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Business and Finance

Ghana: COCOBOD secures US$1.3 billion for 2017/18 crop season

The Ghana Cocoa Board (Cocobod) has secured an amount of US$1.3 billion for the purchase of cocoa beans for the 2017/18 crop season. The follow the approval of a syndicated loan by Parliament on Wednesday before adjourning sine die. The facility is being provided by a syndicate of banks, comprising ...

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Ghana: Parliament approves US$534.77m budget for GNPC …as it okay’s 2017 work prog.

Parliament has approved an amount of US$534.77million for the 2017 programme of activities of Ghana National Petroleum Corporation (GNPC). Out of the amount US$ 83.44 million, US$ 139.12 million, US$ 80.19 million, and US$ 4.20 million has been earmarked for the Jubilee field development and production, Tweneboa-Enyenra-Ntomme (TEN) development, Sankofa ...

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Ghana: Gov’ts policies are yielding results- Ken Ofori Atta

The Finance Minister, Ken Ofori Atta has revealed that government’s prudent economic policies and programmes are yielding the expected results, to position the economy back on track . According to him macro-indicators for the first half of the year are pointing in the right direction as GDP for first quarter ...

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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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