Ghana's ruling party faces potential defeat in the upcoming election despite a $3 billion IMF bailout and public debt restructuring. While the national balance sheet has improved, citizens grapple with a 60% depreciation of the cedi since 2022, soaring living costs, and new taxes impacting businesses.
Growth Investment Partners (GIP) Ghana Ltd has invested in Rikair Company Limited to enhance the availability of medical-grade oxygen across Ghana. This partnership aims to address critical healthcare gaps by providing long-term financing to expand Rikair's distribution and support local healthcare facilities, especially in underserved regions. The investment aligns with the Ministry of Health’s National Medical Oxygen Policy, emphasizing the need for improved medical oxygen production and accessibility.
Ghana's annual inflation rate surged to 23% in November, marking a six-month high just days before the country's elections. This increase is up from 22.1% in October, as reported by Government Statistician Samuel Kobina Annim in Accra.
Public frustration in Ghana is mounting due to economic challenges, including soaring prices and a lack of job opportunities. This discontent is shaping the atmosphere leading up to Saturday's general election, which will serve as a crucial test of the country's democratic integrity.
Ghana has secured a $360 million disbursement from the International Monetary Fund following a successful third review of its extended credit facility. This approval by the IMF’s Executive Board increases the total funds received to $1.92 billion out of a $3 billion program initiated in May last year.
Growth Investment Partners (GIP) Ghana Ltd has invested in Rikair Company Limited to enhance the availability of medical-grade oxygen across Ghana. This partnership aims to address critical healthcare gaps by providing long-term financing to expand Rikair's distribution and support local healthcare facilities, especially in underserved regions.
After over three decades in Ghana's police force, Emmanuel Amey-Wemegah has outlined his retirement strategy. He plans to invest part of his pension in government bonds, finish building his house, and purchase a car.
Ghana's parliament is unlikely to approve a provisional budget before the December 7 general election, according to former officials and experts. This situation poses the risk of an unprecedented government shutdown early next year.
The Bank of Ghana has decided to maintain its benchmark interest rate at 27%, citing improvements in domestic economic activity alongside a slow pace of disinflation. Governor Ernest Addison announced the decision, which aligns with the expectations of half of the economists surveyed by Bloomberg.
Ghanaians will head to the polls on December 7 to elect a new president and parliament. Investors are closely monitoring the election, as the outcome will significantly influence the direction of an economy that is recovering from a debt default.
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