Author Archives: Businessghana

Inflation drops to 6-yr low

Consumer Price

The general prices of goods and services in the country fell by 0.4 percentage points to 9 percent, the lowest ever recorded since January 2013 when the rate hit 8.8 percent – making a strong case for the Bank of Ghana to further cut its policy rate. The fall, according to the statistical service, can be attributed to a decline ...

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Telcos threaten court action over costly fibre cuts

Mobile telecom operators have said they will take legal action against those who destroy their underground cables and disrupt communication services, leading to revenue losses and costly repair works. Road works and other forms of construction work by property developers, farming activities, utility providers often lead to the digging up and destruction of fibre cables buried underground. According to industry ...

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More local investors show interest in economy

GIPC - local investors

In spite of capital formation challenges, more home-grown investors are taking up investment opportunities in the economy, the Ghana Investment Promotion Centre (GIPC) has said. GIPC, the agency entrusted with making the country sellable, said lately it has seen a rise in the number of Ghanaians knocking at its door for opportunities. It said indigenous investors, just like foreign ones, ...

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Strong rural banks should capitalise on banking reforms— Dr Toni Aubynn

Dr Toni Aubynn

The Board Chairman of Amenfiman Rural Bank, Dr Toni Aubynn, has suggested that the strong rural banks, should capitalise on the opportunities that have been created following the reforms in the banking sector. Dr Aubynn observed, for instance, that the Amenfiman Rural Bank continued in that regard to explore the chances that had been created, complemented by its innovation in ...

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MTN Planning to Sell Shares in Jumia after IPO

Jumia

African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5 billion, according to people familiar with the matter. Jumia’s largest shareholder MTN Group Ltd. is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people, who asked not to ...

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THE 23RD INTERNATIONAL TRADE FAIR IS FEBRUARY 28- MARCH 11

The 23RD Ghana International Trade Fair is scheduled to take place at the Trade Fair Centre La Accra from February 28, through to 11th March 2019. The fair which has it’ s theme ‘Made in Ghana, Globally Accepted,’  has the trade Expo under the auspices of the ministry of Trade and  Industry and partnered by Ministry of Business Development, Ghana ...

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GLOBAL FOREX AND STOCK INDEX ANALYSIS AND FORECAST 2019

2018 was a good year in the financial markets with many investors recording two to three digits annual percentage returns on various portfolio investments with diverse asset classes. The year was favourable for many asset classes – particularly the US dollar, as we saw the dollar appreciate massively against its major trading currencies for the greater part of theyear. The ...

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Danquah Institute Predicts MPS port project will lead to $2bn, 1,400 job loss if not renegotiated

The Danquah Institute (DI) has served notice that it will take legal action against the parties involved in the building and operation of a new terminal at the Tema Harbour if the parties do not renegotiate the terms of the project to ensure that the country is not shortchanged. The pro-government think tank has issued a 60-day ultimatum to those in ...

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MTN To Acquire Banking Licence, CEO Says

mtn banking licence

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019. Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN CEO said it will put in an application in December and should lunch the bank in second quarter 2019. “We will be applying for a ...

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