BUSINESS

President Nana Addo Dankwa Akufo-Addo has appointed Samuel Kobina Annim as the substantive government statistician. Mr. Annim takes over from David Kombat who was in an acting position. Mr. Kombat will be returning to his former role as Director of Communication. Brief profile of Samuel Kobina Annim Prior to his appointment, Samuel Kobina Annim, was an Associate Professor of applied ...

Government has attributed the inability of some firms awarded oil blocks to meet targets to the International Tribunal for the Law of the Sea (ITLOS) ruling as it reviews dormant petroleum agreements for termination. Answering questions on the floor of Parliament Tuesday standing in the name of Adansi Asokwa MP KT Hammond, a deputy Energy minister Owureku Aidoo said five ...

Economist Kwame Pianim wants much more than talk in addressing the cedi’s challenges following the Vice President’s touting of the Akufo-Addo administration’s handling of the Ghanaian economy. At a town hall meeting on Wednesday, Vice President, Dr. Mahamadu Bawumia used the Mahama administration as a yardstick to measure the NPP’s performance. “The data on the annual rate of depreciation of ...

The financial sector crisis was predominantly caused by weakness in banking system preceded by high non-performing loans, illiquidity, weak corporate governance, undercapitalization amongst others. However, the continues insolvency in some banks due to high non-performing loans, misappropriation of funds by some top executive members resulted in their inability to meet their financial obligation to their stakeholder. The banking crisis has ...

Ecobank Ghana and GN Savings have signed an agreement for the establishment of a partnership between the two financial institutions. The agreement was signed on Friday, 29th March 2019 at the offices of GN Savings. The agreement will see the two institutions work together in areas that will be mutually beneficial to both entities. The agreement became necessary due to ...

FinTechs in both the credit and pensions space have bemoaned the challenge of existing regulations governing some aspects of financial services transactions in the country. This, they believe is stifling growth within the sector and negatively impacting efforts being made to achieve financial inclusion. This was brought to the fore at a stakeholder forum co-hosted by the Ghana Technology Chamber ...

President of the Groupe Nduom conglomerate, Dr. Papa Kwesi Nduom has debunked rumours suggesting that investment monies of clients at Gold Coast Fund Management are being used by the company beyond the shores of Ghana, resulting in challenges with the retrieval of their monies. “Some people in their frustration and anxiety have accused Gold Coast Fund Management of sending their ...

The World Bank has pledged to support Ghana in four thematic areas including; capacity building, regulatory framework, digital platforms and infrastructure enhancements as part of a Digital Infrastructure Moonshot for Africa. The pledge came after Ghana’s Communications Minister Ursula Owusu-Ekuful asked for assistance from the Bretton Woods Institution towards the expansion of the e-Transform Project and other government of Ghana ...

Depreciation of Ghana’s local currency – Cedi – can partly be blamed on Churches operating in Ghana with headquarters based outside the country, a senior technical economic advisor to the vice president said. Dr. Samuel Kwadwo Frimpong observed most of these foreign Churches convert their offertories and tithes into dollars before transferring them into forex accounts. He said a careful ...

The Ghana Chamber of Telecommunications has said mobile network operators paid a total of GH¢1.94 billion in taxes to the state and made capital expenditure of over GH¢276 million last year. This makes the mobile telecons industry one of the most important contributors to the public purse as well as being a key instigator of economic growth. The Chamber’s CEO, ...