BUSINESS

Ghana witnessed a surge in Foreign Direct Investments (FDI) inflows recording an impressive $2.6billion worth of inbound investments for the year 2020. The Ghana Investment Promotion Centre in its Investment report for the 4th quarter of 2020 said the significant FDI recorded was against expectations following the Covid – 19 outbreak but touted government policies and interventions in keeping the ...

A research analyst at the Institute for Energy Security (IES) Fritz Moses has called on managers of the power sector in the country to be transparent about the recent power outages. Ghana experienced a nationwide power cut on Sunday, March 7 topping weeks of infrequent power supply in parts of the country. The Ghana Grid Company (GRIDCO) however says the ...

Chairman of the Angel Group of companies, Dr. Kwaku Oteng has been inducted into the Corporate Ghana Hall of Fame. The Executive Chairman, Board of Directors, and Evaluation Committee of Corporate Ghana decided to induct the President and founder of one of Ghana’s most successful entrepreneurs after analyzing his contribution to the economy of the country over the years. Starting ...

Energy expert Dr. Yusif Seleimana has shutdown suggestions that it would not be profitable for the Tema Oil Refinery to refine crude in its current state. He said the government can turn around the fortunes of TOR by ensuring that its RFCC Unit is functional to convert residual fuel into high-value products. This according to him will reposition TOR to ...

More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the 34-year-old ended up in a series of odd jobs earning ...

The Bank of Ghana has launched a regulatory and innovation sandbox pilot in collaboration with EMTECH Service LLC. The move, according to a statement issued by the central bank, is in line with its commitment to evolve an enabling and inclusive regulatory environment that promotes FinTechs and supports innovation. “Within the financial sector, a regulatory and innovation sandbox is a supportive and ...

Director of Finance for the Association of Small Scale Miners, Francis Opoku has advised government to pair officers from the Ghana Revenue Authority (GRA) with the taskforce mandated to check the galamsey menace in the country. On his accord, galamsey is a complex issue and has seen to the corruption of some noble members of the taskforce mandated to fight ...

The Ghana Chamber of Bulk Oil Distributors (CBOD) 2019 Ghana Petroleum Industry Report has revealed that the various units of the Ghana Revenue Authority GRA coordinate their activities or share information on a routine basis. the GRA has integrated the four revenue institutions namely the Customs, Excise and Preventive Service (CEPS), the Internal Revenue Service (IRS), the Value Added Tax ...

An economist at Databank, Courage Martey has projected that Ghana’s local currency, the cedi is expected to remain stable against major trading currencies throughout 2021. Martey said he believed the stability of the local currency is as a result of measures set in place by the Bank of Ghana to prevent a cedi depreciation. The local currency has so far ...

Transport Minister-designate, Kwaku Ofori Asiamah, has committed to completing the construction of the proposed Cape Coast airport within the next four years. Answering questions about the proposed airport for the Central Region, Mr. Asiamah told the Vetting Committee of Parliament that: “I will ensure that it is constructed within my tenure; within the next four years, if I am given ...