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Fitch downgrades Ghana’s sovereign debt to ‘Restrictive Default’

Fitch Ratings has downgraded Ghana’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘RD’ from ‘CCC’. It has also downgraded to ‘CC’ from ‘CCC’ and subsequently withdrawn the issue ratings on five local-currency bonds issued prior to the domestic debt exchange. It affirmed the issue rating of local-currency bonds issued on the completion date of the domestic debt exchange at ...

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GES interdicts Fijai SHS headmaster over illegal fees

The Ghana Education Service(GES) has interdicted Mr. Kenneth Agbomodze, Headmaster of Fijai Senior High School with immediate effect over alleged illegal fees collection in the school. This was contained in a statement issued by the GES on Tuesday, April 18. He has been asked to hand over the administration of the school to the Western Regional Director of Education. The ...

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G7 urges warring factions in Sudan to ‘immediately’ halt fighting

G7 foreign ministers on Tuesday urged warring forces in Sudan to “end hostilities immediately” and return to negotiations, after clashes that have killed almost 200 people. A weeks-long power struggle exploded into deadly violence Saturday between the forces of two generals who seized power in a 2021 coup: Sudanese army chief Abdel Fattah al-Burhan and his deputy, Mohamed Hamdan Daglo, ...

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Fire incident at Ahafo South Mine laboratory brought under Control

A fire incident that occurred at the onsite laboratory at Newmont Africa’s Ahafo South mine on Sunday, 9th April, has been brought under control.  According to the mining giants, no fatalities or injuries were recorded. “We are relieved that the incident did not result in any injury or fatality to the workforce who remain our most important resource. Everyone is ...

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It’s going to be difficult to get IMF bailout by end of April – Bokpin

A Professor at the University of Ghana Business School (UGBS), Godfred Bokpin, says the global geopolitics is affecting “vulnerable” countries like Ghana, making the application for a bailout from the International Monetary Fund (IMF) difficult. Prof Bokpin said the West African nation needs assurances from its bilateral and multilateral partners before the IMF’s Executive Board can be convinced to approve the request for the ...

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Bondholders petition Akufo-Addo over non-payment of matured bonds

The coalition of Individual Bondholders Forum has petitioned President Nana Addo Dankwa Akufo-Addo over the non-payment of matured bonds that were not tendered under the Domestic Debt Exchange Programme. In a petition, the Coalition made up of the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana expressed sadness that despite several assurances by the government, it had ...

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Make Sign Language an official language in Ghana -GFD

The Ghana Federation of Disability Organizations (GFD) has intensified its calls for the government to consider making sign language an official language in the country. This proposal, the organization argues, could be achievable if sign language is incorporated into the country’s core educational curriculum from basic up to the tertiary levels. “We believe that sign language could be made an ...

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Zimbabwe to criminalise foreign recruitment of health workers

Zimbabwe’s Vice-President, Constantino Chiwenga, announced that the country intends to introduce a law that would make it illegal for other nations to recruit its health workers. The move aims to prevent the loss of valuable healthcare professionals to other countries, which has been a long-standing issue for Zimbabwe’s healthcare system. Mr Chiwenga, who is also the health minister, stated that ...

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GWCL starts exercise to recoup GH¢800m arrears

The Ghana Water Company Limited (GWCL) has started a nationwide revenue mobilization exercise to collect all arrears owed by customers. The company is out to collect about GH₵800 million in debts as of January this year, up from GH₵684 million in debts that stood on the company’s books as of January 2022. This was when in September 2022, the Public ...

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Times are hard, review your expenditure – Akpeloo tells govt

Executive Member of the Association of Ghana Industries (AGI) Tsonam Akpeloo has told the government to review some of the areas it is spending revenue. He said times are hard therefore the government must review its expenditure to reflect the realities. Speaking on the Ghana Tonight show on TV3 Wednesday, April 5 in connection with the three revenue bills – Excise Duty, ...

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