Author Archives: Businessghana

SIC Insurance will use MoMo to spur penetration

SIC Insurance, one of the country’s biggest insurers, has said it will soon outdoor an innovation that allows customers to purchase non-life insurance policies using mobile money, among other mobile payment channels, as part of plans to consolidate its market position. Speaking at a media interaction over the weekend, its Managing Director, Stephen Oduro, said the indigenous insurance company is ...

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Agyarko’s 3 deputies must go too – IES

The Institute for Energy Security (IES), an energy think tank, has said President Addo Dankwa Akufo-Addo must sack all three deputies of former Energy Minister, Boakye Agyarko, over the failed AMERI power renegotiation agreement. Executive Director of the Institute, Paa Kwasi Anamua Sakyi, said in a statement that it cannot be the case that Mr Agyarko acted alone in the controversial ...

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Meet PetroChina the company that beats Apple to 1 trillion Market Cap

PetroChina

Apple claimed the title yesterday, becoming the first U.S. publicly traded company to hit the 12-zero mark. However, you might be surprised to find that Apple is not the first company to achieve this distinction. Even more surprising: You’ve probably never heard of the company that beat it, PetroChina (NYSE:PTR). Petro-who? PetroChina is a state-controlled company in China, and when it went public, it ...

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What you should know about the GN Bank, Premium Bank & Sahel Sahara Bank Merger

GN Premium Sahara Merger

The literature on how M&A impacts value pre- and post-merger or acquisition, is checkered. There is evidence to support the view that M&A in most cases tend not to deliver on the value proposition that was originally intended. The scholarly thought appears to converge on this fact. For instance, Barnoh & Adu-Twumwaah (2015), citing Brealy and Myers (2010), argues that ...

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Personal Finance 101: How to start budgeting

Budgeting

Why budgeting? that’s the thought that comes to mind whenever professionals are paid at the end of the month. Whenever the salary drops in the account, all kinds of expenses come to mind. Sometimes, you always think “after all next month’s salary go happen so why I for plan for the month. I am sure there have been cases where ...

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Pass “Proper Test” before going Digital – BOG

MFI Digital Space

Microfinance companies interested when introducing digital products and services, including agency banking and mobile money, must first meet the central bank’s ‘fit and proper test’ including GH¢2million minimum capital. Head of Payment Systems at the central bank, Dr Settor Amediku, told players in the Microfinance space at the annual general meeting of the Ghana Association of Microfinance Companies (GAMC) that ...

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Cocoa Prices on the International Market Tumble

Cocoa Prices

Prices of cocoa on the international market have begun to tumble due to investors expectations of an imminent increase in production from top growing countries, Côte d’Ivoire and Ghana. Côte d’Ivoire, which is the world’s largest producer, is projecting a production of about 1.9 million tonnes, while Ghana is hopeful of meeting its 850,000 tonnes target for the season, something ...

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73% of Ghanaians working in vulnerable conditions —Report

Vulnerable conditions in Ghana

A report published by the Trades Union Congress (TUC) has revealed that 73% of Ghanaian workers operate under vulnerable conditions. The report also points out that a majority of Ghanaian workers receive less than 2 dollars a day, and do not have any form of pension contributions. Out of the employed population of 11.21 million, 64.3 % who are self-employed ...

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MTN Is Said to Start $754 Million Ghana Unit IPO Next Week

mtn ghana

MTN Group Ltd will start selling more than a third of its Ghanaian unit for $754 million next week in an initial public offering that will be 10 times larger than the West African nation’s previous biggest-ever share sale, according to a person familiar with the matter. The offer to raise 3.48 billion cedis of stock will start May 29 and close at ...

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Cashew Development to be established Soon – President

cashew

The Cashew Development Board will by the end of June 2018 be established to regulate the cashew industry, President Nana Addo Dankwa Akufo-Addo has announced. The president said this when he interacted with some traditional rulers in Sunyani to round-off his three-day official visit to the Brong Ahafo Region. He was accompanied by some Ministers of State and Members of ...

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