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Ghana uses 74% of petroleum revenue to service debt

An assessment of the management and use of Ghana’s Petroleum Revenues from 2011 to 2020 shows that the country in 10 years has spent 74 per cent of withdrawals made from the Ghana Stabilisation Fund (GSF) on debt repayment. The amount totaling $1.39 billion was withdrawn from the Fund, which …

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Africa must find solutions to African problems – Diop (Part 1)

We bring you the first part of an exclusive interview with Ms Ngone Diop, the Director of the Economic Commission for Africa, Sub-Regional Office for West Africa in which she delves into the opportunities and challenges of Africa and how to address the demands for transformational change. This first part …

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Cedi’s poor performance to push fuel prices up by 4% – IES

A continuous depreciation of the Ghana cedi against the US dollar is likely to drive prices of petroleum products upwards by at least 4 per cent this week, the Institute for Energy Security (IES) has projected. The Institute said the recent hikes in prices of petroleum products was largely due …

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Africa aims at building forward better at 8th ARFSD

If anyone knows very well what time it is, Africans do, particularly with the devastating effects of the COVID-19 pandemic, slowing down economic growth, rising debt levels and rising inflation. It is time for the continent with a market of 1.2 billion people and a combined Gross Domestic Product of …

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African governments urged to invest in infrastructure, manufacturing for AfCFTA implementation

Heads of States in African have been urged to work at providing the needed transport infrastructure to engender connectivity to fast-track the implementation of the free trade agreement. They have also been asked to expedite investment into manufacturing of products through the identification and value addition to raw materials and …

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Oxygen supply situation nearing dangerous point in Ukraine – WHO

Dr Tedros Adhanom Ghebreyesus, the Director-General of the World Health Organisation (WHO), and Dr Hans Henri P. Kluge, the WHO Regional Director for Europe, are warning that due to the crisis in Ukraine, there is a dangerously low medical oxygen supplies in that country. A statement from the WHO copied to …

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Ghana is missing out on international gold trade – UK Trade Envoy

Baroness Catherine Hoey, UK Prime Minister’s Trade Envoy to Ghana, says the lack of international certification in gold trade is making it difficult for countries to directly buy gold from Ghana. She said the UK had interest in buying gold directly from Ghana but the country could not do so …

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CHRAJ directs AB Adjei to refund more than GH¢5m to the State

The Commission on Human Rights and Administrative Justice (CHRAJ) has directed the sacked CEO of the Public Procurement Authority, Adjenim-Boateng Adjei to refund an amount of GH¢5,697,530.00 (less GH¢86,000.00) to the state within six months. The decision by the CHRAJ is due to the unexplained wealth deposited in his account. …

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I didn’t take GH¢200m out of Capital Bank’s GH¢620m liquidity support – Essien

William Ato Essien, the former Chief Executive Officer of the defunct Capital Bank has denied taking GH¢200 million dishonestly out of the GH¢620 million liquidity support that was given to Capital Bank. Essien explained that he was not a management member of the bank, not a signatory, and not part …

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