BUSINESS

The International Monetary Fund (IMF) has approved the disbursement of $191 million for Ghana following the completion of its fifth and sixth reviews of Ghana’s economic performance under the Extended Credit Facility (ECF) arrangement. This brings the total disbursements under the arrangement to about US$764.1 million. During the review, adjustments were made to the program to ensure that it remains ...

The Central Bank is set to put two more local banks in administration this week, Starrfmonline.com has learnt. One of the banks is linked to a popular politician while the other has ties with a famous traditional authority. According to StarrFMonline.com sources, both banks are facing acute liquidity challenges and have been unable to deal with their problems despite regular ...

An Accra High Court presided over by Justice Daniel Mensah has dismissed a preliminary application by the Food and Drugs Authority seeking to have a suit filed by the Cosmetics Association Ghana over the ban of some bleaching creams overturned. The FDA which is the second respondent in the case filed a preliminary application challenging the procedure in which the ...

Aerospace Medicine Specialist, Dr. Yakubu Akparibo, has defended Africa World Airlines (AWA) over the decision to prevent a lady living with disability, Rita Kriba, from boarding its Kumasi-bound flight on Saturday. Dr. Akparibo told Daniel Dadzie, the host of the Super Morning Show on Joy FM, Monday that International aviation standards require persons with diminished mobility to notify the flight ...

Apple shares have hit an all-time high on news that legendary investor Warren Buffett now has a roughly 5% stake in the tech giant. Shares in Apple, already the world’s most valuable company, rose by almost 4% on Friday to more than $183.7 each. Mr Buffett said his Berkshire Hathaway group bought about 75 million more shares of the iPhone ...

Uber Ghana, the local representatives of the taxi service company, says it will not adjust its 25 percent service fee their driver-partners are complaining about. Francesca Uriri, Head of Communications for Uber in Sub-Saharan Africa (SSA), explained that the cost of running the Uber app, improving driver and rider experience as well as providing the 24/7 Global Support and state ...

Chamber of Petroleum Consumers (COPEC) has expressed their readiness to furnish the Special Prosecutor with “further and better particulars” to help investigate the Bulk Oil Storage and Transportation Company (BOST) for its alleged involvement in a $5.1m “shady deal”. COPEC had alleged that BOST sold 1.8 million barrels of crude oil to BB Energy, an oil marketing company, at a ...

The Association of Ghana Industries (AGI) is calling on the government to speed up its trade facilitation reforms and support local industry to build quality standards and local production capacity for export. According to the AGI, multiple intermediaries within the port clearance system, such as West Blue Consulting, GCNet, GRA, UNIPASS, Easypass, among others defeat the country’s trade facilitation efforts. ...

MTN Ghana has announced strong service revenue growth of 29.3% year on year in the first quarter of 2018, led by a 51.5% increase in data revenue. MTN Mobile Money was a stand-out performer, accounting for 15% of MTN Ghana’s total revenue. There was good growth in subscribers in the quarter, with net additions of 484 000 to reach a ...

The recent agitations against the Ghana-United States military cooperation have reached an alarming level, with reports of a plot to blow up oil facilities in the Western Region of Ghana. According to Energy Minister, Boakye Agyarko, some disgruntled politicians have been engaging the youth of the area in an attempt to cause disaffection for the operators of the oilfields, similar ...