Saturday, April 1

Ghana

Ghanaian Cedi depreciation

Ghana finds itself in the classic emerging market trap. This comes from owing too much in someone else’s currency when the global economic tide turns. One ought not to read too much into an emerging economy getting creative with money or to confuse the confiscation of private assets with a more conventional process of fiscal retrenchment that would gain IMF approval. If the plan succeeds, Ghana may have saved itself from an economic meltdown, especially in a period widely considered as economic turmoil, per the World Bank’s analysis of the 2023 economy.…

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As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.

Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.

The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.

Currently, Africa’s power is …

US-Ghana Trade Relations: Symbiotic or exploitative? www.theexchange.africa

Many exports from Ghana to the US benefit from duty-free tariff preferences under the American Growth and Opportunity Act (AGOA) and the Generalized System of Preferences (GSP) programme. Exports from Ghana to the US that have enjoyed AGOA preferences include yams, apparel and cocoa (beans, powder or paste).

Ghana has exported US$131 million worth of yams to the US since 2012, avoiding a standard import duty of 6.4 per cent under AGOA. Cocoa exported to the US has amounted to US$2.5 billion over the last two decades.

Miss Rosa Whitaker, the President and the CEO of the Whitaker Group (TWG), is significant to the success of AGOA in Africa, facilitating the export of over 9,000 agricultural and manufactured goods to the United States.

Whitaker advocates for African countries to research what the US market is demanding and be alert to new opportunities. She pointed out the success of Ghana’s cocoa…

Dr. Zanetor Agyeman – Rawlings. She says there still are many challenges of global governance and gender. www.theexchange.africa

The Vienna World Conference on Human Rights in 1993 was forced to address women’s rights as a human rights issues because of the violence and sexual abuse against women occurring in Yugoslavia at the time.

The Fourth International Women’s Conference was held in Beijing in 1995 made human rights and women’s participation in decision making at all levels key. One of the recommendations was for the countries to have gender desks in the Ministries, Departments and Agencies including Security Services. It cautioned against the specific establishment of Women’s Ministries as these would take gender issues to the periphery as that ministry would be saddled with all matters gender-related.

The conference also discussed the eradication of poverty, women in armed conflict and violence against women. …

The Kumasi Market makeover after completion of phase one. Deutsche Bank has organised financing for phase two of the market. www.theexchange.africa

West Africa’s largest market, the huge Kumasi Market in Ghana has more than 12,000 shops and stalls and with the traffic it receives, upgrades are inevitable.

Up to 800,000 people visit the Kumasi Market in Ghana, which neighbours Benin and Togo, each day.

There have been numerous fires in the area because of its size and unplanned development, which has caused the destruction of many stalls and the loss of jobs.

To avoid this, the Deutsche Bank together with the UK Export Finance Agency and the African Export-Import Bank have signed a financing agreement for the second phase of the Kumasi Market reconstruction project.…