Category: Business
-
Mixed reactions greet court order for ENI to pay 30% revenue into escrow account
The stalemate between ENI Ghana and Springfield Ghana over the directive by then Energy Minister John Peter Amewu to execute a Unitization and Unit Operating Agreement (UUOA), which some stakeholders say is denying the country of much-needed revenue, saw Springfield dragging ENI to court. Springfield prayed the court for a number of reliefs including an…
-
85% of susu collectors now use technology – Association
The Ghana Cooperative Susu Collectors Association says about 85% of its members now use some form of technology in their operations. According to the association, this forms part of their digitization agenda. Susu is an age-old saving system where a person called a susu collector visits individuals to collect cash deposits daily for a month.…
-
BoG urges companies to uphold corporate governance practices
Governor of the Bank of Ghana, Dr. Ernest Addison, has reiterated the need for the financial sector to uphold good corporate governance practices to enhance efficiency. According to him, corporate governance plays an important role in the financial sector as it helps to create a strong banking sector and enhance their financial intermediary role in…
-
Ghana removed from money laundering list
Ghana is no longer on the global list of high risk money laundering and terrorist financing countries, after it enacted various legislations to criminalise money laundering and fight the crime. This was made known by global money laundering and terrorist financing watchdog, Financial Action Task Force (FATF) on Friday, June 25, 2021. The country was…
-
Ofori-Atta charges AfDB to tackle problems hindering Africa’s post-COVID-19 recovery
Finance Minister, Ken Ofori-Atta has tasked the African Development Bank (AfDB) to show leadership in addressing key risks being faced by the continent, to ensure a successful socio-economic recovery from the Coronavirus pandemic. Mr. Ofori-Atta made the remarks during his welcome statement for the 2021 Annual Meetings of the African Development Bank Group, which has…
-
Form strategic alliances to capitalize under AfCFTA – Kobla Nyaletey advises exporters
One of the ways Ghanaian exporters can increase access to funding as they explore existing opportunities within the Africa Continental Free Trade Area (AfCFTA) is for them to form strategic business alliances, Kobla Nyaletey, Director of Markets of Absa Bank Ghana and Nigeria has said. He believes such a move will save businesses in export…
-
Fix TOR and BOST to cushion consumers from fuel price hikes – COPEC
As fuel prices continue to rise at the pumps, the Chamber of Petroleum Consumers (COPEC) says the situation will not change until institutions like the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited run at full capacity. According to COPEC, once the entities commence operations, they should be able to…
-
#CitiBusinessFestival: Partnerships key to boosting ‘Made-in-Ghana’ agenda – Michael Kottoh
The co-founder and managing partner at international consultancy firm – Konfidants, Michael Kottoh says Ghanaian businesses need to develop professional business partnerships to be able to fully gain from the Made-In-Ghana campaign and boost the patronage of their goods and services. According to him, the refusal of businesses merging or joining forces with other industry…
-
Banking sector cleanup: Allow the law to take its course – BoG Governor urges Parliament
The Governor of the Bank of Ghana, Dr. Ernest Addison, has asked Parliament to allow the law to take its course in the ongoing legal tussle regarding the revocation of licences of some financial institutions in the country. While the government has issued criminal proceedings against some shareholders of financial institutions whose licences were revoked,…
-
#CitiBusinessFestival panellists discuss AfCFTA opportunities in 4th virtual forum
Panellists at the 4th edition of the Citi Business Festival virtual forum have offered varied opinions on how Ghanaian businesses, particularly Small and Medium-sized enterprises, can take advantage of the opportunities presented by the African Continental Free Trade Area (AfCFTA). Small and Medium Enterprises in Ghana and other parts of Africa are struggling to expand…