Tag: Ghana Business News
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Dr. Mahamudu Bawumia opens Ghangeria Rising Conference
Vice President, Dr. Mahamudu Bawumia will be opening this year’s edition of the Ghangeria Rising Conference in Accra. The conference is scheduled for Thursday, 10th May, 2018 at the Kempinski Hotel Gold Coast City, Accra. It will assemble key investors, businessmen and women, policy makers and regulators to discuss trade, business and investment opportunities between Ghana and…
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Ex Capital bank workers lament locked up providence funds
Former workers of defunct Capital bank are livid over what they say is the calculated attempt by their fund managers not to pay their providence funds. The disclosure comes despite the approval by the receiver of the joint purchase and assumption of UT and Capital banks, PricewaterhouseCoopers (PwC), for payment of such funds to the…
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Govt to insure all state assets – Osafo Maafo
Government will soon roll out a policy that will ensure all state owned companies and assets are insured by local insurance companies in the country. The move according to Senior Minister Yaw Osafo Maafo, is to reverse the low insurance penetration in the country. Insurance in Ghana has for years, remained at just two percent…
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Ex-workers of collapsed Capital, UT Banks to petition Nana Addo over benefits
Former workers of defunct UT and Capital banks have served notice they will petition President Akufo-Addo this week, over the delay in the payment of their severance packages. According to the former workers, after over eight months of being asked to go home due to the collapse of the banks, they have been adversely affected by…
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Erratic power supply hampers industrialisation in rural areas
Businesses expanding or seeking to extend their operations into rural communities are skeptical of their prospects with the prevailing situation of unreliable power supply in such communities. The Country and Sales Marketing Manager of Voltic Ghana, Raymond Mensah Gbetiv believes such issues must be addressed critically if government is to achieve major policy initiatives on industrialisation. Mr.…
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Uber yields to negotiation with drivers over concerns
Uber is set to engage its drivers to address their concerns on declining profits. The company has disclosed to Citi Business News it will engage the drivers to assess their concerns and arrive at a compromise. The response comes days after some disgruntled drivers of the transport service provider, embarked on a demonstration to protest…
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Trade Ministry intensifies plan to clear foreign retailers
Deputy Trade Minister, Carlos Ahenkorah has said, the ministry is developing strict measures to remove foreigners from Ghana’s retail market. Mr. Ahenkorah disclosed that the ministry has come up with pragmatic ways to deal with the issue of foreigners trading in Ghana’s retail market. “That breaking of the commercial law where some Chinese citizens unknowingly…
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Mobile money interoperability goes live on May 10
The Ghana Interbank Payment and Settlement Systems (GhIPSS) has disclosed that the mobile money interoperability will go live on Thursday, May 10, 2018. According to the CEO of GhIPSS, Archie Hesse, the rolling out of the system will follow the launch by the Vice President, Dr. Mahamudu Bawumia. The mobile money interoperability is the first…
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Mobile money boosts MTN’s 2018 first quarter growth
MTN Ghana has recorded a 29.3 % increase in revenue for the first quarter of 2018. This growth has largely been driven by increased data and mobile money subscription for the telecoms giant. For the first three months of this year, MTN recorded more than fifty percent rise in revenue from the sale of data.…
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Monitor stimulus package use to avoid ‘waste’ – AGI to govt
The Association of Ghana Industries (AGI) is demanding that the government comes clear on how it intends to account for the stimulus packages that it is offering to distressed companies. The AGI fears that the taxpayer risks losing hugely if beneficiaries are unable to account for their allocation. Meanwhile the AGI’s business barometer report has…