BUSINESS

Ghana has pumped 800 million cedis ($150 million) into a special purpose vehicle created to bail out banks that don’t have enough capital, according to four people with knowledge of the matter. Ghana Amalgamated Trust (GAT) will be getting the funds from the Finance Ministry after dropping a plan to raise the money through a bond sale, said the people, ...

The French businessman leapfrogged the Microsoft co-founder after seeing his own personal fortune grow by $39 billion in 2019. There’s still money left in luxury goods. Lots of it, in fact. Need proof? LVMH Chairman and CEO Bernard Arnault just dethroned Bill Gates as the second-richest person in the world with a total net worth of $108 billion. On Tuesday, Arnault supplanted ...

The Chief Executive Officer of Ghana Integrated Aluminium Development Corporation (GIADEC), Mr. Michael Ansah, has made a positive impact in ensuring that matters are put to rest at the Ghana Bauxite Company Ltd. (GBC), in Awaso, in the newly created Western North Region. The GIADEC CEO led a delegation to pay a working visit to Ghana Bauxite Company Ltd. (GBC), ...

Arguments by former Chief Executive Officer (CEO) of Ghana National Petroleum Corporation (GNPC) Alex Mould that he did not cause financial loss to the state through the oil deals he negotiated on behalf of the country during his tenure have been challenged. Sources within GNPC have indicated that Mr. Mould left behind a ‘questionable legacy’ or ‘track record’, especially as ...

The International Monetary Fund (IMF) says its bailout program has helped restored Ghana to a rising star in Africa. In its latest analysis of the Ghanaian economy, IMF seriously indicted Mr. Mahama during whose tenure Ghana opted for the bailout for grossly mismanaging the Ghanaian economy. Analysis According to the IMF, “Ghana has been hailed as one of sub-Saharan Africa’s ...

Management of the McDan Group of Companies has debunked assertions of receiving money from the government as judgement debt. A statement signed by Dzifa Hanyabui, Human Resource Manager of the Company and copied to the Ghanaian Times yesterday also insisted that “neither the Group Chairman nor any of its subsidiary Companies has taken the government to court and for which ...

There has been a major increase in imports in Ghana three months after the government reduced import duties, Ghana Union of Traders’ Association (GUTA) has said. The government in April slashed the benchmark value for imports by 50 per cent, while the benchmark value for vehicles was also reduced by 30 per cent. Some importers including spare parts dealers hailed ...

The Ministry of Finance (MoF) has granted letters of commencement to the three development authorities to commence the full implementation of the $1-million per Constituency pledge under the Infrastructure for Poverty Eradication Programme (IPEP) for the 2020 fiscal year. The commencement certificate makes available GH¢1.66 billion (equivalent of $320 million) for the 275 constituencies across the country. This covers $275 ...

Guinness Ghana Breweries PLC has today renewed its commitment to boost customers’ profitability with the launch of a loyalty program targeting its key wholesalers, retailers and distributors across the country. Dubbed “Yɛn Nyin Mbom”, which means ‘let’s grow together’, the loyalty program will reward customers with outstanding sales performance and innovative ways that ensure products reach consumers. Speaking during the ...

The Executive Director of the Council for Technical Vocational Education and Training (COTVET), Dr Fred Kyei Asamoah, has urged the youth who want to have absolute control of themselves and make it big in life to consider making skills training as their number choice. According to the COTVET Executive Director, the job market in the global arena has changed drastically, ...