The management of Ghana International Trade and Finance conference (GITFIC) has applauded the Bank of Ghana (BoG) for it's plans to fade out one and two cedi notes in the system.
They have also called on the public to handle the coins o…
The Ghana Stock Exchange (GSE) says 2021 is proving to be one of the best performing years within the last five years.
This is attributed to the continuous education about the market, the performance of listed companies, and the coming …
Bank of Ghana is seeking to significantly reduce Automatic Teller Machine (ATM) and cyber-related fraud with the setting up of a Financial Industry Security Operating Centre, to ensure a safer cyberspace for the banking sector in Ghana.
…
At an event held at Pomona-Ghana, Samsung unveiled it’s 2021 Premium product line-up, designed to bring new experiences to homes in Ghana. The groundbreaking products are inspired by a time when our homes have become multifunctional. Livin…
For several years, the sub-Saharan Africa (SSA) reinsurance market, though limited in scale by global standards, has provided reinsurers with an opportunity for diversification and profitable growth. However, according to an AM Best report…
Fossil fuels may be the biggest concern for climate activist in western countries, but they’re also the most efficient source of energy humanity has developed. As such, the push to emphasize only renewable energy is a source of concern for…
As governments across West Africa prioritise their textile industries to drive post-pandemic recovery, a number of private sector initiatives are supporting the segment’s growth.
In a region where just 2% of cotton produced is processed…
Dr Owusu Afriyie Akoto, the Minister of Food and Agriculture, says a routine tour to food production areas shows that the country will have plentiful food next year.
He, therefore, dispelled rumours that the country would face food shor…
Ecobank Ghana and People's Pension Trust, have signed a digital-based partnership deal that allows both formal and informal sector workers contribute towards a secured retirement plan through their mobile phones.
The product, which is a…
The Minister of State in charge of Works and Housing, Freda Prempeh has assured Ghanaians that the Saglemi Housing Project will soon be put to good use.
She explained that the government will not allow the housing project to rot while s…
Mr Pieter Smidt Van Gelder, the Deputy Head of Mission of the European Union (EU) in Ghana, has urged the country to ensure effective integration of the youth in horticulture.
That, he said, would not only promote growth of the sector b…
SMT Ghana has pledged to support its customers and stakeholders in the construction industry with the right mining, construction equipment and services to promote the industry.
As one of the leading dealers of construction, transport an…
Mr. Seth Twum Akwaboah, the Chief Executive Officer of the Association of Ghana Industry (AGI), has called on members to develop proper governance structures to enable them benefit from the various interventions the Association was offerin…
The Ghana Revenue Authority (GRA) has officially commenced work on its ultra-modern two-story building Information Technology Training Centre at Tema being financed by KFW German Bank for Development.
The construction which had already…
Gold Fields Ghana Limited through its foundation has promised its continuous investment and support for the socio-economic development of communities in which they operate.
The investment includes; infrastructure development, agricultur…
The Senior Leadership Team (SLT) of Tullow Oil Plc, led by the Chief Executive Officer, Rahul Dhir are paying a working visit to Ghana in the week of 27th September 2021.
A statement from the company said the visiting Executives would h…
The Ghana International Trade and Finance Conference (GITFiC) has raised concerns over the implementation of the European Union-Ghana Interim Economic Partnership Agreement (IEPA).
It said as the African Continental Free Trade Agreeme…
For the second year in a row, MTN Group has been named the most valuable African brand in the Brand Finance Africa 150 rankings, which assigned the group a brand value of US$2.7 billion – US$1.0 billion above the next most valuable brand.
…
With over 36 billion barrels of oil and 200 trillion cubic feet of natural gas, as well as the active participation of global oil majors including TotalEnergies, Shell, Chevron, and ExxonMobil, Nigeria is intensifying efforts to exploit it…
The Boeing Company [NYSE:BA] today announced the appointment of Kuljit Ghata-Aura as the new president of Boeing Middle East, Turkey and Africa (META), excluding the Kingdom of Saudi Arabia, effective Sept. 30.
Ghata-Aura, who is retur…
Mr Elliot Edem Agbenorwu, Municipal Chief Executive (MCE) of Ketu South has called on chiefs, assembly members, and opinion leaders in the catchment areas of Seven Seas Salt Limited to adopt the Company as their businesses to derive the ne…
Accra-based Happy 98.9 FM is set to hold a stakeholder engagement on the housing sector in Ghana.
The discussion which will be spearheaded by the station’s authoritative afternoon political show, ‘Epa Hoa Daben’ will bring together stak…
The country is set to inject about US$300 million from its share of the specially created free funds from the International Monetary Fund (IMF) into the 2022 budget.
The amount is a third of the US$1 billion interest-free and condition-…
A total of 52 individuals and companies have been shortlisted for the 4th edition of the Ghana Shippers Awards.
The ceremony which would be held on Friday, October 1, 2021, at the Kempiski Gold Coast Hotel in Accra would recognize achie…
A centralised cyber security system has been set up by the Bank of Ghana (BoG) as part of its enhanced effort to deal with electronic fraud and cyber risks in the banking sector.
Known as the Financial Industry Command Security Operatio…
Implemented on January 1, 2021, the African Continental Free Trade Agreement (AfCFTA) is considered the foundation for enhanced cross-continental trade in Africa. Signed by 54 countries, the agreement comprises the reduction of tariff and …
The Mohamed Bin Zayed International Robotics Challenge (MBZIRC) will be held in the UAE capital, Abu Dhabi, in June 2023, where tech innovators will participate to seek marine safety and security solutions to take home more than US$3 milli…
The total value of Africa’s top 150 most valuable brands has declined by US$5.5 billion (12%) from US$45.5 billion in 2020 to US$40.0 billion in 2021, according to the latest Brand Finance Africa 150 2021 report [2].
The COVID-19 pandem…
The United Nations has released a first version of a Handbook on Provisions and Options for Trade in Times of Crisis and Pandemic’. Work on the handbook was initiated by the United Nations Economic and Social Commission for Asia and the Pa…
The Global Market Share Omdia Study 2021 has been released. For the many millions of Samsung owners it will come as no surprise that the brand was certified as the Number One Global Refrigerator Brand in the World. The Omdia report analyse…
Mr Johnny Mantey, Vice President of the Ghana Institute of Freight Forwarders, has called on shipping lines operating in Ghana to adhere to the tenets of Legislative Instrument 2190 in its charges and practices.
The Ghana Shippers Autho…
A new gold refinery for the state is set to be ready by November this year, the Deputy Lands and Natural Resources Minister, George Mireku Duker has announced.
The refinery which is 85 per cent complete, has become possible due to a bi…
The Bulk Oil Storage and Transportation Company Limited (BOST) says its current management has saved Ghana from paying $26 million to eight Bulk Distribution Companies.
The eight companies had asked BOST to pay $37 million for 22.7 mill…
Multinational Telecommunications Network (MTN) has pledged its commitment to partner with the government to achieve the country's digitization Agenda.
Mr Selorm Adadevor Chief Executive Officer of MTN who stated this said the strategy w…
Against the backdrop of consumption statistics which indicate that Ghana’s per capita consumption of its own cocoa products is 0.52kg against 8kg in countries that import cocoa beans from Ghana, the African Cocoa and Chocolates Expo was in…
African Export-Import Bank (Afreximbank) and AfCFTA Secretariat on Tuesday announced the operational roll-out of the Pan-African Payment and Settlement System (PAPSS).
The revolutionary Financial Market Infrastructure is to enable inst…
The Chief Executive of Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the Bank of Ghana, Mr Archie Hesse has urged the public to use electronic payment channels to send and receive money.
He said this was crucia…
MACROECONOMIC INDICATORS
Q2, 2021 GDP Growth 3.9%
Average GDP Growth for 2021 3.5%
2021 Projected GDP Growth 5.0%
BoG Policy Rate 13.50%
Weekly Interbank Interest Rate 12.61%
Inflation for August, 2021 9.7%
End Period Inflation Tar…
Weekly Highlights
• Monetary Policy Rate maintained at 13.5 percent.
• Yields on GoG Treasury securities recorded mixed outturn.
• The GSE Composite Index took a nosedive as MTNGH shed value.
• The Ghana cedi depreciated marginall…
THOUGHT OF THE WEEK
Measuring Portfolio Investment Returns
The main reason for investing money is to receive some returns on amount invested funds. Measuring investment returns is not always a straight forward exercise as there are diffe…
Ninety farmers in the New Juaben South Municipality in the Eastern Region have benefitted from 15,000 free oil palm seedlings under the government’s Planting for Export and Rural Development (PERD) programme.
The distribution of the see…
The Vice-President, Dr. Mahamudu Bawumia, has asked the Institute of Chartered Accountants, Ghana (ICAG) to lead the charge in getting other professional bodies to honour their tax obligations.
“The people are clamouring for better road…
As part of the Youth in Export Programme (YiEP), the Ghana Export Promotion Authority (GEPA) has presented farm inputs to 20 trainees in Accra.
The 20 trainees were selected across the Eastern, Central and Volta regions and attached to …
The Bank of Ghana (BoG) has said that it is working to phase out the one Ghana cedi and the two Ghana cedi notes from circulation.
The Governor of BoG, Dr Ernest Addison, said on Monday (September 27) that the notes will ultimately be r…
Mr Ekow Sampson, Deputy Chief Executive Officer, in-charge of Operations, Ghana Tourism Authority (GTA), has said the COVID-19 pandemic has negatively impacted on tourism growth, job creation, and livelihood of communities that depended on…
The Monetary Policy Committee (MPC) of the Bank of Ghana has kept the policy rate unchanged at 13.5 per cent, saying the risk to inflation and growth were broadly balanced.
“Given these considerations, and the fairly balanced risks to i…
Security analyst, Prof. Kwasi Aning, believes the time has come for financial institutions to embark on rigorous scrutiny of their staff following the increasing cases of bank-related robberies in the country.
He says routine checks mus…
Latest figures released by the Bank of Ghana indicate that in two months, the country’s public debt stock has increased by GH¢3.5 billion.
By this, Ghana’s total public debt stock increased from about GH¢332 billion in May 2021 to about…
Illegal small-scale miners encroaching on the AngloGold Ashanti's (AGA) Obuasi Mine concession at Kokoteasua in the Ashanti Region, have been warned to stay off the enclave in their own interest.
They have no right to conduct any mining…
The Bank of Ghana (BoG) will likely stay the course of monetary policy for the last quarter of the year and assure the public that the bank will remain vigilant to inflation, which took its resurgence to a new level in August.
At 9.7 pe…
info@businessghana.com
