Category: Top Stories
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Government to release GHS800 million for payment of contractors
The Minister for Roads and Highways, Kwesi Amoako-Atta says GHS800 million has been made available for the payment of works executed by road contractors across the country. This follows agitations by some contractors over the delayed payment for projects completed, in some cases as far back as 2016. Some had threatened legal action against the…
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Banks see strong growth in their asset base in 1st half of 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows steady growth in their total assets. While banks like UBA Bank and OmniBSIC Bank saw their asset base grow by almost 40 percent at the end of the first half of 2021, when…
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Construction Chamber welcomes formation of Road Fund Board
The Ghana Chamber of Construction Industry has welcomed the announcement by the government of the constitution of the Road Fund Board. The chamber has been at the forefront of calls on the government to constitute the board so its members who are in some cases owed since 2017 can be paid for projects executed. Chief…
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ADB leads in profit growth rate as banks remain profitable in 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows promising increases in profits for some and some slowdown in profit growth for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 13 of Ghana’s top banks covering January…
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GIPC, Information Ministry launch ‘Spark Up’ Investment Summit
The Ghana Investment Promotion Centre (GIPC), in collaboration with the Ministry of Information (MOI), on Tuesday, August 3, 2021, launched the annual investment summit dubbed ‘Spark Up’, at the Kempinski Hotel Gold Coast City. Themed “Reawakening the Giant: Maximizing Ghana’s Investment Potential”, the Summit, which will take place on September 6, 2021, will engender open…
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10% of ECG’s revenue unaccounted for – Energy Minister
At least 10 percent of electricity produced by the Electricity Company of Ghana and consumed by the public cannot be accounted for, the Minister of Energy, Dr Matthew Opoku Prempeh, has revealed. The situation, he said, meant that for every 1,000 megawatts of electricity sold, 100 megawatts is unaccounted for, insisting that a company with…
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New gold refinery to start in October – PMMC
Barring any last-minute hitches, Royal Gold Ghana Limited (RGGL), a refinery in which the state has a 20 per cent stake, will begin operation by the end of October this year. The RGGL, which is a partnership between the Precious Minerals Marketing Company (PMMC) and Rosy Royal Limited, an Indian company, is located on the…
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Maiden AfCFTA-Angola Business forum held in Accra
The maiden African Continental Free Trade Area (AfCFTA) – Angola Business Investment Forum, has been organised in Accra to boost bilateral businesses. The event forms part of activities marking the three-day official visit of President João Manuel Gonçalves Lourenço of Angola to Ghana. The aim of the Forum was to further expand bilateral business relations…
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Cede majority stake in TOR to private investors to ensure its success – IES
Government has been urged to cede majority of its stake in the Tema Oil Refinery (TOR) to private investors, to ensure it attracts the needed investment to succeed. This advice was given by the Institute for Energy Security (IES). The proposal comes on the back of the recent appointment of Ghana’s former Ambassador to China,…
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ISSER reiterates need for assessment of newly introduced taxes
The Institute for Statistical, Social and Economic Research (ISSER) has called for a critical assessment of the new taxes imposed on the country in the early part of this year. The government, as part of its revenue mobilization drive, introduced some levies and taxes in the 2021 budget, a move many criticized. The taxes include…