Business

Ghana crosses deadly 70% mark with ¢120 bn debt

debt

Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016 to the current figure. By ...

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NCA struggles to justify sweetheart ICH deal

NCA

The National Communications Authority (NCA) has courted controversy by awarding a multi-million cedi revenue assurance contract to Afriwave Telecom Ghana Ltd., when Subah Infosolutions is already performing that task. Revenue assurance is a form of audit that verifies directly from the network telecom companies the volume of traffic and juxtapose it with the taxes the companies pay, to correct anomalies. ...

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Business grinds to a halt in Kumasi ahead of Funeral

Business activities are expected to grind to a halt in Kumasi Thursday, as the late Asantehemaa is laid to rest in the evening. The Manhyia Palace, ahead of the burial of Nana Afia Kobi Serwaa Ampem II at the Bremang Mausoleum, ordered the closure of all shops. Banks and other financial institutions, though are unaffected by the directive, say they ...

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IMF hints at bailout renegotiation with Government

imf - Ivory Coast

The International Monetary Fund (IMF) has given an indication it is open to renegotiating some success benchmarks of its ongoing 3-year External Credit Facility (ECF) programme with the government of Ghana, following government’s inability to keep to the 5.2percent fiscal deficit target. In an email response to questions posed by the B&FT, a spokesperson for the Fund in Washington said ...

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Investors’ sentiments titled towards optimism

ghana stock exchange

Investors’ sentiments slanted towards positivity in the first trading week of the year as the Ghana Stock Exchange (GSE) bourse opens on a bullish note, signalling a favourable year for equities. Consequently the benchmark GSE-Composite Index rose by 0.6 per cent to close at 1,699.4 points, representing a year-to-date return of 0.6 percent, and the total volume traded was 4.3 ...

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Total Ghana is now ISO certified

Total Ghana

SGS, the world’s leading inspection, verification, testing and Certification Company awarded Total Petroleum Ghana Ltd. with the ISO 9001:2015 certification on Friday, December 23, 2016,. After a successful transition audit by SGS in the areas of procurement, storage, marketing and delivery of petroleum products, solar lamps and special products, Total Petroleum Ghana Ltd. has been found to meet this world ...

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Ghana Free Zones Board gets new office complex

The Minister of Trade and Industry, Dr. Ekow Spio Garbrah has on behalf of President John Mahama commissioned an office complex for the Ghana Free Zones Board(GFZB) in Cantonments, Accra. The four storey ultra modern building will host investors who visit the country to seek for investment opportunities in Ghana’s Free Zone Enclaves. Speaking after the commissioning, Dr. Spio Garbrah ...

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Restructure COCOBOD, don’t move it to Agric Ministry- GAWU

Cocoa Prices

The General Agriculture Workers Union (GAWU) has called for a restructuring of the Ghana Cocoa Board(COCOBOD) to make it efficient rather than just moving it from the Ministry of Finance to the Ministry of Agriculture. Shortly after the president-elect, Nana Akufo-Addo hinted that the outgoing Member of Parliament for the Kwadaso constituency, Dr Owusu Afriyie Akoto will be the Agriculture ...

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Gov’t extends Subah Infosolutions revenue monitoring contract

The outgoing government has extended its contract with IT firm, Subah Infosolutions for the monitoring of revenues generated by telecommunication companies in the country. A letter dated December 1, 2016, and signed by Ghana Revenue Authority (GRA) Commissioner-General, George Blankson, said Finance Minister, Seth Terkper has given his approval to that effect. “We wish to inform you that Subah Infosolutions ...

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Shea butter business booms due to harmattan

As harmattan season intensify, dealers of the one product “Shea butter” most Ghanaians use to keep their bodies in sharp seem to have seen a rise in sales. Information available has shown the rise in patronage of shea butter popularly known as “nkuto.” A quick survey conducted in across major markets within the Kumasi Metropolis, to determine the connection between ...

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