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Ahafo

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 […]

Ahmad June 2, 2025

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Finance

Can Nigeria Hit Its $1 Trillion Economy Goal by 2030? Unemployment Crisis Threatens Progress

Nigeria’s $1 Trillion Economy Ambition: How Unemployment Could Derail Progress Nigeria’s bold vision to achieve a $1 trillion economy by 2030 is under severe threat, with experts warning that worsening unemployment and underemployment rates could derail the initiative. As graduates flood an oversaturated job market and companies downsize amid economic pressures, the nation’s labor crisis is reaching a tipping point. The Unemployment Time Bomb Recent data from the National Bureau of Statistics (NBS) reveals a labor force participation rate of 79.5% in Q2 2024, with rural areas (83.2%) outperforming urban zones (73.2%). While the employment-to-population ratio rose to 76.1%, these figures mask harsh realities: stagnant wages, factory closures, and a growing reliance on loans to survive. Dr. Muda Yusuf, Director of the Centre for Promotion of Private Enterprise (CPPE), highlights alarming trends: “Key sectors like agriculture, manufacturing, and trade—critical for […]

Mujahid Yusuf May 18, 2025

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Nigeria

May Day 2025: Tinubu Pledges Economic Relief for Nigerian Workers, Vows Job Creation & Poverty Alleviation

Tinubu’s May Day Promise: ‘Your Challenges Are My Priority’ Abuja, Nigeria – President Bola Tinubu marked May Day 2025 with a firm commitment to addressing the economic struggles of Nigerian workers, praising their resilience as the “backbone of society” and pledging accelerated reforms to improve living standards. Key Assurances from Tinubu’s Address 🌟 Workers as Heroes: “Nigerian workers are the true heroes of our nation. Their sacrifices inspire us to strive for excellence.” – Tinubu, via Labour Minister Muhammad Maigari Dingyadi. 🌟 Policy Focus Areas: Job Creation: Expand public works programs and SME funding to tackle youth unemployment (45%). Poverty Alleviation: Strengthen conditional cash transfers and food security initiatives. Inclusive Growth: Prioritize policies to bridge income inequality gaps. Acknowledgment of Economic Challenges 📉 Global vs Local Realities: Tinubu admitted Nigeria’s economic woes—62% inflation, fuel scarcity, and currency instability—but framed them as part of a “global crisis.” Public Sentiment: Workers protest stagnant wages […]

Mujahid Yusuf May 2, 2025

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Finance

Dangote Joins World Bank’s Elite Private Sector Investment Lab

Aliko Dangote, President and Chief Executive of the Dangote Group, has been appointed to the World Bank’s Private Sector Investment Lab , a prestigious initiative aimed at boosting investments and creating jobs in emerging economies. In a statement confirming his acceptance, Dangote expressed his excitement and commitment to driving sustainable economic growth through private sector-led initiatives. “I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” Dangote said. “This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions,” he […]

Mujahid Yusuf April 25, 2025

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OTI

Alkebulan City Project: A New Ultra-Modern City Rises in Agave-Dzebetato

A groundbreaking modern city project, spanning over 2,000 acres, has officially begun in Agave-Dzebetato, South Tongu District of the Volta Region. Named Alkebulan City Ghana, the ambitious development will feature residential and business districts, a university, a vocational college, a teaching hospital, a sports academy, and a shopping mall.Other key facilities in the multi-million-dollar project include an aerodrome for private jets, a grand conference center, a stadium, a seven-star hotel, and various recreational spaces.Dr. Delorn Madeiz, CEO of Imperial Madeiz Ltd, the company spearheading the project, expressed gratitude to traditional leaders for donating land to make the vision a reality. He stated that Alkebulan City will accommodate up to five million people and play a crucial role in economic transformation by curbing rural-urban migration, creating jobs, and boosting regional integration.The project, set for completion within five years, will be built […]

Edem 4Style March 3, 2025

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Greater Accra

Ghana’s Workforce Struggles as 74% Lack Higher Education – Economist Warns

Ghana’s economic growth is being hindered by a significant skills gap, with 74% of the workforce having no education beyond Junior High School (JHS), according to labour economist Prof. William Baah-Boateng. Speaking at the launch of the Productivity, Employment, and Growth Report on February 24, 2025, he highlighted that 20% of Ghana’s workers have no formal education, while 54% have only completed JHS.He described this as a major structural issue limiting productivity, making it difficult for the country to compete globally or implement policies like a 24-hour economy. Ghana’s labour productivity currently averages $6 per hour, compared to $70 in the United States—a gap too wide for sustainable economic progress.The report revealed that despite an average annual productivity growth of 3.2% from 1991 to 2019, most workers remain in low-productivity sectors like informal urban services and household agriculture. While the […]

Edem 4Style February 24, 2025

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VOLTA

Togbe Afede’s Aviation Academy Project Faces Delays Despite $32K Deposit to GACL.

The Agbogbomefia of the Asogli State, Togbe Afede XIV, is facing setbacks in his efforts to establish a Pilot Training School in Ho, Volta Region. Despite making a $32,445 deposit—30% of the required payment—to the Ghana Airport Company Limited (GACL) in June 2023, the project remains stalled due to inaction from the airport authority.The academy, planned for the Ho Airport, aims to train pilots and aviation personnel while creating jobs and boosting the regional economy. According to the Asogli State Council, the delay reflects a lack of commitment from GACL, despite Togbe’s investment.The Ho Airport, completed in 2018 at a cost of $25 million, has struggled to operate effectively, leaving it underutilized. Togbe Afede’s proposed school could revitalize the airport and transform it into a regional aviation hub.The Asogli State Council has criticized the airport authority, stating, “The negligence and […]

Edem 4Style December 5, 2024

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General

Nilex Properties MD Advocates for Use of Local Materials in Building Projects.

Nilesh More, Managing Director of Nilex Properties, has urged estate developers to use locally sourced building materials to reduce housing costs in Ghana. Speaking at a media engagement ahead of the "Ghana-Diaspora Home Purchase Expo 2024," More emphasized that the high cost of property development in the country could be alleviated by relying on local materials, which would also create jobs and support the local economy.The expo, set for December 12 and 13, 2024, will bring together developers, real estate agents, financial institutions, and diaspora investors to discuss opportunities in Ghana's real estate market. More also announced plans to provide affordable housing by using locally sourced materials for the construction of apartments and townhouses. Additionally, his company is collaborating with financial institutions to offer mortgage options for potential buyers.The event will also provide legal insights for property investments, including land […]

Edem 4Style November 22, 2024

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ASHANTI

YEA Equips Over 50 Young Entrepreneurs in Obuasi East with Start-Up Kits.

In Obuasi East, over 50 young entrepreneurs have received start-up kits through the Youth Employment Agency (YEA) to launch their businesses. The kits, including tools such as drilling machines, hair dryers, auto repair kits, and makeup kits, were distributed by Hon. Faustina Amissah, the Municipal Chief Executive for Obuasi East.Program Highlights:Comprehensive Training:The beneficiaries completed a six-month skills training program in trades such as plumbing, auto servicing, beauty care, hairdressing, and woodworking. Accredited certificates from TVET and NVTI were awarded to enhance their employability.Monthly Stipend:Participants received a GH₵500 stipend during their training, providing financial support as they acquired new skills.Empowerment through Tools:The provision of starter kits aims to empower skilled youth to establish businesses, contributing to community development and economic growth.Call for Continuity:Hon. Amissah urged support for government initiatives like Free SHS, TVET, and apprenticeship schemes, advocating for the re-election of […]

Edem 4Style November 18, 2024

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NORTHERN

SOCO Project Transforms Lives Across Northern Ghana.

In just its first year, the SOCO Project has positively impacted approximately 24,652 individuals in Northern Ghana, focusing on empowering women and fostering community development. By providing women with productive tools and materials, the initiative aims to enhance economic independence and livelihood opportunities.Key Achievements:Promoting Social Cohesion: The project fosters peace and unity, addressing the risks of violent extremism and conflict during politically sensitive periods.Youth Development through Sports: Establishing sports facilities has benefited around 8,000 youth, encouraging talent development and unity through community-based activities.Job Creation: By employing skilled and unskilled workers, the initiative has created jobs for youth, farmers, and women, boosting local economies.Education and Healthcare Investments: Classroom blocks, teacher bungalows, health facilities, and nurses' accommodations have improved access to education and healthcare for rural communities.Trade and Connectivity: New markets and feeder roads have enhanced trade opportunities, linking rural settlements to […]

Edem 4Style November 18, 2024

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