Business

Investors neglect GAX despite improved performances

performing stock markets

Despite the continuous decline in interest rates on fixed income securities, investors looking to cash in on stocks have and continue to neglect the four listed equities on the Ghana Alternative Exchange (GAX), preferring stick to the main bourse. A 2017 half-year review of the economy and the capital market by FirstBanC Research, a subsidiary of FirstBanC Financial Services, indicates ...

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Ghanaian businesses prefer cash payment to electronic—Report

Mobile money fraud

A new report from ‘Better Than Cash Alliance’, an organization under the United Nations (UN) has shown that Ghanaian businesses prefer to pay in cash rather than make payments electronically. The report, titled, ‘Building an Inclusive Digital Payments Ecosystem’, points out that the total value of payments made in 2016 was 561 billion cedis. Out this figure, 37 percent was ...

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SMEs lead job creation, with a 71% share of workforce – GSS report

smes

Despite the inadequate support given to small and micro-sized establishments, they remain the leading employers – absorbing as much as 71.4 percent of the country’s total workforce, according to the latest edition of the Integrated Business Establishment Survey (IBES II) by the Ghana Statistical Service (GSS). The IBES II, which sampled 3,102, 917 persons from 31,152 establishments out of a ...

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Looking for a country to invest in Africa? Check this out

invest

One of the most important findings of Rand Merchant Bank’s (RMB) seventh edition of Where to Invest in Africa is that the continent could find itself hovering on the brink of disaster if it continues to depend on its current economic fundamentals and does not usher in economic diversification. Where to Invest in Africa 2018 highlights those countries that have ...

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Fuel increment parry unforgivable – MP

fuel increment

The Member of Parliament for Mion Constituency in the Northern Region, Abdul-Aziz Mohammed has rejected government’s claims that it has no control over increasing fuel prices, saying that position “is unforgivable”. The National Democratic Congress (NDC) MP said: “today, we are being told that government can do very little about the price of fuel in the country and that the ...

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Airtel, Tigo merge; NCA gives green light

airtel,tigo merger

The National Communications Authority (NCA) has granted conditional approval for a merger between the local operations of Millicom’s Tigo and Bharti Airtel, a notice to employees of the subsidiaries said. The two networks agreed in March to combine their operations based on equal ownership and governance rights. It is the first such joint venture proposed in Ghana’s highly competitive telecom ...

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2018 budget to dwell on improving agric sector

2018 Budget

Government has stated the commencement of a new plan in the 2018 budget to turnaround the fortunes of Ghana’s agricultural sector. To be known as the ‘marshal plan for agriculture,’ the policy seeks to tackle all systemic challenges that have confronted Ghana’s Agric sector hence inhibiting its contribution to the economy. The Vice President, Dr Mahamudu Bawumia disclosed this when ...

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Gov’t to give industry sector $2bn

Industry

The Minister for Trade and Industry Alan Kojo Kyerematen has reiterated government’s commitment to support the manufacturing subsector with a sum of 2 billion dollars. This, the minister says is to help in expanding their businesses. President Nana Akufo-Addo has set up a 100 million dollar package to fund the National Entrepreneurship and Innovation Plan (NEIP) to support young entrepreneurs ...

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Gov’t reviews policy on tax exemptions

Tax

Government has decided to discontinue the requirement for exemption holders to provisionally pay the import duty and taxes upfront and apply for a refund later. In March this year during the presentation of the national budget, government announced the revocation of import duty and some taxes at the ports deemed nuisance. Importers were directed to pay upfront but made to ...

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Textile industry needs attention to boost local manufacturing

textile

The Finance and Administrative Manager of Akosombo Textiles Limited (ATL), Justice Boateng, has come out to say that the annual consumption of textiles in the country is about 130 million yards, yet the three largest local manufacturers-ATL, GTP and Printex only produces 30 million yards; explaining why the remaining 100 million-yard deficit is being filled by cheap, counterfeit, pirated and ...

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