Business

Don’t blame drivers for transport fare hikes – Agbodza

Admin Editor July 9, 2020 90 0

A Ranking Member on the Roads and Transport Committee of Parliament, Kwame Governs Agbodza, wants the government to support private transport operators. Describing them as essential workers in a Citi News interview, Mr. Agbodza said they could not be blamed for the rising transport Read More

Business

Locked-up Menzgold funds: Gov’t complicit in our suffering – Aggrieved customers

Admin Editor July 9, 2020 81 0

The Coalition of Aggrieved Customers of Menzgold has accused the government of being an “accomplice in the current suffering of Menzgold customers” and has urged its members to participate in the ongoing voter registration exercise to enable them to out the Akufo-Addo government in the 7 December polls. The Coalition reminded its members that the […]Read More

Business

GRIDCo employee tests positive for Covid-19

Admin Editor July 8, 2020 89 0

An employee of the Ghana Grid Company (GRIDCo) has tested positive for COVID-19, the company has said. A statement from the Company said they received the news on Monday. “The employee has since been isolated for treatment by the Ghana Health Service (GHS) Covid-19 Management Team, in line with the established protocols,” GRIDCo said. According […]Read More

Business

Transport fares to go up by 15% from July 11

Admin Editor July 8, 2020 81 0

Transport fares have been increased by 15 percent, effective Saturday, July 11, 2020. Deputy Transport Minister, Titus Glover in an interview with Adom News’ Abednego Asante Asiedu said government took the decision in acknowledgment of the impact the Covid-19 pandemic has had on drivers. This comes a day after the leadership of a group calling […]Read More

Business

Cocobod to temporarily close down Accra offices after workers test positive for Covid-19

Admin Editor July 8, 2020 66 0

Effective Wednesday, July 8, to Friday, July 10, the Ghana Cocoa Board (COCOBOD) will close down its head office in Accra for fumigation exercise. This has become necessary after some staff tested positive for Covid-19 following a mass testing exercise. In a press statement signed by Joseph Boahen Aidoo, the CEO of the Board, on […]Read More

Business

Enterprise Group increases 2019 dividend payments to 20% after strong performance

Admin Editor July 8, 2020 67 0

Shareholders of Enterprise Group Limited are to enjoy a 20 per cent increase in dividends paid for 2018 as the board has proposed a final dividend of 54 pesewas per share for 2019. Presenting the Groups 2019 Annual Report and Financial Statements, Chairman, Trevor Trefgarne cited the sterling financial performance of the Group as reason […]Read More

Business

‘Pandemic could push 49 million Africans into poverty’

Admin Editor July 8, 2020 65 0

The African Development Bank (AfDB) has said that 49 millions Africans could be pushed into extreme poverty by the coronavirus pandemic. The AfDB said on Tuesday that West and Central Africa stand to be most hit by the economic slump. The bank projects that the economy will rebound from the pandemic slump in 2021. The […]Read More

Business

Finance Ministry shuts down for mass testing over Covid-19 fears

Admin Editor July 8, 2020 105 0

The Ministry of Finance has been shut down effective immediately as staff undergoes a mass testing exercise for the Covid-19. According to a memo cited by JoyNews, all staff members at the site have been directed to work from home as they wait for the testing team to compile the results of samples. “In addition, the […]Read More

Business

We’ve not sold Kotoka International Airport – Aviation Ministry

Admin Editor July 7, 2020 100 0

The Ministry of Aviation has dismissed reports that it has concluded processes to cede the management of Kotoka International Airport to a foreign company. According to the Ministry, no such plan has been mooted by the government of Ghana. In a statement to clarify the issue, the sector Minister, Joseph Kofi Adda, urged the public […]Read More

Business

Kenya Airways to lay off staff, reduce network and assets – CEO

Admin Editor July 6, 2020 107 0

The coronavirus crisis has hit the global aviation industry hard, with African carriers alone expected to lose $6 billion this year in revenue. “Our short and medium-term projections indicate that we must inevitably reduce our operations before we begin to scale up again,” Allan Kilavuka wrote in the memo dated July 3, adding that the […]Read More

Business

Subsidise fuel for trotro, taxi drivers – COPEC to gov’t as price jumps

Admin Editor July 6, 2020 106 0

The Chamber of Petroleum Consumers (COPEC) has suggested that the government subside the price of fuel at the pumps for commercial drivers in the wake of the difficulties they are grappling with as a result of the social-distancing directive of the President, which has led to a reduction of the number of passengers they carry […]Read More

Business

Emirates Airlines to help evacuate Ghanaians stranded in UAE

Admin Editor July 4, 2020 176 0

Emirates Airlines is scheduled to operate periodic flights from the United Arab Emirates (UAE) to Ghana starting on Thursday, July 9, 2020. This forms part of efforts to evacuate Ghanaians stranded in the UAE due to the coronavirus pandemic. The Ghana Embassy in the USA in a statement said that “interested persons should visit the […]Read More

Business

Improve on loan recovery – Fin. C’ttee to MASLOC

Admin Editor July 4, 2020 126 0

The Finance Committee of Parliament has tasked the management of the Micro Finance and Small Loans Centre (MASLOC) to improve on its loan recovery as the scheme recovered only 55% of loans disbursed in 2019. This follows a drop of the recovery rate from 64% in 2016 to 55% in 2019. Presenting a report of […]Read More

Business

Cattle dealers at Kumasi Abattoir protest 400% increment of ‘landing fee’

Admin Editor July 3, 2020 187 0

Cattle dealers at the Kumasi Abattoir are protesting a 400% increment of what they term landing fee for each animal brought to the facility. Management of the Kumasi Abattoir increased the landing fee from ¢1 to ¢5 after a decade of non-increment. But the dealers are protesting management decision and call on them to rescind […]Read More

Business

Allow us increase fares or we’ll take full passenger capacity – GPRTU threatens

Admin Editor July 3, 2020 169 0

The Ghana Private Road Transport Union (GPRTU) is seeking either an increase in transport fares or a return to the normal capacity of vehicles pre-COVID-19. The GPRTU Vice Chairman, Robert Sarbah, said the trotro drivers, among others, had sacrificed enough. The last increase in public transport fares was in September 2019 with a 10 percent increment. […]Read More

Business

Endeavour completes SEMAFO acquisition

Admin Editor July 3, 2020 133 0

Endeavour Mining (TSX: EDV) (OTCQX: EDVMF) has announced the successful completion of the previously-announced acquisition of SEMAFO Inc (TSX: SMF), effective July 1, 2020. Pursuant to a court-approved plan of arrangement, shareholders of SEMAFO received 0.1422 of an Endeavour ordinary share for each SEMAFO common share held. As a result of the arrangement, SEMAFO has Read More

Business

Opec cuts output to lowest since 1991 as virus slams oil demand

Admin Editor July 3, 2020 119 0

Opec slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia faithfully delivered the extra curbs promised in June, and the laggards, though still trailing in implementing the cuts, stepped up […]Read More

Business

Akufo-Addo presents GHS1m to 20 young entrepreneurs

Admin Editor July 3, 2020 122 0

President Nana Addo Dankwa Akufo-Addo, has presented GHS1 million to twenty young entrepreneurs under Season Three of the Presidential Pitch, an initiative of the Ministry for Business Development. Addressing the programme on Wednesday, 1 July 2020, President Akufo-Addo stated Government understands the importance of the initiative, because entrepreneurship is a vital Read More

Business

Africa ‘lost $50bn in tourism money because of virus’

Admin Editor July 2, 2020 153 0

The African Union is warning that the coronavirus pandemic is having a devastating effect on Africa’s tourism industry. It says more than $50bn (£40bn) in revenue was lost to the continent in just three months, and some airlines may not survive. AU commissioner Amani Abou-Zeid told an online news conference with the World Health Organization […]Read More

Business

Interoperability transactions below ¢100 continue to remain free on Vodafone Cash

Admin Editor July 2, 2020 150 0

Telecommunications giant Vodafone Ghana has waived interoperability charges on transactions up to ¢100 for its customers. Whilst transactions between Vodafone Cash customers have been free since September last year without any limit; customers will continue to incur no charges when they send any amount between ¢1 and ¢100, to friends and family on other mobile […]Read More

Business

GRA grabs Chinese factory diverting government textbooks to produce toilet papers

Admin Editor July 2, 2020 167 0

The Tax Enforcement Unit of the Ghana Revenue Authority (GRA) has clamped down on an unlicensed Chinese Factory – Everyday Manufacturing Limited. The company located at the Awutu Senya Constituency in the Central Region was illegally diverting cartons of government textbooks to be recycled as Toilet Rolls. Managers of the Chinese Facility initially locked the […]Read More

Business

WTO, dev’t bank heads voice support for trade finance amid COVID-19 crisis

Admin Editor July 2, 2020 126 0

The heads of the WTO and six multilateral development banks on 1 July 2020 issued a joint statement promising to address shortages in trade finance, so that financial market stresses arising from the COVID-19 crisis do not prevent otherwise-viable trade transactions, including for essential goods such as food, drugs and medical equipment. They committed to […]Read More

Business

Fidelity Bank bags GHS322m profit with GHS10.48bn balance sheet – “largest”, “biggest” in Ghana

Admin Editor July 2, 2020 133 0

Fidelity Bank Ghana recently held its 2020 Annual General Meeting (AGM) via a virtual platform for its shareholders to receive and adopt the reports of the directors, auditors and the financial statements for the year ended 31 December 2019. At the meeting, the bank announced a 33% increase in profit before tax to GHS322 million […]Read More

Business

COVID-19 impact on MSMEs “severe” but there’s hope – Dep. BoG Governor

Admin Editor July 2, 2020 126 0

The Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi, has said even though the micro, small and medium enterprises (MSMEs) has been hit hard by the COVID-19 pandemic, there is still hope for recovery. Delivering the keynote address at the ENGINE Business Network’s MSMEs forum, Mrs Awadzi acknowledged that over the years, […]Read More

Business

Ecobank holds 32nd AGM, shareholders approve resolutions

Admin Editor July 2, 2020 126 0

Ecobank Transnational Incorporated (ETI), the parent of the Ecobank Group, the leading pan-African bank with banking operations in 33 countries, concluded its 32nd Annual General Meeting (AGM) & Extraordinary General Meeting in Lagos, Nigeria, on Tuesday, 30 June 2020. For the first time in the history of ETI and in line with preventive measures to […]Read More

Business

#BlackLivesMatter: How to Support Black-Owned Small Businesses

Admin Editor July 1, 2020 200 0

Black Lives Matter is affecting the world in a profound way, bringing the plight of African Americans into the limelight. Its effects are far-reaching, and it is occurring in tandem with the COVID-19 pandemic to make it even more difficult to run a successful business.  Below, we will outline the implications and demonstrate how to help Black-owned […]Read More

Business

Harmonising West Africa’s increased electricity generation with climate objectives

Admin Editor July 1, 2020 149 0

The United Nation’s Department of Economic and Social Affairs estimates that there will be 1.3 billion more Africans by 2050. From 2017 to 2050, it is expected that half of the world’s population growth will be concentrated in just nine countries: India, Nigeria, the Democratic Republic of the Congo, Pakistan, Ethiopia, the United Republic of […]Read More

Business

COVID-19: Consistency, leadership critical in ensuring economic recovery – WTO Chief

Admin Editor July 1, 2020 130 0

Consistency and leadership are critical in ensuring quick economic recovery following the coronavirus pandemic, the Director-General of the World Trade Organization (WTO), Roberto Azevêdo has said. Mr Azevêdo noted that some of the measures outlined by countries to deal with the effects of the coronavirus pandemic on the economy are beginning to yield results, He […]Read More

Business

Trade growth slowed in 2019 – WTO report

Admin Editor July 1, 2020 140 0

The World Trade Organization (WTO) has said in its latest report, which covers new trade and trade-related measures implemented by G20 economies between 16 October 2019 and 15 May 2020, that trade growth slowed in nominal terms in 2019, as the dollar value of merchandise exports fell by 3 per cent to USD 18.89 trillion. […]Read More

Business

Natural gas price plunge could soon lead to shut-ins

Admin Editor June 29, 2020 168 0

Natural gas prices plunged to new lows this week, falling below $1.50/MMBtu, a catastrophically low price for U.S. gas drillers.  The factors afflicting the gas market are multiple. Prices had already fallen below $2/MMBtu at the start of 2020, weighed down by oversupply. But it wasn’t a problem confined to the U.S. There was also a […]Read More