Economy
Stories in this category
Finance Minister Inaugurates National Asset Management Working Committee
The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a National Asset Management Working Committee, tasked with the responsibility of identifying, accounting for, and managing Ghana’s vast portfolio of public assets. Speaking at the inaugural ceremony in Accra, Dr. Forson lamented the absence of a comprehensive State Assets Register, describing it as a critical […]
Dr. Zaato Slams Mahama Administration for Double Standards
A Political Science lecturer at the University of Ghana, Dr. Joshua Jebuntie Zaato, has taken a swipe at the Mahama administration for what he termed a “lack of consistency” in how it presents Ghana’s economic condition to different audiences. Speaking on TV3’s Key Points program on Saturday, July 26, Dr. Zaato observed a stark contradiction […]
Ghana’s International Reserves Hit Record US$11 Billion
Ghana’s gross international reserves have climbed to an unprecedented US$11 billion in the first six months of 2025, far exceeding the International Monetary Fund’s target of US$493 million for the period. According to the Bank of Ghana, the country’s gold holdings also surged, rising from 8.8 tonnes in mid-2023 to nearly 33 tonnes by June […]
Ghana’s Economy Hits 6-Year High with 7.2% Growth in Q3 2024
Ghana’s economy has recorded its highest growth rate in six years, with provisional GDP data from the Ghana Statistical Service (GSS) showing a 7.2% year-on-year increase in the third quarter of 2024. This marks a significant improvement from the 2.2% recorded in Q3 2023, underscoring a strong recovery trajectory and renewed economic confidence. Real GDP […]
Varun Beverages Expands with $15.1M Acquisition of Pepsi in Ghana
Indian multinational Varun Beverages, spearheaded by billionaire Ravi Jaipuria, has taken a significant step in expanding its African market presence by acquiring PepsiCo’s bottling operations in Ghana for $15.1 million. The deal is part of a broader $169.6 million transaction, which also encompasses PepsiCo’s bottling facilities in Tanzania. This dual acquisition marks a strategic move […]
President Akufo-Addo to Commission Flower Pot Interchange
President Akufo-Addo is set to commission the recently completed Flower Pot Interchange in Accra on November 19, 2024, a significant infrastructure milestone designed to improve traffic flow in the capital. The announcement came from Eugene Arhin, Communications Director at the Presidency, who emphasized the project’s role in enhancing mobility along key transit routes. The Flower […]
Cocoa Farmers See Price Boost as COCOBOD Raises Producer Price
In a significant move to bolster the livelihoods of cocoa farmers across the country, the Ghana Cocoa Board (COCOBOD) has officially raised the producer price of cocoa from GHs 48,000.00 to GHs 49,600.00 per tonne. Effective from Friday, 8 November 2024, the increase also adjusts the price per 64kg bag from GHs 3,000.00 to GHs […]
AMA Supports Climate Acts LBG with Funding for Waste Separation Project in Jamestown
The Accra Metropolitan Assembly (AMA) has reaffirmed its commitment to environmental sustainability by awarding funding to Climate Acts LBG, a youth led climate organization for its Municipal Solid Waste (MSW) Source Separation project in Jamestown. The initiative is part of efforts by the assembly to empower young people through the Accra Youth Climate Action Fund […]
Government Tackles Kayayei Phenomenon through Vocational Training
To alleviate the challenges faced by young girls in the Kayayei phenomenon, the Government of Ghana has launched a proactive strategy focusing on the provision of residential vocational and skills training facilities. These facilities are set to play a pivotal role in reshaping the prospects of Kayayei, offering a pathway towards sustainable livelihoods outside their […]
Deteriorating Cellular Network Quality in Ghana: A Call for Regulatory Action
The state of the cellular network in Ghana has been a growing concern for citizens over the past decade. In the last ten years, the number of network operators has shrunk from six to three, consisting of the privately owned MTN and the government-controlled Vodafone and AirtelTigo. Recent news of a private investor potentially taking […]
Financial institutions consent to Cocoa Bills rollover
Following a meeting with them and the Ghana Cocoa Board, the Bank of Ghana has stated that local financial institutions have consented to roll over their investments in cocoa bills. The central bank said that a six-month Cocoa bill having a face value of GH940.42 million matured on Thursday, January 19. In order to raise […]