Category: Business

Dr. Godfred Seidu Jasaw, the deputy ranking member of the parliamentary committee on food, agriculture, and cocoa affairs, has urged banks and financial institutions in several African nations to set aside money to boost food production and finance on the continent. Dr. Jasaw emphasized that efforts to ensure that African farmers can feed future generations in the face of climate change and improved food security will be thwarted by the absence of investment in the industry. Without additional investment, he said, food shortages, starvation, and migration will reverse decades of…

How illicit small-scale mining, sometimes known as galamsey, continues to devastate the country’s environment and fauna is abhorrent. Every day that goes by, experts worldwide foresee a bleak future for the nation as this horrible crime festers. Galamsey is becoming more powerful every day in the face of overwhelming evidence of the direction the nation is taking. Many people think the people behind galamsey are too strong and may be exempt from the regulations that regulate the sector. If so, the consummate businessman Sir Sam Jonah feels perplexed as to…

As of Friday, September 1, the price of a kilogram of pork meat has been adjusted to Gh30. GH 26 was the initial cost per kilogram. The modification is required due to the high cost of production, according to Augustine Naah, the Ashanti Regional Organiser of the Pig Famers and Producers Association. He claimed that “soya beans, maize, drugs, transport, and labor costs among others have all gone up” in an interview with Antwi Boasiako of Akoma FM. Mr. Naah added that to stay in business, it has become prudent…

Phase Two of the government’s main agriculture program, “Planting for Food and Jobs,” was introduced by President Nana Addo Dankwa Akufo-Addo on August 28, 2023, at the University for Development Studies in Tamale. The second phase of the program is a five-year master plan for the transformation of agriculture in Ghana with a focus on modernization through the development of a chosen commodity value chain and active private sector engagement. Its goal is to build on the successes of the previous program. The second phase, by design, “takes a holistic…

The Bank of Ghana (BoG) claims that it did not violate the procurement laws concerning the new headquarters building, but according to Ashaiman’s member of parliament, Ernest Norgbey, this is untrue. The member charged Governor Dr. Ernest Addison to reconsider and take into consideration the option presented to him by the minority and resign since the documents he has intercepted do not match the procurement standards in the public procurement legislation. The development of the new headquarters facility did not violate any procurement laws, according to Dr. Addison’s Monday statement.…

Osei Kyei-Mensah-Bonsu, the leader of the majority party, stated that either the minority party in parliament is exaggerating the problems with the Bank of Ghana (BoG) or that they lack the time to thoroughly investigate the central bank’s facts. The Minority in Parliament charged that the Bank’s printing of substantial sums of money to pay the government in 2021 and 2022 lacked a plausible justification. They claim that the BoG’s behavior is a clear violation of the relevant statute. They point out that the printed amounts—GHS 35 billion in 2021…

Franklin Cudjoe, a governance specialist and the president of IMANI Ghana, has urged Bank of Ghana officials to reimburse them for the GHC60.8 billion loss they incurred in 2022. The central bank is prohibited by law from making expenditures that exceed 5% of its entire revenue from the previous fiscal year, but the executives of the Bank chose to disobey the law, claims the President of IMANI Ghana. Therefore, the lost sum should be added to their bill. On August 8th, 2023, Mr. Cudjoe said that responsibility includes paying back…