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Capital market to rebound over tax cuts on capital gains

GHana stock

Stock market analysts are predicting a rebound of the local bourse and the bonds market with an eventual scrapping of the capital gains tax. They contend that the move should attract investors to Ghana following a likely increase in the US Fed rate. According to a Research Analyst with First Banc Financial Services, Benjamin Amoah-Adjei, recent economic trends like declining ...

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Pro investment policies to increase FDIs to Ghana – Dusk Capital CEO

dusk ceo 2

Analysts have projected more foreign patronage of Ghana’s capital market following a pickup of activities on the market. The cedi depreciation, rising inflation plus the power crisis affected the bottom-line of businesses for the past three to four years. The development also led to a dip in the performance of most businesses listed on the local bourse leading to an ...

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Co-operative unions to go cashless with new payment platform

credit union

The Ghana Co-Operative Credit Unions’ Association has announced plans to push for its own inter payment and settlement platform in the short to medium term. The association aims to carry out the transactions without going through the traditional banking systems. The system is however expected to be supported by the Ghana Interbank Payment and Settlement Systems (GhIPSS). “We are looking ...

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AFB to accept deposits soon

stock

Finance institution AFB has told Citi Business News it will begin rolling out a number of services in the next three months including deposits and a mobile money account system where customers will be able to withdraw and deposit money via their mobile money wallets. AFB Ghana says the move follows calls from its customers to roll out these services. ...

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Barclays PLC to pay £ 765m towards its African split

Barclays-Bank

Barclays PLC has submitted an application to the South African Reserve Bank for approval to reduce its stake in Barclays Africa to below fifty percent. The application will require the approval of South Africa’s Minister of Finance. Already Barclays PLC has agreed to pay 765 million pounds to Barclays Africa for it to split from the African business. The amount ...

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We’re ready to release locked up pension funds – NPRA

npra

The National Pensions Regulatory Authority (NPRA) has disclosed that it should be able to release locked up pension funds in the Temporary Pension Fund Account (TPFA) by June this year should the Administrators of the Public sector funds complete the processes of validation. According to the NPRA, the reconciliation of employee data must be completed before the money could be ...

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Missing IMF targets will kill investor confidence- Economist

Economist Dr. Lord Mensah

Some financial analysts are worried Ghana failed to meet nearly all the targets set by the International Monetary Fund(IMF) aimed at enhancing fiscal discipline and economic development. As part of the IMF Extended Credit Facility of 918 million dollars, the previous government was expected to cut expenditure while redirecting the country’s resources into the real sectors of the economic to ...

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Crystal Capital launches two mutual funds

E Fund

Investment banking firm, Crystal Capital and Investments limited has launched two mutual funds that will offer Ghanaians more investment opportunities to earn higher returns that will enable them plan appropriately towards their entrepreneurial and personal financial goals. The Mutual Funds; Crystal Entrepreneur Fund (eFund) and Crystal Wealth Fund (W-Fund) were launched at an Initial Public Offering inAccra . Speaking to ...

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Listing VRA & GRIDCO: Analysts urge due diligence

Dr. Steve Manteaw

Some analysts in the energy sector have cautioned of long term costs to government should it rush through the process to list the Volta River Authority (VRA) and the Ghana Grid Company Limited (GRIDCO) on the Ghana Stock Exchange (GSE). Though they contend of the benefits in restructuring the operations of the institutions, the analysts fear of a potential dip ...

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Ghana’s debt to GDP hits 74%- Ken Ofori Atta

Ken Ofori Atta - Finance Minister

As president Nana Akufo-Addo prepares to deliver the State of the Nation Address, Finance Minister Ken Ofori Atta has disclosed that Ghana debt as a percentage of GDP has hit 74 percent. By the third quarter of 2016, figures released by the Bank of Ghana showed that the country’s debt stock had reached GH¢112.4 billion representing 67.4 percent. It is ...

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