The exchange rate between the naira the US dollar closed at N411.25/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar on Friday, having lost 55 kobo to close at N411.25/$1 compared to N410.7/$1 recorded on Thursday, 1st July 2021. The local currency fell at the official
Minister for Food and Agriculture, Dr Owusu Afriyie Akoto, has said the quality of Ghana’s cocoa is unmatched making China no competition in terms of cocoa exports to the international market. “Ghana’s cocoa in terms of quality is matchless to none globally, hence, the international market’s decision to pay up to 25 percent premium on
Ghana’s economy to continue strong growth despite lurking risks – BoG Governor tells investors Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said Ghana’s economy will continue to show strong growth despite risks posed by the Covid pandemic and its ability to derail the economic progress made so far by the country. Speaking to investors at
Debt repayment relief saves Kenya $912 million Kenya saved Sh99.73 billion in deferred repayments for its external debt for the year ended June following a deal with several rich nations, lifting pressure on its thin domestic revenue collection. Fresh Treasury data shows expenditure on servicing external loans amounted to Sh234.59 billion, a drop of 29.83 percent compared to Sh334.32
The demographic profiles of countries like Kenya, where a high percentage of people are young, would suggest that it’s swiftly renewing its workforce with fresh talent. But this doesn’t seem to be the case. We conducted a study in a public sector organisation three years ago. We found that the bureau had an ageing workforce.
The African Centre for Energy Policy (ACEP) has proposed for the abolishment of the three per cent withholding tax on gold grade. According to a study conducted by the think tank, the implementation of the levy has been unsuccessful. It comes on the heels of a report by the Precious Minerals Marketing Company revealing that
Government missed its target of Ghs 673 million for the 91-day and 181-day treasury bills auctioned on Friday, April 30, 2021. This would be the fourth consecutive week government has missed its targets for treasury bills auctions. Auctioning results published by the Bank of Ghana, indicate that government mobilized Ghs 573.22 million for both the
Debt reduction, restructuring, and transparency needed to help low-income countries overcome debt crisis. Governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages. While these measures were aimed at addressing the health emergency, cushioning the impact of the pandemic on the poor and vulnerable and putting countries on
Many countries are experiencing a combination of high public debt and low interest rates. This was already the case in advanced economies even prior to the pandemic but has become even starker in its aftermath. A growing number of emerging market and developing economies are likewise enjoying a period of negative real rates—the interest rate minus
The new kids on the oil block—Guyana, Suriname, and Ghana—have no plans to let their newly discovered oil wealth go to waste by joining global decarbonization efforts. They plan to exploit them as best as they can before they become worthless, Reuters has reported, citing statements by government officials made at this week’s Offshore Technology Conference in Houston.