The Monetary Policy Committee of the Bank of Ghana (BoG) has increased the policy rate by 100 basis points to 14.5 percent. The policy rate is the rate at which the central bank lends to commercial banks inn the country.
Announcing the rate in press statement the committee said Headline...
As COVID-19 cases continue to increase in AGRA-focus (1) countries, food insecurity remains a concern as economies suffer, AGRA’s COVID-19 Situation Report Number 5 for July 2020 states.
With slowing growth across Africa, governments are launching new initiatives to mitigate the impacts of COVID-19 and bring agriculture to the forefront...
The cedi has fallen into an unprecedented depreciation against its major trading counterparts, particularly the United States dollar, as analysis of the data shows it has seen its worst performance in the past seven years.
According to daily interbank FX rates (the day’s weighted average) published by the Bank of...
...targets zero unregistered imports in the next 1 month
The Food and Drugs Authority has stepped up its import controls as part of on-going registration activities at Port Tema for all imported products.
The Authority has fined about 10 importers for failing to register their products before arriving into the country.
The...
Amid the incessant rise of consumer inflation and gloomy expectations, government is incurring more costs to refinance its local debt as well as the budget, given investors' demand for higher yields across the various securities on the domestic market, analysis of market data has shown.
Currently, inflation is increasing with...
COVID-19 job losses
Over 42,000 people who lost their jobs as a result of the negative impact from COVID-19 are set to benefit from the Unemployment Insurance Scheme, Deputy Minister Designate for Employment and Labour Relations, Bright Wireko-Brobbey, has assured.
The scheme is aimed at providing some relief for workers who...
In The Fortunes of Africa, author Martin Meredith describes a Dutch sailing ship that dropped off a load of laundry for the Khoikhoi, the local inhabitants of the southwestern cape of Africa whom Europeans called Hottentots. The year was 1713. The Khoikhoi washed the laundry and were duly paid....
...says delays deny state of much-needed revenue
The Africa Centre for Energy Policy (ACEP) has urged government to review exploration contracts of companies that have failed to invest in their oil blocks.
In all, about 12 oil agreements, awarded prior to 2016, are said to be idle. The delay in exploring...
A draft report that will see 70 percent of government of Ghana-funded projects go to local contractors has been completed, and is expected to be submitted to Cabinet and Parliament for approval soon.
The new policy, government believes, will help grow local businesses.
It is aimed at empowering indigenous contractors, and...