[Translate] The World Bank has approved a 100 million dollar facility for the country as the 8th Poverty Reduction Support Grant (PRSG8). This is to support the implementation of the Ghana Shared Growth and Development Agenda (GSGDS 2010-2013),which succeeded the second Growth and Poverty Reduction Strategy (GPRS). The facility among others is to be used to establish a petroleum regulatory... 

[Translate] Studies have established a link between transportation infrastructure investment and economic development. Though figures are not readily available, the poor roads linking parts of the Kumasi metropolis is believed to be affecting productivity. Commuting within the city for daily business activities has become very difficult because of challenges to route access. For instance,... 

[Translate] Seth TerkperGovernment has denied claims that the country will pay as much as 2.3 billion dollars more for the loan it is contracting from the Chinese Development Bank in addition to the principal and interest. The Minority in Parliament raised concerns on Thursday that the country will commit nearly 7 billion dollars worth of the country’s crude oil to the Chinese. They... 

[Translate] Dr. Kwabena DufourThe Board of Executive Directors of the World Bank on Thurday approved the eighth poverty reduction support grant (PRSG8) of US$100 million for Ghana. This facility was processed within the harmonized Multi Donor Budget Support (MDBS) framework. It supports the implementation of the Ghana Shared Growth and Development Agenda (GSGDA 2010-2013), which succeeded the... 

[Translate] NPA boss, Alex MouldConsumers will be spared the substantial leap in the price of kerosene, LPG and premix fuel the National Petroleum Authority had warned will take place if it complied with a recent court ruling on the controversial ex-differential levy. This is because the Authority says it has taken steps to legalize the levy which the court had declared illegal. It had warned... 

[Translate] Parliament has approved a request for a waiver of tax and duty liabilities of over 4.6 million dollars on equipment and materials to be imported and purchased locally in respect of the execution of the Mampong water supply rehabilitation and expansion project. The waiver also covers corporate and expatriate income taxes of over GHȼ 1.3 million in respect of the same project. Mr James... 

[Translate] The Minority in Parliament is claiming that in addition to the principal and interests, the government of Ghana will have to pay close to $2.3 bn more for the $3 billion loan it intends securing from the China Development Bank (CDB). The Minority argues that this smacks of corruption or a lack of due diligence on the agreement by the Mills’ administration. NPP MP for Manhyia,... 

[Translate] Tullow Oil in collaboration with UK-based Sunderland Football Club has launched a new business initiative dubbed “Invest in Africa” to attract and facilitate further investments in the continent. The initiative is intended to promote Africa’s investment opportunities to the international business community through football, and encourage long-term investment across the continent... 

[Translate] The African Development Bank has successfully issued a US$1billion, five-year bond. Order books totalled US$1.2 billion from 43 investors. Final distribution figures underscored AfDB’s strong penetration across different regions. The order book was well diversified geographically. Asian investors came in as the largest buyers at 44 percent of the bond. European and American investors... 

[Translate] Shell Ghana is hoping to be rebranded as VIVO Energy by end of March this year. The move which is subject to management approval will however affect only its corporate-brand and offices but exclude the service and commercial stations. The rebranding has been necessitated by changes in the shareholding structure of Shell’s businesses in some 21 countries in Africa. Such developments...