Remittances from Ghanaians living abroad to Ghana increased by 7.3 percent to US$3.8 billion in 2018. Remittances to Sub-Saharan African countries in 2018 contributed substantially to the Gross Domestic Product (GDP) of these nations. Transfers grew by almost 10 per cent to US$46 billion, according to the World Bank’s latest Migration and Development Brief. Ghana was among the top 10 ...

Ethiopian Airlines says it believes 149 passengers and eight crew members were on board a plane that crashed six minutes after taking off from Ethiopia’s capital, Addis Ababa, on a flight to Nairobi. In the latest update, Ethiopian state media reported that all 149 passengers and eight crew on board the Ethiopian Airlines flight died when it crashed shortly after ...

The Vice President of the Republic, Dr. Mahamudu Bawumia has announced 10 measures introduced by various Ministries, Departments and Agencies over the past nine months in an effort to improve the country’s business environment. A multisectoral technical team from across Government agencies presented the ambitious business reform plan to key stakeholders at Labadi Beach Hotel. The planned reforms are within ...

Further depreciation of Ghana’s Cedi in 2019 is limited based on our outlook on key economic indicators and foreign exchange inflows this year. This expectation firmly stems from our view that we are to witness another period of discipline from the economic authorities regarding the budget deficit. Ghana delivered a strong performance on the budget in the last two years, ...

European Union (EU) member states have unanimously rejected a proposal by the EU Executive Commission (EC) to blacklist 23 countries, including Ghana and territories, it believes pose a high risk of money laundering or terrorist financing. According to the EC, the countries were placed on the blacklist for having strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks. In ...

The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong-Boateng, has cut the sod for the rehabilitation of 10 dams across the northern part of the country. The dams are expected to serve as reservoirs for the spilt water from the Bagre Dam in Burkina Faso which has been causing perennial flooding and damage to both crops and ...

The Ghana Airports Company Limited (GACL), a state-owned company responsible for managing all airport facilities in the country, is financially constrained due to the high cost of the funds secured for constructing the state-of-the-art Terminal 3 at Kotoka International Airport (KIA). The B&FT on August 12, 2015 reported that the GACL had secured an amount of US$250million from a consortium ...

The Government of the United Kingdom has pledged funds to undertake three major infrastructure projects in Ghana this year. The Tamale Airport, the Bekwai hospital project and the Kumasi Central Market are all set to receive funding to either undergo major expansion, construction or facilitate the installation of essential equipment as part of the UK government’s partnership agreements with the ...

The Association of Building and Civil Engineering Contractors of Ghana has charged government to take pragmatic steps to honour its campaign promises pertaining to the unpaid Ghanaian contractors. The association in a press release has also enquired of the status of the $1.5 billion dollars loan contracted by the government of Ghana through GETFUND to pay contractors for works done. ...

The Ministry of Tourism has issued a directive to various players in the hospitality industry to stop charging in foreign currencies, especially in U.S. dollars. The Bank of Ghana’s laws currently bars the practice which has been identified as one of the factors putting pressure on the cedi. Minister of Tourism, Catherine Afeku told journalists that there is an ongoing ...