Economics

Ghana to borrow $1.3bn for 2017/2018 cocoa purchases

Cocoa Farmers breaking cocoa bods

Government has defended its decision to reduce the syndicated loan for cocoa beans purchases for the 2017/2018 crop season, by about 28 percent.

The country will be seeking 1.3 billion dollars from its lenders for cocoa purchases for the next crop season which starts in October 2017.

This amount is lower compared to the 1.8 billion dollars the country secured last year.

Deputy Agric Minister, William Kwaitoo explains to Citi Business News the move is to avert high losses associated with the declining global prices of cocoa.


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Explosion at Takoradi leaves more than 100 injured (video & photos)

A fire tender arriving at the scene of the explosion

A total of about 100 people were said to have been injured after a gas explosion at a company in Sekondi-Takoradi Tuesday morning.

Ghumco, a utensils manufacturing company was said to be receiving liquefied petroleum gas (LPG) from a tanker when the explosion occurred.

The tanker split into two, flipped over and landed in a wetland close by.


To read the full piece from , click here.

Ghana, Cote D'Ivoire to sign 'agreement for strategic partnership'

President Nana Akufo-Addo meets with Ivorian President, Alassane Ouattara.

President Nana Akufo-Addo meets with Ivorian President, Alassane Ouattara.

Photo: 6800823861836_8008057268077.jpg
Photo: 6800823861836_8008057268077.jpg

President Nana Akufo-Addo has revealed that close co-operation between Ghana and Cote d’Ivoire will be facilitated by a new initiative dubbed “An Agreement For a Strategic Partnership”, that will be signed by the two countries.

This agreement, according to President Akufo-Addo, will bind Ghana and Cote d’Ivoire “in even closer intimacy and go beyond the bounds of the concept of the Permanent Joint Commission, which is the conventional tool for co-operation.”


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Ghana is a good test for US — Bruce Arena

Bruce Arena

The United States have now confirmed an international friendly with Ghana in July in preparation for the 2017 CONCACAF Gold Cup which takes place across the United States from July 6-21.

The United States, who beat Ghana 2-1 in the opening group game of the Brazil 2014 World Cup, will play Ghana for the first time on Ghana's Republic Day on July 1 at the Pratt and Whitney Stadium in East Hartford, Connecticut, a week before they open their 2017 Gold Cup campaign against Panama on July 8.


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Ghana, Burkina Faso pledge to strengthen bilateral ties

Ghana, Burkina Faso pledge to strengthen bilateral ties

The governments of Ghana and Burkina Faso have pledged to work towards strengthening the ties of co-operation that exist between them, after the Presidents of the two countries expressed satisfaction with the current state of the relations between them.

In a joint communiqué issued at the end of the 2-day official visit to Burkina Faso by President Akufo-Addo, it was resolved that the two countries reinforce their co-operation in the areas of railway transport, road transport, agriculture, water, security, trade, works and housing and energy.


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Nationwide blackout: Power expected by 10am

Dumsor

The Ghana Grid Company Limited (GRIDCo) has given assurance that power will be restored across the country by 10am.

A statement signed by the Head of Public Relations, Albert Kwesi Quainoo said Wednesday night’s nationwide blackout was a result of a surge that resulted in a shutdown of generators in the power system.

The statement noted that details of the cause of the outage would be communicated on the completion of preliminary investigations.


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Akufo-Addo wants Ghana-Togo borders open 24hrs

President Nana Akufo Addo with Togolese President Faure Gnassingbé.

President Nana Akufo-Addo is advocating a 24-hour opening of the Ghana and Togo borders in a bid which he said will boost trade and tourism between the countries.

He said the opening of the borders will give true meaning to the ECOWAS Protocols on Free Movement of Goods and Persons and will spur on progress and prosperity for both nationals.

The President said it will ensure that the peoples of the two nations reap the economic benefits thereof.


To read the full piece from , click here.

So-called ‘ghost names’ contain 13,800 of our members – NAGRAT

NAGRAT President, Christian Adai Poku

The National Association of Graduate Teachers (NAGRAT) is raising red flags about the authenticity of the over 26,589 ghost names government said have been removed on the payroll.

NAGRAT President, Christian Adai Poku told Evans Mensah on Joy FM’s Newsnite Wednesday, a total of 13,800 members of the Association have been captured in the supposed list of ghost names.

He said NAGRAT had anticipated the challenge but thought the Finance Ministry would have taken steps to rectify any outstanding anomalies.

NAGRAT President, Christian Adai Poku


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Labour unions question gov't's 'ghost names'

Finance Minister, Ken Ofori-Atta

Labour unions including the Ghana Medical Association (GMA) have questioned Government’s claim that it has saved millions of cedis by cleaning the public payroll and removing ghost names.

Their scepticism follows complaints by some of their members whose names have been mistakenly removed from the payroll.

The GMA, for instance, say the exercise has been riddled with errors.


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Ghana on the verge of petroleum crisis; gov't warned

Shortage of fuel

The Association of Oil Marketing Companies (AOMCs) has called on the government to regulate the growing activities of black market petroleum dealers which it says are pushing Ghana towards a petroleum crisis.

“Given the gravity of Petroleum Black Market dealers, we members of the AOMCs give the government 48 hours to bring this menace to an end.


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