BUSINESS

The African Development Bank has approved a US$15 million senior loan to GHL Bank PLC., which focuses on mortgage finance to enhance its mortgage loan portfolio and help develop an effective, affordable mortgage finance sector. Ghana’s lower-middle and middle-income earners will now have greater access to long-term affordable mortgage finance. GHL Bank PLC was previously the only specialised mortgage finance ...

MTN Ghana has launched its Initial Public Offer (IPO) for subscribers and stakeholders in Western Region at Takoradi. “We are listing our shares to meet conditions agreed in 2015 when we acquired the right for the 4G license,” Mr Eli Hini, MTN Ghana General Manager of Mobile Money has said. According to him, the company has made a history as ...

Ghana sold GH¢477.6 million worth of a fresh 10-year domestic currency bond on Thursday and will pay a yield of 17.5 percent, transaction arrangers said. The issuance, open to foreign investors, attracted offers worth GH¢523.2 million cedis, Barclays Bank Ghana said in an email to Reuters. Initial pricing guidance for the paper, which matures in May 2028, was set at ...

The CEO of the Ghana Cocoa Board, Joseph Boahen Aidoo, has insisted that there can only be cocoa sustainability if the industry agree to pay farmers commensurate price for the products. According to him, there can not be any other means of sustaining the industry if stakeholders turn a blind eye to the issue of realistic price. The cocoa board ...

Micro-financial services provider, Bayport Savings and Loans has disclosed it will be raising GH¢300 million through the issue of a corporate note on the Ghana Stock Exchange (GSE) after the required regulatory approval from the regulators of the capital markets. Speaking at the GSE’s Facts behind the figures, Managing Director of Bayport, Nii Amankra Tetteh stated the company will be ...

The Minority in Parliament has accused the government of doctoring figures in order to reduce the country’s public debt stock. According to the NDC MPs, the Akufo-Addo led administration added some GH¢28 billion to the debt stock in 2017. The Finance Minister Ken Ofori-Atta last year stated that government through prudent management of the economy successfully reduced the country’s debt ...

The Chief Executive Officer of the Ghana Export Promotion Authority Gifty Klenam and the managing director of the Ghana Ports and Harbours authority are on their way out of office, sources in government have told Starrfmonline.com. The move is seen as part of efforts by President Akufo-Addo to rid government agencies of what seems to be a cycle of boardroom ...

The free-to-air private television station is said to have refused persistent warnings by the Ghana Revenue Authority (GRA) to pay the amount, said to be taxed from 2014 to 2018. Officials from the GRA stormed the premises at Labone where all workers were ushered out from the building and the offices placed under lock and key, TV3’s Nuong Faalong reported ...

Plans by the government to have a private entity manage the affairs of the Electricity Company of Ghana (ECG), as part of a compact agreement with the Millennium Challenge Corporation (MCC), will have to clear another legal hurdle before taking effect. On June 8, 2018, the Commercial Division of the Accra High Court will rule on an interlocutory injunction seeking ...

The Minister of Finance, Mr Ken Ofori-Atta, is challenging portions of the judgement delivered by the Commission on Human Rights and Administrative Justice (CHRAJ) which said he had not fully declared his assets. Mr Ofori-Atta is praying the High Court to grant an order of prohibition directed at CHRAJ from carrying out investigations into a case of non-disclosure of all ...