Category: Economy
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April inflation rises marginally to 9.5 percent
Inflation recorded for April 2019 rose marginally to 9.5 percent year-on-year. April’s inflation is an increase over the March figure of 9.3 percent. Despite the slight increase, the year-on-year comparison indicates a drop in the inflation rate from the 9.6 percent recorded in April 2018 to 9.5 percent in April 2019. Presenting the figures to…
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SSNIT receives GH¢ 9.9 million as dividend from MTN Ghana
MTN Ghana, a day after its maiden Annual General Meeting, has paid out a total dividend of over GH¢9.9 million to its third largest shareholder the Social Security and National Insurance Trust (SSNIT). This follows approval of a final dividend of 3 pesewas per share by shareholders of MTN at the AGM yesterday (May 14,…
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Receiver for Consolidated Bank gives debtors June 14 deadline to settle liabilities
The Receiver for the five banks merged into the Consolidated Bank, Nii Amanor Dodoo has given individuals and businesses who are defaulting in loans to the affected banks to redeem their liabilities or risk publication of their names in the national dailies. The caution was given in a statement published in the Daily Graphic reminding…
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Impact of financial sector reforms will be felt long-term — BoG
Head of Banking Supervision at the Bank of Ghana, Osei Gyasi has said the recent banking sector reforms should impact positively on the macroeconomy largely through the reduction in interest rates and a decline in non-performing loans among others. While delivering a presentation at the first in a series of round table discussion with the…
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MTN Board Chair wants improved economic performance
The Board Chair of MTN, Ishmael Yamson, is backing the performance of the share price of the largest telecoms operator to bounce back having recorded a decline of about eight percent in the year-to-day value from 75 to 69 pesewas. His assurances came after shareholders at the company’s AGM demanded the company improves its performance.…
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Search for strategic investors in bauxite and aluminium industry begins
The Ghana Integrated Aluminium Development Corporation (GIADEC) has commenced processes towards the engagement of strategic investors for different aspects regarding the implementation of the entire bauxite to aluminium value chain. According to GIADEC, all private sector entities/ consortium interested in participating in the investor engagement rounds have up to the end of May 2019 to…
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Ensure fairness in awarding oil blocks – ACEP
Exactly one week to the May 21st deadline for the submission of bids, given to some 14 companies that applied to explore oil blocks put on offer by the government last year, the Africa Center for Energy Policy (ACEP) has called for fairness in the awarding of the oil blocks up for grabs. President Akufo-Addo…
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AU delegation in town to assess Ghana’s bid to host African Continental Free Trade Area HQ
A 10-man delegation from the Africa Union (AU) is in the country to assess Ghana’s preparedness and facilities to successfully host the African Continental Free Trade Area Secretariat in Accra. The delegation, led by Ambassador Rosette Nyirinkindi Katungye, AU Advisor on Regional Integration, will spend the next seven days meeting government officials and inspecting facilities…
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ACEP demands immediate review of 13 petroleum agreements
The Africa Center for Energy Policy (ACEP) has urged government to, as a matter of urgency, review all existing Petroleum Contracts and their deliverables to ensure that companies who are not complying with their contracts are sanctioned appropriately. According to ACEP, out of the 15 active Petroleum Agreements, beyond the producing fields of Jubilee, TEN…
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Support Bank of Ghana to clean financial sector — CAL Bank MD
The Managing Director of CAL Bank Limited, Frank Adu Jnr, has urged stakeholders in the financial sector to support the Bank of Ghana as it cleans the sector. The Bank of Ghana, last week sent out a notice, strongly indicating that it will punish persons, companies or institutions dealing in the foreign exchange business without…