The government is making a concerted effort to enhance its appeal as a preferred base for Chinese businesses on the African continent, Finance Minister Ken Ofori-Atta has said. He made this known during an engagement with the Chinese Business Community in Ghana under the Ghana Mutual Prosperity Partnership held in Accra. “We want to use […] The post Gov’t
Deputy Finance Minister Dr. John Kumah has asserted that Ghana’s economy has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians. In a Facebook post dated January 19, Dr Kumah highlighted the unanimous approval of Ghana’s request for debt treatment under the G-20 Common Framework. This, he believes, forms the foundation for […] The post We’ve
In a speech delivered at the Timbuktoo: Unleashing Africa’s Startup Revolution event in Davos, Switzerland, President Nana Addo Dankwa Akufo-Addo highlighted the impressive recovery and resilience displayed by African Read More... The post Ghana
Ghana is on the brink of progress, and it’s time to embrace new ways of doing things. A 24-hour economy is not just a concept; it’s an opportunity to unlock Ghana’s full potential. It’s a commitment to expanding productivity and prosperity beyond daylight hours. Imagine a Ghana where businesses operate around the clock, creating more […] The post The vision
The Member of Parliament for the Akim Abuakwa South constituency, Samuel Atta Akyea, has criticized individuals who blame Vice President Dr. Mahamudu Bawumia for the country’s economic woes. He acknowledged that the economy is not in its best form, describing it as ‘unkind’ and ‘cruel’ for anyone to attribute economic issues in the Akufo-Addo government […] The post It’s
The government is urgently seeking to build on the momentum of its debt restructuring efforts, following the recent agreement with official creditors to restructure debts extended to the country up until December 2022. Having overcome this hurdle, Reuters reports that government officials will re-engage with its international bondholders from next week, seeking to continue discussions […] The post
The Member of Parliament for the Akim Abuakwa South constituency, Samuel Atta Akyea, has criticized individuals who blame Vice President Dr. Mahamudu Bawumia for the country’s economic woes. He acknowledged that the economy is not in its best form, describing it as ‘unkind’ and ‘cruel’ for anyone to attribute economic issues in the Akufo-Addo government […] The post It’s
The World Bank Deputy Chief Economist, Ayhan Kose, has said the global economy has been remarkably resilient, especially in the last year. Growth last year, he said, surprised on the upside, thanks to the US economy, the strength of the US economy. But, he further noted, some large emerging markets like India, Indonesia, Brazil, Mexico, […] The post There is global economic resilience
There was almost no growth in terms of global trade last year, the World Bank Deputy Chief Economist, Ayhan Kose, has said. The situation remains fragile going into this year, he added. In June 2023, he highlighted an ongoing global growth slowdown as a major concern to the Bank. Asked for the latest analysis of […] The post Global trade remains fragile – World Bank Deputy Chief
With misfortunes of the early 2020s finding their way into 2023, it is not uncommon for people to predict continued economic hardship in the new year of 2024. Two weeks into the new year and the Gaza Strip war has already escalated to epic proportions. Thus, it is not strange to expect doom on the […] The post Trade expert predicts
Fiscal space, in its simplest form, is the capacity of governments to adjust their revenue and expenditure policies to overcome economic shocks and foster growth. It is a precarious balance between short-term responsiveness and long-term prudence. It is essential to realise that fiscal space is not an abstract concept. It is tangible and can be created through […] The post
Consumer inflation eased further in December 2023 – closing at 23.2 percent, down from November’s 26.4 percent per data from the Ghana Statistical Service (GSS). This 3.2 percentage point decline aligns with forecasts, providing relief from the previously higher and persistent inflation. Cumulatively, inflation dropped 30.4 percent during 2023 while average inflation was 39.91 percent. […] The post
President Nana Addo Dankwa Akufo-Addo has declared that after three years of economic turmoil, Ghana is finally turning the corner. In a Christmas message to Ghanaians, the President conveyed his satisfaction that the country has successfully navigated the difficulties faced not only by Ghana but by the entire world. He highlighted positive indicators of economic […] The post After
The former president of Ghana and the flag bearer of the National Democratic Congress (NDC), Mr. John Dramani Mahama, recently announced his intention to run a 24-hour economy if elected president. This proposal has generated a lot of economic and political discourse on electronic and print media in Ghana and beyond on its realism and […] The post A 24-hour economy:
In September 2023, Ghana’s government launched a US$550billion Energy Transition and Investment roadmap toward achieving net-zero carbon emissions. The plan has capacity to create an estimated 400,000 jobs by 2060, according to details of its plan – which was developed by government and SEforALL. The plan was launched by President Nana Akufo-Addo during a Global […] The post Energy
An economist and financial analyst at the University of Ghana, Dr. Patrick Asuming, has urged the government to, as a matter of urgency, focus on building the economy more sustainably and not be fascinated by transient positive indicators. This follows the Finance Minister, Ken Ofori-Atta’s attribution of the consistent decline in inflation to the government’s […] The post Current
Oxford Business Group (OBG) and Koranteng & Koranteng Legal Advisors have formalised a strategic collaboration aimed at unveiling a comprehensive insight into Ghana’s legal framework in The Report: Ghana 2024. This partnership signifies a concerted effort to provide investors, policy-makers and businesses with essential insights into Ghana’s evolving legal landscape. Ghana faced economic challenges in […] The post
Introduction In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance presented the budget statement on behalf of the President on Wednesday, 15th November 2023. The 2024 budget is critical for the country as it tries to navigate the desire […] The post The 2024 budget and
Despite recent progress on restructuring the country’s debt, short-term interest rates exceeding 30 percent are undermining the savings achieved according to Leslie Dwight Mensah, an economist at the Institute for Fiscal Studies (IFS). With domestic markets as the sole financing source, he said, government remains vulnerable. “If stronger fiscal consolidation isn’t achieved, including on the […] The post
My favourite definition of economics is that by Lionel Robbins. According to Robbins, economics is “a science that studies human behaviour as a relationship between ends and scarce means that have alternative uses”. Microeconomics on the other hand relates to the study of choices made by individuals and households (consumers) or firms (producers) with respect […] The post Economics
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