Economics

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.

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.

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.

The Institute for Energy Security (IES) has predicted that a gallon of petrol will now sell at almost GHS24 starting Saturday, 1 June 2019.

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

The life of Thomas Partey snuffed out of him in stray-bullet style. Too quickly to afford him the luxury of screaming or writhing in pain, eyewitnesses say.

It would seem as quick as power is snuffed out of homes by the Power Distribution Service (PDS) officials on a mass disconnection exercise in the Eastern region.

The 14-year-old has died over a 3-year old problem – “extremely outrageous” electricity bills in the Lower Manya Krobo area.

Residents in Cape Coast and surrounding towns in the Central region are in a water supply crisis as they continue to bear the brunt of illegal mining in River Pra.

JoyNews Central regional correspondent reports, residents hunt for water as the taps have run dry – because the Sekyere-Hermang water treatment plant is choked with turgid water.

The plant in the Western region, built in 2008 for €40m, sips a portion of the 240km Pra River and treats it for onward pumping into Brimsu waterworks in Cape coast.

Policy think-tank IMANI has petitioned the Speaker of Parliament to institute a probe into the 10-year Uni-Pass contract signed between the Ministry of Trade and Ghana Link Network Services Limited—in collaboration with their foreign partners Customs Uni-Pass International Agency (CUPIA) of Korea Customs Services—to introduce Uni-Pass to the ports system.

The request for a Parliamentary enquiry into the Uni-Pass deal, according to IMANI, is to “prevent disruption to Ghana’s progress on trade facilitation”.

A fall in inflation coupled with the strengthening of the cedi and the falling of prices of fuel on the international market should spur a further reduction in the price of fuel at the pumps for consumers, Ghana’s Deputy Minister of Information Pius Enam Hadzide has said.

The prices of petrol, diesel, Liquefied Petroleum Gas (LPG) are expected to fall by 5.8%, 4.8, and 2.4%, respectively.

The Chamber of Petroleum Consumers-Ghana (COPEC-GH), has predicted that fuel prices will remain stable at the pumps in the second pricing window of December 2018 despite a dip in world market prices by between 6% and 9%.

“Our checks with the various Oil Marketing Companies (OMCs), however, indicate a notice of the full restoration of the Price Stabilisation and Recovery Levy (12p for gasoline and 10p for gasoil) back into the price build-up.