after a meeting is 17pc higher than the previous fiscal year. Out of the total budget, 114.7 billion Br will be used for capital expenditure, 81.8 billion Br for recurrent ...

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Ethiopia: Parliament passes $13bn budget after World Bank, IMF praise

The Ethiopian parliament has unanimously passed a 320.8 billion birr ($13.9 billion) budget for the financial year of 2017/18, the amount represents an increase of nearly 17 percent on the previous year, the ministry of finance said. The budget which was passes on Friday  sets aside 114.7 billion birr for ...

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