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ENERGY Jinapor outlines energy reforms as Ghana prepares new World Bank framework

Jinapor outlines energy reforms as Ghana prepares new World Bank framework

Government is positioning reforms in the energy sector as a critical pillar of Ghana’s broader economic transformation agenda, with Energy and Green Transition Minister, Dr John Jinapor, highlighting investments in power distribution, transmission and battery

ECONOMY Ghana Needs $37 Billion a Year to Close Infrastructure Gap and Manage Rapid Urbanisation, World Bank Says

Ghana Needs $37 Billion a Year to Close Infrastructure Gap and Manage Rapid Urbanisation, World Bank Says

The lender warns that flooding, housing shortages, traffic congestion and weak urban infrastructure could undermine productivity and economic growth as Ghana's cities expand rapidly. Ghana needs an estimated $37 billion annually to close its infrastructure

ECONOMY World Bank Flags Energy and Cocoa Debts

World Bank Flags Energy and Cocoa Debts

Ghana’s fragile fiscal rebound is under pressure from mounting debts in the energy and cocoa sectors, the World Bank has warned. In its latest Ghana Economic Update, the Bank said the Electricity Company of Ghana

ECONOMY COP29: World Bank, EIB pledge $120bn climate finance for Nigeria, others

COP29: World Bank, EIB pledge $120bn climate finance for Nigeria, others

A group of 10 multilateral banks, including the World Bank, European Investment Bank, and Asian Development Bank, has pledged $120 billion annually by 2030 to boost climate finance to low and middle-income countries, including Nigeria.

ECONOMY World Bank commits $9bn to agribusiness, calls for inclusive ecosystem

World Bank commits $9bn to agribusiness, calls for inclusive ecosystem

The World Bank has committed $9 billion in agribusiness investments, calling for the creation of a comprehensive global ecosystem as food demand is set to increase by up to 60 percent. The call follows the

ECONOMY Nigeria Lost $8 Billion to Forex Subsidy in Three Years – World Bank

Nigeria Lost $8 Billion to Forex Subsidy in Three Years – World Bank

The World Bank says Nigeria’s government lost N13.2 trillion because of how it managed foreign exchange between 2021 and 2023. The losses broke down like this: N2 trillion in 2021, N6.2 trillion in 2022, and

ECONOMY $17 Billion in Concessional Loans and Grants Extended to Ghana, 3 Other African Countries in 3 Years – World Bank Says

$17 Billion in Concessional Loans and Grants Extended to Ghana, 3 Other African Countries in 3 Years – World Bank Says

The World Bank has extended $17 billion in financial support to Ghana, Chad, Ethiopia, and Zambia, all of which are part of the G20 Common Framework for Debt Treatments. The funds, distributed via the International

ECONOMY World Bank’s Banga Says More Bilateral Debt Forgiveness Needed

World Bank’s Banga Says More Bilateral Debt Forgiveness Needed

World Bank President Ajay Banga said on Thursday (17 October) that bilateral creditors need to provide more debt forgiveness to poor debt-distressed countries, and that the development lender was working on ways to ease service costs to

ECONOMY “Middle-income trap” hinders progress in 108 developing countries

“Middle-income trap” hinders progress in 108 developing countries

More than 100 countries—including China, India, Brazil, and South Africa—face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, according to a new World Bank study that provides

ECONOMY Inflation to end 2024 at 23.2% but to nose dive to 11.5% in 2025 – World Bank

Inflation to end 2024 at 23.2% but to nose dive to 11.5% in 2025 – World Bank

Ghana’s inflation is expected to end 2024 at 23.2%, the World Bank has disclosed in its October 2024 Africa Pulse Report. The year-on-year inflation is however expected to take a nose dive to 11.5% in 2025.