Business News
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Cedi’s recovery will be sustained – BoG boss
Governor of the Bank of Ghana (BoG) Dr Henry Wampah has downplayed fears that the cedi’s recovery will not be sustained. The cedi begun making some significant gains against major foreign currencies including the dollar, British pound and Euro two weeks ago after depreciating in excess of 25 percent this year.According to the Bank of Ghana the...[READ MORE]
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US$1.2 billion lost to tax incentives
A research by the Integrated Social Development Centre (ISODEC) and ActionAid Ghana has revealed that tax incentives granted in the 2013-14 government budget cost the nation about US$1.2billion -- or between 2-3 percent of GDP. The outcome of the study by the two organisations, which was delivered at a workshop on tax justice and illicit financial flows and their impact on...[READ MORE]
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Ghana's Oil production is to increase significatly
Ghana is targeting a six-fold increase in oil production by 2018, Finance Minister Seth Terkper said on May 20, adding he expected output to reach 242.3m barrels in 2018 from 39.1m barrels this year. Gas production is forecast to reach 37bn cu feet. The minister's comments follow statements from Alex Mould, the head of the Ghana National Petroleum Corporation (GNPC),...[READ MORE]
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US companies to increase their presence in Ghana
More US companies will be investing in Ghana in the coming months because of the International Monetary Fund (IMF) bailout programme the US Ambassador to Ghana, Gene Cretz has said.The new investments will also be as a result of the signs of economic recovery, he indicated. The companies are expected to invest in infrastructure, oil and gas, technology, and...[READ MORE]
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Ghana Gov. Accused of violating company act on the MMT
Corporate Governance Expert, Joe Aboagye Debrah says government’s failure to reconstitute the board for the Metro Mass Transit Company Limited is an infringement on the Company’s Act.He said government could have at least instituted a minimum of two people to sit on the board while issues concerning the missing buses were being...[READ MORE]
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ArcelorMittal Liberia Remains Committed to the Construction of the Ganta Yekepa Road
columnMonrovia — ArcelorMittal Liberia signed a contract in 2005 with the Liberian government (amended in 2006) in which the company promised to be a partner in Liberia’s growth and development.Since then, ArcelorMittal Liberia has not wavered on this promise, and has continued to be a trusted development partner, often going beyond the Mineral...[READ MORE]
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Ethiopia: A Strong Case for Investment in Sanitation
opinionBy Bjorn LomborgThere are plenty of things, which those of us lucky enough to live in the industrialised world take for granted; running water and flush toilets are among the most basic of these. 2.5 billion - almost half the developing world - lack even a basic latrine and one billion have to resort to what is politely known as open defecation. In...[READ MORE]
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Hewlett-Packard sells China unit stake for $2.3bn
US tech giant Hewlett-Packard is selling a 51% stake in its Chinese server business for $2.3bn (£1.4bn) to Tsinghua Holdings.The deal brings together HP with the investment arm of China's Tsinghua University in a joint venture called H3C, worth $4.5bn.The new firm is being touted as the leader in China for computer servers, storage and technology...[READ MORE]
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Africa’s defence spending boom
Africa’s defence spending boom The Cold War has been over for two decades and most of Africa's worst conflicts are at an end. Despite this, defence spending in Africa is rising once again.Across the continent, billions of dollars are being poured into armoured vehicles, flak jackets and logistics.Since the end of the Cold War, global military spending has...[READ MORE]
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SA companies not pulling out of Africa amid xeno threats
SA mining companies in Zimbabwe and several other Africa operations have not been...[READ MORE]
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