Business Regional

There is no ‘Salmon’ fish in Ghana – Fisheries scientist

Admin Editor November 17, 2019 43 0

The fish described by most Ghanaians as Salmons are rather chub mackerels and they are highly nutritious, a fisheries scientist at the Department of Fisheries and Aquatic Sciences at the University of Cape Coast (UCC), Dr Isaac Okyere, has said. “We do not have Salmons in our tropical Read More

Business General

Ghana making great economic strides under Akufo-Addo – Ban Ki Moon

Editor Admin November 16, 2019 55 0

Former United Nations (UN) Secretary-General, Ban Ki-Moon, says Ghana is making great economic strides under the leadership of President Akufo-Addo. The celebrated diplomat made the assertion at the Jubilee House when he paid a courtesy call on President Akufo-Addo ahead of his participation in the prestigious Africa Netpreneur Prize Initiative, a Jack Ma’s flagship Read More

Business

Finance Minister justifies incessant borrowing

Admin Editor November 15, 2019 68 Post a comment

“We won’t borrow if we don’t need it.” This was a response by Finance Minister to the Minority on incessant borrowing. He explained that, if revenues are not moving as fast as it should, government will continue to supplement. The opposition National Democratic Congress (NDC) has said the ruling New Patriotic Party (NPP) is on […]Read More

Business

Nigeria to open border after Buhari, Akufo-Addo meeting – Deputy Minister

Admin Editor November 15, 2019 68 0

Deputy Minister for Foreign Affairs And Regional Integration Minister, Mohammad Habibu Tijani (MP), says Nigeria will soon open its closed borders. Africa’s most populous nation unexpectedly closed its land borders to all movements of goods, banning both imports and exports through land. Speaking in an exclusive interview with Empire News’ Emmanuel Ohene-Gyan on the Read More

Business

Ursula wants profits on ‘momo’ transactions taxed

Admin Editor November 15, 2019 67 0

The Minister of Communications, Mrs Ursula Owusu-Ekuful, is pushing for Mobile Network Operators (MNOs) to be taxed for the profit they make on mobile money transactions. At a press conference in Accra on Thursday morning [November 14, 2019, the Minister said the operators generate some GH¢71 million monthly on the transactions, yet that money remains […]Read More

Business

GNPC assesses Voltaian Basin 2D data

Admin Editor November 15, 2019 64 0

Ghana National Petroleum Corporation (GNPC) is further assessing its data acquired from a 2D seismic survey of the Voltaian Basin, a process set to be completed at the end of 2019. This further acquisition of 2D seismic data is to ensure that there is accurate data of potential oil findings, in order to reduce the […]Read More

Business

2020 Budget: We won’t overspend, pegs budget deficit at 4.7% – Ofori-Atta assures

Admin Editor November 15, 2019 49 0

Finance Minister, Ken Ofori-Atta, has reiterated assurances that government will keep spending in check-in 2020, despite it being an election year, in order not to erode the gains made in keeping the country’s fiscal balance in shape. It has become an unwritten tradition for governments to embark on massive infrastructural and social projects during election […]Read More

Business

Fallout from Dubai crunch meeting: GPHA to handle 20% of cargo

Admin Editor November 15, 2019 68 0

The management of Meridian Port Services (MPS), the concessionaire for the Tema Port, has agreed to cede 20 per cent retention of container cargo volumes to the Ghana Ports and Harbours Authority (GPHA). This is to enable the port authority to have a minimum level of business to forestall the job losses that would have […]Read More

Business

German govt supports Ghana with labour information equipment

Admin Editor November 15, 2019 49 0

The German government has presented labour market information equipment to the Ministry of Employment and Labour Relations to support the ministry to operationalise the Ghana Labour Market Information System (GLMIS). The German Ambassador to Ghana, Mr Christoph Retzlaff, handed over the items to the ministry yesterday at the opening of the Ghana-German Centre for Jobs, Read More

Business

GUTA lauds commitment to good tax regime

Admin Editor November 15, 2019 45 0

The Ghana Union of Traders Associations (GUTA) has commended the government for demonstrating enough commitment to implement good tax regimes to improve on the economy. According to the association, the 2020 Budget Statement presented to Parliament by the Finance Minister, Mr Ken Ofori-Atta, last Wednesday showed that the government was focused on reforming the tax […]Read More

Business

Ghana Gas’ demand of gas from Jubilee, TEN fields low – Tullow

Admin Editor November 15, 2019 50 0

Tullow Ghana has said there was a low demand of gas by Ghana National Gas Company in 2019, a situation that resulted in limited gas supply from the Jubilee and the Tweneboa Enyenra Ntomme (TEN) oil fields. Tullow, in a statement, said: “At TEN, gross full-year 2019 production is forecast to be around 62,000 bopd […]Read More

Business

Cedi depreciation declines following strong macro-economic fundamentals

Admin Editor November 15, 2019 43 0

The strong macro-economic fundamentals posted by the economy, has resulted in a significant decline in the rate of depreciation of the cedi. “The annual depreciation of the cedi to the US dollar between 2017 and 2019 has been the slowest since 2012.” Mr Ken Ofori-Atta, Minister of Finance, said this when he presented the 2020 […]Read More

Business

2020 revenue target set at GHC67.1bn

Admin Editor November 15, 2019 43 0

Government is projected to achieve GHc 67.1 billion in total revenue, representing 16.9 percent of GDP, in the 2020 fiscal year. This was made known by the Finance Minister, Ken Ofori-Atta, during the presentation of 2020 Budget Statement and Economic Policy, presented to Parliament in Accra. Of the total expected revenue for the period, GHc […]Read More

Business

Ayoba messaging platform, powered by MTN, reaches 1 million active users

Admin Editor November 14, 2019 68 0

MTN Group today announced that its instant messaging platform, Ayoba has reached 1 million monthly active users. Ayoba is an advanced communications application localised for African and Middle East consumer needs, under an independent Over the Top (OTT) brand with unique features for MTN customers. The app supports many local languages spoken across the MTN […]Read More

Business

‘What kind of person quotes the Bible yet hurls insults in a ‘Kasantwi’ budget’

Admin Editor November 14, 2019 89 0

The 2020 budget statement presented before Parliament by Ghana’s Bible-chomping Finance Minister Ken Ofori-Atta was full of innuendoes and veiled insults targeted at the leadership of the erstwhile Mahama administration, a former Deputy Minister of Finance Mrs. Mona Quartey has said. She wondered how Mr Ofori-Atta could, with one tongue, copiously quote The Read More

Business

Oil palm industry identifies huge export prospects in ECOWAS market

Admin Editor November 14, 2019 69 0

A Competitor Analysis report released by the Ghana Export Promotion Authority (GEPA) on the potential markets for oil palm derivatives (olein) in the ECOWAS sub-region points to potential for significant market share for Ghana’s palm oil thus indicating major export trade opportunities. Importantly, the data suggests that instead of looking for market opportunities that Read More

Business

Ghana’s debt level ‘scary’ – IFS

Admin Editor November 14, 2019 84 0

A senior researcher at the Institute of Fiscal Studies (IFS) Dr. Saeed Boakye says Ghana’s current debt level is “scary” According to him, the situation is worsened by the amount of money government spends on compensation for public sector workers. “It is very scary, the debt rate compared with revenue inflows is scary. And the […]Read More

Business

Shipping lines asked to work in the interest of shippers

Admin Editor November 14, 2019 79 0

Last week, on the Eye on Port live interactive platform on national television, Fred Asiedu Dartey, Head of Freights and Logistics at the Ghana Shippers’ Authority and Eddy Akrong, a Council Member of the Ghana Institute of Freight Forwarders outlined some challenges in doing business with shipping lines. These included, firstly, shipping lines assuming the […]Read More

Business General

‘Allow Ghanaian traders to clear goods at Nigeria border’ – GUTA

Admin Editor November 14, 2019 60 0

The Ghana Union of Traders Association (GUTA) wants the government of Nigeria to open its borders temporarily to enable stranded Ghanaian traders clear their goods at the border. According to the Association, some of its members are facing challenges in Nigeria as a result of the border closure. Nigerian President Mahamudu Buhari in August ordered […]Read More

Business

Common platform project saves Ghana $1.1m monthly – Ursula

Admin Editor November 14, 2019 57 0

Government says it is saving more than 1 million dollars monthly under the Common Platform meant to monitor the activities of Telcos than previous contracts. Briefing journalists in Accra on Thursday on some gains made since the establishment of the platform, the Minister for Communications Hon. Ursula Owusu Ekuful said the platform is also expected […]Read More

Business

CBG done well paying clients’ locked-up funds – Ofori-Atta

Admin Editor November 14, 2019 68 0

The Consolidated Bank of Ghana (CBG), according to Finance Minister Ken Ofori-Atta, has “made considerable progress in term of paying depositors whose monies were locked up” with the seven individual local banks whose licences were revoked by the Bank of Ghana (BoG) and subsequently morphed into the bridge bank in August 2018 that assumed the […]Read More

Business General

Economy under Mahama was ‘living for today’ – Ofori-Atta

Admin Editor November 14, 2019 67 0

The Finance Minister, Ken Ofori-Atta in the 2020 budget statement and economic policy indicated that the country has chalked very significant financial success in the 2019 year. According to him, in spite of the challenges which subdued the economy of Ghana, the country has come alive again due to the competent management of the economy […]Read More

Business General

Finance Minister mocked for ‘880,000 million farmers’ blunder

Admin Editor November 14, 2019 66 0

Ghanaians on social media have taken a swipe at the finance minister, Ken Ofori-Atta for his ‘880,000 million farmers’ blunder at the recent 2020 budget presentation in parliament. The quoted figure as contained in the full budget statement dubbed “Nkosuo ne Nkabom budget, was released by the finance ministry Wednesday, November 13, 2019 after the […]Read More

Business Opinion

Time Limit: How Far Back Can I Claim a Flight Compensation?

Admin Editor November 13, 2019 160 0

“My flight was delayed 6 years ago. Back then, I had no idea that I could get compensated for that. Can I still get a compensation for that flight delay?” This is what many passengers who have only recently been made aware of their air passenger rights wonder. Well, yes, you can probably still claim your cancelled or […]Read More

Business

Mahama govt suffocated businesses – Finance Minister

Admin Editor November 13, 2019 82 0

Finance Minister, Ken Ofori-Atta has blamed the John Mahama-led administration of collapsing businesses. “The economy before Akufo-Addo was suffocating, businesses were working to pay utility bills, the banks were not doing well, unemployment was high and businesses were not doing well,” he said while delivering the 2020 budget at Parliament. He said their competent Read More

Business

Ghana’s economy has seen a miraculous turn-around – Ken Ofori-Atta

Admin Editor November 13, 2019 76 0

Finance Minister, Ken Ofori-Atta says Ghana’s economy has been fixed after the government inherited a very bad economy from the erstwhile John Dramani Mahama administration. Presenting the Akufo-Addo government’s Fourth Budget and Economic Policy in Parliament on Wednesday, November 13, 2019, the Finance Minister said the incumbent government is interested in creating Read More

Business

No new taxes in 2020 – Ofori-Atta

Admin Editor November 13, 2019 71 0

The government will not introduce any new taxes in the 2020 fiscal year. Presenting the 2020 Budget to Parliament on Wednesday, the Minister of Finance, Ken Ofori-Atta, said government would restructure the tax system and develop a comprehensive revenue policy and strategy to address the challenges of revenue mobilization. He said government would also lend […]Read More

Business

We’re working to lower interest rates – Ofori-Atta

Admin Editor November 13, 2019 74 0

The government of Ghana is working around the clock to further lower interest rates in the country in order to assist businesses to grow, Finance Minister Ken Ofori-Atta has said. He told Parliament on Wednesday, 13 November 2019 during the presentation of the 2020 budget statement that there are a few structural defects in the […]Read More

Business General

NABCo a ‘political gimmick’ – Joe Jackson

Admin Editor November 13, 2019 143 0

The Chief Operating Officer (COO) of Dalex Finance, Mr Joe Jackson has described the current Nation Builders’ Corps (NaBCo) programme by the Akufo-Addo-led government as a “political gimmick”. The financial analyst was speaking on Class91.3FM’s Executive Breakfast Show (EBS) on Wednesday, 13 November 2019, ahead of the presentation of the 2020 Budget. Touching on the […]Read More

Business General

China writes off Ghana’s debt

Admin Editor November 13, 2019 90 0

The Chinese government has decided to cancel a 250 million Yuan debt owed it by Ghana. In addition, the world super power has given the government 300 million Yuan grant to assist in its development process, both totalling 550 million Yuan. This came to light at a meeting between the Chinese Vice-Premier, Sun Chunlan, and […]Read More