The Ghana Investment Fund for Electronic Communications (GIFEC) is to construct 80 rural telephony sites this year to help extend the coverage of wireless mobile telephone services to vulnerable communities nationwide. The Principal Programs Manager of GIFEC, Michael Agyei Takyi has said the project will help improve the communication coverage in the country. “The ultimate
Nineteen business associations have resolved to close down all their shops from Monday, February 29 to Wednesday, March 2, 2016 in protest against what they describe as “killer taxes” imposed by the government. The protest is also meant to put pressure on the government to review certain trade policies inimical to business. Following that, all
Ghana’s producer price inflation rose sharply to 16.3 percent in January from a revised figure of 11.0 percent the month before, pushed up mainly by an increase in petroleum prices, the statistics office said on Wednesday. The West African country is following a three-year International Monetary Fund aid programme to address macro-economic problems that include
Vice Chancellor of the University of Cape Coast (UCC), Professor Domwini Dabire Kuupole, has said there is the need to dissolve the Power and Energy Ministries and constitute a team of experts to solve our energy concerns. He said there was waste and duplication in the system, particularly in the creation of ministries, and tasked
The Government of Ghana and the European Union (EU), on Monday signed a financial agreement of Euro 31.6 million for the new Ghana Employment and Social Protection (GESP) Programme in Accra. The Programme would contribute to inclusive growth in Ghana by strengthening social protection and employment systems in the country. It also aims at enhancing
Government borrowed a total of GH¢4.63 billion from both local and foreign investors to finance its activities for January 2016. The loans were raised from Tenders 1467 held on 8th January, 2016 and issued on January 11, 2016; 1468 held on 15th January, 2016 for Government of Ghana securities and issued on 18th January, 2016;
In a surprise move, the Bank of Japan has introduced a negative interest rate. The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits. It is designed to encourage them to use their reserves to lend to businesses in an attempt to counter Japan’s economic stagnation.