Category: Business
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GNPC blames Gov’t indebtedness for its financial problems
The Ghana National Petroleum Corporation (GNPC), has blamed its financial constraints on government’s inability to pay debts owed them since 2014. According to them, government owes the Corporation over 21 million US dollars, and they are almost helpless in their quest to retrieve the money. Speaking at a Public Accounts Committee (PAC) sitting on Tuesday,…
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COVID-19: Patronage of nose masks and sanitizers drops as adherence to protocols diminishes
Ghana’s COVID-19 update as at August 30, 2020, showed a drop in the number of active cases from 1,152 to 1,059. 276 persons who tested positive for the virus have passed away, while over 40,000 persons have since recovered from the disease. Following the consistent fall in the number of active cases, it appears people…
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NIB must focus on its mandate to stay competitive and profitable – Banking Consultant
Banking Consultant, Nana Otuo Acheampong, has expressed optimism about the prospects of the National Investment Bank, NIB, following government’s injection of GH¢800 million into its operations to help close its capital deficit. The injection of funds, which is in the form of a bond issued to the bank earlier in August this year, is part…
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Fuel prices to go up slightly in 1st pricing window for Sept. – IES
Consumers of petroleum products are likely to pay a little bit more for the fuel they purchase at the various pumps for the next 2 weeks which is the first pricing window of September. That’s according to Energy think tank, the Institute of Energy Security. With the demand for fuel now going up as the…
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Court dismisses MTN’s suit against NCA on market share regulation
The Commercial Division of the High Court in Accra on Tuesday, September 1, 2020, dismissed a suit filed by Mobile Telecommunication giant, MTN, against the National Communication Authority over its intent to regulate the telcos space to ensure fair competition. MTN filed the suit after it was declared as a Significant Market Power (SMP). According…
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CSOs initiate online petition against Agyapa Royalties deal
Some Civil Society organizations have initiated an online petition to galvanize public support against the implementation of Agyapa Royalties Limited. Though the Finance Ministry last Friday sought to put all related matters to rest, civil society groups continue to mount pressure for the suspension of its implementation. President of IMANI Africa, Franklin Cudjoe, who is…
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Angry clients of defunct Fund Management firms arrested for picketing at Finance Ministry
Three members of the Coalition of Aggrieved Customers of the defunct 53 Fund Management Companies were on Tuesday, September 1, arrested for leading a protest at the premises of the Finance Ministry. Members of the group thronged the Ministry of Finance on Tuesday, September 1, 2020, to protest over the exclusion of clients of Blackshield…
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Allianz Life emerges ‘Fastest Growing Company’ at Ghana Insurance Awards
Allianz Life Insurance has been adjudged the Fastest Growing Company at the third edition of the Ghana Insurance Awards held over the weekend. The company, which commenced its operations in 2018, picked up the award for the inroads it has made in the highly competitive Ghanaian insurance industry. Commenting on the award, Chief Executive Officer…
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Government injects GH¢800m into NIB operations
The government has injected GH¢800 million into the National Investment Bank (NIB) to help close the bank’s capital deficit and boost its operations to support the national industrialisation agenda. The injection of funds, which is in the form of a bond issued to the bank earlier in August this year, is part of efforts to…
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Volta Region: 600 Rice farmers in Ketu South affected by drought
Some 600 farmers at Klenomadzi and Devego, near Dzodze in the Ketu North Municipality of the Volta Region, have lost their vast rice farms to drought. In all, 700 acres of rice farms have dried up due to severe weather conditions in the area. The National Disaster Management Organization (NADMO), has estimated the damage at…