Why Achimota Forest Reserve is trending on social media

Achimota Forest | credit: kuulpeeps The Achimota Forest Reserve has been trending on social media, especially Twitter and Facebook, since midday. This follows reports that government has through an Executive Instrument (E.I), said the very popular reserve is no longer a forest reserve. Details of the E.I signed by the Lands and Natural Resources Minister, …

International Trade Center pledges support for the success of AfCFTA – Citi Business News

The Executive Director of Geneva based International Trade Center (ITC), Pamela Coke-Hamilton, has pledged the center’s support for the success of the African Continental Free Trade Area (AfCFTA). The African Continental Free Trade Area has come as the largest market in the world, with an estimated market of about three trillion dollars. This continent-wide pack …

Seth Terkper urges Gov’t to present its policy alternative to an IMF program – Citi Business News

Former Finance Minister, Seth Terkper has urged government to come out with alternative policies and programs that will support Ghana’s ailing economy, since it insists on not going to the International Monetary Fund (IMF) for support. Finance Minister, Ken Ofori-Atta, last week reiterated government’s stance on not seeking a bailout from the IMF, saying government …

A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR – Citi Business News

As food inflation in the country continues to rise, further pushing national inflation to unprecedented levels, the Council for Scientific and Industrial Research (CSIR) is urging government to invest in a comprehensive storage strategy to deal with post-harvest losses in the country. This the CSIR believes will eventually make food available all-year round which will …

The seven factors driving high cost of living in Ghana – Citi Business News

The average Ghanaian does not need an economics degree to know the economy is going through a very rough patch. They feel it on their commute to work and when shopping for foodstuffs. The Ghana Statistical Service’s figures noted that the continuous increase in food and transport prices across the country has pushed the national …

Over 120,000 persons reimbursed for wrongful e-levy deductions – GRA – Citi Business News

After the initial challenges that fraught the first few days of the implementation of the electronic transfer levy, over 120,000 customers have so far been reimbursed for wrongful deductions. Head of Project Management Unit at the Ghana Revenue Authority Isaac Kobina Amoako stated that “The data we had for those who had a refund on …

NPA allays fears of fuel scarcity in the country – Citi Business News

Despite the earlier scare of a likely scarcity of fuel in the country, the National Petroleum Authority is confident that there is enough of the commodity in Ghana. Head of Economic Regulation at the National Petroleum Authority, Abass Ibrahim Tasunti reassured the public that there was sufficient fuel in the country and hence no need …

ECG owes us $900m as of quarter 1, 2022 – Chamber of IPPs

Electricity Company of Ghana (ECG) As of the end of the first quarter of this year, the Electricity Company of Ghana (ECG) Limited owed the Independent Power Producers $900 million in power supply invoices. According to the Chief Executive of the Chamber of IPPs, Distributors and Bulk Consumers, Elipklim Apetorgbor, ECG does not have any …

Dangote seeks to raise $1.1bn to complete refinery project

Aliko Dangote A Fitch report alleges that the Nigerian billionaire requires an additional $1.1 billion to complete the refinery but has invested all his cash and even borrowed to finance the refinery project. According to the report, the Dangote refinery project is still on track to be completed by 2023 and requires an additional $1.1 billion capex …

Samuel Dubik Mahama appointed ECG Managing Director – Citi Business News

President Akufo-Addo has appointed Samuel Dubik Masubir Mahama as Managing Director of the Electricity Company of Ghana (ECG). He is expected to take over from Kwame Agyeman–Budu who is expected to step down onTuesday, May 17, 2022. Agyeman-Budu was appointed as the managing director of Electricity Company of Ghana, on 3 November 2019. He took …

New policy to ensure direct delivery of fuel products underway – NPA – Citi Business News

Government is currently implementing a new policy to ensure the direct delivery of fuel products to the country’s ports without bulk distributors. The policy, which differs from the previous arrangement where BDCs dealt directly with international oil companies is meant to prevent any instances of fuel shortage in the wake of the Russian-Ukraine war that …

Prices of petrol, diesel ad LPG to go up significantly – IES

Barring any intervention from government, prices of petrol, diesel and Liquefied Petroleum Gas (LPG) may still see an upward adjustment, beginning today May 17th, 2022, the Institute for Energy Security has revealed. According to the energy think tank, the upward revision of petrol, diesel and LPG prices may be significant, on the back of rising …