BUSINESS

The Minority in Parliament is calling for the interdiction of the Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Alfred Obeng, over the sale of contaminated fuel to Movenpiina Energy. According to the opposition National Democratic Congress (NDC), the transaction has led to a financial loss of Gh¢14.25 million to the State and the MD of ...

The country is on track to receive some $116 million from the Internationa Monetary Fund (IMF)  in July to support its import and export activities. This would happen after the IMF board meets in July to review the country’s performance under the FUND program. According to the IMF, Ghana has made progress in some targets, like dealing with the energy sector debts and ...

Recent news items on CBS affiliate, KHOU-TV in Houston, Texas about a plane traveling from Panama to George Bush International Airport which experienced weather-related turbulence, brought home a familiar incident involving a local airline brand in Ghana. On Tuesday, June 20, 2017, the United Flight 1031, a Boeing 737, is reported to have encountered severe turbulence in the Mexican airspace, ...

Deputy Finance Minister Kwaku Kwarteng has disclosed that the $15billion loan promised by the Chinese government will be sent to parliament for deliberation. He explained that even though an understanding has been reached with the Chinese government, “the terms governing this facility will be negotiated and that until it has been laid before parliament it will not be effective”. Following ...

The Chamber of Petroleum Consumers is demanding for the prosecution of officials of BOST over the sale of some 5 million liters of contaminated fuel. BOST had earlier sanctioned the sale of the contaminated fuel out of a number of options after considering that to be economically prudent. According to the Petroleum Chamber, a meeting convened by the National Petroleum ...

Shareholders of Agriculture Development Bank (ADB) have made drastic changes to the company’s regulations; key among them is limiting government “hold” on the bank. They also voted to allow the new board for the bank to nominate and appoint the Managing Director and Chairman of the Board of Directors. These changes to the company’s act were made at an Extra-Ordinary ...

Are you failing to plan, or planning to fail? A business plan is crucial to the success of any business. This plan is simply a step-by-step exercise in forward thinking. A sound business plan should contain crucial budgets and cash flow forecasts that show how much profit you expect your business to make, how much finance you need and the ...

The founder and Executive Chairman of the Jospong Group of Companies Dr Joseph Siaw Agyepong has been awarded Man of The Year, Business (Magnate Award) at the second edition of the Exclusive Men of The Year (EMY AFRICA 2017 AWARDS) at the Kempinski Hotel-Accra. The award was in recognition of his contribution towards Business and Development in Ghana and Africa. ...

The NPP government’s ‘One District One Factory’ initiative has received a major boost following the signing of a Memorandum of Understanding for a funding facility worth up to $2 billion between a number of Ghanaian banks and the private sector led by the Association of Ghana Industries (AGI), and the Chinese government’s private sector development corporation. Under the agreement, the ...

The Vice-President of the People’s Republic of China has announced his country’s preparedness to partner Ghana to undertake a massive transformation of her economy. Speaking at a State Reception for his Ghanaian counterpart, Dr Mahamudu Bawumia, at the Great Hall of the People in Beijing, Li Yuanchao said China stands ready to pass on knowledge, expertise and assistance to Ghana ...