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SIC Life Insurance Company Presents Dividend To Government

The SIC Life Company Limited has presented a cheque of GH¢2.05 million to Government, a major shareholder of the company. This represents Government’s dividend for the 2013 accounts.  
 

GSS Releases Inflation Rate For May 2014

Up from 14.7% in April 2014, the year-on-year inflation rate, as measured by the Consumer Price Index (CPI), stood at 14.8% in May 2014, while the monthly change rate for May 2014 was 0.9% against the 1.7% recorded in April 2014.
 

National Economic Forum: The Senchi Consensus

We the participants further agreed that the Directive Principles of State Policy (Chapter 6 of the 1992 Constitution) must continue to guide the national development effort, anchored in a long term national development framework with a compelling vision. (May 16, 2014)

FSB Regional Consultative Group (RCG) Meets In Accra

The fifth meeting of the Financial Stability Board (FSB) Regional Consultative Group (RCG) for sub-Saharan Africa has taken place in Accra. The FSB RCG for sub-Saharan Africa is co-chaired by Lesetja Kganyago, Deputy Governor, South African Reserve Bank and Rundheersing Bheenick, Governor, Bank of Mauritius., while its membership includes financial authorities from Angola, Botswana, Ghana, Kenya, Mauritius, Namibia, Nigeria, South Africa and Tanzania, as well as the Central Bank of West African States (BCEAO) based in Senegal. (May 8, 2014)

NPDC, Development Partners meet on GSGDA II

The National Development Planning Commission (NDPC) has begun a series of national consultations on the Ghana Shared Growth Development Agenda (GSGDA) II, which is being prepared to be implemented over the period 2014-2017. Speaking at the first consultation meeting with Development Partners on Wednesday, Dr Regina Adutwum, Director-General NDPC, said the GSGDA II, a successor medium-term national development policy framework, would help address some challenges and sustain the gains made during the implementation of the GSGDA. (May 8, 2014)

Initiate Innovative Measures to improve IGF

President John Dramani Mahama has called on Metropolitan, Municipal and District Assemblies (MMDAs), to initiate innovative measures to enhance the generation of Internally Generated Funds (IGF). He said resources generated at the local level would help in the country's development, especially at the grass root level. President Mahama said the MMDAs needed to form viable partnership to enable them improve on their IGF to develop their districts, since effective resource mobilisation comes with responsibility. (May 7, 2014)

BOG Measures Helping to Stabilize the Cedi

Mr. Benjamin Amoah, Head of Financial Stability at the Bank of Ghana, has said there is a slowdown in the depreciation of the cedi after measures by the Bank of Ghana (BOG) to halt it. The BOG introduced measures at the beginning of the year to halt the depreciation of the cedi, among which included the withdrawal of both Foreign Currency and Foreign Exchange Accounts in cedis, at the existing exchange rate over the counter, except for traveling purposes. (April 22, 2014)

GDP Growth hit 7.1 per cent in 2013

The Revised Gross Domestic Product (GDP) estimate for 2013, showed a growth of 7.1 per cent compared to the 2012 final estimates of 8.8 per cent. The service sector recorded the highest growth of 8.9 per cent, followed by industry 7.0 per cent with agriculture recording the lowest growth rate of 5.2 per cent. (April 10, 2014)

GOIL pays GH¢1.5 million dividend to Government

The Ghana Oil Company Limited (GOIL) on Tuesday paid a dividend of nearly GH¢1.5 million to the Government, a major shareholder in the company. The amount is in respect of dividend on the 2012 accounts. Government holds a 51 per cent stake in GOIL with the remainder being owned by the public. (April 09, 2014)

2013 Reconciliation Report on the Petroleum Holding Fund

In 2013, GNPC undertook a total of seven crude oil cargo liftings, which involved 6,793,449 barrels of crude oil, on behalf of the State. The seventh and final lifting for 2013 was done on 20th January, 2013. However, the proceeds were realised on 20th January, 2014. Thus, the seventh lifting proceeds were credited to 2014. Total petroleum receipts, including from the Saltpond Field and other sources, amounted to US$846.77 million (GHȻ1,645.59 million). This compares favourably with the 2013 Budget estimate  of  US$581.72  million  (GHȻ1,122.72  million)  and  the  2012  actual  receipts  of US$541.62 million (GHȻ979.32 million).  (April 07, 2014)

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