Category: Economy
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Tullow Oil is not up for sale but we will listen to offers — Corporate Affairs
The Head of Corporate Affairs at Tullow Oil Plc, George Cazenove, says although the oil firm has faced some challenges in recent times with its Ghana operations, the company is not actively looking for buyers. “We are a listed company, people have shares in our company and so we are always open to offers and…
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Pension industry exposed to banks to the tune of GH¢863.63 million
The Finance Ministry has revealed that the pensions industry’s exposure to the banking sector is about GH¢900 million; justifying the need for Parliament to approve a GH¢15.6 billion to protect the financial sector from a possible collapse. The Finance Minister, Ken Ofori-Atta in a memo to Parliament, argued that the financial sector is very interconnected…
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GCB Bank to launch unique mobile money platform ‘G-Money’
GCB Bank, as part of the digital transformation, has introduced its digital currency or mobile money christened G-Money, which will allow customers of the bank to perform electronic payments or transactions seamlessly. ‘G-Money’ allows users to send and receive money, buy goods, pay for services and move funds within the financial ecosystem. Customers can also…
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Akufo-Addo urges Ghanaian businesses to explore opportunities in South African market
President Nana Addo Dankwa Akufo-Addo has urged Ghanaian businesses to explore opportunities offered by the Africa Continental Free Trade Agreement to venture into countries such as South Africa. The President was speaking in Accra at the Ghana-South Africa Business Roundtable meeting which was also attended by his counterpart, Cyril Ramaphosa. Ghana and South Africa have…
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Gov’t pegs premix fuel subsidy for 2019 at Ghc206m despite reports of shortages
The Minister for Energy, John Peter Amewu, says government will continue to subsidize premix fuel to make the product available to fisher folk across the country. In recent times, the usual reports about the shortage of the product have resurfaced in some coastal communities. The Minister blames the shortage on persons he calls crooks who…
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Stakeholders urged to support women in shea value chain production
Stakeholders in the value chain of shea production have been asked to provide the necessary support for women in the industry. While hundreds of rural women in Northern Ghana are engaged in the industry, their poverty levels have not improved because they earn very little from it despite the high commercial value of the commodity.…
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Constructive planning needed to prevent costly excess power supply — Energy Minister
The Minister of Energy, John Peter Amewu, has called for constructive energy planning practices in the medium to long term, to ensure that Ghanaians are not burdened with the cost of excess energy supply. According to him, the current high cost of energy for Ghanaian households and businesses is as a result of the excess…
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New Ghana cedi denominations could cause inflation- Economist warns
Financial Economist, Dr. Lord Mensah, has stated that the introduction of the new Ghana Cedi notes by the Bank of Ghana, is likely to increase the prices of goods and lead to inflation. “For me, I think it has the tendency of causing inflation because anytime you are pricing, you will look for the minimum…
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Bank of Ghana introduces new Ghc200, Ghc100 notes
The Bank of Ghana has introduced GH¢100 and GH¢200 notes to the country’s currency denomination mix. It has also introduced a GH¢2 coin. This was announced by the Governor of the Central Bank, Dr. Ernest Addison at a press conference in Accra on Friday. Explaining the rationale for these new denominations, the Governor said the…
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Disregard for good corporate governance collapsing family businesses -Rockson Dogbegah
The President of the Institute of Directors Ghana, Rockson Dogbega, says blatant disregard for the principles of good corporate governance structures is largely the reasons why most indigenous companies don’t survive beyond their founders. According to him, family relations and sometimes acquaintances often fail to follow laid down procedures, leading to the collapse of companies.…