BUSINESS

The National Tripartite Committee has announced a six per cent increase in Ghana’s National Daily Minimum Wage for 2021, to take effect on June 4. This was made known in a communique jointly signed by the Minister for employment and labor relations Ignatius Baffuor Awuah for government, president of the Ghana Employment’s Association Daniel Acheampong for employers, and the secretary-general ...

A former Energy Minister under the erstwhile NDC administration, Emmanuel Kofi Armah Buah, has slammed the government over the decision by ExxonMobil to abandon its oil block and pack out of the country after undertaking seismic works. Speaking to the media in parliament, Mr Buah who is also the MP for Ellembelle said the government failed to provide favourable conditions ...

The Bank of Ghana is in the advanced stages of introducing a digital currency, the Governor of the central bank, Dr Ernest Addison has disclosed. According to Dr. Addison, the e-cedi will go through three phases before it goes into circulation. He said in the final stage, a pilot would determine whether the digital currency will be feasible before it ...

THE BANK of Ghana’s latest confidence surveys conducted in April 2021 showed some dip in both consumer and business sentiments. Consumer confidence dipped slightly on account of recent increases in petroleum prices at the pump, new taxes, and transportation fares. The latest monetary policy committee (MPC) report by the Central Bank, which made this known, said this followed on the ...

The Concerned Drivers Association has said the 13 per cent transport fare hike announced on Wednesday, 2 June 2021 is an “insult” to its members and has vowed to implement a 20-per cent increase. The PRO of the group, Mr David Agboado, told Class News in an interview that: “We are communicating to our passengers and our cherished customers that ...

Goil Ghana Limited is diversifying into the production of polymer modified bitumen as an added value model to sustain the business and promote national development. Amid the global energy transition aimed at minimising the effects of fossil fuel on the environment, GOIL has constructed a bitumen plant under a joint-venture with Societe Multinationale de Bitumes (SMB) of Cote d’Ivoire, which ...

Ghanaian-owned brokerage firm, Obsidian Achernar, has been licensed by the Bank of Ghana as one of the Primary Dealers (PDs) of government bonds for the country. Obsidian Achernar was commissioned by the central bank, along with 17 other reputable financial institutions including Absa Bank, Stanbic Bank and Standard Chartered Bank. Their appointment follows an invitation by the Ministry of Finance ...

MEMBERS OF some private commercial drivers’ organisations have announced they are considering a 20 per cent increase in lorry fares for commuters. The associations and unions, comprising the Ghana Committed Drivers Association, International Drivers Road Transport Union, Truth Drivers Union, and Concerned Drivers Association, among others, which disclosed this in a joint statement, said the increase became necessary following recent ...

REMITTANCES TO Ghana increased by 5% to $3.6 billion in spite of the economic challenges posed by the COVID-19. The World Bank’s 2021 Migration and Development report, which made this known, said with the exception of Nigeria where there was a significant decline in remittances, foreign inflows to Africa went up by 2.3%. The report said Ghana ranked second behind ...

The Bank of Ghana’s Monetary Policy Committee (MPC) meeting which was to be held on 19th to 21st May 2021 has been rescheduled the Bank has announced. The new date for the meeting is 26th to 28th May 2021. The BoG in a statement added that it will organise a press conference after the MPC meeting on 31st May 2021. ...