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Dangote refinery will make Nigeria net fuel exporter – Shettima

Vice President Kashim Shettima says the Dangote Refinery is positioning Nigeria to become a net exporter of refined petroleum products after decades as a net importer of value. Speaking at a High level Accra Reset Initiative meeting on the sidelines of the 2026 World Economic Forum in Davos, he said Africa’s prosperity must be homegrown, built on innovation, industry and interdependence rather than external aid.​ Shettima cited the Lagos based Dangote Refinery as proof of what happens “when African capital meets industrial ambition,” noting that it is gradually turning Nigeria into a major exporter of fuel. He argued that matching production with infrastructure and clear policies can move nations from being price takers to value makers in global markets.​ According to him, only by building domestic productive capacity can African countries convert their large populations and natural endowments into real, […]

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Tinubu says new tax laws will boost prosperity

President Bola Ahmed Tinubu has assured Nigerians that his government’s new tax regime will support shared prosperity, sustained growth and long-term economic stability.​In his New Year message, he said the reforms are meant to harmonise taxes, end multiple taxation, raise revenue sustainably and strengthen funding for infrastructure and social programmes, not to overburden citizens.​He praised states that have already adopted harmonised tax laws, noting that a streamlined system will reduce excessive levies and improve Nigeria’s fiscal foundation.​ Tinubu said the difficult reforms carried out in 2025 are already producing measurable gains despite global economic headwinds, and that more benefits will reach ordinary Nigerians in 2026.​He highlighted a growth plan to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the country’s 8,809 wards through agriculture, trade, food processing and mining.​The […]

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UK Unemployment Rises to Highest in Over Four Years

The United Kingdom’s unemployment rate has climbed to its highest level in more than four years, adding pressure to the economy ahead of the government’s upcoming budget announcement. According to figures released on Tuesday by the Office for National Statistics (ONS), the unemployment rate rose to 4.8 percent in the three months to the end of August — the highest since early 2021. This marks a slight increase from 4.7 percent recorded in the previous three-month period ending in July. The rise in unemployment comes as Britain faces sluggish economic growth and persistently high inflation, roughly six weeks before the Labour government unveils its next tax and spending plans. Richard Carter, an analyst at investment manager Quilter Cheviot, said the latest figures highlight growing weakness in the job market.“The latest statistics show some significant cracks are forming in the UK […]

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Mozambique Hosts 60th Maputo International Trade Fair

Down the main aisle of a bustling conference pavilion in Mozambique’s capital, Maputo, Lucia Matimele stood surrounded by lush green leaves, peppers on the stalk, and bunches of ripe bananas. “We have land, we have water, we have farmers!” she said with enthusiasm. “What we need is investment.” Matimele, the director of industry and commerce for Gaza province—one of Mozambique’s key agricultural regions about 200km (125 miles) from the capital—brought a display of the province’s most promising crops to the 60th annual Maputo International Trade Fair (FACIM). She joined thousands of other exhibitors from within and outside the country to showcase products and attract new business opportunities. The government has emphasized economic growth and investment this year despite political challenges. More than 3,000 exhibitors from nearly 30 countries are participating in the event, which runs for seven days and is […]

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Government Bolsters Ghana Bauxite Company’s Operations Amidst Expansion Plans

The Ghana Bauxite Company (GBC), a pivotal player in the nation's mining sector, is receiving substantial backing from the Ghanaian government to ensure its operations run smoothly. This support is instrumental as GBC embarks on ambitious projects aimed at boosting local employment and adding value to Ghana's natural resources. Government's Commitment to GBC During a recent visit to GBC's facilities in Awaso, Western North Region, the Regional Minister, Hon. Wilbert Petty Brentum, reaffirmed the government's dedication to providing a conducive environment for the company's activities. He emphasized the administration's intent to collaborate with district assemblies to facilitate GBC's growth and integration into the local economy. Transition to Indigenous Ownership Since 2022, the Ghana Bauxite Company has been under the majority ownership of Ghanaian investor Mr. Isaac Ofori-Poku, who holds an 80% stake. This transition marks a significant move towards indigenous […]

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Former German President Backs Ghana’s 24-Hour Economy Initiative.

Former German President Christian Wilhelm Walter Wulff has lauded Ghana’s proposal to establish a 24-hour economy, describing it as a transformative idea for economic growth. Speaking during his visit to AmaliTech, a German IT firm operating in Ghana and Rwanda, he highlighted how this initiative could strengthen global business partnerships.AmaliTech, which has been training and employing Ghanaian youth in digital fields like software development and data science, exemplifies the country's potential to bridge Europe’s digital talent shortage. Wulff expressed admiration for Ghana’s educated workforce and its ability to support German businesses, calling it a "win-win" for both countries.The Director of Operations at AmaliTech, Mathew Opoku-Darkwa, underscored the need for reliable infrastructure to fully implement the 24-hour economy and capitalize on the global demand for digital talent.

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Obuasi East Youth Receive Start-Up Kits to Launch Careers.

Over 50 young entrepreneurs in the Obuasi East Municipality have received essential start-up kits from the Youth Employment Agency (YEA) after completing a six-month skills training program. The equipment, which included hair dryers, auto repair kits, makeup sets, and safety gear, was presented by Hon. Faustina Amissah, the Municipal Chief Executive.The training focused on fields such as plumbing, vehicle servicing, beauty care, and woodworking, empowering participants with valuable skills and NVTI-accredited certificates. Beneficiary Priscilla Opoku expressed her gratitude, stating the program has enabled her to start her own business.Hon. Amissah emphasized the government’s dedication to youth empowerment and urged recipients to use their tools effectively to create sustainable businesses.

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Ghana Unveils Groundbreaking 5G Network.

Ghana has officially launched its first 5G network, marking a significant advancement in the country's telecommunications landscape. The event, led by Minister for Communications and Digitalisation, Hon. Ursula Owusu-Ekuful, highlighted the transformative potential of 5G technology, promising enhanced connectivity, productivity, and economic growth.The initial rollout targets major cities like Accra, Kumasi, and Takoradi, with plans for nationwide coverage, including rural areas, by 2026. This ambitious timeline aims to ensure that all Ghanaians can enjoy the benefits of high-speed internet.Owusu-Ekuful emphasized the revolutionary capabilities of 5G, which include higher speeds, lower latency, and increased capacity for innovations across various sectors such as agriculture, healthcare, and manufacturing. A multi-phase strategy is in place to facilitate this rollout while addressing challenges such as cybersecurity and affordability.The government is committed to safeguarding user data through stringent protections and fostering a collaborative environment with telecom […]

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National Tourism Awards Celebrated at Osu Castle Gardens.

The Ghana Tourism Authority (GTA) recently held the National Tourism Awards at the Osu Castle Gardens in Accra, an event dedicated to honoring outstanding contributions to Ghana's tourism sector. This year's ceremony celebrated various tourism professionals, businesses, and organizations that have demonstrated excellence and innovation, boosting Ghana's appeal as a top travel destination. With awards spanning multiple categories, including hospitality, travel services, and ecotourism, the event highlighted the growing significance of tourism for Ghana’s economy and its cultural heritage. The choice of Osu Castle Gardens as the venue added historical significance, showcasing one of the country’s renowned landmarks. The GTA aims to inspire continued development in the tourism sector by recognizing leaders and innovators who contribute to Ghana’s visibility on the global stage. The awards also align with Ghana’s agenda to increase tourism revenue by attracting more international and local […]

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IMF Projects Ghana’s Debt to GDP Ratio Will Reach 83% by end of 2024

The International Monetary Fund (IMF) has projected that Ghana's debt-to-GDP ratio will climb to 83% by the end of 2024, as detailed in its October 2024 fiscal monitor report during the ongoing IMF annual meetings in Washington, D.C. Currently, Ghana's debt stock exceeds GHS 760 million, equating to approximately 75% of GDP.Despite this increase, the IMF forecasts a steady decline in the debt-to-GDP ratio over the next five years, predicting it will drop to 69.7% by 2029. This optimistic outlook is based on anticipated improvements in Ghana's fiscal indicators.In addition to the debt projections, the IMF has maintained its economic growth forecast for Ghana at 3.1% for 2024, which aligns with the government’s end-year target. IMF Chief Economist Pierre-Olivier Gourinchas emphasized the importance of a “triple pivot” strategy—comprising easing monetary policy, rebuilding fiscal reserves, and implementing structural reforms—to ensure sustainable […]

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