BUSINESS

Global gross domestic product (GDP) growth could take a hit to the order of around one percent if tariff threats escalate into a trade war, S&P Global’s chief economist forecast Monday. It may not be a global recession, but “one could imagine a scenario where rather than global growth in the threes we have global growth in the twos, where ...

After some four years absence from the runway and apron at the Kotoka International Airport (KIA), Air Namibia is making a comeback. On June 29 2018 the Airbus A319-100 would be landing at KIA, propitiously, to a swanky new terminal with all the modcons of modern aviation. Air Namibia took a temporary leave of our airspace just when I was ...

President Nana Addo Dankwa Akufo-Addo says the time has come for mining companies operating in Ghana to begin producing locally many of the inputs they import. According to President Akufo-Addo, a large amount of spending by mining companies leaks from the domestic economy through the importation of several tools and equipment, which Ghana has the capacity to produce. “It is ...

Within a week after the launch of Mobile Money Interoperability, the platform recorded over 22,919 successful transfers, and more than half of that, 13,504 was on the Vodafone Cash platform. The total for the first six days stood at a little over GHC1.8 million and Vodafone alone recorded GHC1.17 million representing some 65% of the total. The daily interoperability transactions ...

The Ghana Cocoa Board (COCOBOD) has announced that it would be raising some $1.3 billion for cocoa purchases for the next crop season 2018/2019. According to a statement issued by the Board, it has also settled on 15 international banks that would help it raise the funds. They include ABN AMRO Bank, Bank of China, Industrial and Commercial Bank of China, ...

Ghana’s public debt has hit GhC145 billion as of February this year, the Central Bank has announced. The development means that the government spent about GhC3.5 billion from September to December last year, according to the latest Summary of Economic Data released by the Central Bank after a review of development in the economy by the Monetary Committee of the ...

Shareholders of Barclays Africa Group Ltd have given approval for the entity’s name to be changed to Absa Group Limited in July, setting in motion the start of one of the largest rebrand projects in Africa at this time. “The vote in support of our name change in July marks another milestone in our separation from Barclays PLC to become ...

The launch of Ghana’s first Mobile Money Interoperability Payment System is an “important milestone towards an integrated and interoperable electronic payments environment” and will have a major impact in efforts to ensure greater financial inclusion, the Governor of the Bank of Ghana has stated. Speaking at the launch of Payswitch Co Ltd, Ghana’s first private Third Party Processing Company, in ...

In a desperate attempt to kick out West Blue Consulting and GCNet, the Ministry of Trade has resorted to churning out lies to create public disaffection for the existing vendors operating single window at the ports. The Ministry of Trade which recently offered a 10-year sole sourced contract to Ghana Link and its overseas partners, CUPIA Korea Customs Service without ...

Founding President of think thank Imani Africa, Franklyn Cudjoe, has raised issues with the contract signed between the Bank of Ghana and Sibton Switch to undertake the mobile money interoperability project. “How much was the company that won the bid hoping to squeeze out of mobile money? An average of $40 million a year for the first five years. Note ...