Category: Top Stories
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Banks decrease minimum deposit required to open current accounts – BoG report
A survey of bank charges by the Bank of Ghana for the first quarter 2021 has revealed that the individuals would need at least GHS10 and not more than GHS100 to open a current account with a bank in Ghana. Analysis conducted by Citi Business News on banks’ charges for the second quarter of 2020,…
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DBG will fail if politicians, others interfere in its operations – Prof. Aryeetey
Secretary-General of the African Research Universities Alliance and a former Vice-Chancellor of the University of Ghana, Prof. Ernest Aryeetey, has cautioned the government against the establishment of another development bank that lends itself to unnecessary influence from politicians and civil servants. Professor Arteetey, a Development Economist, said the failure of previously established Development banks can…
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Government supports GNPC’s decision to acquire stakes in Aker Energy, AGM Petroleum deal – NAPO
Government says it fully backs the decision by the Ghana National Petroleum Corporation, GNPC, to acquire stakes in Aker Energy and AGM Petroleum Ghana Limited. This is according to the Energy Minister, Dr. Mathew Opoku Prempeh. The 1.65 billion loan billion dollar deal has been met with stiff opposition from civil society organizations who say…
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Ghana records $874 million of inbound investments in first half of 2021
Latest Data from Ghana Investment Promotion Centre, GIPC, indicates that the country recorded $874m in investments in the first half of this year from 122 projects. Of the total investments, the Foreign Direct Investment (FDI) component amounted to $829.29 million, while the local component accounted for $44.72 million. This is an increase 32.15% over the…
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BOST to take delivery of pipelines from US after 12-year delay
After a twelve-year delay, Ghana through the Bulk Oil Storage and Transportation Company Limited (BOST) will take delivery of some pipelines from the United States of America. The equipment cost the country a total of $63 million dollars, but an additional $8 million has already been used to repair some of the yet-to-be shipped pipelines…
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Parliament must ensure Aker Energy, AGM deal is value for money – ASEPA
The Alliance of Social Equity and Public Accountability (ASEPA) is urging Parliament to thoroughly scrutinise the deal by the Ghana National Petroleum Commission (GPNC) to increase its shares in Aker Energy and AGM Petroleum. Speaking during a press conference, Executive Director of ASEPA, Mensah Thompson, said the legislative arm of government must work to ensure…
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Cedi likely to experience further marginal depreciation this year – Economist
With exactly four months to the end of the year 2021, the Ghana Cedi is expected to experience some further marginal depreciation against the U.S Dollar, following a recent period of weakening. After showing a rare determination to shed only about 3.8 percent of its value against the US dollar last year, the local currency…
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Freddie Blay maintained as Board Chair of GNPC
The President, Nana Akufo-Addo, has re-appointed Freddie Blay as the Board Chair of the newly re-constituted seven-member board of the Ghana National Petroleum Corporation, (GNPC). Freddie Blay who has served as Board Chair for the past four years will continue in the same capacity. Mr. Blay is expected to support the management of GNPC, led…
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Our Job Centre has created over 1000 jobs despite COVID-19 pandemic – YEA
The Youth Employment Agency (YEA) says notwithstanding the setback caused by the outbreak of the COVID-19 pandemic, its Job Centre has helped over one thousand youth gain employment. The Job Centre was launched in October 2019, as part of efforts towards making the agency a one-stop-shop employment agency facilitating the employment of the youth in…
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GRA to reject companies’ expenses without VAT invoice from October 1
The Ghana Revenue Authority (GRA) says it will reject any expenditure incurred by any company in Ghana without a Value Added Tax (VAT) invoice starting from October. This, according to the Authority, forms part of moves to, among other things, ensure that all tax revenue leakages are sealed. Over the years, the Ghana Revenue Authority…