Author Archives: Businessghana

Education Minister misled Parliament on Mahama’s free education policy – Ablakwa

Ablakwa jabs

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa says the Education Minister, Dr. Matthew Opoku Prempeh misled Parliament by stating that the previous administration made no allocation for its Progressively Free Education Programme before it exited office. According to the former Deputy Education Minister, “Government released all funds being 12.78 million Ghana Cedis. This covered the period September to ...

Read More »

Tullow Oil’s outlook lifted by higher output, oil prices

Tullow Oil

Tullow Oil raised its production targets on Wednesday thanks to higher output from its flagship West African fields as higher crude prices brightened the outlook for the debt-ridden explorer. The London-listed firm also slashed its 2017 spending target by a quarter to $300 million due to lower expenses in East Africa, and reduced its debt to $3.6 billion while increasing ...

Read More »

Broadband connections in Africa to double in the next five years- Report


Africa’s mobile internet connections are set to double in the next five years, thanks to affordable smartphones and the roll-out of high-speed networks. A report by research and consulting firm Ovum in London estimates that mobile broadband connections will rise from 419-million at the end of 2017, to 1.07-billion by the end of 2022. “Data connectivity is growing strongly in ...

Read More »

2018 budget to improve domestic revenue collection

new tax initiatives

Finance Minister, Ken Ofori-Atta has stated that the 2018 budget which will be presented in parliament later this month will use innovative ways to improve domestic revenue collection for economic development. This follows calls from the Institute of Fiscal Studies, urging government to use the 2018 budget to improve tax collection by broadening the tax base. Speaking at the 38th ...

Read More »

Cedi Remains flat this week

Cedi / Dollar Performance

The Ghana cedi is seen flat this week as dollar inflows continued to thin out amid a week-long sale of a six billion cedi ($1.36 billion) government-sponsored energy bonds that ended on Friday, analysts said. The cedi, which has been fairly steady in recent weeks, weakened marginally last week on renewed corporate dollar demand. It was trading at 4.4075 to ...

Read More »

Traders in Mankessim optimistic about Yuletide sales


Traders in Mankessim in the Mfantsiman Municipality of the Central Region have expressed hope and optimism about increased sales returns during this yuletide. According to them, last year’s sales dipped due to the political tension and uncertainties that enveloped the nation before, during and after the election. Speaking in an interview with the Ghana News Agency (GNA) on Saturday, the ...

Read More »

ESLA PLC successfully closes 10-year bond at 19.5%

graduate unemployment

E.S.L.A PLC, successfully closed its books for the issue of the ESLA bonds on Friday 3rd November 2017, after extending the timeline for the issue of the 10-year bond by one week. Investors may recall that E.S.L.A PLC successfully closed its books for the issue of the 7-yeafr bond on Friday October 27th and accepted GHc2.42 billion of the 7-year ...

Read More »

Ghana to Receive $100m from IMF


The International Monetary Fund (IMF) is expected to disburse the 5th tranche of the Extended Credit Facility (ECF) to Ghana within the coming weeks. It follows the fifth review of Ghana’s performance under the program, last week. understands the Fund has not been very satisfied with government’s missing of the revenue targets considering the ambitious policies being rolled out. ...

Read More »

HFC Bank to raise GH¢50million on GSE


HFC Bank has begun processes aimed at raising some Gh¢50 million through the Ghana Stock Exchange (GSE). It follows approval from the Board of Directors of the Bank at its Extra Ordinary General Meeting. The funds raised from the offer are expected to help the bank meet the new Gh¢400 million minimum capital requirement set by the Central Bank. Starr ...

Read More »

I’ve no problem with those interested in 2020 – Mahama


Former President John Mahama appears unperturbed about the opposition he is likely to face in the National Democratic Congress’ (NDC) presidential primaries ahead of the 2020 general elections. He said he has no problem with the candidates who have so far declared their intentions of leading the party in the next presidential election. Whilst addressing thousands of party supporters in ...

Read More »