BUSINESS

The Africa Centre for Energy Policy (ACEP) has expressed concerns about the ongoing accumulation of substantial debt within Ghana’s energy sector, highlighting that the country is accumulating approximately $67 million each month in unpaid obligations. This rising debt, according to ACEP, is largely a result of the low revenue recovery rate of the Electricity Company of Ghana (ECG), which it ...

The Minister of Communications and Digitalisation Ursula Owusu-Ekuful has announced that all is set for the 5G service to be rolled out from November 1, 2024. The Minister disclosed this during an interview on Peace FM’s Kokrokoo Show with Kwami Sefa Kayi on Wednesday October 2, 2024. Mrs. Owusu-Ekuful noted that the necessary structures have been put in place for ...

Policy Lead for Petroleum and Conventional Energy at the Africa Centre for Energy Policy (ACEP), Kodzo Yaotse, has warned of the growing financial burden posed by Ghana’s legacy debt to Independent Power Producers (IPPs), which threatens the stability of the country’s power sector. Speaking at a media capacity-building workshop in Kumasi, Yaotse detailed how accumulated debts, poor revenue collection, and ...

The Importers and Exporters Association of Ghana has raised alarm over the potential threat posed by illegal mining activities to the country’s agricultural exports. The association warns that if the issue of illegal mining, commonly referred to as galamsey is not urgently addressed, Ghana may face significant challenges in selling its exported food products on the international market, particularly in ...

Ghana’s Minerals Commission has awarded Atlantic Lithium a mine operating permit for its flagship Ewoyaa Lithium Project in Ghana’s Central Region. This permit represents the final regulatory approval needed before the company can begin construction of the project, which includes both the Ewoyaa lithium and the processing plant. Mr Neil Herbert, executive chairman of Atlantic Lithium, described the permit’s issuance ...

Flagbearer of the New Patriotic Party (NPP) Vice President Dr Mahamudu Bawumia has said that the Akufo-Addo administration has successfully made digitization a central pillar of our economic strategy. He called on Ghanaians to embrace the Fourth industrial revolution which is digitalisation. Dr Bawumia said these when he was speaking at the launch of the CitizenApp in Accra on Monday, ...

Inflation for September 2024 has climbed to 21.5%, up from 20.4% recorded in August, largely due to a surge in food prices. Food inflation rose sharply to 22.1% from August’s 19.1%, reversing a five-month downward trend. In contrast, non-food inflation saw a slight decrease, falling to 20.9% from 21.5% in the previous month. Announcing the latest figures, Government Statistician Samuel ...

In a groundbreaking move, the Presidential Candidate of the ruling New Patriotic Party, NPP, Dr Mahamudu Bawumia has announced the imminent arrival of electric buses to support Ghana’s public transportation system. This innovative initiative promises to slash public transport fares by approximately 40%, providing relief to millions of commuters nationwide. A Long-Awaited Solution Ghana’s public transportation sector has long been ...

The Cocoa & Forests Initiative (CFI), the largest and first sector-wide public-private partnership in the cocoa industry, has released its latest annual report. The report said in 2023, CFI made significant strides in traceability systems, forest conservation and climate adaptation. The report noted that despite it being a challenging year marked by erratic weather patterns, an increase in pests and ...

The Ghana Manganese Company (GMC) is beginning the construction of a new manganese refinery in November 2024. The project, aimed at upgrading the current low-grade carbonate manganese into a higher-value product, is part of a $450 million investment, with the first phase expected to cost $240 million. This initial phase, projected to be completed within 24 months, will include the ...