The Bank of Ghana has since the turn of the year committed at least US$525 million in its forex forward auctions introduced last year as part of reforms to bring stability to the local currency.
The suspension of the Agyapa Royalties transaction, pending a corruption risk assessment by the Office of the Special Prosecutor, will be a confidence booster for the country’s prospects on the international capital market, chairman of Parliament’s Finance Committee, Dr. Mark Assibey-Yeboah, has said.
The value of Ghana’s total exports decreased to 9.6 billion dollars in the first eight months of 2020, from 10.6 billion dollars recorded in the same period last year.
The Ministry of Finance has served notice that the government will not proceed with the Initial Public Offering, IPO of the Agyapa Royalties deal until the Special Prosecutor concludes ongoing corruption risk assessment on it.
Tullow Ghana Limited, TGL, operator of the Jubilee and Tweneboa, Enyenra and Ntomme, TEN fields, has announced that the country has reached a milestone with 300 million barrels of oil production from the Jubilee field.
A former CEO of Chamber of Mines, Dr. Tony Aubyn has called on indigenous mining entrepreneurs to venture into uncommon areas such as bauxite, manganese and iron ore in order to optimise the potential in those sectors.
Ghana will cement its position as West African’s automotive production hub in the coming years, according to Fitch Solutions, a research arm of ratings agency Fitch.
The Economics Research wing of Goldman Sachs, a global financial institution, is forecasting Ghana’s economy will perform better than government’s 0.9 percent GDP growth projection for this year.
Despite Ghana’s economy shrinking by 3.2 percent in the second quarter of the year, the central bank says the economy is on a recovery path as its measure of economic activity shows positive signs.
