🚩 The government of Ghana has agreed a $180 million deal with the Exim Bank of India to finance various development projects in the country. This was announced by Ghana’s Vice-President, Dr Mahamudu Bawumia, who stated on Monday, 18 March 2019 that the agreements will be signed between the two countries in April 2019. Dr Bawumia revealed that the decision was taken after engagements with Mr David Raaquinha, Exim Bank of India President and also John Deere, an executive of TATA Africa Holding (GH) Limited.
🚩 Rating agency Standards and Poor's (S&P) Global has rated Ghana’s upcoming $3 billion Eurobond ‘B/Stable’. The rating agency holds the view that Ghana currently has the capacity to meet its financial obligation but faces major ongoing uncertainties that could impact its financial commitment on the obligation.
🚩 MTN, Ghana’s leading telecommunications service provider, has launched its 4G+ service to provide faster data speeds with widest coverage for its customers. The 4G+ service runs on 4G LTE Advanced technology using the combination of the 800MHz and 2600MHz for carrier aggregation which is an enhancement on the 4G LTE experience. This provides more capacity and enhanced data speed of up to 20x if migrating from 3G to 4G+ and 5x if migrating from 4G to 4G+.
🚩 For the better part of the first quarter of 2019, gold, which remains the largest foreign exchange earner for the country has being trading on the international market at lower prices than it did last in the same period of last year. According to data from investing.com, gold prices stood at between US$1348.20 per ounce and US$1358.40 per ounce to end the first quarter of 2018. However the situation for this year has deteriorated significantly, as the preciouso metal has struggled to stay above the key level of US$ 1,300 per ounce level.
🚩 The Public Utilities Regulatory Commission (PURC) is visiting the ongoing construction site of the road interchange at Pokuase on Monday, March 18. The construction work has necessitated the diversion of GRIDCo’s 330kV transmission line towers that run from Tema to Aboadze, plunging parts of the country into darkness.
The PURC said the visit will afford them the opportunity to have first-hand information on what transpired and also know the progress of work.
🚩 Ghana is to become self-sufficient in rice production by the year 2025. This may sound ridiculous but certainly not impossible. The disclosure is couched in the Akufo-Addo government’s newly introduced initiative on rice production, strategically structured as an arm of its flagship Planting for Food and Jobs (PFJ) programme, to boost the production of the crop in the country. Ghana is said to be importing rice close to the tune of $1billion annually with an apparent negative effect on the national economy
🚩 The chiefs and people of Buipe in the Central Gonja District in Savannah Region have welcomed the appointment of Mrs. Gabiana Gbanwaa as the new General Manager of the Produce Buying Company (PBC) Shea Processing factory in Buipe. They are optimistic that, with her decades experience in both the civil service and in the corporate world she would be able to introduce innovative ideas that would help reposition the factory which had been faced with numerous challenges.
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