Category: Local Economy
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COCOBOD secures $1.5 billion syndicated loan for 2021/2022 crop season
The Ghana Cocoa Board (COCOBOD) has signed an agreement for a $1.5 billion syndicated loan facility for the 2021/2022 cocoa crop season. This is the largest loan facility so far in its history. The funds, which will be used to purchase cocoa beans for the 2021/2022 crop season, have an interest rate of 1.1 percent…
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Registrar General’s Department to publish names of 222 companies expunged from its register
The Registrar-General, Jemima Oware, says her outfit will, from October 1, publish the names of two hundred and twenty-two dormant companies whose names have been struck out of the Companies Register. According to her, these companies will be classified as being inactive and will not be able to be accessed for any business transaction for…
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Official Liquidator to host investor class meeting for customers of defunct FMCs
The Official Liquidator for the defunct Fund Management Companies (FMCs) will on Thursday, September 23, 2021, have an investor class meeting with customers of some of the financial defunct institutions. A statement issued by the Registrar-General, Jemima Oware, stated that the meeting will be held online on the said date. The statement also announced that…
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We’re settling our clients via payment schedule – Legacy Fund Management
Legacy Fund Management Limited has assured its customers affected by the clean-up of the sector that they will receive their monies in full. The company urged them not to panic, as it is going through all the processes to ensure that they receive their monies. This follows calls some customers made to government to expedite…
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We’ll arrest and prosecute persons engaged in light fishing – Hawa Koomson
Fishermen engaged in light fishing will be arrested and prosecuted, the Minister for Fisheries and Aquaculture, Hawa Koomson has warned. Such an action, she says, has become necessary to bring an end to the act. It is estimated that three million Ghanaians depend on the fishing sector for their livelihood. Fishing is considered not just…
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GCS Fibers LLC to establish 12 factories in Ghana
Ghana’s manufacturing sector is set to experience a massive boost following plans by US-based fibre manufacturing firm, GCS Fibers LLC (GCS) to establish its plant in the country. GCS produces mineral fibre with ash coal as a raw material. The Plant when established will supply factories in Ghana with various paper and household raw materials.…
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Telcos Chamber cautions against taxing mobile money in Ghana
The Ghana Chamber of Telecommunications has urged government not to consider the possibility of taxing mobile money in the short to medium term. This follows ongoing concerns amongst mobile money agents and other stakeholders of a likely introduction of some taxes on mobile money transactions. Data from the Bank of Ghana over the years shows…
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Ghana’s economy grew by 3.9% between April and June 2021 – GSS
Ghana has recorded a Gross Domestic Product (GDP) growth rate for the second quarter of 2021 at 3.9%. This means that the economy between the period of April to June this year has grown by 3.9% The Gross Domestic Product is the final value of the goods and services produced within the geographic boundaries of…
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Energy sector workers risk losing their jobs if power loses are not curbed – Energy Minister
Energy Minister Matthew Opoku Prempeh says the jobs of staff of the Electricity Company Ghana Limited and other power distribution companies will be at risk if the energy sector continues to record the level of losses the industry is currently recording. The Electricity Company of Ghana is on record to be losing as much as…
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GREDA wants government to take the lead in adoption of local building materials
The Ghana Real Estate Developers Association (GREDA) is calling on the government to take the lead in the use of local materials for construction in Ghana. This according to the association will boost the confidence of the public in local building materials. In the wake of the high cost of rent in Ghana and the…