Edo modular refineryThe Bight of Benin is metaphorical of the economic exploit of the ancient empire before the greed of Europe vanquished the empire. Their visit and subsequent attack blighted the unequalled economic adventure of the ancient kingdom. Notwithstanding the European invasion and the epic battle for the economic soul of the empire, the modern
The Bank of Ghana’s (BoG) Special Drawing Rights (SDR) holdings with the International Monetary Fund (IMF) decreased by $16.6 million in 2020. IMF SDR holdings of the BoG at end-November 2020 stood at Ghs 242.39 million ($42.2 million), but then declined to Ghs 148 million ($25.6 million) at end-December 2020. BoG’s Ghs 148 million ($25.6
The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.
Kenya could register a small primary surplus in 2023-2024, the first in two decades, buoyed by an economic recovery after the coronavirus pandemic, according to the World Bank. The primary deficit, which excludes interest payments, could come in at 4.6% of gross domestic product in the fiscal year through June, and swing to a 0.3%
Morocco has unveiled a 15-year development model with aims that include establishing the country as a regional hub for higher education, research and innovation in order to attract students from the African continent and beyond. The model was presented to King Mohammed VI on 25 May. Elizabeth Buckner, assistant professor at the Ontario Institute for Studies in
Multilateral institution, the International Monetary Fund (IMF) says Ghana’s gross financing needs for the year 2020 exceeded 20 percent of its Gross Domestic Product (GDP). In monetary terms, that amounts to some $13.68 billion. Despite having a financing need of $13.68 billion mostly due to the advent of the Covid-19 pandemic, government was able to
Former Finance Minister, Seth Tekper, has dismissed assertions that the fiscal deficit to Gross Domestic Product (GDP) stood at 10.8% in 2016, insisting the Mahama administration actually left a budget deficit of 6.1% or 4.7%, depending on the accounting method used. According to Mr. Terkper, the Mahama administration did not leave very high levels of
The Economic Development Board of Mauritius has moved to assure South Africans with Mauritian trusts, in response to confusion and concern among its members and clients around the taxation of foreign investments in the island country. The EDB responded to an article published on BusinessTech entitled: “Bad news for South Africans with cash stashed in
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.
Last week, the latest Fiscal Monitor report from the International Monetary Fund, dated April 2021, generated headlines across Ghana for one reason – it put Ghana’s fiscal deficit for 2020 at 16.0 percent which is considerably higher than the 11.7 percent claimed by the Government of Ghana. Last week, the latest Fiscal Monitor report from