Economics

GSE composite index drops

Stock Exchange in action

Accra, Aug. 19, GNA – Trading on the Ghana Stock Exchange (GSE) on the third week of August bourse ended with transactions in 14 equities, with eight prices changes in an advance to decline ratio of 1:7.

The benchmark GSE - Composite Index dropped by 0.4 per cent to close at 1,824.4 points, stock market analysis made available to the Ghana News Agency in Accra on Friday by Nordea Capital, an investment bank, has stated.


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Indigenous enterprises receive one billion worth of contracts

President John Dramani Mahama

Takoradi, Aug. 19, GNA - President John Dramani Mahama has said indigenous small-scale businesses have received one billion dollars worth of contracts from petroleum companies since the commencement of commercial production of crude oil in the country.

He said the award of contracts to local enterprises was in compliance with the country’s Local Content and Participation Policy which had created over 7,000 jobs aimed at ensuring that the hydrocarbon resources benefited Ghanaians.


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AGI urges private sector to support EXIM Bank

James Asare-Adjei, AGI President

Accra, Aug 18, GNA - The Association of Ghana Industries (AGI) has urged the private sector to support government’s efforts in the establishment of EXIM Bank- Ghana.

Mr James Asare-Adjei, the AGI President, said the activities of the bank would inure to the benefit of industries and businesses in the country.

He said the AGI in its advocacy, as the leading voices of private sector, had been highlighting challenges and difficulties which frustrate growth efforts of businesses and continued to stifle the country's industrialisation drive.


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Trade minister warns against false import declaration

Ekow Spio-Garbrah – Minister of Trade

Kumasi, Aug 19, GNA - Dr. Ekwow Spio-Garbrah, the Trade and Industry Minister, has cautioned importers to desist from making false declaration of goods, cleared at the ports.

He said in as much as the government was eager to create a business-friendly environment, anything illegal that denied the state vital revenue for socio-economic development would not be accepted.

The Minister described as deeply disturbing the situation where about 65 per cent of importers engaged in the unhealthy practice.


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Oil now flowing from offshore Ghana

Oil now flowing from a field complex off the coast of Ghana, a central component of the portfolio for Tullow Oil. Photo courtesy Tullow Oil

Mega-field complex off the West African coast could produce as much as 80,000 barrels of oil per day.

LONDON, Aug. 18 (UPI) -- One of the bigger oil projects off the coast of West Africa has started production from a floating facility offshore Ghana, Tullow Oil announced Thursday.

"I am delighted that the TEN fields have reached first oil," Tullow CEO Aidan Heavey said in a statement.


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Nkrumah Interchange delays not for electoral gains – Minister

The Kwame Nkrumah Circle interchange in Accra

A section of Ghanaians claim the delays in the completion of the project and its subsequent commissioning was a deliberate ploy by the government to deliver it at the last minute to elections in order to score some political points

But Alhaji Fuseini play down the claims, saying “this is not a way by government to buy votes ahead or during the elections because these projects had been planned already”.


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President Mahama commissions six-unit classroom block for Ada SHS

President Mahama cutting the tape to declare SHS Block opened

President John Dramani Mahama has commissioned an ultra-modern six unit classroom block for the Ada Senior High School.

The six unit classroom block with 2 staff common rooms and 9 toilet facilities was provided by Groupe Ideal.

At a short ceremony in Ada, Paramount Chief, the Queen mother, the Headmaster, and members of the community gathered at the forecourt of the new school building to officially receive the keys from Groupe Ideal.


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Businesses urged to incorporate environmental health operations

Dr Bernice Adiku Heloo

Accra, Aug. 14, GNA - The Deputy Minister of Environment, Science, Technology and Innovation, Dr Bernice Adiku Heloo has urged stakeholders to incorporate environment health and safety tips into their operations in order to help promote the sustainable development goals (SDGs).

Speaking at the maiden launch of the Environmental Health and Safety Awards in Accra, she noted that science and technology has brought in its wake environmental and health challenges through socio- economic activities.


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Bank of Ghana keeps policy rate at 26 per cent

Dr Abdul-Nashiru Issahaku

Accra, July 18, GNA - The Bank of Ghana (BoG) held its policy rate unchanged at 26 per cent as the risk to inflation and growth is in balance.

“In assessing the current economic conditions, the Committee views the risks to inflation and growth as balanced and decided to maintain the policy rate at 26 per cent,” Dr Abdul-Nashiru Issahaku, the Governor of BOG, told a press conference on Monday.

Dr Issahaku said to a large extent, the pace of decline in inflation had been reinforced by the current tight monetary policy stance and stability in the local currency.


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