BUSINESS

The president has likened the previous operations of the many dissolved financial institutions to that of a Ponzi scheme. President Nana Addo Dankwa Akufo-Addo reiterated that his administration upon assuming power observed that many banks were in distress and had been kept on “unsustainable and artificial life support by the central bank.” “The supervisory agencies were unfortunately not performing their duties and ...

The cand the UK Secretary of State for International Trade, Elizabeth Mary Truss, on the eve of New Year reached a consensus on the agreement through a video conference which would see existing international trade among the two countries strengthened. Per the agreement, Ghana would be provided with duty free and quota free access to the UK market, while same ...

Ghana bagged US$2.89 billion from Non-Traditional Exports (NTEs) in 2019 according to figures from the Ghana Exports Promotions Authority (GEPA). The 2019 non-traditional exports earnings was 3.10 percent higher than that of 2018 which was estimated at $2.83 billion. According to GEPA, non-traditional exports accounted for 8.53 percent of total exports last year. Over the last five years (2015 to ...

About 1.5 million out of the six million eligible Ghanaian taxpayers pay tax, allotting Ghana one of the lowest tax to Gross Domestic Product (GDP) ratio in Africa. Ghana, therefore, has a lot to do to meet the Sub-Saharan average target of 17 per cent which is above the nation’s 13 per cent mark as her various governments have over ...

The Securities and Exchange Commission (SEC) has revealed that 2,802 clients of defunct fund management companies have received full or partial payment of their investments under the government’s bailout package for the industry. The total amount paid to the clients is GH¢322.75 million, the commission said. The full bailout package involves a special arrangement whereby the government will pay clients ...

Fuel prices remained largely stable for the first pricing window of December 2020. This is according to a review by the Institute for Energy Security (IES). Oil Marketing Companies (OMCs) maintained prices of gasoline and gasoil at the pump with a few of them increasing their prices. The increase in prices was in response to international developments. Currently, the national ...

The Business Operations Manager at Earlbeam Realty, Madam Louisa Afriyie Boateng has hinted that the establishment of the company’s office in Ghana will boost the economy and also reduce the unemployment rate in the country. Madam Louisa in an interview highlighted the plans of the company. “Moving from London to Kumasi has really helped me a lot and also helped ...

Ghana has been named among three African countries with the potential to become Africa’s digital entryway in the coming years. In an extensive article by renowned business news publication Quartz, it acknowledges Ghana’s sound economic management in recent years, as well as the nation’s strides in digital and technological initiatives as part of the reasons why Ghana has a strong ...

The Chamber of Petroleum Consumers Ghana (COPEC) has predicted that fuel prices in Ghana are likely to go up in the coming days. Executive Director of the COPEC, Duncan Amoah said this is as a result of the prices on the international market recording upward trend over the past few weeks. He said “There is increasing pressure on the various ...

The World Bank Board of Directors have approved a $60 million International Development Association (IDA) grant to help Ghana and some other African countries strengthen the resilience of their agricultural sectors to the threat posed by climate change. The grant fulfils the World Bank’s commitment at the 2019 United Nations Climate Summit to increase its support to the CGIAR, a ...