Bussiness
Ghana spends $1b on importation of rice in three years – Minister
Ghana spent an estimated total of GH¢6.874 billion on the importation of rice from 2017 to 2020.
In addition, the country also imported the following food products from 2017 to 2020: They include Fish – GH¢3.993 billion, Chicken (processed) GH¢1.881 billion, Meat – GH¢487 million, Vegetables GH¢281 and Poultry GH¢184 million.
Mr Alan Kyerematen, Minister for Trade and Industry made the disclosure when he appeared before Parliament to respond to a question by Mr Murtala Muhammed Ibrahim, Member of Parliament (MP) for Tamale Central how much the state spent on the importation of rice and other foodstuffs into the country in the past four years.
Mr Kyerematen also acknowledge from the figures provided that the country was spending close to $1 billion on the importation of food items.
Responding to a question whether the government has lifted a ban on small rice importers, Mr Kyerematen stated that rice was a staple food in the country and one had to maintain a delicate balance between the quantity of rice produced locally at any point in time and what was important was to ensure that there were no serious shortages.
He said the Ministry of Trade and Industry, and the Ministry of Food and Agriculture continue to monitor the production of rice, and at the appropriate time when the volumes of local rice increase significantly the government would be able to restrict the importation of rice.
Mr Kyerematen also maintained that the government has not lifted any ban imposed on the small rice importers but the Ministry has a management policy to ensure that there were no shortages in the system.
He noted that as and when there is significant local rice production in the country the Ministry would be able to determine at that point what decision to take in respect of the ban.
Source: -GNA
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “The economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
