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By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra GHANA-  The Government through the Development Bank Ghana (DBG) is set to inject nearly GH₵1.4 billion into the financial sector to be loaned to viable Small and Medium Enterprises (SMEs). Additionally, the International Finance Corporation (IFC) is structuring a $400 million package to complement this financial support, addressing the financing gap for SMEs over the medium term. This initiative is part of a broader programme aimed at bolstering the growth and development of SMEs in the country. Finance Minister Dr. Mohammed Amin Adam announced these plans during a stakeholder engagement focused on the upcoming mid-year budget review. He emphasized the government’s commitment to engaging with Participating Financial Institutions...

By Abdul Rahman Bangura- NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– Alhaji Aliko Dangote – Chairman of the Dangote Group divulged in a presentation during a media tour around the Dangote refinery where he stated that the group schedules to evolve independently of the CBN in terms of forex sourcing. He expressed that, the group strives to change the course of its income arrangement in the cement business from the current 75% to 15% in the future. Besides, he emphasized agendas to offset earnings from EBITDA, progressing from an 80% Nigerian base to a 50% foreign base. The group likewise lobs that, hard currency revenue will account for 90% of its total revenue. The Group’s revenue according to the presentation in 2022 was placed at $5.4 billion. This tells the Group targets a...

By Abdul Rahman Bangura- NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– According to sources from the President’s Office, Boakai desired to establish a precedent for “responsible governance” and demonstrate “solidarity” with Liberians. Government paychecks have been under severe scrutiny just as Liberians kvetch about the growing cost of living. Around one in five people live on less than $2 a day in the West African state. President Boakai disclosed in February that, his annual salary was $13,400. The scrape will carry it down to $8,000. Boakai’s motion reverberates that of his predecessor, George Weah, who took a 25% cut in his salary. A modicum of West African countries have lauded President Boakai’s decision, but others wonder whether it is truly a sacrifice given that he...

By Abdul Rahman Bangura- NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– Dr. Doris Uwicyeza Picard, exemplifying Rwanda’s Ministry of Justice, maintains Rwanda’s dignity of its commitments under a contentious asylum seekers program in the UK. Despite the UK administration’s recent revocation of the initiative, Rwanda maintains it will not reimburse the £270 million already disbursed to the Rwanda Administration. The deal, geared toward grappling with UK asylum issues, saw the tiniest returns with only four failed asylum seekers willingly resettling in Rwanda. Dr. Uwicyeza Picard elucidated Rwanda’s standpoint to the BBC, stating, “We are under no obligation to provide any refund.” She recognized the UK’s judgment to discontinue the concurrence under recent leadership but...