BUSINESS

The Government of Ghana has received an advance payment of US$1.3 million out of a US$50 million agreement with the World Bank’s Forest C arbon Partnership Facility for results-based payments for reducing emissions from deforestation and forest degradation (known as REDD+). The provision of this advance payment was included in …

Daniel Titus-Glover, Member of Parliament for Tema East, has appealed to the Ghana Ports and Harbours Authority (GPHA) to reopen the fish market at the Tema Fishing harbour. The fish market was among a number of markets in Tema that were shut down as a measure to curb the spread …

Ghana and Côte d’Ivoire, the top world cocoa producers, through a joint initiative have convinced chocolate traders and makers to increase the price they pay for cocoa. These cocoa producing countries suspended the forward sales of cocoa beans which had a negative impact on global prices that, in less than …

Ghana lured investors to its power industry to end chronic electricity shortages with deals it can no longer afford. The deals’ terms require the government to pay for electricity generated even if there’s no demand for it. The move helped Ghana end its power crisis by 2016, boosting its generation …

A total of 74,000 validated customers of defunct DKM Microfinance have fully been paid by the receiver, with 13,857 outstanding. President Nana Addo Dankwa Akufo-Addo who announced this assured that all outstanding customers would be fully paid latest by the end of September this year. He said the outstanding amount due to …

The Second Quarter Business Condition Report by the Sekondi Takoradi Chamber of Commerce and Industry (STCCI) reveals that businesses seem to be in worst situations than previously. Speaking to Ghone Business News after the presentation of the Quarter 2 report in Takoradi, the deputy chief executive officer of STCCI, Benjamin …

The year-on-year inflation rate fell to 10.5 percent in August, a 0.9 percentage points lower than 11.4 percent recorded in July 2020. The monthly change rate for August 2020 is -0.4. “Total month-on-month inflation is negative because it is pulled down by negative Food inflation (-1.1 percent) and negative inflation …

The Akufo-Addo government has indebted Ghana’s cocoa trees to the tune of $600 million, opposition lawmaker Eric Opoku has said. The Asunafo South Constituency MP told Accra-based Asempa FM that: “For the first time in the history of cocoa in Ghana, the NPP government has used Ghana’s cocoa to go …

Merrill Lynch, one of the key advisers on the Agyapa deal, has shockingly projected higher gold prices by 2022, thus underscoring the need for Ghanaians to know how the valuation of the royalties was done by the Akufo-Addo government for the Agyapa deal and the danger of undervaluation. This means …

One of the country’s strategic assets, the Tema Oil Refinery (TOR) is about to be handed over to a phony company under some bizarre circumstances by its management and board of directors led by Francis Adu Tutu Boateng and Robert Nachinab Doameng Mosore. Insiders have informed The Herald that some …