Mr Ken Ofori-Atta, Minister of Finance has announced government’s projection to grow the Ghanaian economy by 7.6 percent in 2019, which show an increase of 6.8 percent from last year’s figure. According to him, the government is also targeting a single-digit inflation of 8 per cent, a fiscal deficit of 4.2 per cent of GDP, …
Month: November 2018
British development finance agency CDC Group plans to invest up to $4.5 billion across Africa over the next four years to boost ties with the continent, its chief executive told Reuters on Wednesday, as the country prepares to leave the European Union. With Britain set to leave the world’s biggest trading bloc in March, government …
AFRICA 6-10-Largest-economiesGhana has moved up one place, up from eight to the seventh position, in the league of countries that attracts foreign direct investment (FDI) in Africa. 2018 EY Africa Attractiveness Report also ranked Ghana second in West Africa for FDI attractiveness. EY Africa Attractiveness Survey and Report is by Ernst & Young Company …
Ghana is recording appreciable investments into its financial sector following the clean up by the central bank. The CEO of the GIPC, Yofi Grant tells Citi Business News the centre should record more after the banks recapitalize. The banking sector reforms which has spanned for about a year and a half, has seen seven local …
Senior Minister Yaw Osafo Maafo has warned that Ghana’s financial system could face an imminent collapse if industry personalities continue to compromise the rules and regulations put in place to protect the system. He made the comments at the Securities and Exchange Commission’s(SEC) 20th anniversary Dinner and Awards Night here in Accra. The Securities and …
The Vice President, Dr. Mahamudu Bawumia is advocating a review of the cap on daily mobile money transfers. He explains this should reduce the turnaround time for businesses and individuals. The Vice President made the remark when he launched the second phase of the mobile money interoperability on Wednesday, November 28, 2018. “Given this powerful …
Africa’s VC landscape is becoming more African with an increasing number of investment funds headquartered on the continent and run by locals, according to data from Crunchbase. The study also tracked the emergence of homegrown corporate venture arms and more Africans in top positions at outside funds. These results derived from a year-long project to …
Even in the bloated-budget world of oil exploration, $70 million is a lot of money. And yet that’s how much Kevin Okyere, one of Ghana’s savviest yet understated entrepreneurs, has personally expended in developing the highly promising West Cape Three Points Block 2 offshore Ghana (WCTP2). Springfield Group, the energy conglomerate he founded and controls, …
Ghana is opening its first commodities exchange as the West African nation seeks to raise the income of farmers by connecting them with buyers for their produce, eliminating crop wastage. The Ghana Commodities Exchange will Tuesday begin facilitating trade in yellow and white corn, soybeans and sorghum, Chief Executive Officer Kadri Alfah said in a …
Charles Kie, formerly of Ecobank, and co-founder Paulo Gomes, formerly of the World Bank, earlier this month announced their launch of pan-African investment platform NACP. Its aim is to help grow small and medium-sized enterprises across Africa, as well as larger financial institutions, with funding sourced largely from investors based on the continent. NACP’s first …