Business

How technology can help combat payroll fraud in Africa

Payroll Fraud

The Association of Certified Fraud Examiners says more than 25 percent of companies experience payroll fraud, with smaller businesses facing double the risk compared to larger organisations. Sometimes, it’s simply a case of human error, but it’s more often than not instigated by opportunistic and dishonest payroll administrators. A 2016 PwC survey shows that 69 percent of South African companies ...

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Yenko Taxi Services launched in Gt. Accra

Yenko Taxi

Local transport unions are beginning to express interest in phone applications that will provide commuters with services upon request. Ghana’s transport system has seen improvement with online applications which has led to higher levels of competition in the country’s transport system. Speaking at the launch of Yenko Taxi Services, CEO of the company, Mr Kalsum Appiah said the company is ...

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Ghana’s 2016 Gold Output Increases To 4.13M Ounces

Ghana’s gold output rose 46 percent in 2016 compared to the previous year as new projects came on stream and artisanal mining output expanded, the Ghana Chamber of Mines said in a report on Friday. Total gold output stood at 4.13 million ounces, the highest level in nearly 40 years, up from 2.84 million ounces in 2015, the report said. ...

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COCOBOD endorses Electronic Payment to farmers

The Progressive Licensed Cocoa Buyers Association has received support from Ghana Cocoa Board (COCOBOD) to set up an electronic platform to pay cocoa farmers across the country. This follows the association’s application to the Ghana Cocoa Board (COCOBOD) to issue ‘No Objection’ letter to the Central Bank in support of its proposal to set up an electronic platform to pay ...

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Fuel prices to go up by 4% in June- IES

The Institute of Energy Security (IES), is predicting a 4 percent increase in fuel prices for the first pricing window in June. Principal Research Analyst at the Institute, Richmond Rockson attributed the development to the depreciation of the cedi by 1.18 percent, as well as an increase in prices of gas oil and gasoline. “When you look at the figures ...

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Reducing cost of doing business: Minister unveils action plan

New and existing businesses seeking documentation for their operations should be able to do so within a relatively shorter period effective end of this month. It follows the implementation of a rapid reform action plan towards reducing the duration of registration and cost of doing business in Ghana. The new agenda being pursued by the government together with the private ...

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Unilever targets healthy growth and revenue in 2017

Unilever

The management of Unilever Ghana Ltd says it is confident of good performance in 2017 which would return the company to healthy growth in both revenue and profit. This, the company said, would be achieved through expansion of outlets and other alternative channels to get closer to consumers. “We are happy to report that we closed the year 2016 with ...

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Ghana’s honey industry gets boost with first honey-based drink

Honey Industry

Last week witnessed a major paradigm shift in Ghana’s local honey industry as the demand for the commodity has now moved into a commercial drive. Over the years, Ghana’s local honey industry has received little attention from government, policy makers and investors despite it’s enormous economic and health benefits. The local honey and bee farmers have been crying out loud ...

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Banks must respond to policy rate cut—GCCI

GCCI policy rate

The Ghana Chamber of Commerce and Industry (GCCI) has called on banks to reduce their lending rates to reflect the recent cut in the Bank of Ghana’s policy rate. The Monetary Policy Committee (MPC) of the Bank of Ghana, on Monday, reduced its policy rate by 100 basis points to bring the policy rate down to 22.5 percent. The GCCI, ...

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Ursula urges Chinese investors in One District One Factory

chinese investors

The Minister of Communications, Mrs Ursula Owusu-Ekuful, has invited Chinese investors in the information and communications technology (ICT) industry to take advantage of the government’s one-district, one-factory policy to invest in that area. She acknowledged that most of the consumer goods on the market today were manufactured in China, saying: “When it comes to consumer goods, if you look at ...

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