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Economic transformation requires investment in key sectors of economy – Deputy Governor

Dr Maxwell Opoku-Afari, the First Deputy Governor Bank of Ghana, says economic diversification and transformation will require significant investments in infrastructure such as energy, transportation, telecommunications oil and gas as well as mining and tourism. These investments, he stated, would be critical to boost the much needed inclusive growth, drive …

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Ghana records $874m of inbound investments in first half of the year

Ghana recorded $874.01 million worth of investments from 122 projects in the first half of 2021 despite the COVID-19 pandemic, an indication of the country’s attractiveness as an investment destination. Of the total investment of $874.01 million, the Foreign Direct Investment (FDI) component amounted to $829.29 million while the local …

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IFC to invest $3m to improve access to medical diagnostics in Ghana

The International Finance Corporation (IFC) has signed a partnership agreement with South African radiology specialist Bergman, Ross and Partners Incorporated (BRP) to increase access to world-class medical diagnostic services in Ghana. Under the partnership, IFC would invest roughly $3 million in Quest Medical Imaging (QMI) to build new medical diagnostic …

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Ghana Stock Exchange records GH¢23.4m net profit despite COVID-19

The Ghana Stock Exchange (GSE) posted solid financial performance in 2020 despite the devastating effects of COVID-19 that disrupted many economies around the world. The Exchange recorded a net profit of GH¢23.46 million, the highest in the history of the Exchange, compared to GH¢8.43 million in 2019. The Chairman of the …

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Ecobank Ghana presents dividend of GH¢28.8m to SSNIT

Ecobank Ghana, one of the investments of the Social Security and National Insurance Trust (SSNIT), has presented a dividend of GH¢28.8 million for the year 2020 to the Trust. This represents an increase of 83 per cent over the 2019 dividend payment of GH¢15.7 million. Mr. Daniel Sackey, the Managing …

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Investments in gold exploration in Africa fell to $590m in 2020

Ghana needs to attract more investments into mining exploration not to lose out on its leadership position in the industry on the African continent. Mr Eric Asubonteng, the President of the Ghana Chamber of Mines, said dwindling investment in exploration in the country’s mining sector could take away the lead …

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ECA dialogue on implementation of AfCFTA

The Sub-Regional Office for West Africa of the Economic Commission for Africa (ECA/SRO-WA) has partnered with the West African Monetary and Economic Union (UEMOA) and the Economic Community of West African States (ECOWAS) Commission to discuss the state of implementation of the African Continental Free Trade Area (AfCFTA) and how …

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US government food security strategy for Ghana expected to attract $261m investments

The first activity of a new US government food security strategy for Ghana is expected to attract private sector financing of about $261 million to enhance agribusiness in the country. According to the US Embassy in Accra, the US Global Food Security Strategy for Ghana (GFSS) is a five-year, interagency …

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IFC and SEC to develop green bonds market

The International Finance Corporation (IFC) and Securities and Exchange Commission (SEC) have announced partnership to facilitate investments in projects which address climate and environmental issues through green bonds. Under the agreement, IFC, a member of the World Bank Group, will help the SEC develop guidelines for issuers and investors for …

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Gold futures settle modestly higher

Gold prices moved higher on Tuesday, rebounding from early losses, after the yield on US Treasury notes fell after an early uptick. Gold futures slid early on in the session as US Treasury yields rose as investors awaited the outcome of auctions set to be held for $34 billion of …

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