Ghana’s per capita income has the potential to triple by 2050 if the country implements ambitious reforms, the World Bank revealed in its 2025 Policy Notes on Ghana. The institution highlighted that comprehensive measures to boost productivity, enhance infrastructure quality, and strengthen human capital and workforce skills could support sustainedContinue Reading
Ghana has pledged to achieve universal electricity access by 2030, joining 16 other African nations in committing to National Energy Compacts under the World Bank and African Development Bank’s Mission 300 initiative. Speaking at the Bloomberg Philanthropies Global Forum, President John Mahama stressed that energy remains central to Ghana’s developmentContinue Reading
The World Bank has cautioned that commodity prices are set to fall sharply this year, by about 12%. The Bretton Woods institution attributes this to weakening global economic growth. This could have some implications for government’s projected revenue from the export of oil and gold in the 2025 budget. InContinue Reading
The price of crude oil is expected to average $64 per barrel in 2025, the World Bank has revealed in its April 2025 Commodity Markets Outlook. This is compared with $80.7 per barrel in 2024. The Bretton Woods institution is forecasting a further drop in the price of crude oilContinue Reading
Ghana’s cocoa sector, a cornerstone of the nation’s economy, has been faltering over the years with cocoa output for the 2023/24 falling to its lowest since 2016. The Ghana Cocoa Board (COCOBOD), the state-owned entity tasked with managing the industry, is grappling with financial instability, prompting the World Bank toContinue Reading
The sudden shutdown of USAID under President Trump’s executive order has dealt a significant blow to Kenya’s startup ecosystem, cutting off a crucial source of non-dilutive funding. Over the past decade, USAID’s Development Innovation Ventures (DIV) program has injected over $100 million into Kenyan startups, supporting innovations in agriculture, healthcare, clean energy, and fintech. ThatContinue Reading
Ghana’s public wage bill is putting significant pressure on the country’s finances, with the World Bank raising concerns about its impact on economic stability and growth. A recent report on Ghana’s finances warns that spending on public sector wages, debt interest payments, and statutory transfers has reached unsustainable levels, leavingContinue Reading
World Bank Vice President for Africa West and Central, Mr. Ousmane Diagana will visit Ghana from January 6 to 11, 2025. Whilst in Ghana Mr. Diagana will attend the inaugural ceremony of the swearing-in of H.E. President-Elect John Dramani Mahama. Mr. Diagana will also meet with H.E. President Mahama to discuss theContinue Reading