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Business

$280m T-3 thermal plant idle

The $280-million Takoradi-3 (T3) thermal plant in the Aboadze Power Enclave in the Shama District in the Western Region has been left idle for about six years due to operational failures.After its inauguration in April 2013, the plant worked for about six months, generating between 60 and 70 megawatts (MW) of power, before it broke […]Read More
Business

February records 9.2% CPI inflation rate

The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to 9.0% recorded in January 2019, a Ghana Statistical Service (GSS) report has indicated. According to the GSS, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. Acting Deputy Government Statistician, […]Read More
Business

NEDco to raise $200m to improve on operations

The Northern Electricity Distribution Company (NEDco) says it is raising over $200 million in the form of grants and concessionary loans to improve on its operations. This follows the inability of the company to access a $54-million grant from the Millennium Challenge Corporation (MCC) of then United States to build its delivery capacity for efficient […]Read More
Business

We are clearing arrears from 2018 – GCFM

The Management of Gold Coast Fund Management (GCFM) a subsidiary of the Groupe Nduom has announced their commitment in ensuring that all arrears of their customers since 2018 are cleared from this Month going forward. In a statement signed by the General Manager, Investor Relations and External Affairs, Benjamin Afreh and copied to GhanaWeb states […]Read More
Business

Gov’t of Ghana to meet investors

Ghana will meet investors later this week to gauge appetite for its proposed sale of as much as $3 billion in Eurobonds, according to two people familiar with the matter. Officials will organize meetings in Boston, New York and London from Wednesday, said the people, who asked not to be identified because they’re not authorized […]Read More
Business

Databank not collapsing – Management

The management of Databank has dismissed rumours that the financial institution is “unable to pay withdrawals.” The fund management outfit said the claim is “mischief meant to create unnecessary panic.” “Databank has never, at any point in its history, failed to honour its obligations to its customers. We have a proven track record and strong […]Read More
Business

GCNet supports GRA to increase revenue

The Ghana Community Network Services Limited (GCNet) has presented Four Hundred and Fifty laptops valued at $247,000.00 to the Ghana Revenue Authority (GRA). This forms part of GCNet’s  commitment to support the GRA and Government of Ghana to increase the country’s revenue generation for accelerated economic development. The laptops will facilitate operations of field Read More
Business

Oxford Business Group launches 2019 publication on country’s economy

The regulatory reforms and other measures aimed at strengthening Ghana’s financial sector, which include stricter capital requirements, new issuances and plans to deepen the capital markets and encourage their wider use among the population are explored in the latest annual report from the global research and consultancy firm Oxford Business Group (OBG). The Report: Ghana Read More
Business General

GRA boss Kofi Nti sacked

The Commissioner-General of the Ghana Revenue Authority (GRA), Mr Emmanuel Kofi Nti and two other commissioners have been fired, Daily Mail GH can confirm. The other affected commissioners are Isaac Crentsil, commissioner for customs, and Kwasi Asante Gyimah, in charge of domestic tax. Top government officials say Nti has been informed officially about the decision […]Read More
Business

GREDA pushes for review of Ghana’s Mortgage Act

The Ghana Real Estate Developers Association (GREDA) has asked for a review of the Home Finance Mortgage Act, 2008(Act 770) to help promote and develop the mortgage sector. An amendment, the association stated, should make it simple and unambiguous for easy interpretation and application for stakeholders who consist of the judiciary and law enforcements agencies. […]Read More
Business

Mondelez presents working tools to cocoa farmers

A global chocolate manufacturing company, Mondelez International, through its Cocoa Life Programme, has presented items worth GH¢546,000 to community animators in some selected districts in the country. The 900 community animators are farmers and other players in the sector who have been trained by the company to educate cocoa farmers on ways to improve on […]Read More