BUSINESS

Professor John Gatsi, Head of Finance at the University of Cape Coast on Monday painted a worryingly grim picture for rural participation in Ghana’s economy following the revocation of the licenses of some 347 microfinance firms in the country. The Central Bank last month withdrew the licenses of 347 microfinance companies in the country to get rid of insolvent and ...

The Bank of Ghana has fined Barclays Bank Ghana an amount of GH¢4,579,256.36 for making frivolous quotes on Ghana’s Interbank Foreign Exchange Market. A statement issued by the Central Bank stated that the action is in breach of the Ghana Interbank Forex Market Conduct Rules. The statement added that the Bank of Ghana is committed to ensuring sanity, transparency and ...

The Institute of Energy Securities (IES) has predicted a marginal increase in fuel prices in June. According to the Institute, it foresees fuel prices inching more closely towards Ghs24 per gallon. This is as a result of the combination of rising international market prices and a marginal depreciation of the Cedi against the Dollar, the Institute said in its projection ...

The Ghana Beyond Committee has apologized for the use of Kenya’s skyline as cover for the Ghana Beyond Aid Charter. The document put together by a committee headed by the senior minister depicts high rise buildings over a green landscape. One of the buildings in the image has however turned out to be the headquarters of Dawit Insurance in Nairobi. ...

The Managing Director (MD) of CalBank, Mr. Frank Brako Adu has made a damning revelation, saying 40% graduates who go into the banking and financial sector have intentions to defrauding institutions to achieve quick money. The Managing Director said his figures are the result of a recent research conducted. Speaking on TV3’s monthly business show, Time With The Captains, he ...

Ghana’s leading telecommunication operator, MTN, has reiterated its resolve to keep being innovative in providing unique products and services to its existing and prospective customers. To this end, the network has hinted it is heavily investing in technological infrastructure that is in tune with the global prospects of digital services. MTN Ghana currently leads the telecom market with 13.5 million ...

The Government is currently paying more than $140 million every month for power produced by independent power producers whether the power is used or not. That’s according to the Governor of the Bank of Ghana, Dr. Ernest Addison, who was speaking at a recent Monetary Policy Committee press briefing in Accra. He said the amount is a drain on the ...

Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has explained why the government has decided to protect the interest of cocoa farmers despite unfavourable world pricing of the commodity. According to him, the government “couldn’t reduce our cocoa price because the productivity is low in Ghana and it would have caused the farmers to lose ...

The Tema high court on 16th May 2019 gave a strong ruling ordering free zones enterprises within the free zone enclave to redeem their property rate to the Kpone Katamanso Municipal Assembly within 60 days from the date of the ruling. Judge, Justice John Eugene Nyante Nyadu indicated that companies that would fail to adhere to this ruling by refusing ...

The Minister for Food and Agriculture has announced a plan to make the country self-sufficient in rice production by 2022. “Ghana currently imports about $1.5 billion worth of rice,” Dr Akoto Afriyie told the press Thursday on the back of plans to change the tide which contributes to the depreciation of the cedi. “Now rice has become a staple food, ...