Economics

Farmers demand increase in cocoa prices – Report

Farmers drying cocoa beans

Cocoa farmers have called on government to increase producer prices of cocoa by October 2019.

They argued that the producer price of cocoa was inadequate and had worsened their economic welfare.

This was contained in a research report: ‘Assessing Farm Gate Pricing and Income of Cocoa Farmers,’ launched in Accra yesterday and it aimed at identifying key players in the cocoa industry who are involved in the determination and setting of cocoa producer prices.


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Don’t panic; keep doing business with rural banks – BoG

Bank of Ghana Boss Dr. Addison

The Bank of Ghana has denied social media rumours that its intended clean-up of the rural and community banks sector will cause depositors to lose their funds.

In a statement, the central bank said its attention “has been drawn to malicious messages circulating on social media platforms such as WhatsApp and Facebook that an intended ‘clean up’ of the Rural and Community Banks (RCBs) sub-sector would negatively affect depositors fund with RCBs, urging them to move their funds to other institutions”.


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Kwame Osei-Prempeh appointed acting Managing Director of GOIL

Kwame Osei-Prempeh

The Board of Directors of GOIL Company Ltd has appointed Kwame Osei-Prempeh as the Acting Managing Director and Group Chief Executive of the company.

His appointment took effect from 3rd June 2019.

Mr Osei-Prempeh has been a Board Member of GOIL since 2017. He takes over from Patrick Akorli who has taken his leave prior to retirement after 23 years of service to GOIL.

Mr Osei-Prempeh has a wealth of experience in public service and in private practice as a senior legal practitioner.


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Action against Barclays Bank Ghana; a step in the right direction – Banking Consultant

Banking Consultant, Dr Richmond Atuahene

A Banking Consultant has lauded the Bank of Ghana’s action against Barclays Bank Ghana, saying it is a step in the right direction.

Dr Richmond Atuahene says “…So for me, it is part of the conduct regulations which I believe, it is okay with the Bank of Ghana which is very good because the pricing of the currency is very critical.”


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A-G to protect 'privileges' of charged MPs

Mahama Ayariga, MP and former Minister of state

Deputy Attorney-General, Joseph Kpemka, says henceforth his outfit will ensure Parliamentarians are not impelled to appear in court on days that the House is sitting.

This is after Tuesday’s clash between two arms of government -Parliament and the Judiciary- following an order by an Accra High Court forcing Bawku Central MP, Mahama Ayariga, to abandon Parliamentary duties and appear to defend corruption charges brought against him by the Office of the Special Prosecutor.


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Accra floods: World Bank intervenes with $200m

Accra Floods

Over 2.5 million people in the Odaw River Basin of the Greater Accra Region (GAR) will benefit from improved flood risk management, solid waste management and improved access to basic infrastructure and services in targeted communities of the GAR, under the Greater Accra Resilient and Integrated Development (GARID) project.

The $200 million funded project was approved by the World Bank Board of Executives Directors today.


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Borrowing not bad if you can pay back - Finance minister

Finance Minister, Ken Ofori Atta

The Finance Minister has stated emphatically that the Akufo-Addo administration will continue to borrow, despite concerns about the country’s debt.

This is after the public debt went up by ¢22 billion in the last four months to bring the total to ¢198 billion which is 57% of GDP.

But as government prepares to start the process of rolling out an ambitious 38-year developmental programme, Ken Ofori Atta believes it is not out of place for the Akufo-Addo administration to continue borrowing.


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Ghana Beyond Aid Committee apologises to Akufo-Addo

Nana Akufo-Addo

The Ghana Beyond Aid Committee has rendered an unqualified apology to President Nana Addo Dankwa Akufo-Addo and the entire nation for using a photograph from Kenya on the cover page of its strategy document which was launched on 1 May 2019 during the May Day celebration by Mr Akufo-Addo.

This error has attracted widespread criticism and also made mockery of the Ghanaian president.


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Full list of all 347 MFIs whose licences’ve been revoked

BOG Governor

The Bank of Ghana on Friday announced the revocation of the licences of 347 microfinance companies which were either insolvent or had folded up voluntarily. Find the full list below: MICROFINANCE COMPANIES - INSOLVENT S/No NAME OF INSTITUTION 1 1ST EYE MICROFINANCE COMPANY LIMITED 2 ABEPA MICROFINANCE LIMITED 3 ACEA MICROFINANCE CO...

Find the full list below:

MICROFINANCE COMPANIES - INSOLVENT

S/No NAME OF INSTITUTION

1 1ST EYE MICROFINANCE COMPANY LIMITED

2 ABEPA MICROFINANCE LIMITED

3 ACEA MICROFINANCE CO. LIMITED


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