BUSINESS

The food and drugs authority says it is not out to witch hunt the Angel Group of companies over the punitive action recently taken in connection with the company’s organising of an Easter Monday jam used to promote its alcoholic beverage Adonko bitters. The company has been slapped with a 25 thousand fine and an order to withdraw the product ...

The Ghana Highways Authority (GHPA), has received a proposal by a Japanese company, CLUE, Inc. to include modern technology such as high tech drones in the construction and inspection of major infrastructural works in the country. CLUE, offers an infrastructure inspection service for civil infrastructure including bridges and highway using modern technology and software. At a meeting with management of ...

The Food and Drugs Authority (FDA) has ordered the manufacturers of Adonko bitters to recall the product from the market. This is after the authority suspended the license of Angel Group of Companies the manufacturers of the bitters, slapping it with a GHs25, 000 fine for flouting regulations in organizing a concert. Photographs circulating on social media show scores of ...

The Central Bank has reacted to recent media reports which suggested that proceeds from Ghana’s bauxite exports in 2015 was not captured in its 2015 Statements of Foreign Exchange Receipts and Payments report. Officials of the bank, led by Dr Johnson Asiamah, Second Deputy Governor on Tuesday, 25th April, 2017, appeared before the Public Accounts Committee of Parliament to answer ...

Origin8, Ghana’s only true Integrated Marketing Communications Company, has been named the official event organizer for the maiden Aerospace and Aviation Exhibition for Africa to be organized from 24 to 26, October 2017. Origin8 shall represent the Organizing Committee of the African Airshow and conduct the necessary negotiations and correspondence from now to the end of the show in October. ...

Financial institutions operating in the country have with immediate effect stopped charging 17.5 percent Value Added Tax (VAT) on all financial services. The decision is in pursuant to the Value Added Tax Amendment Law (Act948, 2007). Banks such as Access Bank, Ecobank, Unibank, CAL, UMB Bank and Zenith Bank, among others, have sent text messages to their customers announcing the ...

Minister of Works and Housing, Samuel Atta Kyei, has pledged to engage the services of local architects across the country to undertake government’s infrastructural projects. The move, the minister said, is to help ensure that monies, which could have otherwise been used in hiring foreign architects, are retained in the country to execute other economic projects. Mr. Atta Kyei made ...

The Akufo-Addo government is set to issue a $2.24billion bond in the coming days to pay the huge debt burdening the country’s energy sector, Kojo Oppong Nkrumah, a deputy Information Minister has disclosed. The issuance of the bond, he said Thursday on Morning Starr, is part of efforts by government to raise money over a long profile to pay the ...

The cedi outperformed the U.S dollar and the euro but depreciated versus the British pound at the close of trading in the week ending April 21. It recorded a 1.13 per cent appreciation against the U.S. dollar as investors languished over weaker-than-expected economic data in the world’s largest economy. As a result, the local currency exchanged at GH¢4.16 versus the ...

Unhappy with the tight fiscal space government is confronted with, economic Policy Think-Tank, the Institute for Fiscal Studies (IFS) is advising caution in expenditure to forestall escalation of the fiscal deficit. Even though government has managed to create some space through its review of earmarked funds, the Institute is worried the space created is no match for the expected expenditure ...