News

Paul Pogba has taken time out of his Premier League weekend preparations to celebrate the Muslim holiday, Eid Al-Adha.

The Manchester United midfielder is a practising Muslim and joined fellow France international and former Manchester United defender Patrice Evra in marking the September festival.

Pogba was criticised for his anonymous performance in United's derby defeat to Manchester City on Saturday but the 23-year-old looked in good spirits in a video posted to his Instagram page.

Ghana will start its first foreign-exchange auction by inviting bids for the proceeds from the cocoa regulator’s syndicated loans as the West African country seeks to liberalize its currency markets.

“We will start with a rules-based market-driven auction,” Bank of Ghana Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. “Banks will come to the auction and bid for the proceeds.”

Inflation slowed to 15.8% in October from 17.2% in September

Ghanaians scheduled to vote in general elections on Dec. 7

Ghana’s central bank cut its benchmark interest rate for the first time in more than five years after inflation slowed to the lowest rate since 2014.

The Bank of Ghana cut the rate by 50 basis points to 25.5 percent, Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra.

Five of the six economists in a Bloomberg survey forecast the rate would be reduced and one said it would be kept unchanged at 26 percent.

The operator of Ghana’s sole oil refinery said the planned capacity of a proposed second plant could be doubled as the West African nation targets exports to neighboring countries.

Tema Oil Refinery will complete studies next year to build a 200,000 barrel-a-day plant in the port city, 30 kilometers (19 miles) east of the capital, Accra, Managing Director Isaac Osei said in an interview. Output at the existing 45,000 barrel-a-day plant has been slashed by an explosion at its crude distillation unit in January.

ACCRA (Reuters) - The International Monetary Fund (IMF) plans to visit Ghana to hear the new government's plans for implementing the country's $918 million aid deal, the Fund said on Thursday.

President Nana Akufo-Addo was sworn in on Saturday pledging to cut taxes, spend on development and boost annual growth to double digits as he seeks to return Ghana to its place as one of Africa's most dynamic economies.

ACCRA, Aug 24 (Reuters) - Ghana's producer price inflation (PPI) rose to 10.3 percent year-on-year in July from 7.6 percent the month before, driven by rising gold prices, the statistics office said on Wednesday.

PPI is a major component of consumer inflation, which has for years remained above government targets. The West African commodity exporter is implementing a three-year aid deal with the International Monetary Fund to restore fiscal balance.

Oct 4 Two of Nigeria's 10 presidential jets have been put up for sale as part of a drive to cut costs, a spokesman for President Muhammadu Buhari said on Tuesday.

Buhari, a 73-year-old former military ruler who took office last year, has vowed to crack down on corruption and mismanagement of public funds that has seen a rich elite benefit from the OPEC member's oil wealth while most Nigerians live on less than $2 per day.

ACCRA Aug 10 (Reuters) - Ghana's annual consumer price inflation dropped to 16.7 percent in July from 18.4 percent in June as the cedi currency stabilised and food prices fell at the start of the harvest season, the statistics office said on Wednesday.

The West African country has enjoyed general price stability this year compared to last, when water tariffs increased 15 percent and petroleum prices also increased significantly.

South Africa's largest insurer Sanlam Ltd has sold its stake in Ghanaian holding company Enterprise Group's insurance business for $130 million but will retain a presence in the country, Sanlam said on Friday.

Sanlam Emerging Markets (SEM), a subsidiary of the Sanlam Group, acquired the 40 percent stake in Enterprise Insurance in 2014.