BUSINESS

The Akufo-Addo government has assured, it will revive the Komenda Sugar factory after it was shut down last year for reasons blamed on the former government’s poor economic judgment. Deputy Trade Minister Carlos Kingsley Ahenkorah told Joy News, government is ‘working frantically’ to get operational, a $24m factory which worked for barely 4 weeks after it was commissioned. Tema West ...

The Dynamic Youth Movement of Ghana (DYMOG) has petitioned the Security and Exchange Commission (SEC) over a $2.25 billion bond issued by the government. DYMOG wants the Commission’s Hearing and Administrative Committee to investigate circumstances surrounding the raising of the Bond by the Ministry of Finance which it believes is shrouded in secrecy. The Ministry of Finance has come under ...

Employees in Ghana’s informal sector have been given a flexible opportunity to enroll on a Pension Scheme. The move is not only to secure their future but also to help rope more people into the pension space. Ghana currently has about 12 million people in the informal sector. As a result Dusk Capital, Vodafone and People’s Pension Trust have collaborated ...

The World Bank has blamed Ghana’s relative high cost of power on the adoption of sole sourcing in the granting of power purchase agreements under the past NDC administration. The Bank has also warned of some economic consequences following the country’s inability to sell off its excess power due to the high cost. The World Bank was compelled to cut ...

Ghana is one of the best aviation regions in West Africa, that according to International Air Transport Association (IATA). The country carries the second highest number of passengers in West Africa after Nigeria and this is in spite of the fact that Ghana has no airline of substance dedicated to flying in the region or intercontinental. The achievement is due ...

Prices of fuel in the second pricing-window for the month of April 2017 recorded some form of stability at the pump in reference to Petrol and Diesel. The stabilization in prices was as a result of stiff competition for market share among the various Oil Marketing Companies (OMCs). Gasoline and Gasoil sold at GHS3.99 per litre and GHS3.95 per litre ...

Notwithstanding the current economic and socio-political uncertainty, numerous companies in Africa are still positive about the growth potential of the continent. PwC research across the continent shows that 91% of CEOs are confident about their own companies’ growth prospects in the medium term. “This is the highest level of confidence since we started our research on CEOs in Africa in ...

Feed the Future, an initiative by the United States government has mobilized more than $115 million in private sector investment for Ghana’s agricultural productivity, boost incomes, and link farmers to market and trade opportunities, Melinda Tabler-Stone, Chargé d’affaires, US Embassy has said. According to her, the US government is aware that the growth of commercial agriculture in Ghana is constraint ...

JOYBUSINESS is reliably informed that government is expected to extend programme with the International Monetary Fund (IMF) which should be ending in April next year. The likely extension sources say has been influenced by the previous administration’s inability to achieve the deficit target and implementation of key structural reform measures. According to a source close to government, “it was clear ...

Newmont Africa has announced plans to build a new underground mine and expand processing capacity at its Ahafo operations by more than 50 percent. According to the Regional Senior Vice President – Africa operations, Alwyn Pretorius, the expansion will extend sustainable and profitable production at Ahafo. “We have secured the required environmental permits and resources to self-fund a new underground ...