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Financial stability: World Bank gives Ghana $30m support

The World Bank has approved a $30 million International Development Association (IDA) credit to support the Government of Ghana strengthen its financial sector stability. The support is also to improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. Commenting on the …

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Ghana, Cote d’Ivoire cement cooperation agreement on cocoa

Ghana and Ivory Coast have agreed on an implementation plan to concretise the Abidjan Declaration, which seeks to address challenges in cocoa production within the framework of the Strategic Partnership Agreement. The Strategic Partnership Agreement binds the two countries in even closer intimacy and demands that they work together to …

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IMF asks for time to decide on US$2bn Sinohydro deal

The International Monetary Fund (IMF) has said it needs time to take a decision on Ghana’s US$2 billion Sinohydro deal with China – as to whether it qualifies as part of government debt or not, following concerns raised by the Minority in Parliament over the deal. The IMF chief, in …

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MTN secures over GH₵1.14bn in historic IPO

Telecoms giant, MTN has secured over GH₵1.14 billion in a historic Initial Public Offering (IPO), according to persons with knowledge of the offer results. Background MTN in May formally launched its Initial Public Offering seeking to raise about GH₵3.47 billion. It was hoping to sell each share at GHp75 by issuing …

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VW plant to be set up by last quarter of 2018 – Pius Hadzide

Pius Enam Hadzide, Deputy Minister of Information, has disclosed that German car manufacturer Volkswagen’s (VW) vehicle assembly plant would be set up in Ghana by the last quarter of 2018. According to him, government has already signed a memorandum of understanding (MoU) with Volkswagen South Africa. Speaking on Citi TV/Citi …

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