Category: Business
-
Ethiopian Airlines flight to Nairobi crashes; deaths reported
An Ethiopian Airlines flight between Addis Ababa and Kenya’s capital, Nairobi, has crashed, the Ethiopian prime minister’s office said on Sunday. “The Office of the PM, on behalf of the Government and people of Ethiopia, would like to express its deepest condolences to the families of those that have lost their loved ones on Ethiopian…
-
IFC,GSE ‘ring the bell for gender equality’
IFC, a member of the World Bank Group, is partnering with the Ghana Stock Exchange and over 70 other stock exchanges around the world to “Ring the Bell for Gender Equality”—an initiative linked with International Women’s Day that promotes increased women’s participation in the global economy to catalyze sustainable and inclusive private sector growth. Accelerating…
-
Fuel prices increase; crosses 5 cedis mark
Prices of Petrol and Diesel have gone up beyond 5 cedis at some fuel stations in the country. Checks at two of the major Oil Marketing Companies, Total and Shell showed a 24 pesewas increase of the prices of both Diesel and Petrol. Both are now selling at GHc5.18 GOIL on the other hand is…
-
BOND Savings and Loans joins in ‘Wear Ghana Month’
BOND Savings and Loans Plc joined in the Wear Ghana Month, where staff of the company across all outlets in Accra, Tema and Kumasi showcased their fashion flare in Ghanaian traditional clothes. The National Commission for Culture declared March, as the month for wearing Ghanaian Made Products. The move is to promote locally manufactured products…
-
Ghana Exim bank initiates stringent measures to recover loans
The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst…
-
Gov’t must embark on structural change to stabilize cedi—Economist
Economist, Dr. Ebo Tuckson has urged government to as a matter of urgency implement the needed structural changes in the economy to strengthen the Cedi. His comment follows widespread concern from different sections of the public about the performance of the local currency against the US dollar and other international currencies. The Bank of Ghana…
-
BoG must provide guidelines to help sustain local banks–PEF
The Private Enterprise Federation (PEF) is appealing to the Bank of Ghana to provide strategic guidelines with which local banks can become stronger to match up to the standard of the foreign banks. This, they believe will enhance their skills and capabilities in serving the nation. “Most of our financial institutions should be local ownership…
-
Interest rate on loan for KIA Terminal 3 project expensive – Kofi Adda
Ghana’s Aviation Minister Joseph Kofi Adda has described the interest rate for the loan secured for the construction of the Terminal 3 at Kotoka International Airport as too much. In 2015, Ghana Airports Company Limited (GACL) secured a US$250 million loan for the construction of Terminal 3 at an interest rate of Libor plus 8.5%. The…
-
BoG’s decision to release more dollars to stabilize cedi good—Economist
Economist Dr. Lord Mensah has described the decision by the Bank of Ghana (BoG) to add a minimum of $800 million to Ghana’s reserves in an attempt to stabilize the Cedi against the dollar as a step in the right direction. The cedi has weakened by 8.6 percent this year (2019). The Bank of Ghana says it…
-
Activity on stock market to rebound in May—Analyst predicts
Some Stock Market analysts are hopeful market activity on the Ghana Stock Exchange will pick up by May after a sluggish start to the year. UMB Stockbroker Kofi Busia Kyei is optimistic companies will be paying dividends to their shareholders around the middle of the second quarter of this year (among other happenings) which should…