Category: Business
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Standard Bank enters 17th decade as Africa’s largest financial business
In October 1862 in the city of Port Elizabeth, South Africa, what was to become Africa’s largest financial services business was birthed. Standard Bank, then known as The Standard Bank of British South Africa started doing business in a tent in Johannesburg, then known as Ferreira’s Camp, defying many odds in very challenging times. From…
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Business slows in Accra as traders close shops in protest
The protest by the Ghana Union of Traders Association (GUTA) over Ghana’s forex challenges and the cost of living crisis has been largely met with support from traders. While most of the traders joined the protest by locking their shops, a significant number of traders had opened their shops for trade. At Tudu, for example,…
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TAGG urges members to defy GUTA’s orders to close shops over economic hardships
The Traders Advocacy Group Ghana is urging its members to keep their shops open despite calls by GUTA to the contrary. The Ghana Union of Traders Association (GUTA) asked its members to close their shops on Wednesday in protest of the current economic situation in Ghana. The dollar rate, inflation rate, lending rate and the…
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Fuel prices to hit GHS18/litre in December if government doesn’t intervene – COPEC
If steps are not taken to curb the rampant increase in the prices of fuel at the country’s filling stations, the Chamber of Petroleum Consumers Ghana (COPEC) predicts that fuel prices could reach GHS18 per litre by the end of the year. ‘We are now hitting GHS15 per litre for fuel,’ according to Duncan Amoah, Executive…
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Fuel prices jump to almost GHS16/litre
Over the weekend, fuel prices have shot up to almost GHS16 per litre at some stations in the country. At a leading Oil Marketing Company, Total Energies, for instance, the price of Diesel now stands at GHS15.99 while petrol sells for GHS13.10. This is a sharp rise from the GHS11.06 per litre for petrol and…
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RCBs urged to leverage technology to meet changing needs of customers
The Bank of Ghana, BoG, is urging Rural and Community Banks (RCBs) to leverage current technologies to meet the fast-changing needs of their customers. This, the BoG believes will help the RCBs remain relevant to the segment of the economy that is traditionally served by the sector. Speaking at the 21st annual Chief Executive Officers…
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Zeepay Ghana Limited tops Ghana Club 100 awards
Zeepay Ghana Limited has been adjudged the best company of the year at the just ended Ghana Club 100 awards organised by the Ghana Investment Promotion Centre, GIPC. The financial technology company emerged the number one company in the country after it beat ninety-nine (99) companies enlisted in the 19th edition of the Ghana Club…
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Oti Region is a dream place for any investor – Kenyan High Commissioner to Ghana
The Oti Regional Minister, Joshua Makubu has called on both local and foreign investors to take advantage of the region’s economic potential and invest to develop the area. Addressing a delegation led by the Kenyan High Commissioner to Ghana, H.E Eliphas Barine, the Oti Regional Minister noted that, “the region is fast developing and will…
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Implementation of textile tax stamp policy will reduce importation – Alan Kyerematen
The Minister of Trade and Industry, Alan Kyerematen has stated that the introduction of the textile tax stamps policy will boost local production. According to him, the stamps will certify the legitimacy of textiles produced, imported and retailed in the country, thereby addressing revenue mobilisation challenges and profitability of the sector. Speaking at the launch…
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Local contractors to drag government to court over 10 billion debt
The Ghana Chamber of Construction Industry has threatened to take legal action against government, for failing to pay over 10 billion cedis accrued debt it owes contractors. The contractors lament that for over four years now, government has stalled in paying contractors for work done. A situation they say is having a negative toll on…