Category: Business
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Kotoka International Airport to reopen from September 1; land, sea borders remain closed
Ghana’s Kotoka International Airport will be re-opened to international flights effective Tuesday, September 1, 2020. This was announced by President Nana Addo Dankwa Akufo-Addo during his 16th address to the nation on measures taken by the government to curb the spread of the COVID-19 pandemic in the country. According to him, every passenger who arrives…
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Ghanaian Economist, Bernard Mensah, gets top job at Bank of America
Ghanaian-born Economist, Bernard Mensah, has been appointed President of International for Bank of America, and is also a member of the company’s executive management team. He is also Chief Executive Officer of Merrill Lynch International (MLI), Bank of America’s largest international subsidiary; head of the BANA London branch; and a member of Bank of America’s…
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Ghana’s laws are business-friendly – Diasporans urged to invest
Executive Head of Legal Service and Company Secretary at Bank of Africa Ghana (BOA), Mr. Muctar M. Abbas (Esq), has told Ghanaians in the diaspora who intend to invest in the country that Ghana has the right laws to assist their operations in the local economy. Mr. Abbas also pointed out that Ghana has specialized…
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Ghana Export-Import Bank launches Made-In-Ghana 4P Campaign
The Ghana Export-Import Bank (GEXIM), has begun a nation-wide campaign dubbed Made-In-Ghana 4P to encourage Ghanaians to support the growth and development of indigenous businesses. The bank’s mission is to facilitate the transformation of Ghana’s economy into an export-led one by supporting and developing trade between Ghana and other countries, and also building Ghana’s capacity…
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Receiver struggles to retrieve records of 35 defunct financial institutions to validate GHS252M claims
The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says he is unable to undertake a detailed asset tracing of 35 resolved companies to enable him validate and settle claims of depositors under the Depositor Payment Scheme. According to him, he is still working with the…
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GARDJA urges speedy operationalisation of cocoa farmers’ welfare fund
The Ghana Agricultural and Rural Development Journalists Association (GARDJA) has at the launch of its new cocoa advocacy initiative trumpeted the urgent need for the Ghana Cocoa Board to with immediate effect, operationalise a welfare fund to support cocoa farmers. The National President of GARDJA, Richmond Frimpong, noted that the welfare fund concept as enshrined…
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Lapaz: Second-hand clothes sellers decry low sales amidst COVID-19
Dealers in second-hand goods are lamenting a fall in revenue following the outbreak of the novel coronavirus. The outbreak of the disease in the latter part of 2019 has bitten hard on almost every economic activity as no sector in the global economy has been spared. Ghana’s government, like many governments across the world, has struggled…
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Government to announce bailout package for clients of defunct Fund Management Companies
The Securities and Exchange Commission (SEC) has disclosed that government is set to announce a bailout package for clients of the 53 defunct Fund Management Companies (FMCs). According to SEC, the package will be given in phases with the first phase covering clients of the twenty-two (22) companies currently under official liquidation. This announcement comes…
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Basing Agyapa Royalties in tax haven disappointing – Terkper
Former Minister of Finance, Seth Terkper says the Finance Ministry’s defence for incorporating Agyapa Royalties Limited in Jersey of the Channel Islands as a means to avoid paying extra taxes on mining royalties is disappointing. Jersey is a known tax haven and a destination for incorporating companies that want to be listed on the London…
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Agyapa Royalties agreement best deal for Ghana’s mineral resources – Ofori-Atta
Government has shot down suggestions that the Agyapa Royalties Agreement is a rip-off to the nation. Finance Minister, Ken Ofori-Atta, at a press conference on Thursday, denied claims that the government established Agyapa Gold Mineral Royalty Limited to mortgage the country’s ‘future resources’ to enrich the current administration. It will be recalled that the flagbearer…