Cargill Ghana Limited, a subsidiary of Cargill Cocoa & Chocolate, has provided food items to over 1,000 families in different communities in Tema and its environs where the company operates. The gesture was in fulfilment of the company’s pledge to support the vulnerable and less privileged to cope with...
The Ghana Integrity Initiative (GII) has appealed to the President, Nana Addo Dankwa Akufo-Addo, to commence immediate probe into the recent bribery allegations involving the former Chief Executive Officer of the Tema Oil Refinery (TOR) boss, Asante Berko.
According to the GII, the incident following which the former TOR boss...
US oil prices turned negative for the first time on record on Monday as North America’s oil producers run out of space to store an unprecedented oversupply of crude left by the coronavirus crisis.
The price of US crude oil collapsed by more than 105% to -$2 per barrel in...
To say this pandemic poses a threat of serious losses to the Petroleum Industry worldwide might not adequately capture the sheer numeric magnitude of the shortfall for this particular industry. We are talking about an industry where small change is spoken about in the billions, so you’d have to...
Despite the growing threat of COVID-19 to virtually all aspects of business and the economy, the Ghana Cocoa Board (COCOBOD) has given the strongest assurance that its annual cocoa syndication loan facility will go ahead without any hitches.
Joseph Boahen Aidoo, CEO of COCOBOD, assured farmers and other industry stakeholders...
While oil contribution to government revenue is expected to drop by nearly US$600million, the sector's total contribution to Gross Domestic Product (GDP) is set to drop by US$2.5billion this year, according to Alex Mould, a former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) and National Petroleum...
The use of child labour on cocoa farms in top producers Ivory Coast and Ghana has risen over the past decade despite industry promises to reduce it, according to a draft of a U.S. government-sponsored report seen by Reuters.
More than 2 million children worked in the sector last season...
Cocoa remains Ghana`s most important export crop representing nearly 40 percent of total exports. Due to its significant foreign exchange earnings, the Government of Ghana has set up the Ghana Cocoa Board under the Ministry of Finance and Economic Planning to regulate the sector with the hope of ensuring...
Zambia has become the latest African country looking for help to tackle its hefty debt burden this week as international lenders and analysts are warning the pandemic crisis could push many of the continent’s economies into debt distress.
Below are four charts to show some economic and fiscal pressures faced...
Ghana’s forests require better care if cocoa farming is to be sustainable. Wikimedia Commons
Cocoa production has been the backbone of Ghana’s economy since the 1870s. It dominates the agricultural sector and contributes about 30% of the country’s export earnings. Cocoa employs about 800,000 farmers directly. It also supports the...