Category: Top Stories
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Hike in prices of food, transport and housing push inflation for March 2022 to 19.4%
Significant increases in the prices associated with food, transport and housing have pushed the national year-on-year inflation for March 2022 to 19.4 percent. This is according to the latest data from the Ghana Statistical Service. The rate is a 3.7 percentage points higher than the 15.7 percent recorded in February 2022. The rise in the…
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More partnerships needed to grow pharmaceutical industry – CalBank MD
Managing Director of CalBank PLC, Philip Owiredu is advocating for more partnerships and investments in the development of critical drugs and improve the logistics necessary to boost the local production and supply of pharmaceuticals in the country. According to him, this will help curb the over-reliance on imported drugs which has led to the decline…
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MoFA clarifies reports of an authorised $13.7 million soyabean export deal
The Ministry of Food and Agriculture has clarified reports that it has authorized a 13.7 million dollar soyabean export deal a day after it announced a restriction on the exports of maize and soyabean. According to the Ministry, the information is distorted, as the soyabean export deal preceded the new restriction on the exportation of…
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ADB Bank’s profit jumps by almost 25% in 2021 to hit GH¢ 81.6 million
The Agricultural Development Bank, ADB Bank has continued its trend of profitability in the year 2021, after seeing its profit before tax rose by almost 30% to hit GH¢126 million at the end of last year. Strong growth in the banks’ net interest income and net fees and commission income among others, contributed to its…
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Industry players blame high cost of Hotels in Ghana on economic situations
The Ghana Hotels Association says the high cost of hotel services is due to the economic situation in the country. This comes on the back of a recent revelation by the association that some international tourists are, due to this circumstance, compelled to spend up to 60 percent of their budget on hotel accommodation. In…
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Our investment in security systems will minimize fraud cases – GAB
The Ghana Association of Banks says its members have invested heavily in infrastructure to help prevent and detect fraudulent activities in their systems. President of the Association, John Awuah stated that “The good thing is as a community of banks the level of investment that we have undertaken to be able to stop these fraudsters…
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Access Bank’s profits before tax hits half a billion Cedis in 2021; profit after tax increases by 33.5%
Leading local Bank Access Bank Ghana PLC has seen a significant jump in its profits for the year 2021. The bank which recorded a profit before income tax of almost GHC 360 million in 2020, saw that metric jump up to a little over GHC 500 million in 2021, representing a growth of about 41%…
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MoFA pledges to check smuggling of maize, soyabean following restriction on grains exportation
The Ministry of Food and Agriculture has pledged to intensify its efforts to check the smuggling of maize and other grains to other countries. This follows government’s restriction on the export of maize and soya beans to ensure food security and increase local poultry and livestock production. The General Secretary of the General Agricultural Workers…
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Stock market doing well over uptick in participation of local investors – Analyst
Head of Research at Databank, Alex Boahen has attributed the increase in performance in trading activities on the local bourse to the impressive uptick in participation of local investors in the market. Despite ending the first quarter of 2022 with a loss of 1.67 percent compared the 13.9 per cent recorded at end of 2021…
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Construction giant WBHO appoints Ghana country director
The global construction giant WBHO has appointed Senyo M. Adjabeng as it’s Country Director for Ghana. Prior to his appointment, Mr. Adjabeng was the Human Resources Lead for the business in Ghana. He brings 20 years of experience working in various executive positions and sectors in Ghana including banking, consulting, judicial services and construction. Mr.…