BUSINESS

The National Association of Private Lotto Operators and Agents in Ghana led by Mr. Frank Adjei, a successful businessman resident in Kumasi has shown the commitment and preparedness to fully support the successful roll out of Otumfuo Lottery Game initiated by the National Lottery Authority (NLA) to raise funds to support Otumfuo’s Charity Foundation. The Association is the largest group ...

Just a year after its launch, Mobile Money Interoperability—a system that makes mobile money transactions among different networks possible—has hit GH¢95.88million in value for the first quarter of 2019, the Payment Systems Statistics report published by the Ghana Interbank Payment and Settlement Systems (GHIPSS) has revealed. The report, published by the Ghana Interbank Payment and Settlement Systems (GHIPSS), shows that ...

The Minority in Parliament has said Ghana is one of the countries with the “highest debt distress risk” following the country’s ballooning public debt stock. Ghana’s public debt stock currently stands at a total of GH¢ 200 billion in the first quarter of 2019 of the 27 months of the Akufo-Addo led administration. Addressing the media on Thursday, the Minority ...

Former deputy Attorney General Osei-Prempeh has been appointed acting Managing Director and Group Chief Executive of GOIL Company Limited. The appointment took effect from June 3, a statement by GOIL said. Mr. Osei-Prempeh, a lawyer, has been a Board Member of GOIL since 2017. He takes over from Mr. Patrick Akorli who has taken his leave prior to retirement after ...

The introduction of the Single Window Application Platform reduced the issue of under declaring at the port. Under declaring happens when importers quote lower prices of goods imported to warrant lower duties. The single window application platform is a web application hosted centrally on a web server with a centralized database server. West Blue implements this solution to help automate ...

The shareholders of uniBank have filed for an injunction against the auctioning of some assets of the bank by the Receiver, Nii Amanor Dodoo. This is after the Accra High Court judge presiding over the case in which the Directors of uniBank are contesting the revocation of the bank’s license appointed an arbiter, ex-Supreme Court Judge, Justice Dateh Baah, to ...

The Bank of Ghana will soon descend on the savings and loans sector as part of measures to clean up Ghana’s banking space. The central bank is currently going through processes to come up with a plan to clean up the savings and loans sector just like it has done in other categories within the banking sector. Speaking on Point ...

A Financial Economist, Dr Lord Mensah has expressed doubt about the ability of the receiver of the now defunct 347 microfinance companies, to be able to pay all the affected depositors their full principals in addition to their interests. The Bank of Ghana (BoG) had earlier indicated that it had secured about one GHC 1 billion to begin sanitising the ...

Eight years of oil production in Ghana has come to an end and, as usual, the Fair Trade Oil Share (FTOS) – PSA Campaign Team, under the auspices of the Centre for Natural Resources and Environmental Management (CNREM), has the painful task to present to Ghanaians, sovereign owners of the oil resources, our independent report on how Ghanaians are being ...

Over 2000 permanent staff of the collapsed Microfinance Companies will lose their jobs, Executive director of the Ghana Microfinance Institution Network, Yaw Gyamfi, has revealed. This comes after the Bank of Ghana (BoG) revoked the licences of 347 insolvent microfinance companies due to liquidity challenges. Out of the number, 192 were insolvent but in operation while 155 had ceased operations. ...