BUSINESS

The Country Director of the World Bank, Henry Kerali says an independent media which is empowered and energized to inform and educate the public to make informed choices to help propel the growth of Ghana is needed for a successful ‘Ghana Beyond Aid’. According to him, the ‘Ghana Beyond Aid’ agenda is in line with the World Bank’s mission to ...

The Chief Executive Officer (CEO) of Dalex Finance, Kenneth Thompson, says Ghana is broke, and so government must take immediate steps to fix what he calls a “time bomb.” “Ghana is broke, let’s face up to the reality and deal with it and stop this long English,” he said on The Point of View on Citi TV on Monday. Mr. ...

The Controller and Accountant-General’s Department says it is working towards restraining public officials from buying treasury bills with state funds for personal gain. As a first step, accounts of Ministries, Departments and Agencies (MDAs) with commercial banks have been closed. “Government through the budgetary process allot funds to the various MDAs, and other State Agencies. Many who get the money ...

The public accounts of Ministries, Departments and Agencies (MDAs) for the financial year ended December 31, 2017 have revealed that the overall financial impact of weaknesses and irregularities discovered by the Auditor-General amounted to over GH¢892 million. The breakdown is: tax irregularities GH¢655 million; cash irregularities GH¢190 million; stores/procurement irregularities GH¢41 million; payroll irregularities GH¢1.7 million; outstanding loans/advances GH¢2.6 million ...

Nissan has admitted that it has uncovered falsified data from car exhaust emissions tests at most of its Japanese factories. The firm did not disclose how many cars were involved, but said emissions and fuel economy tests had “deviated from the prescribed testing environment”. The carmaker added that inspection reports had been “based on altered measurement values”. Nissan pledged there ...

More than two years after the opening of the new Komenda sugar factory in the Central region, it remains shut, with the State still spending about 200 million dollars annually to import sugar. Farmers who were encouraged to cultivate sugar cane are disappointed that government has not done enough to put the factory to work. They complain government is not ...

Vice President Dr Mahamudu Bawumia has been appointed to the United Nations (UN) Global Partnership for Sustainable Development Data (GPSDD) Board. GPSDD is a global network bringing together governments, the private sector, and civil society organizations, dedicated to using the data revolution to achieve the Sustainable Development Goals. This was announced in a press a statement issued by the Office ...

The United States Secretary for Commerce, Wilbur Ross has endorsed President Akufo Addo’s vision of a ‘Ghana Beyond Aid’. Speaking at the plenary session of the U.S-Ghana Business Forum at the Accra Marriott Hotel under the theme; ‘Strengthening U.S. – Ghana Commercial Partnership Towards a Ghana Beyond Aid’, Secretary Ross, said the United States is looking forward to a strong ...

A former Minister of Finance Seth Terkper has suggested to the Bank of Ghana to reconsider its position on the minimum capital requirements for commercial banks. Speaking on the Morning Starr on Thursday, Mr. Terkper stated the Central Bank should categorise the banks based on their financial muscles in order not to suffocate the indigenous banks. Business magnate Dr Papa ...

The Omanhene of Edina Traditional Area, Nana Kodwo Conduah IV, has called on the Ministry of Fisheries and Aquaculture to immediately lift the ban placed on fishing activities by the government. According to Nana Conduah IV, the ban is in breach of an earlier agreement the ministry struck with the fishermen to ban fishing from May to June which has ...