BUSINESS

The National Petroleum Authority (NPA) has fined nine oil marketing companies GHS2,215,000 for engaging in illicit Third-Party trading of petroleum products, and unlawful lifting of petroleum products. The companies are Bello Petroleum, Jas Petroleum, Oval Energy, Kros Energy, Safety Petroleum, Santol Energy. The rest are Riseglobe Energy, Sayon Energy and Cigo Energy. A release issued by the NPA directed that ...

Some banks in the country have begun suspending loans, particularly to new customers. This follows the increase in the policy rate by the Bank of Ghana to 24.5%. Joy Business understands that some of the foreign banks operating in the country have sent emails to their Relationship Managers and Officers to put on hold lending to new customers. Lands For ...

Businesses usually have their own set of demands and challenges which span sectors and industries and are common among different companies and organizations. All businesses strive to maintain a top-quality relationship with their customer base, to keep their brands relevant and to make their employees happy. Small business owners must always find new ways to keep their businesses afloat and ...

Sasan Saedi has become the new leader of the International Advertising Association (IAA) following the expiration of the tenure of Joel Nettey as Chairman and world President. Joel Nettey, a Ghanaian and the first African to lead the network of marketing and marketing communications professionals was sworn in virtually two years ago. His leadership saw Accra play host to the ...

The enforcement team of the Ghana Revenue Authority (GRA) has locked the Chinese retail shop, China Mall, and its warehouses on the Spintex Road and Ashaiman in the Greater Accra region. The action, follows the inability of the company to fix their tax electronic collection system to enable the GRA access the data. The GRA on October 1, 2022 started ...

The International Monetary fund(IMF) is set to deploy another mission to Ghana in the coming weeks, Gerry Rice, the Director of Communications for the IMF said at a media engagement. “We had an IMF staff team in Accra in July to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kickstarted the process, and laid ...

The Ghana Cocoa Board (Cocobod) is sinking into deep debt, the 2021 Auditor-General’s report has revealed, noting that the burden was as high as GH¢12.3 billion as of the 2019/2020 financial year. Section 90 of the Public Financial Management Act, 2016 (Act 921) stipulates that the governing body of a public corporation or state-owned enterprise shall establish and maintain policies, ...

The Chief Executive Officer of the MacDan Group of Companies, Mr Daniel McKorley, has expressed hope that the Songhor salt project at Ada in the Greater Accra Region, will earn Ghana more Dollars after export to help shore up the local currency. He made this comment while speaking in an interview with TV3’s Paa Kwesi Asare on the Business Focus programme ...

Leading online betting and gaming company betPawa have provided IT equipment to the Gaming Commission of Ghana for the creation of a Responsible Gaming Call Center at the Commission. The action forms part of the company’s responsible gaming agenda. They want to help educate people on the need to see betting as a form of entertainment and only bet what ...

Businessman Seidu Agongo and his company, Agricult, did not cause any financial loss to the state by supplying the Ghana Cocoa Board (Cocobod) with Lithovit Liquid Fertiliser, a cocoa farmer who benefitted from the agrochemical, has told Justice Clemence Honyenuga’s court. According to Mr Thomas Amo Amankwaa, the fertiliser was a “great saviour” to cocoa farmers and must be brought ...