Huge revenue losses associated with the outbreak of COVID-19 and projected losses due to the impact of the pandemic has pushed government to downgrade its Gross Domestic Product (GDP) growth from 6.8 percent to 0.9 percent. This was announced by the Minister of Finance Ken Ofori Atta during the presentation of the Mid-Year Review of…
The Ghana Stock Exchange has recorded a total of more than 262.2 million traded shares valued at GH¢ 194 million in the first six months of 2020 amid the uncertainty of the coronavirus crisis. The performance, from January to June 2020, represents 107.9 per cent growth in volumes and 87.7 per cent in value traded…
Reveue generated from taxes on goods imported from other countries yielded only GH¢829.71 million in the first quarter of this year, 34 per cent short of the target. This is against a target of GH¢1.26 billion, a shortfall of GH¢427.55 million which represents 34.01 per cent, according to a provisional fiscal data released by the…
Technology giant, IBM Corporation has appointed Angela Kyerematen-Jimoh as Regional Head for North, East and West Africa where she will be responsible for IBM operations in over 40 countries in Africa including Morocco, Nigeria, Kenya, Senegal, Uganda, Ghana and Tunisia. Before her appointment, Ms. Kyerematen-Jimoh was Chief of Staff to the Senior Vice President in…
The report points to policies needed to improve skills to empower the West African labour force Growth in West Africa, poised to expand by 4.0 percent in 2020, now projected to contract by -2.0 percent in 2020; Demand for science, technology, engineering and mathematics increasing, though school enrolment, retention rates poor. West Africa’s burgeoning youth…
African sovereigns’ border closures and broader lockdown measures have significantly slowed small-scale trade across Africa, a crucial source of income and employment on the continent Recovery will be slow and there is a risk of longer-term scarring from the crisis Falling revenues from economic slowdown, spending on measures, and a rise in healthcare spending will…
So far, an estimated US$324million worth of drilling, acquisition and interpretation of seismic, geological and geophysics data projects have been postponed across the petroleum upstream sector, the National Petroleum Commission has said as the coronavirus pandemic continues to wreak havoc on the country’s oil and gas industry. Among them is included the Eban 1X exploratory…
The African Development Bank (AfDB) has urged governments across the continent to use monies borrowed from the international community to undertake productive ventures that will pay back, as the pandemic-induced debts are likely to plunge many countries into distress. Ever since the coronavirus disease began hitting economies around the world, several governments, including those from…
Last month, the African Union launched the Africa Medical Supplies Platform to facilitate the production and provision of vital medical equipment – the latest achievement in an already impressive response to the COVID-19 crisis. Yet, in the same week, it was revealed that most of Nigeria’s federal government revenue was going to debt-service payments, and…
How much longer can Xi Jinping claim political legitimacy as guardian of the great Chinese nation? His policy choices on Taiwan, Trump and Tiananmen, combined with a slowing economy, could prove treacherous, argues Greg Austin. China’s President Xi Jinping is facing a leadership crisis. During the November 2019 BRICs summit, he described the current set…
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