Category: News
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Cylinder Recirculation Model not abandoned—Hassan Tampuli
The National Petroleum Authority (NPA) has started meetings with stakeholders in the LPG value chain this week to deliberate on possible timelines for the implementation of the Cylinder Recirculation Model. Already, the National Petroleum Authority has said that it is ready to begin the implementation of the Cylinder Recirculation Model of LPG distribution in the…
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OmniBank, Sahel Sahara bank complete merger; now OmniBSIC
OmniBank Ghana Limited and Sahel Sahara Bank Ghana limited (BSIC) have merged into a new entity named Omnibsic. The two entities thus will effective today (4th March) operate under the merged name Omnibsic. The merger was necessitated in their bid to meet the meet the Bank of Ghana’s new minimum capital requirement of 400 million…
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Cedi depreciation tilting towards EIU predictions
As the cedi continues to show some weakness against the dollar, there are calls from observers to halt the rate of depreciation the currency to stabilize prices. The local currency since the beginning of the year has seen over 8.6 percent depreciation, causing currency analysts to question measures put in place to stabilize the cedi.…
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Importers advocate use of Chinese Yuan to reduce FX pressures
The Business Community is pushing for an immediate introduction of the Chinese Yuan as a major trading currency in Ghana to reduce pressures on the Foreign Exchange (FX) market. This, according to business owners especially importers, will reduce the pressure on the dollar which accounts for the free fall of the cedi. China is Ghana’s…
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Guinness Ghana launches promo to reward customers with a million cedis
Guinness FES has once again proven to be Ghana’s favourite stout with the launch of a national consumer promotion. The campaign is aimed at giving Ghanaians an opportunity to win a share of GHS1 million and millions in instant prizes including 620,000 free bottles of Guinness as the nation celebrates 62 years of independence. The…
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FBN Ghana working with EXIM bank to invest in agric–CEO
FBN Bank Ghana Limited, has disclosed that it is working in close collaboration with the EXIM Bank to support businesses interested in entering the agricultural sector. According to the bank, it will use its experience of supporting such businesses from Nigeria to do same in Ghana. A number of banks in the country have over…
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GHACEM Kumasi depot goes live
Ghana’s leading cement manufacturer Ghacem, has in a bid to centralize its operations for efficient service delivery, linked its Kumasi Depot to the Data One Server to facilitate prompt processing of the sales and requests for cement products. Launching the system at the company’s depot in Kumasi on Wednesday 20th February 2019, The Head of…
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Prices of fuel exceed 5 cedis per litre mark—IES
Consumers should brace themselves to pay more for fuel at the various pumps as the price exceeds 5 cedis per litre. This is according to the Institute of Energy Security (IES). The IES says the increment in price of fuel is occasioned by the 6.33% rise in average Brent crude price, as well as a…
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Global cocoa surplus of 71,000 T seen in 2018/19 – Informa
A global cocoa surplus is expected in the 2018/19 season, Informa’s Agribusiness intelligence said on Thursday, with record production driven by favourable weather in West Africa. Global cocoa production was seen hitting a record high of 4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report.…
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Jumia and Xiaomi partner to drive smartphone penetration in Africa
Jumia, Africa’s leading e-commerce platform, has signed an important partnership with technology leader Xiaomi at the Mobile World Congress in Barcelona, giving millions of users in Africa easy access to Xiaomi products. Through the partnership, Jumia will open the Mi official store on its platform and give Xiaomi access to millions of online customers across…