The Minister of Agriculture, Dr. Bryan Acheampong, has announced a significant move to expand the left bank of the Kpong Irrigation Scheme. This expansion, valued at $20 million, will be carried out by the Food Systems Resilience Programme (FSRP), marking a substantial investment in Ghana’s agricultural infrastructure. This decision builds upon the government’s earlier investment … Read more
Ghana’s Textile Industry, known for its colorful designs and cultural importance, is in trouble. Lots of fake materials, mostly from China, are flooding the market. This is hurting local businesses and making it hard for them to stay afloat. For years, Ghana’s Textile Industry have been famous for their unique patterns and bright colors fabrics. … Read more
Meta, the parent company of social media giants Facebook, WhatsApp, and Instagram, faced a significant drop in its share prices following the announcement of increased spending on artificial intelligence (AI). Despite reporting strong earnings figures, Meta’s shares plummeted by more than 15% in after-hours trading in New York. CEO Mark Zuckerberg attributed the decline to … Read more
The African Development Bank has given the green light to a $999,000 grant to back a project aimed at nurturing green jobs for women, youth, and individuals with disabilities. The initiative, known as the MicroGREEN project, under the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF), targets to create 500 green job opportunities and … Read more
In a recent address at the Money Summit 2024, Atta Yeboah Gyan, the Deputy Managing Director of Fidelity Bank, Ghana, highlighted the pressing need for a fundamental shift in investment strategies to foster sustainable economic growth. Gyan emphasized the necessity of revisiting how capital is allocated, urging the exploration of emerging opportunities in renewable energy, … Read more
Starting May 1, 2024, acquiring a Ghana Card will come with updated fees, as announced by the National Identification Authority (NIA). The changes, detailed in a public notice shared on the NIA’s Facebook page, stem from the implementation of the Fees and Charges (Miscellaneous Provisions) Regulations, 2023 (L.I. 2481), passed by Parliament earlier in February … Read more
Nigeria is eagerly awaiting the final approval of a $2.25 billion World Bank loan scheduled for June 2024. This significant financial aid package consists of two components: a $1.5 billion loan in Development Policy Financing and an additional $750 million in Programme-for-Results Financing. The Ministry of Finance disclosed these details in a statement released on … Read more
The Ghanaian government has made a significant commitment to bolster the cashew sector with a $60 million investment, with a focus on processing, according to William Agyapong Quaittoo, Chief Executive of the Tree Crops Development Authority (TCDA). Explaining the initiative, Quaittoo disclosed that the government had secured a $100 million loan from the World Bank, … Read more
Understanding the ins and outs of obtaining a Tax Identification Number (TIN) in Nigeria is crucial for individuals and businesses alike. This unique number, issued by the Federal Inland Revenue Service (FIRS), serves as a vital identifier for taxpayers across the country. Let’s delve into the process, requirements, and importance of obtaining a Tax Identification … Read more
Nigeria’s oil market is experiencing a big change with the emergence of Dangote refinery, poised to shake up the status quo in diesel supply. BusinessDay’s investigation reveals that this move could potentially terminate the hefty annual importation of 2.5 billion liters of diesel from European refiners. For years, European refiners have enjoyed a thriving market … Read more