BUSINESS

Ecobank Ghana and eight local banks have partnered MTN Telecommunication to sign a GHC 510 million syndicated loan to finance infrastructure expansion in the country. Mr Dan Sackey, Managing Director of Ecobank Ghana at the ceremony in MTN House said the ceremony is a confirmation of the willingness of the banks to support the business of MTN on the back ...

Parliament on Monday approved the 2016 annual report of the Public Interest and Accountability Committee (PIAC) on the Management of Petroleum Revenues, with a call on the Volta River Authority (VRA) to settle its debt for gas supplied to it by the Ghana Gas Company. The report examines crude oil production, marketing, distribution and utilisation of petroleum revenues and makes ...

Over 150 senior well intervention experts will get together in March at the Mövenpick Ambassador Hotel in Accra to discuss their well intervention and P&A strategies in a bid to increase efficiencies and reduce the cost of both deepwater and shallow water projects. Well intervention & completions experts Ihechi Ojukwu (Chevron Nigeria), Kelechi Victor (Nigerian Agip) & Ifeanyi Ugbor (Shell ...

The Ghana Revenue Authority (GRA) has shut down Metro TV over non-payment of taxes, ClassFMonline.com, has gathered. The station was closed down in the early hours of Tuesday, 12 December. A source within the Accra-based television station said the new owners of the station, Jospong Group of companies, were not aware of certain liabilities left by the previous owners, thus ...

Mr. Eli Hini, General Manager for Mobile Financial Services-MTN Ghana, has said the outfit is working with police to thoroughly screen personnel who apply to become agents of mobile money. Mr. Hini said the agents will be thoroughly scrutinized and well-observed to ensure the safety of customers, agents, and credibility of the service. Mr. Hini announced this at the maiden ...

UniBank has secured over GH¢600million of fresh capital injection to position itself as one of the earliest banks to meet the central bank’s increased stated capital requirement, a source close to the deal has told B&FT. In a move that is expected to repose some much-needed confidence in local banks, the fresh capital – coming from a financial consortium led ...

Mining firm Goldfields is to lay off about 1,500 workers in line with the change in the module of its business. The workers are agitating over the move and are threatening a showdown with management in the coming days. The workers are likely to receive their termination letters December 13, 2017 while others will be retained on contract basis. Meanwhile, ...

The Vice President, Dr Mahamudu Bawumia has assured government readiness to give each Ghanaian a bank account. The bank account according to the vice president would be materialized beginning from January 2018. According to him, to have a digitised economy, it had become necessary for the government to support each Ghanaian youth own a bank account. Dr Bawumia, who was ...

Vivo Energy Holding has agreed to enter into a share transaction with Engen Holdings (Pty) Limited, a 100% subsidiary of Engen Limited, in relation to the purchase of shares in Engen International Holdings (Mauritius) Limited (“Engen International Holdings”) for the exchange of a shareholding in Vivo Energy, with a possible cash element. This transaction is subject to regulatory approval, an ...

Local airline, Starbow, has sacked scores of its workers. It is unclear how many workers have been dismissed, but Citi Business News has gathered that the dismissal affected top management, flight and grounds staff. A letter sighted by Citi Business News signed by the CEO of the company, James Eric Antwi, stated that contracts of workers have been terminated effective ...