Business

Ghana to get Petroleum law ahead of 2011 budget

The Petroleum Exploration and Production Bill and Petroleum Revenue Management Bill would be passed before the budget for 2011 would be read in November, this year. Mr. Cletus Avoka, Majority Leader in Parliament, said when Parliament resumes sitting on October 19, efforts would be made to ensure that those bills are passed

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Obama urged to support oil transparency in Ghana

The US branch of Oxfam International is in the process of gathering 25,000 signatories online across the world to put pressure on President Barrack Hussein Obama to support tougher oil transparency in Ghana. Oxfam is of the view that it is time to give communities even more power over where the oil money goes

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Ghana’s Economy Is Strong Due To Prudent Policies – Duffuor

The Minister of Finance and Economic Planning, Dr. Kwabena Duffuor, says confidence in the country’s economy is now strong due to the prudent policies of the government. He said the private sector’s responses to the macro-economic policies and structural reform programmes of the government had generally been positive over the past 14 months

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British Banks Complicit in Nigerian Corruption

A new report says five British banks have accepted millions of dollars from Nigerian politicians accused of corruption. The report by anti-graft monitor Global Witness says the banks took deposits from two former Nigerian state governors who are accused of acquiring the money through bribes and theft

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Kwesi Botchway gets top post in Mills’ gov’t

Twenty two months after assuming the presidency of Ghana, President John Evans Atta Mills has finally given a top post to a former opponent in the race he won to lead the NDC, Dr Kwesi Botchway. Dr Botchway, a former Minister of Finance under the Rawlings-led NDC administration and currently a member of the Economic Advisory Council has been appointed head of a National Gas Development Task Force

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US Commits $10 Million to Combat Cocoa Child Labor in Ghana and Ivory Coast

The US government plans to commit $10 million to combat the worst forms of child labor in the cocoa-growing countries of Ivory Coast and Ghana where half of the world's cocoa is produced. If there's one thing people around the world share in common it's the love of chocolate but for some, it's a bitter reality that the main ingredient in chocolate - cocoa - is generally produced by child labor

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COCOBOD raises $1.5 billion

The Ghana Cocoa Board (COCOBOD) Wednesday signed a $1.5 billion pre-export trade finance facility for the purchase of cocoa for the 2010/2011 season. This year's facility, the biggest ever raised for COCOBOD

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Ghana gets another $10 Billion Chinese loan

China Exim Bank and the Government of Ghana signed a $10.4 billion concessionary loan for the development of a railway system from Kumasi to Paga, Ghana's Eastern Corridor roads network and other sectors of the economy. Four billion dollars will go into the railways system, six billion dollars for ancillary energy infrastructure

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China gives Ghana over $3bn loan

President John Evans Atta Mills and his Chinese counterpart, Hu Jintao, on Monday signed a deal for China to give Ghana a loan of three billion dollars to develop her energy sector. Specific areas to be targeted under the deal include infrastructure development, job creation and the development and other derivatives of oil and gas

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