The University Teachers Association of Ghana, University of Ghana Branch (UTAG-UG), is calling on Parliament to rigorously scrutinize the lithium deal between Ghana and Barari DV Ghana Limited when it is laid before the House for ratification. Civil society organizations and other bodies have been calling on the government to take a second look at...
Category: Business
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Rice value chain receives $6.1m investment boost from Mastercard, MiDA
The MasterCard Foundation and the Millennium Development Authority (MiDA) have sealed a $6.1 million deal to transform the country’s rice value chain. This significant collaboration aims to revolutionize Ghana’s rice sector through the implementation of the Harnessing Agricultural Productivity and Prosperity for Youth (HAPPY) Program. Minister of Finance, Ken Ofori-Atta in his remarks highlighted the...
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The Lithium contract needs clarity – IMANI
IMANI Africa has said about the lithium deal that there is nothing in the way the contract has been drafted that will increase the odds of lithium refining happening in Ghana in a way that will boost value addition, quality jobs, public revenues, and local businesses. In the view of IMANI Africa, said the current drafting simply says...
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Group demands removal of GRA boss
A group calling itself Concerned Citizens of Ghana is threatening to picket at the premises of the Ghana Revenue Authority (GRA) on January 15, 2024, over the continuous stay of the Commissioner-General, Rev. Dr. Ammishaddai Owusu-Amoah in office. The group contends that the GRA boss has gone beyond the legal age required for a...
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IMF to help Ghana deal with corruption
Citi News has gathered that the International Monetary Fund (IMF) has received Ghana’s request for technical assistance to deal with corruption. Ghana’s move is in line with its commitments under the $3 billion IMF programme which Ghana is expected to receive a second tranche of $600 million in November this year. The $3 billion IMF programme...
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Ghana’s 3% economic growth an indication of a resilient economy – IMF Mission Chief
Stéphane Roudet, the International Monetary Fund’s (IMF) Mission Chief for Ghana, has lauded Ghana’s economic growth. In an interview on The Point of View on Citi TV, Mr. Roudet intimated that Ghana’s quick economic recovery is surprising and also encouraging, as the country has outperformed the IMF’s projection for the year 2023. He indicated that the IMF had...
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Akufo-Addo has assented to the 3 new taxes – Oppong Nkrumah
President Nana Addo Dankwa Akufo-Addo has assented into law the three new taxes passed by Parliament in March 2023. This was confirmed by Information Minister, Kojo Oppong Nkrumah in an interview with Citi News. Parliament on Friday, March 31, passed the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue...
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Fuel prices go up; currently selling at over GH¢13 per litre
Fuel prices have seen a marginal increase at the pumps as a litre of petrol which sold at GH¢12.65 is now selling at GH¢13.20 while diesel which retailed at GH¢12.84 is also selling at GH₵13.20. The upward adjustment has been attributed to the increase in the price of crude which has gone up by about...
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Ghana to get IMF bailout by May – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has revealed that Ghana is likely to receive the International Monetary Fund’s (IMF) Board approval for a $3 billion bailout by the close of May 2023. Mr Ofori Atta speaking to Eurobond holders at an Investors Presentation Forum said Ghana has made significant progress in terms of restructuring its debt...
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Ghana’s fiscal deficit to end 2023 at 7.3% of GDP – IMF
The International Monetary Fund is projecting a marginal reduction in Ghana’s fiscal deficit to Gross Domestic Product (GDP) of 7.3% in 2023, from the 9.9% recorded in 2022. This is coming despite a significant cut in government expenditure and expected improvement in revenue. According to its April 2023 Fiscal Monitor Report, the fiscal deficit will...