Category: Business
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Government settles over 50% power debt owed IPPs
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB), has revealed that government has settled a little over 50% of the overdue debt owed them. According to them, this leaves the current indebtedness of the government to the IPPs at about $750 million. This comes barely two months after the Chamber threaten to…
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Build capacity of tomato farmers to help meet local demand – Government urged
The Fruits and Vegetables Producers Association of Ghana (FVPAG) has urged government to invest in building the production capacity of tomato farmers in Ghana as well as the development of better varieties of tomatoes to increase the quality of quantity of tomatoes produced in Ghana. According to the association, this will end the unfortunate phenomena…
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Central Bank urged to enhance its supervisory role
Stakeholders within the governance sector have charged the Bank of Ghana to improve on its supervisory role to reduce the risk of another financial sector collapse and ensure prudential standards are strictly been followed. According to them, this will enable the Banking and Special Deposit Taking Institutions sectors as well as other banks to remain…
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COVID-19 continues to be disruptive, but we need to be optimistic – FBNBank MD
Many businesses and industries continue to struggle to manage through the COVID–19 pandemic. The partial lockdown early last year compelled many businesses to stop operating or to significantly cut back on operations, while those that were operating were faced with the challenges of securing inputs, customers attrition and reduction in demand for their products and…
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Price of goods and services up by almost 10%
Latest data released by the Ghana Statistical Service, GSS, indicates that on a year-on-year basis (January 2020 to January 2021), the average price of goods and services across the country increased by 9.9 percent. The rise in the inflation rate for January 2021, is however lower than the rate recorded for December 2020 by 0.5…
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Databank withdraws from Agyapa deal as transaction advisor
Investment and brokerage firm, Databank has withdrawn its services as a financial advisor in the Agyapa royalties deal. The firm together with Imara Holding Limited jointly served as transaction advisors for the monetization of Ghana’s gold royalties through the dual listing of the Agyapa Gold Royalties Company on the Ghana and London Stock Exchanges. Databank…
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Prosecute persons whose actions led to banking crisis – BoG Governor urged
As the Governor of the Bank of Ghana Dr. Ernest Addison prepares to start his second term from April 1, 2021, as leader of the Central Bank, he is being called upon to dedicate time and resources to ensure that all persons behind the collapse of about 9 indigenous banks are prosecuted. Since 2017 banks…
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Tomato shortage looms following traders and transporters’ strike
Ghana might soon be experiencing a shortage of tomatoes and a jump in price of the commodity, as a result of an ongoing indefinite strike by the tomato transporters association. The strike, which began on Sunday, February 7, 2021, according to the Association, is due to the silence of the Ministry of Food and Agriculture…
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Vivo Energy Ghana launches new shell fuels portofolio
Vivo Energy Ghana, the Shell Licensee, has announced the biggest fuel portfolio launch ever in Ghana. The entire new Shell fuels portfolio, (Shell V-Power, Shell FuelSave Unleaded and Shell FuelSave Diesel) is now designed to enhance engine efficiency as Shell’s new fuels contain exclusive DYNAFLEX Technology. This new formulation helps clean and protect key components…
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AfCFTA: Businesses urged to focus on producing quality products
As businesses are jostling to take advantage of the Africa Continental Free Trade Area (AfCFTA), Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant says the commencement of operations of the agreement, gives Ghanaian manufacturing companies the opportunity to upgrade the production of their goods and services. According to him, this…