Economics

US Embassy in Ghana 'begging' to pay power bills of 2 years

US Ambassador to Ghana

The United States Embassy in Accra is literally begging the national power supply company to sit with them so that they will settle unpaid bills of 2 years.

The Embassy took to their twitter handle to explain circumstances surrounding its alleged indebtedness to the Electricity Company of Ghana (ECG).

Ghana’s sector minister had made comments to the effect that the Embassy owed the ECG, ‘‘The U.S. Embassy in Ghana has not refused to pay any electricity bills. We have been asking for official bills,’‘ one of the tweets read.


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China describes Ghana as an important development partner

Sun Baohung, Chinese Ambassador to Ghana

Sun Baohung, Chinese Ambassador to Ghana

Photo: Chinese-Ambassador-to-Ghana-Sun-Baohong.jpg
Photo: Chinese-Ambassador-to-Ghana-Sun-Baohong.jpg

Accra, May 17, GNA - Ghana has been described as an important development partner of China on the African continent.
“Since the establishment of diplomatic relations between Ghana and China 57 years ago, the two countries have enjoyed fruitful cooperation in the economic and trade fields, bringing tangible benefits to people of the two countries.”

Sun Baohung, Chinese Ambassador to Ghana, said this at the opening ceremony of the China Trade week in Accra on Wednesday.


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Tullow to drill more oil wells after Ghana-Ivory Coast maritime dispute

Tullow drill ship

Tullow Oil says plans are underway to resume drilling next year to boost output at its Tweneboa, Enyenra, Ntomme (TEN) field once the maritime dispute between Ghana and The Cote d’Ivoire is resolved.

Mr Charles Darku, the Tullow Ghana Managing Director, told shareholders on Wednesday that the drilling of the new wells would help increase production to 80,000 barrels a day from the current expected level of 50,000 barrels for 2017.


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Ghana to export power by 2020 – Energy Minister

Energy Minister, Boakye Agyarko

Ghana may export power to neighbouring countries by 2020 if current reforms in the energy sector are completed, Energy Minister, Boakye Agyarko has said.

The Minister said the country could be generating in excess energy capacity of 1,700 megawatts because of the many power plants being installed.

Speaking on the final day of the National Policy Summit 2017 at the Accra International Conference Centre Tuesday, the Minister said the excess power will be exported for the money to be invested in other sectors of the economy.


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National digital address system will be ready by July – Bawumia

Vice President, Dr. Mahamudu Bawumia

The Vice President, Dr. Mahamudu Bawumia, has indicated that the national digital address system will be rolled out by July 2017.

In his announcement at the National Policy Summit on Monday, Dr. Bawumia stressed that the role of an address system in Ghana was mostly underestimated, but had the potential to be a key component for the growth of the economy


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Alan Kyerematen: We’ll establish ten industrial parks across Ghana

Trade and Industry Minister, Alan Kyerematen

Government has revealed plans to anchor industrialization in the country on the establishment of ten new industrial parks.

According to Minister for Trade and Industry, Alan Kyerematen, each of the ten regions would have one park with the requisite facilities and flexible land schemes to facilitate the setting up of industries.

This initiative which draws heavily on similar models from Asia, is expected to create thousands of jobs for Ghanaians.


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‘We remain Ghana’s largest development partner’ – EU Ambassador

EU Ambassador, William Hanna

The European Union has said it remains committed to the economic development of Ghana.

EU Ambassador to Ghana, William Hanna said the Union will continue its development cooperation with the new government focusing on sustainable development.

At the Europe Day reception in Accra last Tuesday, Mr Hanna said the EU’s bilateral and development programmes will be coordinated to promote prosperity among Ghanaians.

“This year, more and more, we are hearing the phrase ‘Ghana beyond Aid’ [and] I am encouraged by this concept,” he said.


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‘We won’t build Ghana for foreigners’ – Ken Ofori Atta

Finance Minister, Ken Ofori Atta

Government will take measures to protect local businesses from foreign competitors, the Finance Minister, Ken Ofori Atta has said.

In response to concerns raised by the President of the Association of Ghana Industries , James Asare Adjei on competition from foreign investors at the maiden National Policy Summit, the Minister said there should be no apologies over government’s desire to see local companies flourish at the expense of foreign ones.


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Nigerian businesses want waivers for investments to Ghana

The Flag of Nigeria

The Nigerian business community in Ghana wants government to honor its promise to grant waivers to foreign investors in the country.

According to them, the waivers will help them establish new businesses in the country as well as expand already existing ones.

The businesses further believe the move will fall in line with government’s plan of creating a business friendly environment.


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Inflation rate for April inches up to 13 per cent

Acting Government Statistician, Baah Wadieh

Accra, May 10, GNA - The year-on-year inflation rate went up slightly in April to 13.0 per cent, up by 0.2 percentage points, compared with the 12.8 per cent recorded in March.

The Acting Government Statistician, Mr Baah Wadieh told a press conference on Wednesday that the monthly change rate in April 2017 was 1.6 per cent, while that for March 2017 stood at 1.3 per cent.

The year-on-year non-food inflation rate recorded for April was 16.3 per cent compared with the 15.6 per cent recorded in March 2017.


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