Economics

Two NDC MPs ask Supreme Court to define "total revenue of Ghana"

Benjamin Kpodo

Two NDC MPs have proceeded to the Supreme Court, suspecting the Finance Minister, Ken Ofori-Atta, is manipulating funds set aside for district assemblies.

The MPs; Benjamin Kpodo of Ho Central and Richard Quashigah of Keta, say the District Assemblies are by law entitled to 5% of total government revenue.


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Corruption Trial Not For Political Gains – Akufo-Addo

President Akufo Addo

President Nana Addo Dankwa Akufo-Addo has stated that trial of state officials suspected to have been involved in corrupt activities is not politically motivated.

The president’s comment comes after a former board chairman of the National Communication Authority (NCA) under the Mahama administration Eugene Baffoe-Bonnie and four others were arraigned in an Accra Commercial High Court last week for wilfully causing financial loss to the State.

The five have also been slapped with 16 other charges.


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Galamsey Fight Entering A New Phase – Akufo-Addo

President Akufo Addo

President Akufo Addo has charged the ten (10) member inter-ministerial committee on Environment and Natural Resources to effectively participate in the fight against illegal mining.

He made this call Thursday December 28 at a ceremony to commission the secretariat for the Inter-ministerial committee on illegal mining.


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US govt pleased with ECG ‘privatization’ processes so far – Ambassador

US Ambassador to Ghana, Robert Jackson

The US Government has told Citi Business News everything is on track for the private sector participation in the Electricity Company of Ghana (ECG) under the Power Compact II agreement.

Currently, the six shortlisted companies are evaluating the assets of the ECG to guide further decision making on the move. Ghana is in an agreement with the Millennium Challenge Corporation (MCC) of the USA for a funding support of about 500 million dollars to turnaround the fortunes of the power distribution company.


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US commits to doubling trade volumes with Ghana

US Ambassador to Ghana, Robert Jackson with Finance Minister, Ken Ofori Atta

The American government says it is committed to double its trade volumes with Ghana via continuous investments to add value to Ghana’s exports.

The US Ambassador to Ghana, Robert Jackson explains that this should increase Ghana’s trade volume with the US from the current 1.2 billion dollars to 2.4 billion dollars.

Mr. Jackson made the remarks at a ceremony to commemorate USA’s 241st Independence Celebration in Accra on Thursday, June 29th, 2017.


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President Akufo-Addo leaves for 3-day official visit to Zambia

President Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo, left Ghana, on Monday, 26th June, 2017, for a 3-day official, State Visit to the Republic of Zambia, at the invitation of its President, His Excellency Edgar Chagwa Lungu.

President Akufo-Addo will hold bilateral talks with President Edgar Lungu, aimed at deepening the bilateral ties between the two countries, as well as exploring other areas of co-operation to the mutual benefit of the two peoples.


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Accra mayor rallies support for ‘cleanest city’ agenda

Mr Mohammed Adjei Sowah

Accra Metropolitan Assembly (AMA), Chief Executive Mohammed Adjei Sowah has rallied assembly members and other stakeholders to support the agenda of the assembly to make the President’s declaration of making Accra the cleanest city in Africa a reality.

He said achieving that mission required a huge change in policy, action plans, enforcement mechanisms and attitudes.

He made the call in his first sessional address to the assembly in Accra last Thursday.


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Ghana-cocoa-output-boosted-smuggling-Ivory-Coast-exporters

Cocoa

ACCRA/ABIDJAN, June 26 (Reuters) - Up to 80,000 tonnes of cocoa beans have been smuggled into Ghana from neighbouring Ivory Coast since the start of April, as Ivorian growers take advantage of higher prices in the neighbouring country, exporters said on Monday.

Further trafficking is expected to inflate Ghanaian output from its 11-week light cocoa crop, which opened on June 9.


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South Africa's Sanlam sells stake in Ghana's Enterprise insurance business

South Africa's largest insurer Sanlam Ltd has sold its stake in Ghanaian holding company Enterprise Group's insurance business for $130 million but will retain a presence in the country, Sanlam said on Friday.

Sanlam Emerging Markets (SEM), a subsidiary of the Sanlam Group, acquired the 40 percent stake in Enterprise Insurance in 2014.


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Brexit talks 'will not consume EU', Angela Merkel warns Britain

Theresa May at the EU summit in Brussels. Photograph: Leon Neal/Getty Images

EU leaders dismiss Theresa May’s offer on citizens’ rights as inadequate while summit seeks to focus on terrorism and defence

The German chancellor, Angela Merkel, has warned Theresa May that the EU will not allow itself to be consumed by the Brexit negotiations, as the British prime minister’s offer on citizens’ rights was dismissed by Europe’s leaders as vague and inadequate.


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