Business

Businesses urged to invest in technology

Admin Editor May 20, 2019 20 0

The use of technology cannot be overemphasized as it has been stressed at this year’s Ghana CEO Summit that business owners must ensure that they do not lag behind the ongoing technological evolution. With the world already catching up through genomics, materials science, and robotics, Read More

Business

Gov’t targets cashless system

Admin Editor May 20, 2019 37 0

The government is set to roll out a cashless system in its operations after a pilot of the programme yielded good results. Vice President Mahamudu Bawumia told patrons at the 4th Ghana CEO Summit Monday that, the electronic payment system at the Tourism Ministry has increased revenue by four-fold. Stating the intent to extend it […]Read More

Business

Set up special courts for financial cases – BOG boss

Admin Editor May 20, 2019 22 0

The Governor of the Bank of Ghana (BOG), Dr. Ernest Addison has asked the judicial service to establish special courts to deal with the adjudication of financial cases associated with the financial sector reforms undertaken by the Central Bank. According to the governor, the slow pace at which the judicial service handles financial cases is […]Read More

Business

Customs offers importers big deal

Admin Editor May 20, 2019 28 0

The Customs Division of the Ghana Revenue Authority is offering an opportunity to importers whose import duties were determined just before the reduction in benchmark values to re-present their documents for revaluation. The measure means that people whose goods have not yet been cleared can enjoy lower duties. The Customs Classification and Valuation Report (CCVR) […]Read More

Business

1% GDP to go into research – Osafo-Maafo

Admin Editor May 20, 2019 23 0

Ghana’s Senior Minister, Mr Yaw Osafo-Maafo, has charged researchers in the country to ensure that they contribute their quota to the development of the nation by producing timely research results. Speaking at the 60th-anniversary celebration of the Council for Scientific and Industrial Research (CSIR) in Accra, Mr Osafo-Maafo said the researchers ought to do more, […]Read More

Business

Salt importation stifling local salt wining industry

Admin Editor May 20, 2019 22 0

Some artisanal salt winers are lamenting about salt importation into the country, a situation they say is threatening their livelihood. Leader of the Ada Songor Salt Cooperative, Aaron Larweh Hushie said the excessive importation does not favour the local salt producers in the country. He said government’s decision to subsidize imports on salt from Brazil […]Read More

Business

Delays in resolving financial issues in court affecting banks – Bankers Association

Admin Editor May 20, 2019 17 0

The Ghana Bankers Association is calling on the Judicial Service to expedite the adjudication of financial cases. According to the association, slow judicial processes have partly contributed to the high non-performing loans in the country. The Ghana Bankers Association laments that one of the major factors that led to the challenges in the banking sector, […]Read More

Business

Gov’t considering tax on mobile money – George Andah

Admin Editor May 20, 2019 22 0

Deputy Minister of Communications George Andah has said that government is strongly considering slapping a tax on the fees and commissions mobile money companies earn from individual transactions. Mr. Andah speaking at the Ghana Digital Roadmap levent ast week said it should be possible for government to explore revenue opportunities in the mobile money ecosystem […]Read More

Business General

Google restricts Huawei’s use of Android

Ama Serwaa May 20, 2019 24 0

Google has barred the world’s second biggest smartphone maker, Huawei, from some updates to the Android operating system, dealing a blow to the Chinese company. New designs of Huawei smartphones are set to lose access to some Google apps. The move comes after the Trump administration added Huawei to a list of companies that American […]Read More

Business

Rising inflation rate could derail economic targets – Prof. Quartey

Admin Editor May 20, 2019 37 0

Professor of Economics at the Institute of Statistical Social and Economic Research (ISSER) Professor Peter Quartey, has expressed concern about the rising inflation rate in the country. From the beginning of the year, the Consumer Price Inflation (CPI) rate has risen consecutively on 3 occasions. The CPI, which measures the change over time in the […]Read More

Business

Uncertainty over 2020 elections to pressure cedi – EIU

Admin Editor May 20, 2019 20 0

The Economist Intelligent Unit (EIU) has indicated the cedi will continue to lose value against major trading currencies, especially the US dollar, due to uncertainty over the 2020 general elections and low confidence in the financial sector. In its country report on Ghana for May, the EIU said the cedi will further depreciate by at […]Read More

Business

Employment Minister visits Meridian Port Services

Admin Editor May 20, 2019 25 0

The Minister of Employment and Labour Relations, Ignatius Baffuor Awuah, has paid a working visit to the new mega container terminal of Meridian Port Services to inspect the progress of work and evaluate jobs created at Tema Port. He led a delegation which comprised Chief Director of the Ministry of Transport, Twumasi-Ankrah Selby and Peter […]Read More

Business

Ecobank Ghana launches PayZone at Osu

Admin Editor May 20, 2019 20 0

Ecobank Ghana’s initiative to promote a cashless system is yielding the desired results with more than 15,000 merchants signing on to the digital product, EcobankPay Zone. The digital product, which is designed to promote financial inclusion by leveraging the rising trends in mobile usage across the country, is expected to improve convenience in payment of […]Read More

Business

2.3 million dollar electrification project commissioned at New Abirem

Admin Editor May 20, 2019 22 0

Mr William Owuraku Aidoo, the Deputy Minister of Energy in-charge of Power has commissioned a $2.3 million electrification project aimed at improving the economic fortunes of residents in the New Abirem Constituency. The project connected 25 rural communities across the constituency to electricity and is expected to benefit over 2000 inhabitants of the area. Among […]Read More

Business

Ghana’s cocoa products attract Chinese interest at Hangzhou Expo

Admin Editor May 20, 2019 18 0

The Ghana’s stand at the International Tea and Coffee Expo in Hangzhou, China was the toast of hundreds of Chinese, as they visited the stand to have a taste of the cocoa products on exhibition. On the day set aside to honour Ghana, the Ghanaian stand was visited by the Chinese Minister for Agriculture and […]Read More

Business

Vodafone promises ‘solid support’ for Ghana music despite ‘unfortunate’ VGMA brawl

Admin Editor May 20, 2019 20 0

Title sponsor of the Ghana Music Awards, Vodafone, has said it will continue supporting the music industry despite a scuffle between two rival artistes on Saturday. The telco giant said in a statement Sunday that although the scuffle that ensued on stage is regrettable, it acknowledges that a large number of players in the industry […]Read More

Business

Gov’t shifts 10 percent renewable energy target to 2030

Admin Editor May 18, 2019 50 0

In 2011, Ghana passed the renewable energy act to anchor other policy positions of the country on renewable energy. Key amongst them was a target of 10 percent renewable energy in the electricity generation mix of the country by 2020. However, this target period has been reviewed and extended to 2030. Currently, the country depends […]Read More

Business

Fido increases maximum loan amount to GHC1,000

Admin Editor May 18, 2019 42 0

The Fido instant loan offering has taken a notch higher, with the public now been offered the opportunity to access up to GHC1000 instant loan right on their smart phones, without any collateral nor guarantor. In a statement to announce the increase Friday, May 17, the company explains the decision as one that became necessary […]Read More

Business

Upward revision of benchmark values false – GRA

Admin Editor May 18, 2019 48 0

The Ghana Revenue Authority has debunked rumours circulating on social media that benchmark values on imports have increased. In a statement released to Ghanaweb and signed by the Commissioner General of GRA, Emmanuel Kofi Nti said prices of products still remain unchanged stating that reports making rounds indicating the upward revision of the benchmark should […]Read More

Business

Economic gains risk decline from revenue shortfalls – Ishmael Yamson

Admin Editor May 18, 2019 42 0

The low domestic revenue mobilisation to finance economic growth risks leading the country into accumulating more debt, which can derail macroeconomic gains. It could also force the government back to the International Monetary Fund (IMF) for support, a management consultant and Board Chairman of MTN Ghana Limited, Mr Ishmael Yamson, has told the Daily Graphic […]Read More

Business

Ghana marks Telecommunications Day

Admin Editor May 18, 2019 53 0

Ghana has joined the rest of the world in the celebration of 50th anniversary of the World Telecommunications and Information Society Day (WTISD). This year’s WTISD celebration took place on Friday, May 17, in Accra, under the global theme: ‘Bridging The Standardization Gap.’ The flags of Ghana, United Nations and the International Telecommunications Union (ITU) […]Read More

Business

Communications Ministry to stop importation of fake phones in Ghana

Admin Editor May 18, 2019 45 0

The Ministry of Communications has warned of an imminent crackdown on the activities of illegal operators in the telecommunication industry. A Deputy Minister of Communication, Mr George Andah, who gave the warning, said the crackdown would be targeted at halting the importation of fake mobile phones into the country and subsequent evasion import duties. “Out […]Read More

Business

Kumasi Metro to partner Media General to grow SMEs

Admin Editor May 18, 2019 42 0

The Kumasi Metropolitan Assembly has expressed its readiness to partner Media General in growing Small and Medium Scaled Enterprises in Ghana. This, the assembly believes is key for national development. The Mayor of Kumasi Metro, Osei Assibey, speaking to Grace Hammond Asare during Media General’s Start-up and Funding Summit in Kumasi, said the assembly has […]Read More

Business

Ecobank Ghana defer dividends payment for 2018 to strengthen capital

Admin Editor May 18, 2019 44 0

Ecobank Ghana says, meeting the Minimum Capital requirements is not the end of capital growth for the bank as it continues to be the leading financial services provider in the country. To this end, despite an increase in profit for the year 2018, the bank has decided to hold on to dividends payment for shareholders. […]Read More

Business

Ghana to recruit more banks to market its domestic bonds

Admin Editor May 18, 2019 46 0

Ghana will recruit more banks to market its domestic bonds as the West African nation seeks to boost demand and lower borrowing costs. Currently, five financial institutions, known as book runners, arrange and price the country’s medium-term domestic debt. That will be expanded to a new structure known as the bond market specialist group, Deputy […]Read More

Business General

Anglogold deserves Ghanaian Managing Director – Apinto Chiefs

Admin Editor May 18, 2019 48 0

The chiefs and elders of Apinto Divisional Council in the Western Region are pushing for Ghanaian Managing Director at Anglogold Ashanti (Iduaprim Mine). The opinion leaders according to our sources believe that qualified Ghanaian professionals are not being treated fairly since they are always overlooked when it comes to the appointment of a Managing Director […]Read More

Business

Akufo-Addo gov’t deal with US oil firm shady – PIAC

Admin Editor May 17, 2019 59 0

The Chairman of the Public Interest and Accountability Committee (PIAC), Dr. Steve Manteaw, has accused the New Patriotic Party Government of employing obscurantist tactics in a 2017 oil deal with American multinational oil and gas corporation, ExxonMobil. At a recent forum in Accra, he pointed out that the sole sourced contract was deliberately stonewalled from […]Read More

Business

COCOBOD hands over irrigation system to farmer

Admin Editor May 17, 2019 44 0

The Chief Executive of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has officially handed over an ultra-modern solar powered irrigation system to a cocoa farmer. The system has been installed on a 30-acre cocoa farm owned by Solomon Tahola at Assin Fosu, in the Assin North Municipality of the Central Region. It would enable […]Read More

Business

Smuggling of petroleum products reduces

Admin Editor May 17, 2019 43 0

The fight against the smuggling of petroleum products has yielded positive results, as the menace has not been recorded since the beginning of the year. The country lost close to GH¢1 billion in revenue to petroleum smuggling activities in 2017 because of miscreants who brought in petroleum products in vessels which docked on the high […]Read More

Business

Newmont Ghana is now Newmont Goldcorp Ghana

Admin Editor May 17, 2019 54 0

Ghana’s leading gold producer, Newmont Ghana, has welcomed the successful completion of the transaction creating the world’s leading gold company, Newmont Goldcorp, and looking forward to a safe and orderly integration. The transaction closed on 18 April, 2018, and the Company’s business in Ghana is now called Newmont Goldcorp Ghana. “Newmont Goldcorp features an unmatched Read More