BUSINESS

The Minority has called on the government and the Oil Marketing Companies (OMC’s) to further reduce fuel prices by some 20 percent as oil prices on the world market continue to tumble. The call by the minority comes after fuel prices went down by some 4.7 percent on March 17 this year despite promises by the CEO of the National ...

In the wake of the coronavirus outbreak, Advans Ghana Savings and Loans is more than ever committed to support small businesses and farmers to get through this crisis and to back the country’s efforts to control the spread of the virus. In this context, the CEO of Advans Ghana, Olivier Bailly-Béchet, stated that all branches in the Greater Accra region ...

Meridian Port Services Limited, operators of the dedicated container terminal in the Tema Port, MPS Terminal 3 has put together a business continuity plan to avert negative effects of the coronavirus pandemic on its economic role. A statement signed by the Chief Executive Officer of the firm Mohamed Samara said MPS is committed to providing guidance, updates and other information ...

(Jeddah, March 23, 2020) – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has been named ‘Best Islamic Financier’ by the trade finance platform, Trade Finance Global, in cooperation with BAFT. The international work carried out by banks, financial institutions and technology vendors to enable trade has never been more important, particularly ...

Ghana has triggered all its contacts with the World Bank and the International Monetary Fund, with the hope of finding an external support to address the brunt of the coronavirus (COVID-19) on the Ghanaian economy. “We are currently in discussion with the World Bank to tap into a US$12billion World Bank Group fast track COVID-19 facility to help close the ...

The Finance Minister Ken Ofori-Atta has told Parliament that the $100 million announced by President Akufo-Addo to fight coronavirus is not ready. President Akufo-Addo in an address last week said the finance minister has been directed to make the funds available to respond to the deadly virus. Six cases have so far been confirmed in Ghana. The amount, according to ...

There is a big legal battle raging in court between two senior lawyers; Charles Zwennes and Philip Addison, over the ownership of a company called, Merlin Gaming Ghana Limited, and this has led to discoveries that Stanbic Bank Ghana, has allowed a third party carry out some transactions on an account it keeps for the company. The Merlin Gaming, was ...

The Institute of Internal Auditors Ghana has called on Bank of Ghana and Telecom operators to consider reducing charges on mobile money transactions by at least 50%. This they believe will help minimize the spread of Coronavirus. The use of physical cash according to health professionals can contribute to the spread of Covid-19. Chairman of the Advocacy Committee of Internal ...

Finance Minister, Ken Ofori-Atta, has revealed that a total amount of US$8.98 million was used by the Bank of Ghana to print the new GH¢100 and GH¢200 notes. Addressing Parliament on Tuesday, 17th March 2020, he explained that the figure is made up of US$4.45 million and US$4.53 million for the two notes respectively. “Mr Speaker currency management falls within ...

This is against the previous 6.5% forecast for this year. However, 6.2% is still good for the country. According to ratings agency, Fitch, “We therefore expect real Gross Domestic Product to expand by 6.2% in 2020, down from 6.5% previously. In its analysis on the impact of the coronavirus on Sub Saharan economies, Fitch said “The sharp decline in global ...