Economics

Ghana records over $500m trade surplus in February 2017

Ghanaian Port

New figures from the Bank of Ghana have revealed that Ghana’s total balance of trade for February 2017 recorded a surplus of 573 million dollars.

This is equivalent to 1.3 percent of Gross Domestic Product for the period.

The surplus is an improvement compared to the over 500 million dollars deficit recorded in February 2016.

But the country’s revenue from cocoa for the period dropped by ten percent.


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Ghana central bank suprises with interest rate cut to 23.5%

Bank of Ghana

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Ghana’s unemployment rate hit 11.9 % in 2015 – Report

Employment & Labour Minister, Ignatius Baffour Awuah and the Ag. Government Statistician, Baah Wadieh launching the report

Ghana’s unemployment rate stood at 11.9 percent in 2015.

This is according to the latest Ghana Labour Force Survey Report by the Ghana Statistical Service.

This is about twice the figure recorded in 2012/2013 (5.8%) based on the Statistical services strict definition of unemployment – where “one was not working, actively looking for a job and available for work.”

However, the definition has changed for the 2015 studies, was based on a relaxed definition where “one was available for work and not working within the last seven days before an interview.”


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US government committed to transforming Ghana’s power sector - Ambassador

Robert Porter Jackson, US Ambassador to Ghana

Takoradi March 23, GNA - Mr Robert Porter Jackson, United States of America Ambassador to Ghana has stated that the US government was committed to the transformation of the power sector in Ghana.

He said through companies like GE oil and gas, the US government had made huge investments in they had provided 350million dollars towards the self- help electrification project in 200 communities across Ghana.

Mr Jackson said this during the inauguration of a multi-million dollar General Electric (GE) oil and gas service facility at the Takoradi Port in the western region.


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President Akufo-Addo assures investors of conducive climate for business in Ghana

Accra, March 21, GNA - President Nana Addo Dankwa Akufo-Addo, has assured investors, both domestic and foreign, that neither his government nor his appointees are in office to compete for business opportunities with the private sector.

He said his administration was setting the ground rules on how government and the private sector should work, reiterating that “the private sector is not going to bring projects only for members of government and their cronies to take over them.


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President Akufo-Addo assures investors of conducive climate for business in Ghana

President Akufo Addo at CEO Forum in Geneva, Switzerland.

Accra, March 21, GNA - President Nana Addo Dankwa Akufo-Addo, has assured investors, both domestic and foreign, that neither his government nor his appointees are in office to compete for business opportunities with the private sector.

He said his administration was setting the ground rules on how government and the private sector should work, reiterating that “the private sector is not going to bring projects only for members of government and their cronies to take over them.


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Ghana among countries with most ‘bounced’ US visa applications

US Embassy in Ghana

Ghana is among the countries with the highest United States visa application denial rates, according to the U.S. State Department.

Ghana was among the 13 countries with a denial rate of over 60 percent according to figures from the 2015 fiscal year.

The highest rates were found to be in African and Middle Eastern countries, including Syria and Somalia, whilst Cuba and Laos also had high denial rates.

The Visa acquisition process


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2017 Budget failed to set social protection targets - SEND Ghana

SEND Ghana Rep

Civil Society Organisation, SEND Ghana has faulted the government over its inability to clearly state its targets for social protections issues, especially child protection and welfare in the 2017 budget.

The group explained that although expenditure allocation to the sector Ministry - the Ministry of Gender, Children and Social Protection- increased by about 416 per cent over the 2016 figure, the absence of a programme budget for the ministry would make it difficult to assess the proportion that goes into child rights promotion and protection.


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Minister bemoans neglect of CSIR research findings

Prof. Kwabena Frimpong Boateng

The Minister of Environment, Science, Technology and Innovation, Professor Kwabena Frimpong Boateng, has said part of the reason for Ghana's slow pace of development after 60 years of independence is the neglect of research findings and innovations.

He said the findings and technological breakthroughs of the 13 institutions of the Council for Scientific and Industrial Research (CSIR) had been neglected and were bought cheaply by foreign companies, particularly those in Europe and other developed nations.


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Millionaires in Ghana rise close to 3000 - Wealth Report

Wealth

Ghana can now boast of 2,900 millionaires whose net worth has been estimated to be in dollars after some 200 more Ghanaians joined the list categorised as elite group in 2016.

Out of the number, at least 10 people joined the ranks of those with net wealth more than $10 million, with no addition to the pool of those worth $30 million and above.


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