Tag: Ghana Business News
-
High NPLs to tighten credit to the private sector
Financial sector analysts are predicting a further contraction in credit to the private sector following their high contribution to the Non Performing Loans (NPL) of banks. They argue that the development which threatens the banking industry is also likely to freeze the growth of Ghana’s banking sector. According to the Executive Director of the Policy…
-
Stock market growth to continue to year-end – Analysts
Stock market analysts are confident that the positive performance of the Ghana Stock Exchange will continue till the end of 2017. After recording negative growth for about two consecutive years, the market is said to be recording a positive turn at least as at the middle part of the year. The Managing Director of the…
-
Textile workers unhappy with ‘stimulus package’ for pirated textiles
The Local Textile Workers’ Association has expressed displeasure at government’s plan to offer financial support to solve the smuggling of pirated goods onto the local markets. Although they admit they are in need of financial help, they are confident it will not address the issue which remains the biggest challenge in the industry. Their assertion…
-
Ghana receives €100m from Germany’s ‘Compact with Africa’ programme
Ghana is to benefit from a €100 million funding support from Germany as part of its “Compact with Africa” programme. The funds are targeted at supporting the government’s infrastructure development and enhance investment opportunities for private sector growth. Ghana is one of three African countries which have been signed on for this year’s allocations. The…
-
Private sector accounts for 98% of banks’ NPLs – BoG report
The banking industry’s stock of Non-Performing Loans (NPLs), increased by 24.5 percent between April 2016 and April 2017, the Bank of Ghana’s latest banking sector report has shown. The industry’s NPL went up from 5.74 billion cedis in April 2016 to 7.15 billion cedis in April 2017. According to the report, the private sector accounted…
-
All shareholders must agree to delist CPC – COCOBOD
It appears that appeals to delist the Cocoa Processing Company (CPC) from the Ghana Stock Exchange, may not be heeded anytime soon as the majority shareholder, the Ghana COCOBOD, is yet to make any decision on the issue. Workers of the CPC, last month, ignited calls for the company to be removed from the list…
-
Planting for food and jobs not under-subscribed – Minister
Agric Minister, Dr. Owusu Afriyie Akoto has rubbished claims that farmers are not patronizing government’s planting for food and jobs programme. There were earlier reports which suggested lack of interest in the initiative on the part of the farmers. According to Dr. Afriyie Akoto, the initial target of registering 200,000 farmers forms part of the…
-
NPRA targets 80% informal pension enrolment
The National Pensions Regulatory Authority (NPRA) has disclosed of plans to achieve at least 80 percent subscription by informal sector workers within the short to medium term. The pensions’ regulator believes the move which will largely be on the Tier 3 pension scheme, will promote financial inclusion and increase insurance penetration. “We have about 13…
-
COCOBOD launches artificial pollination programme
A Hand Pollination Piloting Program has been launched by the Ghana Cocoa Board to boost production of cocoa to 1 million tonnes by 2020. According to the CEO of COCOBOD, Mr. Joseph Boahen Aidoo, at a time where the world market price of cocoa is fluctuating, the hand pollination program will “compensate for the fall in…
-
Ghanaian businesses must strategize over Brexit – UK/Ghana Chamber
The UK-Ghana Chamber of Commerce has ruled out any significant impact on Ghana’s economy with regards to the outcome of the UK election. The general election ended in a hung Parliament, where no party secured the 326 seats needed to get an overall majority in the House of Commons. In an interview with Citi Business…