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FRIDAY MARCH 26, 2021
BUSINESS24.COM.GH
NO. B24 / 176 | NEWS FOR BUSINESS LEADERS
FRIDAY MARCH 26, 2021
Expert warns rising piracy could drive up freight cost
GRA, GIPC key to achieving Ghana Cares— Ofori-Atta
By Joshua Worlasi Amlanu macjosh1922@gmail.com
F
inance Minister-designate Ken Ofori-Atta has identified the Ghana Revenue Authority (GRA) and the Ghana Investment Promotion Centre (GIPC) as institutions that are key to the achievement of the GH¢100bn Ghana Cares “Obaatan pa” programme initiated by government. Cont’d on page 3
Time to explore deep waters for oil, says Amoako-Tuffuor Dr. Kamal Deen wants security agencies to have direct access to government funds for retooling and augmenting their capacity
By Patrick Paintsil p_paintsil@hotmail.com
M
ore kidnappings took place in the Gulf of Guinea in the first two months of 2021 alone than the entire first quarter of 2020, as piracy and other sea-related crimes continue to bedevil that stretch of the Atlantic Ocean.
Executive Director of the Center for Maritime Law and Security Africa (CEMLAWSAfrica), Capt. (Rtd) Dr. KamalDeen Ali, said the rate of piracy and crime could make the region insecure for ships, which could increase the cost of freight to shippers. “Aside putting lives at risk, increased piracy in the Gulf
ECONOMIC INDICATORS EXCHANGE RATE (INT. RATE)
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POLICY RATE
14.5% 14.77%
OVERALL FISCAL DEFICIT
11.4% OF GDP
AVERAGE PETROL & DIESEL PRICE:
Cont’d on page 2 INTERNATIONAL MARKET
US$1 = GHC 5.7606
GHANA REFERENCE RATE PROJECTED GDP GROWTH RATE
region also means cost of international trade in the subregion would continue to soar to unbearable levels. Not only will insurance on ship increase but also insurance on crew, and that will mean higher freight charges that will have to recovered on imports.”
4.2% GHC 5.13
BRENT CRUDE $/BARREL NATURAL GAS $/MILLION BTUS GOLD $/TROY OUNCE
affulbenson@gmail.com
T
he secretary to the government’s Economic Management Team (EMT), Prof. Joe Amoako-Tuffour, says it’s time the country did more exploration of oil in deep waters if it still wants to remain an oil producer.
Cont’d on page 3
Follow us online: $57.79 $2.6801,922.57 $1,836.62
CORN $/BUSHEL
$543.75
COCOA $/METRIC TON
$123.55
COFFEE $/POUND:
By Benson Afful
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