Browsing: Economy and Finance

The decline in Ghana’s inward remittances has been validated by the Bank of Ghana that the newly licensed MTOs and 11 Fintech Companies have withheld approximately GH¢18 billion (US$ 3 billion) in 2022 and GH¢57 billion (US$ 5 billion) in 2023 at the expense of the country’s foreign currency reserves.

Last week, the Chamber of Cement Manufacturers, Ghana (COCMAG) raised strong objections to a proposed Legislative Instrument (LI) intended to regulate cement prices submitted to Parliament by the Minister of Trade and Industry, K.T. Hammond.

Ghana’s remittances receipts fell slightly last year, they were still the second highest in Africa, according to the World Bank’s 2024 Migration Development Report.

“This grant signing is a major milestone for amplifying the voices of Ghana’s most vulnerable groups, particularly women, in the climate change discourse,” said World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert R. Taliercio.

This initiative aims to improve the financial viability of electricity distribution and increase access to clean cooking solutions in Ghana.

PHDC officially signed a US$12 billion agreement with TCP-UIC Consortium last week. The Consortium comprises of Touchstone Capital Group Holdings Ltd.

Production dropped from a high of 71.44 million barrels in 2019 to 48.25 million barrels in 2023 representing an annual average decline of 9.2 percent.

The two-day workshop was to discuss the 2023 annual report to help the media be aware with the findings and recommendations on how Ghana’s petroleum revenue receipts are utilised.

Adesina outlined the resilience of Africa’s economies despite global challenges, noting that the continent remains the second-fastest-growing region after Asia.

“A central bank doesn’t work towards making a profit. Its aim or its mandate is actually to keep prices stable”, the podcast revealed.