Ghana’s Minister of Justice and Attorney General, Marietta Brew Appiah-Opong has ruled out government’s desire to adopt a hostile posture in its attempt to resolve the ongoing maritime boundary dispute with Cote d’Ivoire after initiating an arbitration proceedings in Germany. This follows breakdown in bilateral negotiations to settle the four year-old dispute over the ownership of a territory in the maritime border, which experts say holds about two billion barrels of oil reserves, as well
On September 21, 2012, an ambitious airline officially commenced operations in Ghana with a maiden flight from Accra to Kumasi. In an industry that was dominated by the three existing domestic carriers at the time -- Antrak, Fly540, and Starbow -- the entry of this new airline, Africa World Airlines, generated new excitement among the travelling public and stirred interest in air travel. The airline's entry into the market brought a lot of competition that led to a significant drop in air fares.
The Ghana Chamber of Commerce and Industry (GCCI) supports the decision by the Ghana Standard Authority (GSA) to withhold implementing the Certificate of Conformity (COC) programme that was scheduled to take effect from October 1, 2014. The Ghana Chamber of Commerce and Industry in a statement said it appreciates any effort aimed at preventing the importation of unsafe, substandard and/or counterfeit goods. However, no matter how good that initiative is, it should not be done unilaterally. The statement
President Dramani Mahama on Monday explained why Ghana has gone in for assistance from the International Monetary Fund despite a relative stability of the local currency. He said although Ghana's economic growth was moving at an average of eight percent in the last five years, a high wage bill and other development challenges were thwarting those economic growth indicators. President Mahama said this when he addressed African Heads of State Investment Dialogue and Networking Luncheon as part
Agricultural Development Bank (ADB) has announced the signing of a US$30m Remittance-Backed facility with the Ghana International Bank (GHIB) plc, London. According to Joe Mensah, Chief Executive Officer of GHIB, the facility which is to be used for general corporate purposes, is a milestone for the two institutions. “The facility represents a significant step in the strengthening of relationship between the two institutions as GHIB positions itself to be the leading offshore banking provider to
If the country is really and truly desirous of a prosperous manufacturing sector, then it has no option than to work on achieving a single-digit interest rate regime, James Asare Adjei, President of the Association of Ghana Industries (AGI), has said. “How can we compete with businesses in other jurisdictions which are borrowing at 5%, 6% or maybe 9%, compared with what we have here -- between 26% and 35%? How do you survive as a business, not to talk about the various other challenges like energy
The value of the country’s mining sector is anticipated to reach US$3.8billion in 2018, up from US$3.3billion recorded in 2013, as bauxite and gold production see modest increases, B&FT has gathered. “We expect gold to be the main driver of growth, but see bauxite playing a growing role. Ghana is set to remain Africa's second-largest gold producer after South Africa, as investment continues to flow into the country,†the Business Monitor International's (BMI) Ghana Mining Report
The value of the country’s mining sector is anticipated to reach US$3.8billion in 2018, up from US$3.3billion recorded in 2013, as bauxite and gold production see modest increases, B&FT has gathered. “We expect gold to be the main driver of growth, but see bauxite playing a growing role. Ghana is set to remain Africa's second-largest gold producer after South Africa, as investment continues to flow into the country,†the Business Monitor International's (BMI) Ghana Mining Report
Lack of access to fertilisers has been identified as a major factor hampering the cultivation of oil palm crop in the country, Dr. Thomas Fairhurst, an international field agronomist, has observed. "Our take home is how to improve the fertiliser supply chain up to the farm gate. If Ghana invests in an improved fertiliser supply chain, it is going to improve all sectors including cocoa and other crop-growers and so on. "Fertiliser is the driver, and we know that when we study the soil analysis
Mr. Kweku Ricketts-Hagan, Deputy Minister of Trade and Industry, has reiterated the need for Metropolitan, Municipal and District Assemblies (MMDAs) to commit more resources to the development of small and medium enterprises (SMEs) as mandated by law. This will eventually profit the MMDAs through increased taxes, property rates and levies, as well as enhance the general well-being of the people within their jurisdictions, he said. “I am aware that the complaint of many District Assemblies is
Guaranty Trust Bank (Ghana) Limited has signed a US$20million term facility agreement with the Dutch development bank, FMO. The facility amount will be applied toward on-lending to businesses and other borrowers in Ghana. It will also enhance GTBank’s ability to provide competitively-priced dollar denominated facilities to customers in the country. The current agreement with FMO, an organisation that has been partnering with Guaranty Trust Bank (Ghana) Limited since its inception in 2006, again
As part of activities lined up by Access Bank to sustain the savings drive in its “Big Deal†Promo, the Bank embarked on a float-procession along the principal streets of Accra last Friday to sensitise potential customers and the general public about the on-going promotion. The float, which began from the Bank’s Ring Road Central branch in Accra, featured over 200 workers including some senior management staff who stepped out of their various offices and branches to participate in the exercise.
The Obuasi Mine of AngloGold Ashanti (AGA) has organised an education sensitisation programme, aimed at empowering former and current employees of the company to set up their own small-scale businesses to improve their livelihoods. The programme, dubbed the “Entrepreneurial Nightâ€Â, was organised in collaboration with the traditional authorities of Obuasi. The one-day event was attended by representatives from the National Board for Small Scale Industries (NBSSI), Technoserve Ghana, Ghana Chamber
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