News

Accra, May 17, GNA - Ghana has been described as an important development partner of China on the African continent.
“Since the establishment of diplomatic relations between Ghana and China 57 years ago, the two countries have enjoyed fruitful cooperation in the economic and trade fields, bringing tangible benefits to people of the two countries.”

Sun Baohung, Chinese Ambassador to Ghana, said this at the opening ceremony of the China Trade week in Accra on Wednesday.

Ghana may export power to neighbouring countries by 2020 if current reforms in the energy sector are completed, Energy Minister, Boakye Agyarko has said.

The Minister said the country could be generating in excess energy capacity of 1,700 megawatts because of the many power plants being installed.

Speaking on the final day of the National Policy Summit 2017 at the Accra International Conference Centre Tuesday, the Minister said the excess power will be exported for the money to be invested in other sectors of the economy.

Government has revealed plans to anchor industrialization in the country on the establishment of ten new industrial parks.

According to Minister for Trade and Industry, Alan Kyerematen, each of the ten regions would have one park with the requisite facilities and flexible land schemes to facilitate the setting up of industries.

This initiative which draws heavily on similar models from Asia, is expected to create thousands of jobs for Ghanaians.

Government will take measures to protect local businesses from foreign competitors, the Finance Minister, Ken Ofori Atta has said.

In response to concerns raised by the President of the Association of Ghana Industries , James Asare Adjei on competition from foreign investors at the maiden National Policy Summit, the Minister said there should be no apologies over government’s desire to see local companies flourish at the expense of foreign ones.

A rematch between unified heavyweight champion Anthony Joshua and Wladimir Klitschko could take place at Cardiff's Principality Stadium in October.

Briton Joshua stopped Klitschko at Wembley last month to add the WBA world heavyweight title to his IBF crown.

Wales' rugby union team will play at the Principality Stadium for most Saturdays in November and December, but 28 October could be a potential date.

"Talks are ongoing over venues," said Joshua's promoter Eddie Hearn.

Accra, May 10, GNA - The year-on-year inflation rate went up slightly in April to 13.0 per cent, up by 0.2 percentage points, compared with the 12.8 per cent recorded in March.

The Acting Government Statistician, Mr Baah Wadieh told a press conference on Wednesday that the monthly change rate in April 2017 was 1.6 per cent, while that for March 2017 stood at 1.3 per cent.

The year-on-year non-food inflation rate recorded for April was 16.3 per cent compared with the 15.6 per cent recorded in March 2017.

The government has released an amount of over one hundred million Ghana Cedis for the payment of feeding grants for second cycle institutions.

The amount covers feeding arrears for about two out of the four outstanding terms.

According to a statement from the Ministry of Finance, the government is processing the claims for the other outstanding arrears for the two terms in question.

The non-payment of the arrears has affected the re-opening of most senior high schools especially in the three regions of the North.

Senior High Schools in the three northern regions have delayed reopening indefinitely, JoyNews has learnt.

The three regions together have a total of 72 Senior High Schools that are managed by the Ghana Education Service.

The Heads say government’s failure to reimburse the outstanding feeding grants for four academic calendars, necessitated the action because they were hugely indebted to their suppliers.

Government has defended its decision to reduce the syndicated loan for cocoa beans purchases for the 2017/2018 crop season, by about 28 percent.

The country will be seeking 1.3 billion dollars from its lenders for cocoa purchases for the next crop season which starts in October 2017.

This amount is lower compared to the 1.8 billion dollars the country secured last year.

Deputy Agric Minister, William Kwaitoo explains to Citi Business News the move is to avert high losses associated with the declining global prices of cocoa.