BUSINESS

Director of Operations at Dalex Finance Joe Jackson has extolled the Bank of Ghana (BoG) for paying all the customers of the collapsed banks their locked-up funds. He said the action was good but the BoG has a duty to let the public know how much has also been retrieved from the directors and Chief Executives Officers of the collapsed ...

Ghana is expected to witness a $10 billion boost in her economy with government’s plan of exploiting bauxite and aluminum reserves into the Integrated Aluminum Industry. To achieve that objective, the Management of the Ghana Integrated Aluminum Development Corporation (GIADEC), in partnership with the Volta Aluminum Company Limited (VALCO) has deployed a Recovery Plan of retrofitting the VALCO refinery plant ...

Members of the Governing Council and Executives of GARIA Distinguished GARIA Members, Distinguished Resource Persons Invited Guests, Ladies and Gentlemen Good morning. I bring you warm greetings and felicitations from Governor Ernest Addison and the entire management team of the Bank of Ghana. I am truly humbled to have been called upon to give the keynote address at this very ...

Jeff Bezos was already the world’s richest man. Now his net worth has skyrocketed once again, setting another new record. On Wednesday, the Amazon CEO’s wealth reached an estimated $202 billion, according to the Bloomberg Billionaires Index, as the company’s shares soared. That’s up about $87 billion since January. The explosive growth in Bezos’ fortune is being driven by his ...

The measures put in place to deal with the ravages of the corona virus pandemic on the Ghanaian economy by President Akufo-Addo are beginning to yield results, Dr Ernest Addison, Governor of Bank of Ghana has said. He said this when President Akufo-Addo paid a working visit to the central bank on Tuesday August 25,2020. The BoG Boss said “Your ...

Heritage Bank Ghana Limited was the only solvent bank that was deliberately targeted and collapsed by the Bank of Ghana and no amount of lies and propaganda churned out by Assin Central MP Kennedy Agyapong on his NET2 TV station can change that fact, pressure group Alliance for Social Equity and Public Accountability (ASEPA) has said. A statement signed by ...

Despite significantly higher credit impairments and the material impact of the lockdowns on transactional volumes, Absa Group, including all business units, remained profitable. In addition, revenue increased by 3% while cost-to-income ratio reduced from 56.7% to 53.9%. The group also reported an 82% decline in normalised interim earnings after impairments increased four-fold to 5.01 billion cedis. Impairment charges rose as ...

The Alliance for Social Equity and Public Accountability (ASEPA) has claimed that the now defunct Heritage Bank was targeted and ultimately collapsed unfairly during the banking sector clean-up exercise. In a statement issued by the Executive Director of ASEPA, Mensah Thompson suggested that the defunct Heritage Bank was indeed profitable and financially sound to operate. “Before we delve into the ...

Ghanaian investors in the diaspora have been told that the economy of the oil-producing West African nation has seen massive improvement over the years. Therefore, they should return to Ghana their homeland to invest in the local economy. Speaking during a webinar organized for over 100 Ghanaians in the diaspora via Zoom on the topic ‘Ghana, An Ideal Destination for ...

Back in 2010, Texas-based Anadarko Corp. (now a subsidiary of Occidental Petroleum Corp.) and Italian energy giant ENI SpA announced the discovery of approximately 180 trillion cubic feet of natural gas reserves, equivalent to ~29 billion barrels of oil, in Mozambique’s supergiant offshore basin of Rovuma, immediately catapulting the south African nation to a potential global LNG superpower. As expected, ...