Prime News Ghana

Today's Ghana Business, Banking and Economic news

Customs duties in Africa to reduce next year

Customs duties on trading within Africa will be reduced from next year onwards when the African Continental Free Trade Area (AfCFTA) agreement comes into force on January 1, 2021.

Some MFIs, RCBs defaulting on credit reporting

Notwithstanding improvements to Ghana’s credit referencing system, the central bank has indicated that some financial institutions have refused to subscribe to credit bureau services, contrary to the Credit Reporting Act 2007 (Act 726).

Gov’t targets GH¢22.19bn in new debt issuance

Government is projecting to issue domestic debt securities of a gross amount of GH¢22.19bn in the last quarter of the year, according to the latest debt issuance calendar from the Finance Ministry.

New law transfers oversight of Cocobod to Agric Minister

A new bill, the Ghana Cocoa Board (Amendment) Bill 2017, which will transfer ministerial oversight over Cocobod to the Minister of Food and Agriculture and reposition the board to deliver the target of producing 1m tonnes of cocoa annually, has been approved by parliament.

GH¢3.3bn of corporate bonds await issuance

Available data on activities on the Ghana Fixed Income Market show that about GH¢3.3bn worth of corporate bonds are outstanding to be issued by nine companies, including the government-owned ESLA Plc.

Gov’t engages lenders over PPAs renegotiation

Government has directly engaged lenders of independent power producers (IPPs) as part of efforts to renegotiate IPPs’ current power purchase agreements (PPAs) and has also offered to refinance IPPs’ outstanding debts at a discount through a designated energy fund.