Fitch ratings… Economy fastest growing – Prez Akufo-Addo

Fitch ratings… Economy fastest growing – Prez Akufo-Addo

Fitch Rating agency has projected Ghana to be the fastest growing economy in Sub Saharan Africa as it emerges strongly from the COVID-19 pandemic, President Nana Addo Dankwa Akufo-Addo has noted. The agency also projects that the economy will be restored to its previous position before the onset of the pandemic. Last year, in the midst of global recession, Ghana’s economy and a few others in the world recorded positive growth in Gross Domestic Product (GDP). This buttressed the findings of the Ghana Statistical Services that the first quarter of…

GH¢7.62bn for Free SHS in 5 years — Finance Minister

GH¢7.62bn for Free SHS in 5 years — Finance Minister

The government allocated a total amount of GH¢7.62 billion for the implementation of the Free Senior High School (SHS) programme during the past five years, the Minister of Finance, Mr Ken Ofori-Atta, has told Parliament. He said GH¢4.18 billion out of the amount representing 54.76 per cent, was sourced from the government of Ghana (GoG), while the remaining GH¢3.44 billion, representing 45.24 per cent, came from Annual Budget Funding Amount (ABFA). “Mr Speaker, the government has taken no loan to specifically finance the free SHS policy which has since its…

Groupe Nduom wins GHC174m judgment debt against Health Network

Groupe Nduom wins GHC174m judgment debt against Health Network

One of the Groupe Nduom companies, Gold Securities Company Ltd now BlackShield and Ghana Growth Fund Company Limited, members of Groupe Nduom, an indigenous Ghanaian business conglomerate, have won a massive GHS174 million judgment against Health Network Company Limited. The ruling was given by the Commercial Division of an Accra High Court on Thursday, July 15th, 2021. The ruling, according to Groupe Nduom owners and other stakeholders, “proves regulators acted hastily in revoking licenses of the Groupe’s banking and investment companies”. The Groupe Nduom companies that have suffered regulator closure…

Fuel prices may remain stable in the second pricing window of July – IES

Fuel prices may remain stable in the second pricing window of July – IES

The Price of fuel on the local market will remain stable in the second pricing window of July the Institute of Energy Security (IES) is projecting. The IES noted that within the first pricing-window of July 2021, the majority of the Oil Marketing Companies (OMCs) maintained their prices of petroleum products at the pump and the national average price of fuel per litre at the pump is still pegged at GHS5.97 for both Gasoline and Gasoil.    “For this pricing-window, Zen Petroleum, Benab Oil, Cash Oil, Goodness Oil, Top Oil…

KNUST responds to students’ march against high hostel fees

KNUST responds to students’ march against high hostel fees

Management of the Kwame Nkrumah University of Science and Technology (KNUST) has assured students that the hostels whose owners recently hiked rental fees have been identified and are being talked to for a possible reduction. Students on Friday, July 16 staged a peaceful protest to press home demands for the hostels to reduce their rents. According to the students, some of the hostel owners have increased their fees by as high as 90 percent. But a statement issued by management of the Kumasi-based university on Friday said those hostels are not part…

‘It is simply not right’ – TUC on salaries for presidential spouses

‘It is simply not right’ – TUC on salaries for presidential spouses

The Ghana Trades Union Congress (TUC) has weighed into the conversation of the recommendation by the Professor Yaa Ntiamoa-Baidu committee for spouses of presidents and vice presidents to be given monthly salaries. The recommendation came after the committee was tasked in 2019 by President Nana Addo Dankwa Akufo-Addo to review emoluments of Article 71 office holders. It has since submitted its report, which has been consequently approved fro implementation by Parliament. But since the disclosure of this was made by Information Minister Kojo Oppong Nkrumah in an interview, many, particularly the opposition National…

$28 million loan to help MPs buy vehicles laid before parliament

 million loan to help MPs buy vehicles laid before parliament

The Minister for Finance, Mr. Ken Ofori-Atta, has tabled before a parliament a loan agreement that would allow the 275 MPs purchase vehicles. The amount involved is $28 million. The loan from what this website has gathered would be sourced from the National Investment Bank, NIB. If approved, a member of parliament would receive over $100,000 for the purchase of a vehicle. The Finance Committee of the House is expected to consider the loan agreement and report to the house. The House has also approved $200 million additional funds from the…

Fuel prices to increase marginally – IES

Fuel prices to increase marginally – IES

The Institute of Energy Security (IES) has said prices of fuel will appreciate marginally at the pumps. A statement issued by IES indicated that the price of fuel on the local market increased within the window under review. Within the first pricing window of June 2021, majority of the oil marketing companies (OMCs) increased their prices of petroleum products by 3% at the pump. Based on this increase, the current national average price of fuel per litre at the pump is pegged at GHS5.97 for both gasoline and gasoil. For…

Gold sees biggest monthly drop since 2016

Gold sees biggest monthly drop since 2016

Gold headed for the biggest monthly drop in more than four years after the Federal Reserve sped up their expected pace of policy tightening, sending prices tumbling below $1,800 an ounce. The rise in U.S. stocks to a fresh record and a resurgent dollar have also weighed on the precious metal. Investors are also assessing new travel restrictions in Europe amid concerns about the coronavirus delta variant, which helped spur a re-think of the reflation trade. Bullion is stabilizing as traders now focus on the timing of when policymakers may…

Government to implement US$200million Jobs and Skills Programme

Government to implement US0million Jobs and Skills Programme

Government is fast tracking the implementation of the US$200million Jobs and Skills Programme to enhance job creation significantly. The intervention is designed to facilitate new and expanded private sector businesses to employ many more people. Mr Ken Ofori Atta, the Minister of Finance at the Minister’s Press Briefing, said, “this we believe is a more sustainable way to rebuild this economy instead of expanding Government employment schemes.” He said government was rolling over eight additional interventions, starting this May, 2021 under the Ghana CARES “Obataanpa” programme. These interventions are in…