Ghana’s crude oil production witnessed a decline of 6.78% in 2023, marking a continued downward trend over the past four years, as highlighted in the Public Interest Accountability Committee’s (PIAC) 2023 Annual Report on the Management and Use of Petroleum Revenue. Production Figures In 2023, Ghana produced 48,247,036.61 barrels of oil, a decrease from 51,756,481 … Read more
Ghana’s economy is currently grappling with significant challenges, most notably a historic cost-of-living crisis that disproportionately affects informal employment sectors in Accra. The roots of this crisis are multifaceted, stemming from various economic pressures and policy shortcomings. The International Monetary Fund (IMF) reports that these issues have pushed over 850,000 Ghanaians workers into poverty. PAY … Read more
An investigation by KPMG, commissioned by President Nana Addo Dankwa Akufo-Addo, has revealed that Strategic Mobilisation Ghana Limited (SML) did not pay Value Added Tax (VAT) amounting to GH¢13.38 million. This oversight occurred during an eight-month period, from September 1, 2020, to April 30, 2021, when the Ghana Revenue Authority (GRA) made bulk payments to … Read more
Vice-President Dr. Mahamudu Bawumia has inaugurated a new initiative aimed at empowering 5,000 female head porters, known as ‘kayayei’, to improve their socio-economic status. Launched in Accra, the ‘Kayayei Empowerment Programme’ will offer vocational training, housing, and support to facilitate these women’s transition into more stable employment. Programme Overview The initiative focuses on providing technical … Read more
Cocoa, often referred to as the ‘golden pod’, has been integral to Ghana’s economy for over a century. Its importance is underscored by the livelihood it provides to approximately 850,000 farming families. While gold is Ghana’s top export by value, cocoas remains vital due to its widespread economic impact and renewability. Historical Significance Cocoa’s cultivation … Read more
Spare parts dealers at Abossey Okai, the nation’s largest hub for vehicle components, have voiced their grievances over the crippling effect of exorbitant port charges and government neglect on their businesses. According to representatives from the Abossey Okai Spare Parts Dealers Association, the soaring import charges and cumbersome tax regime threaten the survival of the … Read more
The ECOWAS Bank for Investment and Development (EBID) has solidified its commitment to Ghana’s economic growth by pledging to inject USD 200 million into the Ghanaian economy. This strategic collaboration involves partnerships with the Ghana Export-Import Bank (GEXIM) and GCB Bank PLC, aimed at catalyzing development and resilience across the region. The Memorandum of Understanding … Read more
According to the latest statistical report released by the Births and Deaths Registry in Ghana, a staggering total of 18,689 deaths were attributed to the top 11 causes of mortality in the country in the year 2022. This accounted for 36.7% of all registered deaths, which amounted to 50,992. Topping the list of killers was … Read more
Richard Okai, a 26-year-old mobile money sales boy, has found himself in hot water after being accused of embezzling approximately GH¢1,385,910.3. His case is currently before an Adentan Circuit Court, awaiting the Attorney General’s (AG’s) direction on further action. Okai, who initially pleaded not guilty to six counts of stealing various amounts, was first brought … Read more
In recent years, Ghana has experienced a remarkable surge in agribusiness activities. This boom in agribusiness is reshaping the country’s economy and offering new opportunities for growth and development. If you’re curious about what’s driving this trend and how you can be a part of it, here’s what you need to know. Agribusiness, simply put, … Read more