BUSINESS

The public debt stock peaked in December last year after increased debt accumulation to plug revenue shortfalls and finance a larger fiscal deficit expanded the amount that the country owes to domestic and external creditors. Bank of Ghana (BoG) data released on January 29 showed that the debt stock ended the year at GH¢286.9 billion, the highest since the bank ...

Absa Group has appointed Frances Adu-Mante as the new board chair of the banks subsidiary in Ghana, Absa Bank Ghana following the successful securing of the necessary regulatory approvals. Mrs Adu-Mante, who has served on the Board since September, 2017 succeeds Mr. Charles Alexander Cofie, who completed his tenure as Board Chairman on Thursday, 31 December 2020. “I am delighted ...

As the coronavirus pandemic continues to wreak havoc on the economy and put much pressure on the health system, with many calling for increased spending on health-related expenditure to curb the disease, government has indicated in the 2021 first quarter budget that it will use part of the cash allotted to fight the pandemic as seed capital for the yet ...

The former Finance Minister Seth Terkper has asked the government to focus on homegrown policies to revive the economy post Covid or the country may have no choice than to return to the International Monetary Fund (IMF). Speaking on the Morning Starr on Tuesday, Mr Terkper added that the government must not project higher growth figures to help it put ...

The prizes range from a Nissan vehicle to mobile phones and plaques. An Agent at the Modern Action Ventures at Nkroful Junction, Madam Rita Kwaku was adjudged the Winner of the 2020 MTN Awards and received a Nissan vehicle for her loyalty and dedicated services to MTN. The first runner-up awardee received a motorbike and a cheque for GHc10,000 while ...

As part of measures to ensure the economy has a stable local currency for the year, and especially in the first quarter when demand for forex is high, the Bank of Ghana plans to inject a whopping US$775million through its FX forward auction programme to achieve this objective. Out of this amount, US$50million will be pumped into the economy bi-weekly ...

Prestige Links Security Limited has sued Ghana Oil Company (GOC) to the tune of US$15,000,000 million for damages accruing over an eight-year period. In the proposed statement of claim made by Prestige Links Security Limited (herein as Plaintiff) versus Ghana Oil Company (Defendant), the aforementioned is seeking a declaration by the High Court that the Defendant breached a duty of ...

Government has indicated it intends to raise an amount up to $5.0 billion to support growth-oriented expenditures in the 2021 Budget for this year. The Ministry of Finance, which made this known in a request for expressions of interest (EoI) for some appointments for the 2021 Medium Term ICM Programme, said it also wants to conduct liability management including refinancing ...

The Ghana Investment Promotion Centre (GIPC) has said Chinese investment firm, Chy Century Heng Yue Group Limited has committed an offence for undertaking activities in the capital market. According to the GIPC, though Chy Century Heng Yue Group Limited is a registered firm, it does not have the permission to engage in investments or any capital market operations. Reacting to ...

In the early days of the pandemic, manufacturers were hit hard with forced shutdowns, production slowdowns and serious questions about whether companies could navigate the disruptions. Manufacturing indicators had shown early 2020 momentum, but US industrial production in March registered a month-over-month decline of 4.5%, followed by a deeper decline of 11.2% in April. What did increase in 2020, however, ...