Government has allocated US$50 million to the National Entrepreneurship and Innovation Programme (NEIP) to support SMEs with funding to expand their business so they can employ more. In the 2017 budget, US$10 million was allocated to programme, and Finance Minister, Ken Ofori-Atta said, at the 4th African SME Summit, that...
For a considerable period of time now, the country’s economy has been dominated by the Services Sector. The sector comprises trade, repair of vehicles and household goods; hotels and restaurants; transport and storage; information and communication; financial and insurance activities; real estate, professional, administrative, public administration; education; health; commodity,...
The Executive Board of the International Monetary Fund (IMF) today approved the disbursement of SDR 738 million (about US$1 billion) to be drawn under the Rapid Credit Facility (RCF). The disbursement will help address the urgent fiscal and balance of payments needs that Ghana is facing, improve confidence, and...
 Earmarks US$20m to build a Corporate Head Office -US$10m to build Operational Head Office in Takoradi -NDC MPs raise alarm; caution the decision to borrow to fund those projects   A majority voice vote, on the floor of Parliament, Thursday, was enough to ensure the safe approval of the 2018 program of activities...
…as 1D1F receives boost with 20 rail projects Russian railway company, Geo Services, has disclosed to the B&FT that it has begun the process towards the establishment of a Railway University in the country. To this end, the company has facilitated the signing of a memorandum of understanding (MoU) between the...
The Public Procurement Authority (PPA) has said the concession granted IBISTEK Ghana Limited to develop and operate an on-dock container and multi-purpose terminal project at Port Takoradi followed due process. The authority said this in a document sighted by the B&FT after our publication in the Friday, March 2, 2018,...
The Minister for Aviation, Cecilia Abena Dapaah has indicated that two new domestic airlines will be coming on stream sometime in the second quarter of the year. Presently, Africa World Airlines (AWA) remain the only domestic air carrier and the Minister reckons with two new airlines coming on board,...
Industries could heave a sigh of relief by January, following a revelation by Vice President Mahamudu Bawumia that power tariffs could be reduced by as much as 25 percent. “We will actually be seeing some significant reduction in the cost of electricity for industrial production next year in Ghana, and...
Even though Meralco Consortium led by the Manila Electricity Company of the Philippines has been selected by the Millennium Development Authority (MiDA) to manage the state-owned power provider, Electricity Company of Ghana (ECG), under the Power Compact II agreement, it has emerged that the government of Ghana reserves the...
Energy Minister, Boakye Agyarko, has told Parliament that government has cancelled 11 Power Purchase Agreements (PPAs) at a cost of US$402million, given their precarious nature and the total cost of US$7.6billion that would have accrued in capacity charges over a 13-year period. Mr. Agyarko told Parliament last week that:...