BUSINESS

The Northern Electricity Distribution Company (NEDCo) has cautioned the public against the proliferation of counterfeit energy metres within its service areas. This alert follows the recent seizure of over 200 sub-standard metres by the Ghana Police Service during a routine inspection. The counterfeit metres were intercepted on the Kenyase-Atronie road in the Sunyani Metropolis and are suspected to have been ...

The government has been sued by five non-governmental organisations (NGOs) seeking to recover over GH₵1 billion paid to Strategic Mobilisation Limited (SML). The NGOs are challenging the legality of the payment and seeking accountability for the use of public funds. Earlier this year, President Nana Addo Dankwa Akufo-Addo directed audit firm KPMG to conduct an audit of the transaction between ...

Former Finance Minister, Mr. Seth Tekper, has expressed dissatisfaction over Ghana’s failure to save for crisis periods despite having three oil fields. In an interview on Morning Starr with Lantam Papanko Monday, Mr. Terkper argued that the government’s inability to fully supply the contingency fund and other funds have left the country battling to cope with disasters and economic challenges. Mr. ...

For the seventh consecutive week, the government missed its auction target for treasury bills. According to the auction results by the Bank of Ghana, the government missed its target by a marginal 1.66 percent. The government got GH¢5.203 billion from a target of GH¢ 5.319 billion. All the bids tendered for the short-term instruments were accepted. GH¢3.725 billion, representing 71.23% ...

The Ghana National Petroleum Corporation (GNPC) has finally published a list of beneficiaries of its scholarship program, following a deferred response to a formal Right to Information (RTI) request by JoyNews. The request, originally made by the Head of the Research Desk at The Multimedia Group, Raymond Acquah, sought comprehensive details on GNPC-funded scholarships granted to both local and foreign ...

Investigative journalist Manasseh Azure Awuni has issued a retraction and apology to business mogul Ibrahim Mahama regarding a statement in his latest book, “The President Ghana Never Got”. In the book, Manasseh claimed that Mr. Mahama owed Merchant Bank $28 million. However, Mr. Mahama’s lawyers clarified that their client had never applied for or received any facility from Merchant Bank ...

The New Patriotic Party (NPP) flag bearer, Dr. Mahamudu Bawumia has highlighted the contrast between the economic record of former President John Mahama and the accomplishments of the current NPP government. Speaking at Movenpick Ambassador Hotel in Accra on August 25, Dr. Bawumia reiterated that the difference between the two is “night and day.” “The state of the economy in ...

The Jospong Group of Companies (JGC), a leading conglomerate in Ghana and West Africa, has sought to establish partnerships with Indian businesses at the recently concluded 19th Confederation of Indian Industry (CII) India-Africa Business Conclave 2024, held in New Delhi from August 20 to 22, 2024. The summit, themed “Creating one future,” aimed to strengthen ties between India and Africa ...

Debts owed Independent Power Producers have been renegotiated by the Finance Ministry. That’s according to the Minister of State in charge of the Energy Ministry Herbert Krapa. According to him the debts have been divided into current debts which are being handled by the ECG, while legacy debts are being handled by the Finance Ministry. “The ECG through the Ministry ...

The Deputy Minister for Trade and Industry, Michael Okyere Baafi, has urged the Ghana Revenue Authority (GRA) to adopt a more persuasive and strategic approach in its tax collection efforts, moving away from the use of intimidation. This call comes in light of growing concerns from the Ghana Union of Traders Association (GUTA) in the Ashanti Region, who have accused ...