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Author Archives: Lawrence Segbefia

MTN  aiming to be Africa’s biggest bank


MTN, Africa’s biggest mobile operator, is gunning to become Africa’s biggest bank. The ambitious business strategy was revealed by MTN CEO Rob Shuter yesterday during the Deloitte Africa in 2018 Outlook conference in Woodmead. The company is encouraged by the progress made by its Mobile Money offering in other geographies that it operates in. This is despite MTN Mobile Money failing to ...

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Ghana’s total debt stock hits GH¢138.8bn

Ken Ofori Atta - Finance Minister

New figures released by the Bank of Ghana (BoG) show that the country’s total debt stock has hit GH¢138.8 billion cedis as of November 2017— representing 68.7 percent of the GDP. It shows a marginal decrease in the September figure of 138.9 billion cedis compared to the November figure of 138.8 billion cedis The figures, however, show that the debt ...

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MiDA committed to making NEDCo financially strong


The Millennium Development Authority (MiDA) has stressed its commitment to make the Northern Electricity Distribution Company (NEDCo) financially viable and efficient with the NEDCo Financial and Operational Turnaround Project (NFOT). According to the Director of Generation Projects at MiDA, Mawunyo Rubson, a financially viable and independent NEDCO will eventually boost business growth and socio-economic activities in the Northern part of Ghana. ...

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Starwin Products Limited holds AGM


The Chief Executive Officer of Starwin Products Limited, Yaw Opare Asamoah has told Citi Business News the company is consolidating its operations to make it one of the leading pharmaceutical companies in the country. According to him, the company has addressed most of the challenges it faced in 2015. Speaking to Citi Business News after an Annual General Meeting(AGM) in ...

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Gov’t warns British Airways over bedbug infested plane

BA Cabin Crew To Strike As Talks Collapse

The Minister for Aviation, Madam Cecilia Abena Dapaah has issued a strong warning to British Airways, that government will take drastic action against the airline if it continues to provide substandard treatment to passengers flying its routes to Ghana. The warning, follows an incident that occurred on a bedbug infested British Airways plane, bound for the Kotoka International Airport (KIA) ...

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Nana Addo swears in GIPC board


President Nana Addo Dankwa Akufo-Addo yesterday [17th January 2018], performed the swearing-in of a 10-member of the Ghana Investment Promotion Center(GIPC) at the Presidency. The board is chaired by Mr Kwasi Abeasi. The board is chaired by Mr Kwasi Abeasi. The members include, the Chief Executive Officer of the GIPC, Mr. Yofi Grant, the first Deputy Governor of the Bank ...

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BoG must intensify supervision to reduce bad loans–Economist

Dr. Ernest Addison, Governor of the Bank of Ghana

The Bank of Ghana has been advised to intensify its supervisory roles to prevent over lending by banks that may meet the new capital requirement. Some financial observers have raised concerns that banks that may meet the minimum capital requirement of 400 million cedis may be tempted to lend above the required threshold due to the new capital base. The ...

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‘Delayed’ National ID still crucial to Govt’s plans – Nana Addo

natinal id

President Akufo-Addo has said that the implementation of the National Identification System remains an integral part of his government’s plans despite the fact that it is yet to become fully operational. The President had said at the first Media Encounter in July 2017, that the National ID system would be up and running by the end of that year. However, 17 days into ...

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Mahama’s fiscal indiscipline took Ghana to IMF


President Akufo-Addo has rebuffed claims that the numerous social intervention programmes being undertaken by his administration may leave a debt burden that will take Ghana back to the International Monetary Fund (IMF), soon after exiting from a programme with the fund. The president is hopeful the fiscal discipline embarked upon by the Economic Management Team of the government will enable ...

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NEDCO: Building capacity for development in the north


One lesson Ghanaians ought to have learnt from the extended power crisis suffered recently, is that the pace of our country’s development will be slow and uncompetitive, if it is not supported by a strong and efficient power sector. Ghana is today set on an industrial development path; propelling improvements in the economic and social lives of Ghanaians in the ...

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