Energy think tank, the Institute for Energy Security (IES), has averred that the ongoing impasse between ENI Ghana Exploration and Production Limited – subsidiary of Italian oil major ENI – and Springfield Exploration and Production Limited, could prove costly for Ghana if not settled and allowed to end up in the International Court of Arbitration.
Nigeria received a sum of $2.78 billion as foreign inflows in the first half of 2021, representing a 61.1% decline compared to the $7.15 billion received in the corresponding period of 2020. This is contained in the capital importation report, recently released by the National Bureau of Statistics (NBS) for Q1 and Q2 2021. According to the report, foreign direct investments stood
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.
In the last decade inequality has been placed at the centre of the agenda for global social and economic policy. This has been driven in large part by the pioneering work of the British economist Sir Tony Atkinson, French economist Thomas Piketty’s Capital in the Twenty-First Century, and the work of sociologists like Goran Therborn. All of the key
Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), Duncan Amoah, has accused the National Petroleum Authority (NPA) of unilaterally adding some Ghs 0.17 pesewas to the already Parliament approved Ghs 0.30 pesewas tax charge on fuel price as contained in the 2021 budget statement. In statement issued by the Chamber on Friday, April
The African Finance Ministers and the World Bank Group met today to fast track vaccine acquisition on the continent and avoid a third wave.In a boost to the African Union’s target to vaccinate 60% of the continent’s population by 2022, the World Bank and the AU announced that they are partnering to support the Africa Vaccine
Ghana and its East African counterpart Rwanda, are looking to explore bilateral opportunities in business, tourism and other mutually beneficial economic prospects under African Continental Free Trade Agreement (AfCFTA). A trade delegation from Ghana in March this year, paid a visit to Rwanda to promote trade between the two countries with anticipating a collaboration between
Efforts to close loopholes exploited by multinational corporations (MNCs) to reduce their tax bills came to a head on June 4-5. At a meeting in London, G7 finance ministers agreed to commit to a global minimum tax of at least 15% on a country-by-country basis. Efforts to close loopholes exploited by multinational corporations (MNCs) to reduce
Ghana has been ranked the 73rd largest economy by the World Bank. The ranking is with respect to the country’s Gross Domestic Product (GDP) in 2019. According to the World Bank, Ghana’s economy stood at about $67 billion in size in 2019, making it the 8th biggest economy on the African continent. The country’s economy
Ghana has recorded the lowest year-on-year inflation since the emergence of the COVID-19 pandemic. The inflation rate recorded for the month of April 2021 was 8.5 percent, which is 1.8 percentage points lower than the 10.3 percent recorded in March this year. The figure falls within the medium-term inflation target of 8.0±2 percent. Before the