Latest news with #Accra
Bloomberg
23 minutes ago
- Business
- Bloomberg
Ghana Cuts Rates by Most on Record as Inflation Subsides
Ghana lowered the key interest rate by the most on record after the pace of inflation significantly slowed in the West African nation and is expected to ease further. The monetary policy committee cut the key rate to 25% from 28%, Governor Johnson Asiama told reporters on Wednesday in the capital, Accra. That matched the median estimate of nine economists in a Bloomberg survey. This is the second MPC meeting this month, an emergency gathering called almost two weeks ago opted to delay publicizing any policy decision until this one was held.
Reuters
23 minutes ago
- Business
- Reuters
Ghana's central bank cuts key rate by 300 basis points as inflation eases
ACCRA, July 30 (Reuters) - Ghana's central bank on Wednesday lowered its benchmark policy rate (GHCBIR=ECI), opens new tab by 300 basis points to 25%, exceeding expectations, as consumer inflation showed signs of continued decline in the gold and cocoa-producing economy. The Bank of Ghana had been widely anticipated to reduce the rate by 200 basis points to 26%, according to a Reuters poll of 10 analysts. "The committee noted that macroeconomic conditions have significantly improved. Inflation expectations are broadly anchored... and confidence in the economy is returning," governor Johnson Asiama, told a news conference. Asiama added that inflation risks are expected to be mitigated through appropriately managed monetary policy frameworks and ongoing fiscal consolidation efforts. "Given these considerations, the MPC, by a majority decision, voted to lower the monetary policy rate by 300 basis points to 25%," he said. Last month, consumer inflation dropped to 13.7% from 18.4% in May, reaching the lowest level since December 2021.
Zawya
2 hours ago
- Business
- Zawya
Ghana: Finance Minister Inaugurates National Asset Management Working Committee
The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a National Asset Management Working Committee with a mandate to identify, account for, and ensure the proper management of Ghana's public assets. Speaking at the ceremony in Accra, Dr. Forson highlighted the absence of a comprehensive State Assets Register as a major gap in public financial management. He called for urgent steps to reverse years of neglect, misuse, and unlawful occupation of government properties. He also expressed concern about the deteriorating condition of several state assets and the wanton sale of public lands, urging the committee to bring such practices to an end. The committee is chaired by Deputy Minister for Finance, Hon. Thomas Ampem Nyarko, who assured that the era of acquiring new public assets without taking stock of existing ones would be brought to an end under his leadership. The full membership of the committee includes: 1. Hon. Thomas Ampem Nyarko – Deputy Minister, Ministry of Finance (Chairperson) 2. Ms. Abigail Naa Odoi – Deputy Director, Office of the President 3. Mr. Edwin Nkrumah – Assistant Chief Estate Manager, Ministry of Works, Housing and Water Resources 4. Dr. Sylvia Adusu – Chief State Attorney, Attorney-General's Department 5. Mrs. Mavis Asare Donkor – Director of General Administration, Ministry of Education 6. Mr. Frank Raji – Director of General Administration, Ministry of Health 7. Mr. Theophilus Okine – Director of Procurement and Supply Chain, Ministry of Defence 8. Dr. Gideon Asamoah Tetteh – Director of Finance and Administration, Ministry of the Interior 9. Mr. Erya Nutsugah – Director of Policy, Planning, Budget, Monitoring and Evaluation, Ministry of Lands and Natural Resources 10. Mr. Dela Kemevor – Director of General Administration, Ministry of Local Government, Chieftaincy and Religious Affairs 11. Mr. Walter A. Adabere – Acting Director of Administration and Deputy Director, Research, Monitoring and Evaluation, Office of the Administrator-General 12. Dr. Gad Asowoe Akwensivie (Esq.) – Acting Administrator, Office of the Administrator of Stool Lands 13. Mr. Anthony Mallen Ntiador – Acting Deputy Executive Secretary, Lands Commission 14. Mr. James Bondzie – Principal Estate Manager, Public Works Department 15. Mrs. Millicent Atuguba – Acting General Manager, Operations, State Interests and Governance Authority (SIGA) Distributed by APO Group on behalf of Ministry of Finance - Republic of Ghana.
Associated Press
2 days ago
- Entertainment
- Associated Press
Panel 54 – Africa, Heard Differently: Exclusive Two-Part Interview with H.E. John Agyekum Kufuor, Former President of Ghana
NAIROBI, KENYA - Media OutReach Newswire - 28 July 2025 - Panel 54 is a bold new weekly podcast that redefines how Africa tells its story. Produced by Commex Africa and E&C Talent, and hosted by veteran journalists Waweru Njoroge (Kenya) and Ndu Okoh (Nigeria, based in Kenya), the show brings clarity and candor to conversations on power, policy, and the shifting narratives of the continent. [VIDEO] In a media landscape where African issues are often filtered through external lenses or simplified into headlines, Panel 54 provides a platform where Africa speaks for itself—and to the world. The show blends in‑studio debate, street‑level voices, and raw exchanges between its hosts. It explores the power struggles, public debates, and cultural crossroads shaping the continent, from Cape Town to Cairo, Lagos to Lamu. 'We're not here to echo what's trending. We're here to ask what's true,' says co-host Ndu Okoh. 'Our goal is to center African thought in global dialogue,' adds Waweru Njoroge. Debut Spotlight: H.E. John Agyekum Kufuor – The Gentle Giant Speaks For its premiere two‑part episode, Panel 54 travels to Accra for an in‑depth interview with H.E. John Agyekum Kufuor, former President of Ghana (2001–2009) and former ECOWAS Chair, widely regarded as one of Africa's elder statesmen. At 86, Kufuor remains sharp, passionate and deeply committed to Africa's future. In this rare conversation, he issues a rallying call to young Africans: 'Today's youth are smarter than their fathers. Africa is too young to die. It must be imbued with great hope. Please young people, keep yourselves in education. Learn. And keep open-minded so you can think through issues.' He speaks candidly about the centrality of democracy: 'People should decide their leaders. They should make their leaders and use the ballot box.' Kufuor also warns of the dangers that a multipolar world poses for Africa if the continent fails to cultivate visionary and educated leadership: 'We need smart, educated leaders—not goons in suits or military uniforms—capable of navigating global complexity without becoming pawns in great power rivalries.' During the discussion, Kufuor reflects on: · The dangers of illegal gold mining (galamsey) in Ghana, calling it a 'menace' · The importance of digital technology in advancing Pan‑African integration · His mediation work in peace processes in Côte d'Ivoire and Liberia · His legacy in education reform and healthcare development in Ghana · The importance of strategic security partnerships with the United States and other nations, handled in a way that strengthens African sovereignty rather than weakens it On Pan‑Africanism, he underlines: 'It is an imperative that must be realized. It may have seemed idealistic in Nkrumah's time, but today, through technology and digitization, African unity is more feasible than ever.' Listen, Watch and Join the Conversation Panel 54 is available now on YouTube, Spotify, Apple Podcasts, and all major platforms. Listeners can expect deep insights, authentic conversations, and vibrant audience participation through live Q&As, polls, and behind-the-scenes features. 🎧 Listen to the full interview with President Kufuor: Follow @panel54podcast on YouTube, Instagram, X (Twitter) and TikTok. About the Hosts · Waweru Njoroge – A seasoned Kenyan political editor, media strategist and newsroom leader with over 20 years of experience. · Ndu Okoh – A Nigerian-born, Kenya-based journalist and cultural commentator. Together, they bring clarity, depth and urgency to the most vital conversations shaping Africa's future. Hashtag: #Panel54 The issuer is solely responsible for the content of this announcement.
Associated Press
3 days ago
- Health
- Associated Press
Avril Biopharma acquires USP-Ghana assets, launches African vaccine manufacturing technology push
Pivoting Africa's resources to adapt to the new global pharma landscape. ACCRA, GHANA, July 27, 2025 / / -- U.S. biotechnology company Avril Biopharma said on Monday it has acquired the assets of United States Pharmacopeia (USP) Ghana and established AfriVax GH Ltd to expand its contract development and manufacturing (CDMO) business in Africa. The company offers development services using hen eggs to produce valuable clinical, veterinary and food-security products. The acquisition comes as African leaders push for greater vaccine self-sufficiency in the wake of the COVID-19 pandemic and reductions in international support for capacity building in the African healthcare space. Vaccine development milestone Avril has collaborated with Ghana's biotech community since the COVID-19 pandemic, creating a partnership between Imperial College of London, Ghana's Council for Scientific and Industrial Research (CSIR) and other partners that won a 6.5-million-pound ($8.1 million) UK Research and Innovation grant in 2023. The UKVN Chanjo Hub consortium will catalyse vaccine & biologics manufacturing in Africa in a multi-pronged demonstration project. The Chanjo Hub-Ghana group is demonstrating the end-to-end development of egg-cultured vaccines in Ghana and already has early Proof of Concept for candidate malaria, rabies and COVID19 vaccine antigens. 'Globally, hundreds of millions of doses of influenza vaccine are made in eggs every year,' said Dr. Eluemuno Blyden, Avril's CEO and inventor of its egg technologies. 'Making a malaria or Mpox vaccine using eggs would instantly benefit from decades of vaccine manufacturing technology and experience from all over the world.' Self-Reliant capacity building USP-Ghana was a full-fledged center set up to build the capacity of regulatory authorities and local pharmaceutical enterprises in Africa. Since its start in 2013, the Center has provided training to over 1,300 professionals from 45 African countries. Later, it was tapped to provide technical assistance on behalf of the Promoting the Quality of Medicines Plus (PQM+) USAID program which focused on capacity building for regulatory agencies across the Global South. The PQM+ program was closed due to changes in USAID priorities earlier this year. 'The closure of USP-Ghana's testing facilities could have been a significant loss for the African pharmaceutical ecosystem,' said Dr. Kwasi Boateng, former Director of USP-Ghana operations. 'Instead, the facility will now expand to become a key resource supporting the emerging biopharmaceutical sector in Africa.' AfriVax has already signed agreements with Ghana's DEK Vaccines Limited, and Uganda's Vaccine Access Initiative to begin development of egg-made vaccines and diagnostic API reagents. 'By using existing agricultural value chains, some of the large upfront capital investments needed for biopharmaceutical manufacturing can go directly into the local economy on day one,' said Dr. George Ansah, an Avril board member. About Avril Biopharma Avril Biopharma is a recombinant biotechnology company that can develop egg-based vaccine and biologic products using ordinary hen eggs as natural bioreactors. About AfriVax Ghana Ltd AfriVax Ghana Ltd is a Ghana company established to provide Avril's CDMO services to the biopharmaceutical industry in Africa. The company operates from facilities in Accra's Dzorwulo business district, providing development, testing, training, and regulatory support services for biopharma manufacturers. Dianne Job Avril Biopharma Inc +1 415-735-5846 [email protected] Visit us on social media: LinkedIn Instagram Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
