BUSINESS

Ghana’s central bank raised interest rates by the largest margin in a generation on Monday in a bid to slow rampant inflation that threatens to create a debt crisis in one of West Africa’s largest economies. The Bank of Ghana raised its main lending rate by 250 basis points to 17%, the biggest hike in more than 20 years, signalling ...

Youth Empowerment Consortium (YEC) has stated that passage of the electronic transaction levy (e-levy) will worsen the already precarious economic woes of the Ghanaian youth. The controversial 1.75% proposed e-levy was announced by Ghana’s finance minister Ken Ofori-Atta in the 2022 budget read last year with aim to “widen the tax net and rope in the informal sector”. However, the ...

Lands For Sale In Acres at Aburi Amanfrom, Watch the video Below; The Ghana Investment Promotion Centre (GIPC) has denied paying for the draping of the Burj Khalifa in Ghana’s national colours on March 8, 2022. This is in reaction to reports on social media platforms that the Centre paid for the lighting of the tallest building in the world ...

The Management of Freedom Coin has described as premature the Bank of Ghana’s statement on their planned Coin launch. Freedom Coin was announced at the Black Star Square on Ghana’s Independence Day, 6th March 2022. In a statement, the Company explained that after the announcement, “however, there were no specifics given about what the product was going to be and ...

The Bank of Ghana (BoG) has warned Ghanaians against trading in the yet to be launched cryptocurrency named “Freedom Coin”. “The public is hereby cautioned that neither this cryptocurrency nor the promoting company has approval from Bank of Ghana to operate in the banking and payment sector. Lands For Sale In Acres at Aburi Amanfrom, Watch the video Below; “In ...

Tullow Oil plc, the independent oil and gas exploration and production group, has announced its full-year results for the year ended 31 December 2021. CEO Rahul Dhir, Chief Executive Officer of Tullow Oil plc, said: “Following a transformational 2021, in which Tullow successfully refinanced its balance sheet, drilled highly productive wells in Ghana and demonstrated operational excellence and financial discipline ...

Members of the Traders Advocacy Group Ghana (TAGG) have expressed worry over the long silence of Vice-President Mahamudu Bawumia over the free fall of the cedi. “Now, a businessman needs as much as GHS760,000 to get a $100,000 for business but not too long ago a businessman needed GHS640,000 for $100,000”, the group lamented. According to TAGG, in less than ...

The Minister of Energy, Dr Matthew Opoku Prempeh, on Wednesday, 2 March 2022, inaugurated the newly constituted Board of the Tema Oil Refinery (TOR). Mr David Kwame Tandoh Adomakoh is the Chairman with the new members being Mr Jerry Kofi Hinson (MD), Nana Akua Bakoma Prempeh, Prince Hamidu Armah, Prof. Albert Ahenkan, Mrs Edith Sapara-Grant, Mr Kamal-Deen Abdulai, Mr Leon ...

President Nana Akufo-Addo has bemoaned the high cost of properties in Ghana and urged the Ghana Chamber of Construction Industry to find innovative ways to build less costly properties for Ghanaian citizens so more people can own homes. The President told the Chamber at a meeting: “I hear in Ghana, some small three-bedroom house in East Legon costs between $354,000 ...

The LPG Marketers Association has indicated that the consumption of LPG in the country will decline if nothing is done on the increase in prices of the product. The price of LPG has increased by 5percent now ¢9.76 per kilogram, translating to about Ghc140 for a 14.5kg cylinder. Lands For Sale In Acres at Aburi Amanfrom, Watch the video Below; ...