Category: Business
-
Val’s Day: Consumption of locally made chocolate still low as Ghana marks ‘Chocolate Day’
The consumption of locally made chocolate remains low despite the celebration of the National Chocolate Day for over a decade. According to the Cocoa Processing Company(CPC), Ghanaians consume only 400 grams of chocolate daily compared other developed countries that consume twice the number. In Ghana, the Val’s Day is called the National Chocolate Day with…
-
Tullow PLC to increase oil production in Ghana as its revenue surges
Tullow Oil Plc has announced an increase in revenue for its 2018 operations. The company’s revenue increased to $1.9 billion in 2018 compared to 1.7 billion dollars in 2017. There more in this news desk report. In a financial statement released by the company, Tullow PLC recorded a profit after tax of 85 million dollars…
-
Inflation for January drops to 9%; lowest in 5 years
Ghana’s inflation reached its lowest in five years for the month of January. Inflation rate dropped to 9 percent, from the 9.4 percent recorded in December 2018. The rate of 9.0% is the lowest since January 2013. The drop was largely consistent with the inflation trend recorded in January for the last 5 years. The…
-
Cedi depreciation: Spare parts dealers threaten to pass on cost to consumers
Spare parts dealers at Abossey Okai have stated that they will have no other option but to increase the cost of their goods if the cedi is not stabilized against the dollar. The cedi since January this year has seen about 2.4 percent depreciation reducing in value against the dollar from 4 cedis 90 pesewa…
-
How your bank charges you for processing your salary
As at the end of December last year some banks in the country charged no fee for some major services, while other services attracted substantial fees. Getting your personal salary processed in some banks in the country would have cost you as high as GHC 24 cedis, while others would have charged you nothing as…
-
Only ten percent of Unibank’s debts were recoverable – KPMG report
It has emerged that over ninety percent [90%] of defunct Unibank’s loan books was non-performing as at March 2018. According to the Official Administrator’s report, Unibank had 3.4 of the 3.73 billion cedis, non performing; a development which affected the performance of the bank. The Official Administrators, KPMG were made to assume the management of…
-
IES raises concern as PURC, ECG delay major policy decision making
The Institute of Energy Security, IES, is warning that the technical and operational challenges within the ECG may escalate if the process for the handing over to the Power Distribution Services (PDS) is delayed any further. The IES also wants the PURC to be swift in announcing the new tariffs as the delay is impacting…
-
Major boost for Ghana’s tourism industry as more foreigners plan trip
The rating of Ghana’s tourism sector this year by the CNN as one of the best destinations to visit is already receiving positive responses from European countries. France, in response to the report has sent some journalists to Ghana to explore Ghana’s tourism sites to encourage it citizens to visit Ghana during this year’s summer…
-
Air France unveils its new long-haul travel cabins on Ghana route
Air France has unveiled its new long-haul travel cabins exclusively available on board its Airbus A330s. The company offers a new travel experience in its Business (36 seats), Premium Economy (21 seats) and Economy (167 seats) cabins. 15 aircraft will be completely redesigned by 2020 thanks to a global investment of 140 million euros. The…
-
Anthony Jordan retires as MD of Republic Bank Ghana; new leader appointed
Mr. Anthony Jordan currently Managing Director of Republic Bank (Ghana) Ltd will retire from the Bank on April 17, 2019, after a distinguished career spanning over thirty-five (35) years of service. He started work in Ghana in 2015, coming from Trinidad and Tobago. Mr. Farid Antar, has been appointed Managing Director of Republic Bank (Ghana)…