The Electricity Company of Ghana (ECG) has clamped downon 1,859 illegal power meters being used by urban residential customers within the Accra East region from January to August this year. They are mostly meters which were deployed for the Self-Help Electrification Programme (SHEP), a community-driven electrification mechanism introduced in 1989 to drive electricity access in […]
Tag: Business and Finance
The government has set an ambitious agenda to restore macroeconomic stability and accelerate economic transformation under the Post-COVID-19 Programme for Economic Growth (PC-PEG). The Minister of Finance, Ken Ofori-Atta, who disclosed this in Accra yesterday, when he presented the 2023 Budget and Economic Policy to Parliament, said the seven-point agenda for economic transformation was hinged […]
The Government of Ghana is considering a debt operation to alleviate the pressures on the national budget and restore debt sustainability. This will open up financing streams and provide a needed balance of payment support from the International Monetary Fund. This was contained in a press statement issued by the Ministry of Finance on Thursday, […]
Tokardi — Indigenous Ghanaian companies in 2020 received service contracts valued at US$ 238 million out of the total of US$1.3 billion of service contracts awarded. Also, US$ 1.1 billion worth of service contracts went to joint ventures, which included Indigenous Ghanaian Companies (IGCs). Additionally, as at the end of the third quarter of 2021, […]
The Department of Social Development has called for accountability on the many cases of sexual violence and harassment that go unreported at sea in the maritime industry. The Department made the call on Friday during the inaugural Seminar on Gender-Based Violence led by the South African Maritime Safety Authority (SAMSA). According to research by Professor […]
Cape Town — French energy giant TotalEnergies is preparing to submit its final application for approval to drill up to five wells for oil or gas between Cape Town and Cape Agulhas, writes Liezl Human for GroundUp. The application is one in a rush of offshore oil and gas applications along South Africa’s coast. This is part of a wider […]
Over 140 delegates from five anglophone countries in West Africa are expected to attend this year’s Annual Educational Conference of the West African Insurance Companies Association (WAICA) in Monrovia. The Annual Educational Conference, the second of two WAICA Annual events, will be held from November 27-29 at the EJS Ministerial Complex in Congo Town, according […]
The Minister of State for Budget and National Planning, Prince Clem Agba, says in spite global and local shocks, the Federal Government has recorded growth in the economy. Agba said this at a sensitisation programme on the Nigerian Labour Force Survey (NLFS) and the Nigerian Living Standards Survey (NLSS) organised by the National Bureau of […]
A team of stakeholders including tour operators from Kenya is in Uganda for a five day familiarization trip to explore the Pear of Africa as both countries move to build synergies in promoting tourism. The trip will see engagements between the Kenya Association of Tour Operators and the Association of Uganda Tour Operators for joint […]
Finance Minister, Mthuli Ncube has ordered mining companies to pay 50% royalties through physical submission of the commodities in a move envisaged to strengthen exchange rate stability. Delivering the 2023 National Budget, Ncube said measures were enshrined under the Statutory Instrument 189/2022. “In order to boost national reserves and hence strengthen the economy’s resilience against […]
Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos, yesterday said the court will on February 13 hear the suit filed by some domestic airlines against the federal government, challenging the implementation of the agreement reached with Ethiopia Airlines on the operation of Nigeria Air. Justice Lewis-Allagoa fixed the date to enable all the […]
Her Majesty Queen Maxima of the Netherlands and United Nations secretary-general’s special advocate for inclusive finance for development has said managing economic shocks remains difficult due to large scale financial illiteracy in Nigeria, a challenge she said the revised financial inclusion strategy has the potential to address. She made the remarks at the ongoing International […]
The alleged rationing of the days of selling petrol among some petroleum products marketers who have formed cartels has worsened the petrol scarcity currently rocking Lagos, Abuja and other cities in the country, THISDAY learnt yesterday. THISDAY gathered that the marketing companies had through their umbrella associations allegedly put the secret rationing rule that ensures […]
Finance minister Sosten Gwengwe says the International Monetary Fund (IMF) has already wired the US$88.3 million (Around K91 billion) to the Reserve Bank of Malawi. The IMF Board approved US$88.3 million in emergency financing to Malawi through the Fund’s Food Shock Window under Rapid Credit Facility (RCF). Gwengwe told Parliament on Thursday that the money […]
The NBS said this growth rate declined from 4.03 per cent in the third quarter of 2021. Nigeria’s economy grew by 2.25 per cent in real terms in the third quarter of 2022, the National Bureau of Statistics has said. The Gross Domestic Product, which measures the size of the economy, expanded at a slower […]
Cape Town — Lindiwe Sisulu Disputes ANC Top 6 Nominations Tourism Minister Lindiwe Sisulu has lodged a dispute following the formal announcement of the ANC’s Top six nominations, eNCA reports. Sisulu herself put her name forward for nomination but didn’t get enough support. In a letter addressed to Electoral Committee chair Kgalema Motlanthe and Electoral Committee […]
Agricultural-related factories are dominating in special economic zones (SEZs) accounting for over 40 per cent of the total firms in the SEZs. The Export Zone Processing Authority (EPZA) told ‘Daily News’ yesterday that the agri-firms raging from farming equipment to product processors are currently 40 out of 97 companies which are at various SEZs countrywide. […]
THE first batch of vehicles manufactured for the government of Sierra Leone by Innoson Vehicle Manufacturing Ltd., IVM, has been delivered to the West African country by the Nnewi-based indigenous automaker. The vehicles, which arrived in Freetown on November 21, 2022, were built to order by Sierra Leone’s Ministry of Defence. The request for the […]