BUSINESS

Ghana’s Debt-to-GDP ratio has dropped to 57.2% , according to the Monetary Policy Committee of the Bank of Ghana. In the 2016 Annual Progress report, Ghana’s Total Debt to GDP ratio stood at 73.1% at the end of December, 2017 with year on year debt accumulation rate of 36% in the erstwhile administration. The situation resulted in an increasing interest ...

Newmont Mining Corporation has commenced commercial production at the Subika Underground project, adding higher-grade, lower-cost gold production at the Ahafo mine in Ghana. Subika Underground represents Newmont’s third profitable expansion in 2018 and its tenth completed project since 2013. Subika Underground was delivered on schedule and within budget for approximately $186 million in development capital. Beginning in 2019, Subika Underground will ...

A research report on the cost of education and health by a consortium comprising Ghana Integrity Initiative (GII), Ghana Anti-Corruption Coalition (GACC) and SEND-Ghana revealed that about 30 percent of the nation’s Gross Domestic Product (GDP) is lost to corruption, as 70 percent of Ghanaians have attested to experiencing corruption in education and health. The report indicated that about 60 ...

Some Mobile Network Operators (MNOs) are said not to be in favour of government’s decision to access mobile money transaction data through the Common Platform (CP) of the National Communications Authority (NCA). Fearing that the CP will expose them, they are allegedly working to have the contract withdrawn. According to sources at the NCA, some telcos have been allegedly under-declaring ...

The Chief Executive Officer of MTN Ghana, Selorm Adadevoh, has said the telecommunication company will comply with the recent sanctions imposed on the company and three other telcos by the National Communication Authority (NCA). The NCA fined all four Mobile Network Operators (MNOs) in the country a total of GHS34,065,000.00 for poor quality of service. AirtelTigo, Glo, MTN, and Vodafone ...

TV3’s Bridget Otoo has added her voice to the current issue facing gold trading firm Menzgold. According to the newscaster, the embattled firm owned by Nana Appiah Mensah has been a scam from day one. She made this known when she shared a screenshot of YEN.com.gh’s report which indicate that the BNI will be investigating the activities of Menzgold. Bridget ...

After a somewhat ‘protracted’ disagreement between embattled gold collectibles dealership firm, Menzgold Ghana Limited and its customers over the percentage to be paid to them on their principals, the company has reportedly started paying the initial percentage to its customers. It would be recalled that customers of Menzgold Ghana Limited had initially rejected a proposed 15 percent payment on their ...

Some customers of gold dealership firm, Menzgold Ghana Limited, whose investments are locked up with the firm, have threatened to smoke out the company’s chief executive Nana Appiah Mensah from his hideout to retrieve their funds. The aggrieved customers on Wednesday issued a seven-week ultimatum to the firm and have vowed to use every means necessary to retrieve their funds, ...

Visa, the global payments technology company and Vivo Energy, the company that markets and distributes Shell-branded fuels and lubricants in Africa, have announced a Pan African agreement to provide digital payment services to consumers across 15 African countries, where both companies operate. The partnership is geared towards growing digital commerce and will offer more Visa acceptance points in selected sites ...

Finance minister Ken Ofori Atta has said people who invested with troubled gold firm, Menzgold, were motivated by greed. “I know the SEC has come down hard, strong and justifiably on Menzgold. But the issue with a company of Menzgold, as I look at the Ministry of Finance and I see some people who are at the Ministry of Finance ...