BUSINESS

Ghana will produce its first Gas from the newly arrived FPSO John Agyekum Kufuor located in the Sankofa fields in March 2018. This is because the subsea infrastructure has been put in place to ensure efficient delivery. Energy Minister Boakye Agyarko explains that government has also initiated steps to ensure the development of the entire jubilee fields. “The Jubilee field ...

None Performing Loans (NPLs) will be one of the biggest beneficiaries of the rise in minimum capital requirement. The development has been the bane of the Ghanaian financial sector for about a decade. The Bank of Ghana raised the minimum capital requirement to GH¢400 million, equivalent to about US$100 million. Commercial banks in the country have up to December 2018 ...

A deputy Commissioner of Customs Service Richard Yaotse has apologised for the challenges that have plagued the implementation of the paperless system at the country’s ports. Officials of the service Thursday had a torrid time controlling frustrated clearing agents at the Tema port four days into the implementation of the system as some were yet to get clearance for their ...

The International Monetary Fund has been petitioned by a group calling itself the Progressive Alliance Media Communicators (PAMC) over what they describe as painful developments in the financial market in Ghana. According to the group, “the government of Ghana since 7th January, 2017 has been undermining the tenets of corporate governance in almost all its activities” under the watch of ...

The power of entrepreneurs and the free market is driving Africa’s economic growth from food production, as business wakes up to opportunities of a rapidly growing food market in Africa that may be worth more than $1 trillion each year by 2030 to substitute imports with high value food made in Africa. This is the main conclusion from the latest ...

The Chief Executive Officer of McDan Shipping Company Daniel McCauley has denied any wrong doing in the GH¢10.45million loan granted to his company by the ADB. According to him, claims that he leveraged on a perceived relationship with the finance minister to secure the loan are baseless and untrue. The Minority on Tuesday accused Mr. Ofori-Atta of usurping the authority ...

The Finance Minister, Ken Ofori-Atta has dismissed claims by the minority in Parliament that he breached the country’s financial rules when he approved a loan facility from ADB to McDan Shipping Company Limited. The Minority on Tuesday accused Mr. Ofori-Atta of usurping the authority of the board of ADB in the approval of a loan facility to Mc Dan Shipping ...

A forthcoming report by the global research and consultancy firm Oxford Business Group (OBG) will chart Ghana’s efforts to enhance its investment environment through a raft of incentives and reforms. The Report: Ghana 2018 will explore the new administration’s bid to promote industrialisation, especially in the manufacturing segment, where a drive to boost capacity is under way. The key role ...

Effective Today, September 4, 2017, all agencies at the country’s ports will use the paperless clearing process after a month of piloting. The move to start a paperless regime at the ports follows a directive from the Vice President, Dr. Mahamudu Bawumia in May this year. According to the Vice President, this will curb corruption and reduce the turnaround time ...

Ghana will continue to remain under the International Monetary Fund programme for one more year, the Board of the fund has confirmed. The IMF also approved 94.2 million dollars for Ghana under the fourth review on Wednesday. This brings the total disbursement under the program to 565.2 million dollars with the remainder being tied to the remaining reviews. The IMF ...