BUSINESS

An energy expert has questioned the Finance Ministry’s move to unfreeze bank accounts of Power Distribution Services (PDS) Ghana Limited. Kwame Jantuah does not understand why the Ministry is taking steps to unfreeze the accounts when the reasons given by the Energy Ministry before suspending the concession with PDS still holds. “The Energy suspended PDS based on a law – ...

The Institute of Fiscal Studies (IFS) has raised serious concerns over government’s decision to raise an additional GH¢6.3billion through borrowing to finance its expenditure for the rest of the year, saying “the fiscal policy path the country is on is unsustainable”. In its post-budget analysis, the policy think-tank said considering the country’s current revenue situation, there is no way other ...

The Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has said the delay by the government in paying local contractors, some of whom, he said, are customers or investors, has led to the lock-up of GHS2.2 billion from the Groupe’s Gold Coast Fund Management, alone. “When we keep fighting for Ghanaian contractors to be paid, we are fighting for customers/investors ...

Papa Kwesi Nduom, the founder of GN Bank, which was recently downgraded to a Savings and Loan Company, says the challenges confronting his business is being resolved. He said some of the challenges such as the delay in the payment of workers’ salaries have already been solved. The businessman has been under pressure over the past few months following the ...

Transport operators in the country are scheduled to meet on Friday, August 2 to deliberate on whether to increase transport fares following the announced increment in the Energy Sector Levy effective today. Finance Minister Ken Ofori-Atta while presenting the 2019 mid-year budget review to parliament on Monday announced increment in the levy with the view to raising the needed revenue ...

Chief Executive Officer of the Ghana National Ghana Gas (GNG), Dr. Ben Asante has stated that it is impossible for a country to industrialise without sustainable, reliable and affordable power supply and that, gas has become the fossil fuel choice for the future and not other hydrocarbons. According to him, because of the role gas plays in industrialisation drive, Ghana ...

In line with its commitment to deliver effective partnership to drive business growth in the country, Guinness Ghana Breweries PLC has paid a courtesy call to Dr Ibrahim Mohammed Awal, Minister of Business Development. The courtesy call, led by Sylvia Owusu-Ankomah, Corporate Relations Director of Guinness Ghana Breweries PLC explored ways in which the firm can collaborate with the Ministry ...

A financial analyst, Mr Joe Jackson, has said Ghanaians have been plunged into tough times following the hike in some taxes as announced by Finance Minister Ken Ofori-Atta in the Mid-Year budget review earlier this week. The government proposed to increase the Energy Sector Levies by GHp 20 per litre for petrol and diesel and GHp 8 per kg for ...

The National Lottery Authority (NLA) will on Tuesday launch a new exciting game onto the market. The game dubbed: “Super 6 Game” would be launched alongside the VAG Lotto in order to boost the revenue generation capacity of Government through the NLA as well as create jobs. The Super 6 is a dividend game where players have the opportunity to ...

DON’T RUSH TO PRAISE ALL OF AFRICA’S “POPULAR” BUT FISCALLY UNSUSTAINABLE PROGRAMS Introduction Context is 2019 Mid-Year Review and need to be realistic about the fiscal prospects for the country—based on past views in interviews and articles. A general call on those who relate to Africa and its leaders not to ingratiate or praise all “popular policies and initiatives”, even ...