Business General

Public debt shoots up to Gh¢205.6 billion

Editor Admin September 20, 2019 29 0

Ghana’s stock of public debt increased to GH¢ 205.6 billion at the end of July 2019. The amount represents a debt-to-GDP rate of 59.4 percent, compared with 53.1 percent of GDP (GH¢159.7 billion) at the end of July 2018. Governor of the Bank of Ghana (BoG) Dr. Ernest Addison, made this known to Read More

Business

FDA issues directives on water labelling

Editor Admin September 20, 2019 26 0

The Food and Drugs Authority (FDA) has issued new labeling guidelines to all commercial water producers in the country. From October 1, 2019, all bottled and sachet water producers are to ensure that all labelling information on both primary and secondary packaging should be the same. Additionally, the name and contact details of the franchisee(s), […]Read More

Business

2020 budget to focus on industrialisation – Finance Minister

Editor Admin September 20, 2019 25 0

The 2020 budget and economic policy of the government to be laid before Parliament in November will focus on providing the liquidity to boost industrialisation in the country, the Minister of Finance, Mr Ken Ofori-Atta has assured. He said the country had gone through three years of macro-economic stability and it was now time to […]Read More

Business

Koforidua taxi drivers defer fare increase

Editor Admin September 20, 2019 31 0

Drivers in Koforidua, the Eastern Regional capital, have decided not to increase their fares in order to save their business from further declining. In an interview with the Daily Graphic, the drivers said the transport business in the capital was not booming, thus an attempt to increase the transport fares by a further 10 per […]Read More

Business

We received $4.9m from GMC not $10m – Railway Company

Editor Admin September 20, 2019 34 0

The Ghana Railway Company Limited has refuted claims that it received $10 million from the Ghana Manganese Company for the rehabilitation of the Western Railway corridor. The Deputy Managing Director of the company, Dr. Engineer Michael Ayetei Adjei, addressing a press conference in Takoradi today, Thursday said, they only received $4.9 million but the remaining […]Read More

Business

Barclays Ghana wins Market Leader Award and more

Editor Admin September 20, 2019 30 0

Barclays Bank has been named overall winner of the Market Leader Award and Best Service Overall in Ghana in the 2019 Euromoney Cash Management Survey. Commenting on the awards, Managing Director of Barclays Bank Ghana, Abena Osei-Poku said: “we are always exploring new and innovative ways to help bring possibilities to life for our customers. […]Read More

Business

Reduce taxes on LPG to increase patronage – OMCs to government

Editor Admin September 20, 2019 35 0

The Association of Oil Marketing Companies is calling on government to reduce taxes on Liquified Petroleum Gas (LPG) to make it cheaper and more accessible for Ghanaians as the National Petroleum Authority (NPA) seeks to fully roll out the Cylinder Re-circulation Policy. The policy, which is aimed at reducing and possibly eliminating LPG-related accidents and […]Read More

Business

Invest in Africa, CIPS to enhance Procurement Skills of 50 SMEs

Editor Admin September 20, 2019 25 0

Invest in Africa (IIA), a not for profit organisation committed to creating prosperous African economies, has partnered the Chartered Institute of Procurement and Supply (CIPS) to enhance the procurement skills of 50 Ghanaian SMEs. CIPS, the world’s largest organisation dedicated to the profession, will build the longterm procurement capacities of the SMEs under IIA’s Home Read More

Business

Collapse of Local Banks borne out of greed and wickedness – Isaac Adongo

Editor Admin September 20, 2019 30 0

The Member of Parliament (MP) for Bolgatanga Central constituency, Hon Isaac Adongo has singled out the Governor of the Bank of Ghana Dr. Ernest Addison for unjustly collapsing some local banks in the country, accusing him of violating key principle of public policy out of greed and wickedness. According to the outspoken lawmaker, the recently […]Read More

Business

Cedi’s drastic appreciation won’t be good for economy – Expert

Editor Admin September 20, 2019 25 0

Economist, Prof. Eric Osei Assibey has observed that a drastic appreciation of the cedi – which is highly doubtful — won’t benefit the local economy. Prof. Assibey explained that, should the cedi appreciate from its current GH¢5.51 against its major trading partner, the dollar to GH¢1 to $1, it would be detrimental to the country’s […]Read More

Business General

AGI rubbishes claims of 51% shares in PDS

Admin Editor September 20, 2019 23 0

The Association of Ghana Industries has rubbished media reports indicating that they have 51% shares in the Power Distribution Service (PDS) concession agreement which has been diverted to Enterprise Group. According to a statement copied to GhanaWeb and signed by Mr Seth Twum-Akwaboah, AGI stated that they were part of the initial stakeholder engagements over […]Read More

Business Opinion

4 Signs It’s Time To Get A Business Line Of Credit

Admin Editor September 19, 2019 72 0

As a small business, there will be times when you need money you simply don’t have. So when small business owners look for financing, a line of credit is usually a leading consideration. According to the Small Business Credit Survey, 86 percent of credit applicants seek a loan or line of credit for their business […]Read More

Business World

Huawei Mate 30 phones launch without Google apps

Admin Editor September 19, 2019 31 0

Huawei has launched its latest smartphones without many of the apps typically pre-installed on Android handsets. The Mate 30 and Mate 30 Pro both lack YouTube, Google Maps and Gmail among other software. They also do not feature Google’s Play Store, which is the normal way users outside China install third-party software on to Android […]Read More

Business

Chocolate lovers to descend on Accra for 1st African Cocoa & Chocolate Expo

Editor Admin September 19, 2019 38 0

From the 4th to the 6th October, 2019, the Ghana Export Promotion Authority (GEPA) will host the maiden edition of the African Cocoa & Chocolate Expo (ACCE) in the heart of the nation’s capital, Accra. For three days, this historic gathering would assemble and showcase innovations and achievements by entrepreneurs and change-makers in the cocoa […]Read More

Business

AngloGold Ashanti, B2Gold strike deal

Editor Admin September 19, 2019 40 0

AngloGold Ashanti has announced an agreement with B2Gold, its joint venture partner at the Gramalote Project in Colombia, whereby B2Gold will fund an investment and exploration program next year to the value of $13.9m, in order to earn back to a 50:50 partnership and assume management of the project effective 1 January 2020. “This aligns […]Read More

Business

Prosperity can only be achieved in peace – Dangote to Africans

Editor Admin September 19, 2019 37 0

Nigerian businessman, Aliko Dangote, has asked all Africans to live in peace on the continent in order to ensure the maximum economic development needed. He said prosperity can only be achieved when Africans live in peace and in unity. Speaking on the recent xenophobic attacks in South Africa, Mr Dangote said in a tweet that: […]Read More

Business

Fruits and nuts record 25.2% inflation rate

Editor Admin September 19, 2019 30 0

Within the Food and non-alcoholic beverage sub-group, fruits and nuts recorded an inflation rate of 25.2 per cent, way above the national average rate of 7.8 per cent for August 2019, the Ghana Statistical Service (GSS), has announced. Acting government statistician, Professor Samuel Kobina Annim, said at a press conference on Wednesday September 18 that: […]Read More

Business

GRA to clamp down on tax defaulters

Editor Admin September 19, 2019 26 0

The Ghana Revenue Authority will from Monday, September 23, embark on a tax compliance exercise to clamp down on corporate institutions and individuals that reneged on their tax obligations. The exercise, which is to be carried out in Accra by the authority’s revenue mobilisation task force is to enable them to collect taxes that were […]Read More

Business

Newmont Goldcorp ranked top gold miner on DJSI

Editor Admin September 19, 2019 27 0

Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) has been ranked as the top global gold mining company on the Dow Jones Sustainability World Index (DJSI World) for its leading environmental, social and governance (ESG) performance. This represents the 12th consecutive year the company has been named to the list. Newmont was the first gold company […]Read More

Business

Businesses worry over possible fuel price hike

Editor Admin September 19, 2019 28 0

Businesses in Ghana are worried that domestic petroleum prices at the pumps may soon be raised, following the sharp surge in global oil prices that have resulted from last Saturday’s drone attacks on Saudi Arabia’s biggest oil processing facilities, owned by state corporation, Aramco. Even though global market prices have fallen from the short term […]Read More

Business

Less than 1% of FDI stakeholders concerned about SSNIT benefits – Report

Editor Admin September 19, 2019 26 0

A research report by the Ghana Investment Promotion Centre (GIPC), the World Economic Forum and CUTS Ghana, has indicated that most stakeholders in FDI inflows into Ghana do not see the payment of their Social Security and National Investment Trust (SSNIT) contributions by foreign companies as an important benefit of such investment inflows, despite their […]Read More

Business

GSA, GPHA engage stakeholders on proposed tariff increment

Editor Admin September 19, 2019 29 0

The Meridian Port Services (MPS) which is a private terminal, operating the new Terminal 3 of the Port of Tema has made a proposal for an upward adjustment of tariffs on container handling. The private terminal operator is making the call for the increase in container handling charges due to what it considers to be […]Read More

Business

Cleanup: Insurance, Security sectors next – SEC

Editor Admin September 18, 2019 50 0

Ghana’s Insurance and securities sectors are soon billed to be taken to the cleaners just as what happened to the financial sector. Daniel Ogbarmey Tetteh, Director General of the Securities and Exchange Commission (SEC), disclosed this at Ghana Re’s 10th Cedant Awards on Friday in Accra. Delivering a speech on “the impact of standardization and […]Read More

Business

Finance Ministry to serve notice to Auditor General on $1m Kroll payment

Editor Admin September 18, 2019 42 0

The Finance Ministry will later this week serve notice to the Auditor General, that it intends to challenge an audit finding to the effect that payment of $1 million to Kroll and Associate was effected without evidence of work. The said finding was published in the Auditor General’s report on the account of Ministries, Departments […]Read More

Business

Inflation rate for August drop to 7.8%

Editor Admin September 18, 2019 42 0

The Ghana Statistical Service (GSS) has announced that the year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 7.8 Per cent in August 2019, with an index of 108.7. Alcoholic beverages, tobacco and narcotic (12.9) per cent was the key driver of August’s inflation. Acting government statistician, Professor Samuel Kobina Anim, explained […]Read More

Business

Akufo-Addo to launch National Plastic Management Policy October 1

Editor Admin September 18, 2019 45 0

On October 1, 2019, President Nana Addo Dankwa Akufo-Addo will announce Ghana’s agreed approach to the curtailment of plastic pollution in Ghana. The Minister of Information, Mr Kojo Oppong Nkrumah who made this known Wednesday morning said the government was partnering with the Global Plastic Action Partnership (GPAP), a new initiative created by a coalition […]Read More

Business

Gold Coast to pay clients GHS300m by end of 2019 – Nduom

Editor Admin September 18, 2019 47 0

The Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has said one of his subsidiaries, Gold Coast Fund Management (GCFM), rebranded as BlackShield, will pay GHS 300 million worth of investments to its clients before 2020. In an article titled: “Out of diversity, a golden key to the future can come” published by the businessman […]Read More

Business

Ex- workers of Expresso demand 5 years salary arrears

Editor Admin September 18, 2019 42 0

Former staff of defunct telecommunication company, Expresso are demanding their unpaid salaries which have been in arrears for that past five years. The company earlier this year lost its licence to operate. But the workers insist the company owes them several months of salary, as well as defaulting in paying workers’ SSNIT contribution. The workers, […]Read More

Business

Attempts to stain image of Free Zones boss Okyere Baafi falls flat

Editor Admin September 18, 2019 37 0

The Ghana Free Zones Authority has parried allegations regarding some internal issues at the state institution following a media report online. According to a press statement from the management of the Ghana Free Zones Authority, there is a grand scheme in motion well calculated to stain and further tarnish the image of the Chief Executive […]Read More

Business

Food prices to surge over increase in transportation – Esoko

Editor Admin September 18, 2019 37 0

Prices of foodstuff are likely to go up between two and five percent in the next couple of weeks. This is according to Commodity analyst, Esoko Ghana. According to Esoko, the increase in prices of foodstuff can be attributed heavily to the 10 percent increase in transport fares. The Ghana Private Road Transport Union (GPRTU) […]Read More