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<p>The Government of Ghana is giving out about 1.3 million educational tablets to students in Senior High schools, as part of the Ghana Smart Schools Project. The government will also construct 100 Smart Schools to provide modern learning environment and digital training in all 16 regions of the country.</p>


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<p>ACCRA, May 11 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s consumer price inflation accelerated to 23.6% year-on-year in April from 19.4% in March, the statistics service said on Wednesday, a recent record one economist said was &#8220;shocking&#8221;.</p>



<p>The West African nation&#8217;s latest inflation reading was the highest in 18 years and more than double government&#8217;s targeted band of 6% to 10%.</p>



<p>Prices for 295 of the 307 items analysed by the statistics service rose in April. Prices for imported items accelerated faster than locally produced items for the first time in 29 months, except in the case of locally produced food.</p>



<p>Transport costs, which include fuel prices, saw the largest increases, up to 33.5% from 17.4% in March. Diesel costs alone were up 90.9%.</p>



<p>&#8220;We were all expecting the diesel increases, and these are imported items,&#8221; government statistician Samuel Kobina Annim told a news conference.</p>



<p>&#8220;But we need to look at it from the food and non-food perspective if we want policy to get a hold of the challenges we are having,&#8221; he added.</p>



<p>Food prices were up 26.6% from the previous month and nearly double the category&#8217;s 12-month average of 13.5%. Cereal prices were among the greatest contributors, continuing a trend that began with Russia&#8217;s invasion of Ukraine in February.</p>



<p>Razia Khan, Standard Chartered Bank&#8217;s chief economist for Africa and the Middle East, said the spike was &#8220;shocking&#8221; and may pressure the central bank to further tighten interest rates.</p>



<p>&#8220;Failure to act soon could have far reaching implications, putting at risk any hopes for quick macroeconomic stabilisation,&#8221; she said.</p>



<p>Ghana&#8217;s central bank raised its main lending rate by a record 250 basis points in March, fearing that runaway inflation, compounded by a depreciating local currency and mounting national debt, could ignite a full-blown economic crisis.</p>



<p>The central bank&#8217;s monetary policy committee will meet from May 18 to March 23 to discuss further adjustments.</p>



<p>(Reporting by Cooper Inveen; Editing by Estelle Shirbon and Alex Richardson)</p>


Ghana lifts lockdown on key regions as COVID-19 cases reach 1,042

Ghana lifts lockdown on key regions as COVID-19 cases reach 1,042. shutterstock_422422516

Ghana’s consumer inflation spikes to ‘shocking’ 23.6% in April

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<p>After its Article IV Consultations with Ghana, the IMF says Ghana&#8217;s economic outlook is improving, even though risks remain.</p>


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IMF: Ghana’s economy improving, but risks remain

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<p>Italian oil major, ENI, has announced a significant oil discovery offshore Ghana, which is sited on the Eban exploration prospect CTP block 4. Meanwhile in Nigeria, the Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria will start exporting petrol in 2023. Sam Chidoka, Managing Director of Kairos Capital joins CNBC Africa for more.</p>


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Women Transforming Africa: A Conversation on Power, Policy & Inclusion

Africa Prosperity Dialogues 2025: Highlights Special

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Africa Prosperity Dialogues 2025: Business and Policy Leaders Dialogue

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Africa Business Weekly: Ghana decides 2024: Will policy reforms be sustained post election?

FOE 2024: Sustainable Education Models: Innovative and sustainable approaches to education delivery

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BADEA: Supporting Africa’s Private Sector to Own & Drive Africa’s Development & Economic Integration

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Focus On Emerging Africa ISO 26000 Certification

Ghana: Africa’s Golden Opportunity

Ghana Smart Schools Project Launch

Ghana’s consumer inflation spikes to ‘shocking’ 23.6% in April

IMF: Ghana’s economy improving, but risks remain

ENI makes significant oil and gas discovery offshore Ghana

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Ghana

Women Transforming Africa: A Conversation on Power, Policy & Inclusion

Africa Prosperity Dialogues 2025: Highlights Special

Investors mixed on Nigeria equities

Africa Prosperity Dialogues 2025: Business and Policy Leaders Dialogue

Africa’s record election year

Africa Business Weekly: Ghana decides 2024: Will policy reforms be sustained post election?

FOE 2024: Sustainable Education Models: Innovative and sustainable approaches to education delivery

Focus On: Understanding BADEA’s 2030 strategy & 2074 framework

Focus On: BADEA 50th Anniversary Highlights

BADEA: Supporting Africa’s Private Sector to Own & Drive Africa’s Development & Economic Integration

Ghana to Regain Momentum in 2025 as ECOWAS Gateway

Focus On Emerging Africa ISO 26000 Certification

Ghana: Africa’s Golden Opportunity

Ghana Smart Schools Project Launch

Ghana’s consumer inflation spikes to ‘shocking’ 23.6% in April

IMF: Ghana’s economy improving, but risks remain

ENI makes significant oil and gas discovery offshore Ghana

News Tips

Advertise With Us

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