Hold neutral stance amid energy, FX risks - IMF urges BoG

The Bank of Ghana has kept its benchmark policy rate unchanged at 14 percent as improved fiscal performance, stronger external buffers and resilient domestic activity offset renewed inflation risks from higher oil prices and global supply disruptions.

The Minerals Income Investment Fund (MIIF) is exploring investments and strategic partnerships across the domestic mining supply chain. Steel manufacturer B5 Plus is an identified potential partner as the Fund seeks to increase local participation and retain more value from mineral production.

Economist and legal practitioner Appiah Kusi Adomako has called on government to test the US$235million desalination penalty award for legal grounds to mount a challenge, while negotiating a settlement that contains the state’s exposure and restores water supply to Teshie and surrounding communities.

The Ghana Revenue Authority (GRA) has launched a National VAT Awareness and Compliance Campaign to tackle persistent gaps in value added tax (VAT) compliance, while introducing measures aimed at making registration, filing and payment easier for taxpayers.

Vegetable farmers in the Keta Municipality of the Volta Region are calling for the construction of a centralised cold-storage facility and commercial processing factory to reduce post-harvest losses and improve the value of crops produced across the southern sector.

Power tariffs will remain unchanged in the fourth quarter (Q4) despite a 3.04 percent depreciation of the cedi and a sharp rise in the inflation assumption used by the Public Utilities Regulatory Commission (PURC) as lower natural gas costs and a stronger projected contribution from hydro generation help contain pressure on electricity prices.

Africa must strengthen its capacity to deliver the payment systems, efficient borders and infrastructure that businesses need to benefit from the African Continental Free Trade Area (AfCFTA), Mr Wamkele Mene, Secretary-General of the AfCFTA Secretariat, told project professionals at Project Management Institute’s Global Summit Series in Cape Town.

Must a country build everything others built, in the same order, before its people can enjoy similar opportunities? Leapfrogging offers a different way of thinking about that question.