Business24 Newspaper 26th March, 2021

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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)

Business24 Limited. Copyright@2020 All Rights Reserved. Tel: +233 030 296 5297 Editor@thebusiness24online.net

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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