In business this week, the Minister of Finance, Dr. Mohammed Amin Adam, apologized to Ghanaians for the difficulties they have faced due to the Domestic Debt Exchange Programme (DDEP).
He mentioned that the ruling New Patriotic Party did not intend to impose economic hardships on the citizens, as the DDEP was a necessary measure imposed to stabilize the ailing economy.
Additionally, in the cocoa sector, it was revealed that the Cocoa Processing Company (CPC, a state-owned enterprise, continued to face significant financial difficulties with mounting losses incurred on its books.
In the first half of 2024, the company recorded a loss of $9,568,898, an increase from $9,155,700 in the same period in 2023, representing a 4.5 percent surge in losses.
This past week, the government officially commissioned the Royal Ghana Gold Refinery in Accra.
The refinery has the capacity to refine 400 kilograms of Dore gold per day, allowing it to process all the gold exported from Ghana over 300 working days annually.
The state-of-the-art facility is set to enhance the value of gold exported from Ghana by refining it to 24 carats, 99.99% purity, matching the quality of a good delivery bar (LBMA standard).
These and many more stories have made headlines this week.
This week's BizHeadlines was hosted by Mawuli Ahorlumegah.
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