BUSINESS

World Bank calls for review of Power Purchase Agreements

The World Bank is calling on the government to review some of the Power Purchase Agreements (PPAs) as part of the International Monetary Fund (IMF) bailout to revive the ailing economy. According to the bank, many of the PPAs that the government signed with Independent Power Producers (IPPs) are expensive. The Country …

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Ghana Trade Fair Centre to host US$300m mega data center

Africa Data Centres (ADC) will soon begin the construction of its strategic international data center as part of the Ghana Trade Fair Redevelopment Project. This serves as a major boost for Ghana in the Government’s push to make digitalisation a major economic growth pillar and employment pool for the youth. …

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Cedi faces pressure amid US debt ceiling negotiations

The local currency has experienced a reversal of its recent gains, losing 1.48 percent. It traded at GH¢10.98 to the United States (US) dollar at the end of last week. Initially, positive market sentiments prevailed and were attributed to approval of the US$3billion International Monetary Fund (IMF) bailout programme. However, an increase …

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Former finance minister Dr Joe Abbey is dead

Renowned Economist and former Minister of Finance and Economic Planning, Dr Joe Abbey has passed away after a short illness. According to a Joy Business report, the former Government Statistician and Diplomat passed away over the weekend. Until his demise, Dr. Joe Abbey was serving as the Executive Director of …

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PURC explains 18.36% electricity tariff increment after public uproar

Dr. Ismael Ackah, the executive secretary of the Public Utility Regulatory Commission (PURC), has provided details on how the Commission settled on an 18.6% tariff increment for the next quarter. He empathized and acknowledged the “current economic challenges”, but cited that although consumer satisfaction is the PURC’s top priority, it …

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UBA Ghana Celebrates Africa Day 

    United Bank for Africa Ghana (UBA Ghana) has marked this year’s Africa Union (AU) Day on May 25 with an array of initiatives.   The day which is set across the African continent is set aside to celebrate Africa’s unity in diversity and also highlights the cultural and …

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Gordon’s Pink Berry Spirit Drink Soiree Unites Trendsetters, Influencers, and Media in an Unforgettable Night of Music, Cocktails, and Good Vibes

    The Gordon’s Pink Berry Spirit Drink Soiree transcended the boundaries of an ordinary gathering, becoming a night of opulence, sophistication, and delightful pleasures. This exclusive event served as a magnet for trendsetters, influencers, and members of the media, bringing them together to revel in an unforgettable fusion of …

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U-Lionesses Gather for Brunch Time Connection

  U-Lionesses, ladies’ association of UBA Ghana gathered for a unique event dubbed “Brunch Time with U-Lionesses.” The event created the platform for the women to enjoy conversations, food, and exciting games. Welcoming the women to the brunch, Josephine Amo-Asare, President of U-Lionesses Ghana said the activity was aimed at …

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Benkum SHS Headmaster interdicted for allegedly having sex with 15 students

The Headteacher of Benkum Senior High School (SHS) in the Eastern Region has been interdicted after he was accused of engaging in sexual misconduct with students of his school, graphiconline.com reports. The Ghana Education Service (GES) took action against Emmanuel Nyarko pending investigations into his reported involvement with approximately 15 …

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Dilapidated structure collapses on pupils in Sehwi Wiawso

50 pupils have been affected following the collapse of a dilapidated Kramokrom D/A Primary school structure in the Sehwi Wiawso municipality of the Western North Region. The school authorities assisted pupils who were trapped in the building during the incident. 10 pupils were injured and rushed to the hospital for …

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UBA Ghana Wins Two Major Awards

Chris Ofikulu UBA Ghana has recently been recognised for its outstanding achievements by the International Business Magazine Awards, winning two awards. The bank was named winner for Preferred Banking Platform Ghana 2023 and Preferred Bank for Business Ghana 2023. International Business Magazine is a well-established platform that recognised exceptional achievements …

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Ghana’s public debt reduces to GH¢434.6 billion, 71% of GDP

Ghana’s public debt stood at GH¢434.6 billion as of December 2022 according to the Bank of Ghana’s Summary of Economic and Financial Data for April 2023. This is a reduction of GH¢141.1 billion in the country’s public debt. This represents 71.6% of the country’s Gross Domestic Product. This is a reduction …

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Free SHS policy is poorly targeted, only increased enrolment – IMF

International Monetary Fund (IMF) has criticised Ghana’s free Senior High School policy saying, although it has increased enrolment, it is poorly targeted. “Ghana spends close to 4 percent of GDP on education with good results in terms of enrolment but poor learning outcomes. The flagship programme Free Senior High School …

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Two babies die in hospital due to power outage in Damongo

Two babies have died as a result of a power outage at the St Anne’s Hospital which operates under the Catholic Health Directorate in Damango in the Savanna Region. The hospital had its power cut due to a debt amounting to GH¢4 million power debt owed to the Northern Electricity …

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