BUSINESS

The Ghana Employers’ Association (GEA), has said government needs to consider broader policy issues that could potentially compel businesses to dismiss workers in the wake of current job layoffs. Between July and August this year, an estimated 1800 people lost their jobs as a result of bank-takeovers by the BoG. In 2017, the collapse of UT and Capital Bank affected ...

Over 4000 Petroleum tanker drivers across the country have threatened to redraw their services starting Monday until the National Petroleum Authority (NPA) addresses their concerns. The drivers for the past months have raised concern relating to their working conditions and welfare. According to them, failure of NPA to ensure full implementation of the Petroleum Producers Transportation Delivery Retail and Loss ...

Gold revenue in Ghana is expected to soar following a new deal between the Precious Minerals and Marketing Company (PMMC) and British gold firm Baird & Co. Ltd. The agreement will see international gold firm Baird set up an international gold assay center in Accra. The centre when set up is expected to help determine prices of Gold according to ...

The Ministry of Trade and Industry (MoTI) has pleaded with spare parts dealers at Abossey Okai in Accra, not to go on their planned demonstration against the government. Deputy Minister Carlos Ahenkorah, said on Wednesday, 19 September 2018 that measures are being put in place to deal with their concerns, hence, there will be no need to hit the streets. ...

Vice President, Dr. Mahamudu Bawumia has revealed that Akosombo Textile Limited (ATL) will be charged to produce 100,000 uniforms for graduates under the Nation Builders Corp (NABCO). According to the Vice President, the initiative will ensure the sustainability of the company and also encourage the culture of accepting made in Ghana products. “ATL for example was dead. It was shut ...

In what appeared to be a pre-election push for NPP in 2020, Vice President Mahamudu Bawumia spoke to a packed audience reemphasizing his commitment to strengthening Ghana’s economy. “A strong economy expands opportunities and allows individuals to venture into new territories,” said Bawumia at the Ghana Industrial Summit in Accra Tuesday. “We cannot develop a strong economy if we don’t ...

Embattled gold trading firm Menzgold has extended the suspension on the payment of dividend and activities regarding its gold vault to September 28,2018. The initial suspension was to expire today, Wednesday September 19. In a statement Menzgold said: “Following our correspondence with the Securities and Exchange Commission (SEC), we regret to advise that the Gold Vault Market product services will ...

The Bank of Ghana has approved merger talks between OmniBank Ghana Ltd and the Sahel Sahara Bank. The two banks wrote to the Central Bank on August 14 about their intention to begin merger talks in order to meet the GhC400 million minimum capital requirement before the close of 2018. In a response, the BoG said: “The Bank of Ghana ...

South African Union Solidarity said it will sign a three-year gold sector wage deal with AngloGold Ashanti on Monday along with Association of Mineworkers and Construction Union (AMCU), without providing further details of the agreement. Gold producers have argued that above-inflation wage hikes have been adding to the cost burden in the bullion industry, which has been hit by depressed ...

The country’s fiscal deficit will improve to 4.5 percent for the full year 2018 –a situation that is expected to continue to end year 2020, Ridle Markus, Africa Strategist, ABSA, South Africa, has predicted. The country’s fiscal position has shown some improvement, as fiscal balance, including grants, as a percentage of Gross Domestic Product (GDP) improved from -9.3 percent in ...