Economics

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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MD of Ghana Airport Company resigns

Charles Asare, MD of Ghana Airport Company Limited

The Managing Director of the Ghana Airport Company Limited Mr Charles Asare has resigned, Citi Business News can confirm.

A letter from Mr Charles Asare cited by Citi Business News dated today the 14th of March, 2017 and addressed to the Aviation Minister stated that ”i write to inform you of my resignation as MD of Ghana Airport Company Limited in pursuant to clause 10 (g) of the Employment agreement dated 24th September, 2013”.


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Ghana Economic Outlook conference slated for March 22

The annual event will be held on the theme: “Unlocking Ghana's Economic Potential with Mobile Money and Payment System,” by the Africa Business Media (ABM) and supported by dozens of corporate institutions.

The Ghana Economic Outlook and Business Strategy (EOBS) conference is scheduled to take place on March 22 this year. The annual event will be held on the theme: “Unlocking Ghana's Economic Potential with Mobile Money and Payment System,” by the Africa Business Media (ABM) and supported by dozens of corporate institutions.

It is aimed at exploring ideas and suggestions from both the government and private sector to address Ghana’s mobile money, financial inclusion and electronic payment system as part of efforts to promote and sustain the growth of the Ghanaian financial system.


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President nominates MCEs, appoints presidential staffer

President Nana Akufo Addo

Accra, March 10, GNA - President Nana Addo Dankwa Akufo-Addo on Friday nominated four personalities for appointment as metropolitan chief executives.

They are Mr Mohammed Adjei Sowah, Accra Metroplitian Assembly, Mr Idrrisu Musah, Tamale Metropolitan Assembly, Mr Anthony K.K. Sam, Sekondi/Takoradi Metropolitan Assembly, and Mr Osei Assibey Antwi, Kumasi Metropolitan Assembly.

Their appointment is subject to the approval of their respective assemblies, a statement issued from the Office of the President, said.


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Hedging Ghana’s crude oil could be dangerous – Dr. Manteaw

Dr. Steve Manteaw, PIAC

An outspoken member of the Public Interest and Accountability Committee (PIAC), Dr. Steve Manteaw has cautioned Ghana’s crude oil managers against hedging the product at the international markets.

He explained that the risks associated with such practice could shortchange the nation’s petroleum revenue.

He thus called for a price stabilization mechanism in tandem with transparency provisions enshrined in the nation’s petroleum laws.


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