BUSINESS

Oil prices may continue to rally past three and half year highs and all the way to $85 a barrel as soon as July, according to Pulitzer Prize-winning author and closely followed energy analyst Dan Yergin. Prices in the oil market have been steadily rising since last year, fueled by strong demand and output caps imposed by major producers aimed ...

  The Vice President of the Republic of Ghana, Dr. Mahamudu Bawumia graced the launch of PaySwitch Company Limited. In HE. Dr. Bawumia’s key note address, he lauded the Ghanaian own Fintech Company, PaySwitch, for their initiatives and effort to also contribute to the objectives of government to enhance the ease of doing business in the country using technology.   ...

Experts predict fuel costs will rise three percent in May’s second pricing window, according to the Institute of Energy Security. Reports of the increase come after three consecutive pricing windows, where rates remained steady. The slight surge could stem from a 1.33 percent depreciation of the Ghana cedi against the U.S. dollar, the IES report shows. Recent U.S. sanctions against ...

The Chief Executive Officer of African Energy Consortium Ltd, Kwame Jantuah, says the appointment of persons with no technical competences to manage the Tema Oil Refinery (TOR), is a key factor to its failure. According to Mr. Jantuah, TOR is unable to achieve maximum productivity partly because “politicians have used it as political football” without investing in it. The energy ...

The former Second deputy Governor of the Bank of Ghana, Dr. Johnson Asiama has described as ‘false’ claims by the Vice President, Mahamudu Bawumia that the Central Bank was expected to spend an amount of GHC4.6 billion into the proposed switch to interconnect mobile money transactions. Dr. Bawumia has claimed that the deal was executed for less than $4 million, a huge ...

The Securities and Exchange Commission (SEC) has named 10 operators engaged in fund management activities as being under investigation for various complaints leveled against them. The fund management companies under investigation as listed by SEC are as follows: MEC-Ellis Investment Ghana Ltd. Weston Capital Ltd. Brooks Asset Management Ltd. Kamaag Kapital Gh. Ltd. (formerly Lifeline Asset Management Ltd.) MAK Asset ...

The Managing Director of Barclays Bank Ghana, Patience Akyianu, has resigned from the Bank effective September 30. It is not yet clear reasons for resignation. The Board of the Bank has expressed their appreciation to Mrs. Akyianu for her leadership and contribution to the growth of the bank. Her resignation letter read: “It’s been an amazing journey, spending more than ...

The Quantum Global Group is building an $80 million Cocoa Processing Company to support efforts to add value to Ghana’s Cocoa. The company which will be cited in Tema is a 64 thousand metric tons plant. The Executive Director of Quantum Terminal, Emmanuel Egyei-Mensah revealed this to Starr Business at the issuing of a GHS 45 million (USD 10 million), ...

Mobile money transactions have increased by about 177 per cent between 2013 and March 2018, reaching GHc312. 93 million and valued at GHc52.35 billion transactions in March this year, Dr Ernest Addison, the Governor of the Bank of Ghana (BoG), has said. He said companies with GHc48.24 million transactions were valued at GHc5.91 billion in March 2015, whilst mobile money ...

Vice President Dr Mahamadu Bawumia yesterday launched the Mobile Money Payment Interoperability in Accra, paving the way for customers to transfer money from one mobile network to another seamlessly. They can also transfer money from their mobile money accounts with MTN, Airtel-Tigo or Vodafone to their bank accounts and vice versa. “This will make Ghana one of the global leaders ...