Business

Gov’t Using Underground Experts To Push New Agyapa Deal -Steve Manteaw, Ben Boakye, others sidelined

By Admin Editor May 6, 2021 43 0

The Government through the Minerals Income Investment Fund (MIIFe) has engaged the service of some unknown experts to hold public forums on the monetisation of the country’s mineral royalties. In what is seen as a clever attempt to get the Agyapa deal through, the underground experts are making a case for Ghana to take such […]Continue Reading

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Miners warn colleagues against flouting government directives

By Admin Editor May 6, 2021 35 0

Small Scale Miners in the Amansie West district of the Ashanti region have vowed to expose any recalcitrant miner who goes against the government’s new directives on illegal mining activities in the country. The miners say they will do everything humanly possible to ensure compliance with the directive by all members. The miners also have […]Continue Reading

Business

Fuel price hike: Don’t increase transport fares yet – GPRTU, GRTCC

By Admin Editor May 6, 2021 32 0

The Ghana Private Road Transport Union (GPRTU) and the Ghana Road Transport Coordinating Council (GRTCC) have asked their members not to increase transportation fares until further notice despite the recent hike in the prices of fuel. In a joint statement, the two unions said negotiations have already begun to determine an “appropriate fare adjustment acceptable […]Continue Reading

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Seek economic assistance from IMF to save economy from troubles – Finance Lecturer

By Admin Editor May 5, 2021 42 0

The government has been advised to seek economic assistance programme from the International Monetary Fund to bring back life into the Ghanaian economy. Former Finance Minister, Seth Tekper recently urged the government to consider a “Home Grown” or “External” programme to revitalize the economy which has been saddled with high debt and financing gap, partly […]Continue Reading

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GCB and Graphic Group to foster stronger alliance for national growth

By Admin Editor May 5, 2021 45 0

The Management of GCB Bank Ltd and Graphic Communications Group Limited (GCGL) have resolved to foster stronger alliance in the interest of the two institutions and to help propel national growth. While operating in different sectors of the national economy, the Management of the two institutions agree that collaboration will help lubricate the engine of […]Continue Reading

Business

Companies continue to export rosewood to China despite ban – Inusah Fuseini

By Admin Editor May 5, 2021 42 0

Former Lands Minister, Inusah Fuseini, says some Ghanaian companies continue to export rosewood outside the country despite a ban by government. Addressing stakeholders’ at the Joy Forum to address the illegal trade of rosewood Wednesday, the former Tamale Central MP said neither the erstwhile Mahama administration nor the incumbent government has lifted the ban Continue Reading

Business

AngloGold Ashanti welcomes Regis Resources as 30% partner at Tropicana Gold Mine

By Admin Editor May 5, 2021 40 0

AngloGold Ashanti has, after careful consideration, decided to waive its pre-emptive right over the 30% stake in the Tropicana Gold Mine, paving the way for Regis Resources to acquire the stake from current joint venture partner IGO Limited. AngloGold Ashanti owns 70% of Tropicana and is the mine’s operator. On 13 April 2021, IGO announced […]Continue Reading

Business

You’ll get all your money; don’t panic – SEC assures collapsed FM customers

By Admin Editor May 5, 2021 35 0

The Securities and Exchange Commission (SEC) has assured all affected clients of the collapsed 47 fund management companies that they will receive their money in full.  The commission has, therefore, urged them not to panic, as it is going through all the processes to ensure that they receive their money. Addressing the media on the […]Continue Reading

Business

Non-GPRTU drivers to hike fares by 40% as GPRTU considers ‘reasonable’ increase

By Admin Editor May 5, 2021 41 0

Two driver unions – Concerned Drivers Union and True Drivers Union – are rolling out a 40 per cent increase in transport fares by Monday, 10 May 2021. The PRO of Concerned Drivers Union, Mr David Agboado, justified the increment in an interview with Valentina Ofori-Afriyie on Class91.3FM’s mid-day news ‘12Live’ on Tuesday, 4 May […]Continue Reading

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Transport fares expected to go up by between 10 to 15% this Thursday – GPRTU

By Admin Editor May 4, 2021 34 0

The Ghana Private Road Transport Union (GPRTU) has disclosed that fares are expected to go up by between 10 to 15 per cent by this Thursday. According to the Union, they are currently in discussions with government and are hopeful of finalising negotiations by Wednesday for the new fares to be announced possibly on May […]Continue Reading

Business

NPA reduces fuel margins by 8 pesewas; but transport fares to go up

By Admin Editor May 4, 2021 36 0

The National Petroleum Authority has reduced petroleum margins by 8 pesewas, from the 17 pesewas earlier announced. This will however take effect from Wednesday, 5th May, 2021. At a meeting including the Energy Minister, Dr. Mattew Opoku Prempeh; representatives of the Association of Oil Marketing Companies; the NPA; Bulk Oil Storage and Transportation Company; the […]Continue Reading

Business

We’re working to fix technical challenges causing outages in Tamale – NEDCo

By Admin Editor May 4, 2021 38 0

Authorities at the Northern Electricity Development Company (NEDCO), say work is ongoing to fix the technical challenges which have interrupted the power supply to the Tamale metropolis. Parts of the metropolis have recently been plunged into darkness due to the fault. While the Ghana Grid Company (GRIDCo) resolves the challenge at Adubili-yili KV substation, NEDCo […]Continue Reading

Business

BOST reacts to IES’ demand for withdrawal of increased margins on petroleum products

By Admin Editor May 4, 2021 37 0

The Bulk Oil Storage and Transportation Company Limited (BOST) has responded to the Institute of Energy Security (IES) over the latter’s recent call for the withdrawal of increased margins on petroleum products. BOST says the IES’ explanation of the increase in the BOST Margin was a “sensationalized interpretation”. Last week, IES asked government to without […]Continue Reading

Business

Excessive borrowing: Ghana’s economy operating like a Ponzi scheme – Dr. Kofi Amoah

By Admin Editor May 4, 2021 36 0

Ghanaian businessman, Dr. Kofi Amoah has expressed doubt that Ghana’s economy will be able to grow exponentially, owing to the country’s excessive borrowing and the poor management of borrowed funds. According to him, the nature of successive governments’ handling of borrowed funds leaves the country in a more distressing situation when it could have found […]Continue Reading

Business

Barrick refers Senegal tax dispute to arbitration

By Admin Editor May 4, 2021 35 0

Canadian bullion major Barrick Gold has confirmed a tax claim by the Senegalese Revenue Authority (SRA) to the International Chamber of Commerce (ICC) for arbitration. The SRA has levied an unaudited assessment totalling $208-million for taxes it claims arose from Barrick’s sale of its interest in the Massawa project to Teranga Gold last year. Barrick […]Continue Reading

Business

Akufo-Addo backs tripartite committee’s work on new minimum wage

By Admin Editor May 4, 2021 39 0

President Akufo-Addo says the National Tripartite Committee has begun negotiations on the minimum wage for 2021. He made the announcement when he joined organised labour to mark the National May Day celebration at the forecourts of the Trades Union Congress (TUC) in Accra. This year’s celebration was marked on the theme: “Economic Recovery in an […]Continue Reading

Business

Twitter in Ghana: We’ve created a level playing field for businesses – Akufo-Addo

By Admin Editor May 4, 2021 39 0

President Akufo-Addo has touted the achievement of his government in the economic sector. According to the President, his government has created a level playing field for both foreign or domestic businesses in the country. He indicated that the coming of Twitter’s headquarters to Ghana is excellent and will enable people feel free and confident about […]Continue Reading

Business

Ecobank records 33% growth in profit in quarter one

By Admin Editor May 3, 2021 36 0

Ghana’s biggest bank, Ecobank Ghana registered a year-on-year profit of 33% in the first quarter of this year to GH¢168.2 million, its unaudited first quarter financial statement has revealed. This was as a result of significant growth in interest income, largely investments in government securities, despite the impact of covid-19 pandemic on the Ghanaian economy. […]Continue Reading

Business

Withdraw ‘insensitive’ levy hikes on petroleum margins – IES to gov’t

By Admin Editor May 3, 2021 42 0

The Institute for Energy Security (IES) has asked the government and the National Petroleum Authority (NPA) to immediately withdraw the increased levies on some margins in the Price Build-Up (PUB) of petroleum products. The amended margins include the BOST margin, Primary Distribution margin (PDM), Fuel Marking margin (FMM) and the Unified Petroleum Price Fund (UPPF) […]Continue Reading

Business

BPA warns of fraudsters; says no staff engaged in procurement offers

By Admin Editor May 3, 2021 33 0

The Bui Power Authority has cautioned the general public against engaging individuals who claim to have powers to award procurement contracts from the utility company. The Authority said it has taken note of the “activities of imposters trying to pass themselves off as staff, taking hold of our brand identity, as well as impersonating and […]Continue Reading

Business

MTN subscribers to pay more for talk, data from tomorrow

By Admin Editor May 1, 2021 36 0

MTN Ghana has adjusted its tariffs upwards effective Saturday, 1 May 2021. A statement issued by the company on Friday, 30 April 2021 said: “Scancom PLC (MTN Ghana) wishes to inform you that following the introduction of the COVID-19 Health Recovery Levy, which has resulted in a 1% increase in the National Health Insurance Levy, […]Continue Reading

Business

GCB continues impressive growth; earnings up 41% in quarter one

By Admin Editor April 30, 2021 44 0

Ghana’s second biggest bank, GCB Bank, has continued gains chalked last year, by growing its profit margin by 41% to GH¢131 million in the first quarter of 2021. According to its first quarter 2021 unaudited results, the appreciable increase in earnings was as result of growth in all its income lines, particularly interest income. Interest […]Continue Reading

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De Beers overtakes Newmont to lead ESG ranking of global miners

By Admin Editor April 30, 2021 45 0

The world’s biggest diamond producer may not be the first name that comes to mind in a ranking of top ESG performers. But that’s what the latest industry survey revealed. De Beers scored the highest in London-based Alva’s quarterly rating of environmental, social and governance perceptions this week gleaned from publicly available content from social […]Continue Reading

Business

Kumasi Airport security staff call off strike

By Admin Editor April 30, 2021 36 0

Striking workers of G7 Security Systems have returned to work after a meeting with the management of the Kumasi Airport Company and the management of the security company. The workers abandoned their post at the airport today, Thursday, 29 April 2021 and demonstrated against the management over their unpaid salary arrears and SSNIT contributions. The […]Continue Reading

Business

Barrick’s Loulo-Gounkoto’s third underground mine on track to start production

By Admin Editor April 30, 2021 35 0

The third underground mine at Barrick Gold Corporation’s giant Loulo-Gounkoto gold complex, in Mali, has reached its first mining level and is scheduled to start delivering ore to the plant during the current quarter, president and CE Mark Bristow says. A pre-feasibility study has started on two more mines on the Loulo permit – an […]Continue Reading

Business

Traders in Takoradi asked to move to new site before May 3

By Admin Editor April 29, 2021 35 0

No trading activities are expected to be conducted in and around the old Takoradi market circle on Monday, May 3, 2021. Traders in and around the Takoradi market circle have, therefore, been asked to fix, furnish and move into their allotted spaces in the temporary market. The decision is to enable the STMA to officially […]Continue Reading

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Ghana not experiencing nationwide load-shedding – Energy Ministry

By Admin Editor April 29, 2021 37 0

The Ministry of Energy has dismissed claims that the country is experiencing a nationwide load-shedding of electricity. In a statement dated April 29, the ministry indicated that the current outages only affects some parts of the country and not the entire nation as purported by the minority caucus. According to the Energy Ministry, areas within […]Continue Reading

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Kumasi Airport Security staff resume work after strike

By Admin Editor April 29, 2021 35 0

Some staff of the Kumasi Airport who laid down their tools on Thursday morning in pursuit of welfare services and payment of salary arrears have resumed work. Workers of private security firm G7 Security System embarked on a two-hour strike against management of the Kumasi Airport after months of non-payment of salaries and social security […]Continue Reading

Business

J. Atsu Amegashie writes on sustainability of Ghana’s debt

By Admin Editor April 29, 2021 38 0

In a recent speech to a Rotary Club (which has been making rounds on social media), Sam Jonah, after bemoaning Ghana’s apparently unsustainable debt accumulation, claimed that “… some economists argue that the ratio of debt servicing capacity to debt stock is a better measure of sustainability than debt-to-GDP ratio. But this is another discussion […]Continue Reading

Business

OMCs call for effective collection of new taxes

By Admin Editor April 29, 2021 37 0

The Association of Oil Marketing Companies (OMCs) is calling for an effective collection system of the new taxes introduced by the government, which take effect from 1 May 2021 to generate the needed revenue. According to the association, the taxes will be meaningless if a robust and efficient system is not adopted to collect them. […]Continue Reading