Ghana’s economy is rebounding faster from pandemic impact, says Akufo-Addo

Ghana’s economy is rebounding faster from the impact of COVID-19 than envisioned, according to President Nana Akufo-Addo. Like many countries globally, the West African nation’s economy took a hit through 2020 as COVID-19 ravaged the world, shutting down businesses, industries, prompted by government-imposed lockdowns. “After recording negative growth in the second and third quarters... Read More

US to ship 2 million Moderna vaccine to Kenya, Ghana

The United States will begin shipping more than 2 million doses of Moderna’s COVID-19 vaccine to Kenya and Ghana this week through the COVAX global distribution program, a White House official said. The United States is sending 880,460 doses to Kenya and 1,229,620 doses to Ghana, the official said, the latest installments in a U.S.... Read More

Ghana’s Cedi Heads for Weakest-Ever Close against Dollar

The biggest injection of dollars yet by Ghana’s central bank failed to stem the cedi’s slide on Wednesday amid a surge in foreign-currency demand from importers. The Ghanaian currency dropped 1.6 percent to 6.03 a dollar by 11:52 a.m. in Accra, poised for the weakest close on record. That erased the 1.4 percent gain... Read More

With #FixTheCountry, Ghana youth protests against unemployment, hardship

Ghanaians kicked off a series of planned protests aimed at pressuring President Nana Akufo-Addo’s administration to do more to create jobs for the youth, improve health-care and education standards, and bring down living costs. Hundreds of Ghanaians, mainly young people converged at the Obra Spot at Kwame Nkrumah interchange, Accra, for #FixTheCountry demonstration. The... Read More

Analysts see Nigeria, Ghana and Kenya hold interest rate as pandemic ravages

As monetarists at the Central Bank of Nigeria (CBN) and other central banks in sub-Saharan African meet this week, analysts expect them to keep interest rates on hold as the region’s recovery lags the rest of the world due to much slower COVID-19 vaccination rollouts, a Reuters poll found on Monday. In a poll... Read More

IMF projects 4.7% economic rebounds for Ghana in 2021

The International Monetary Fund (IMF) has lauded Ghana for exiting the Financial Action Task Force’s (FATF’s) anti-money laundering (AML) and counter-terrorism financing (CTF) list. Ghana was taken off the FATF’s “grey list” in June this year. The country was added to the FATF’s “grey list” in February last year after the global watchdog found... Read More

Ghana destroys 4,500 chickens, bans poultry imports after outbreak of avian flu

Ghana has destroyed 4,500 chickens and restricted the movement of poultry after nearly 6,000 birds were found to have died of the highly pathogenic H5N1 avian flu, the country’s veterinary services director said on Saturday. The birds originated from seven farms in Ghana’s greater Accra, Central and Volta regions, and poultry movement from those... Read More

Ghana to raise $2 bln in first social bonds to refinance debt, funds projects

Ghana is planning to issue green and social bonds of up to $2 billion by November, which would make it the first African country to sell debt to fund development programs. The West African second-biggest economy, which is planning to borrow up to $5 billion on international markets this year, would use the proceeds from these sustainable bonds... Read More

Ghana expects bumper Cocoa harvest as Favourable Weather seen boosting output

Ghana is heading for a record cocoa harvest after favorable weather and government interventions boosted output in the No. two producers, according to two people familiar with the matter. The Ghana Cocoa Board has revised its production target to 1.1 million tons for the season that ends in September, the people said, asking not... Read More

Ghana cocoa board raises more debt after more than projected harvest

Ghana’s biggest cocoa harvest in a decade is spurring record domestic borrowing by the industry regulator of the world’s no. 2 cocoa producer. Ghana Cocoa Board has sold 11.7 billion cedis ($2 billion) of six-month bills between January and May, the most in the five-month period since at least 2011, when Bloomberg started keeping records.... Read More