The Ghana National Petroleum Corporation (GNPC) is requesting parliamentary approval for a loan of $1.65 billion to purchase two stakes in Ghana’s offshore fields.
This is contained in a memorandum submitted to Parliament by the Ministe…
The African Centre for Human Rights and Sustainable Development (AfCHuRSD), is providing over 500 women across Jirapa Municipality and Nadowli-Kaleo District of the Upper West Region with economic empowerment skills that can support them a…
A total of $22,000 has been disbursed to five businesses as seed capital to support their business ideas under the Design and Technology Institute (DTI) incubation hub project.
The five businesses participated in a Community Innovation …
Members of the Bread Bakers Association in the Ashanti Region have announced an increment in the price of bread.
A loaf of bread sold at GHS5 will now sell at GHS6.
The decision according to the association is due to the rising cost …
Fiaseman Rural Bank Limited has held its 32nd annual general meeting for shareholders at Bogoso in the Western Region.
The shareholders during the meeting discussed the 2020 financial report, expectations for subsequent years and plan…
MACROECONOMIC INDICATORS
Q1, 2021 GDP Growth 3.1%
Average GDP Growth for 2021 3.1%
2021 Projected GDP Growth 5.0%
BoG Policy Rate 13.50%
Weekly Interbank Interest Rate 12.63%
Inflation for June, 2021 7.8%
End Period Inflation Targe…
THOUGHT OF THE WEEK
UNDERSTANDING ASSET CLASSES AND INVESTMENT RISK (PART 2)
? Fixed Term Deposit: Fixed term deposits are issued by commercial banks for a defined tenor and interest rate. Subscribers are only able to redeem fixed term…
Danfoss has officially finalized its US$3.3 billion (approximately €3 billion) acquisition of Eaton’s hydraulics business following confirmation of all necessary regulatory approvals and closing conditions. The move will see the Danfoss Gr…
South Africa was recently rocked by the worst violence, riots, and chaos that has devastated the business community. An estimated 40 000 businesses were affected, costing the country about R50 billion in lost output and endangering around …
The Deputy Managing Director (Operations) of GCB Bank Ltd, Mr Emmanuel Odartey Lamptey, has reiterated that discipline and integrity are the cardinal principles for personal growth and development.
He said personal achievement and becom…
The Ghana Export Promotion Authority (GEPA), has organised a special art exhibition to showcase products from local art dealers whose businesses have been adversely affected by the COVID-19 pandemic.
The event marks the second edition s…
GHACEM Cement Foundation has since its inception in 2002 dished out a total of 600,000 bags of cement to deprived communities across the country, valued at a cost of GHS27 million.
The Foundation is Ghacem’s corporate social responsibil…
The Veterinary Services Department has put 12 regions on red alert over a possible outbreak of bird flu.
The service says its officers in the five regions of the North, the three Bono regions, the Western, Western North, Eastern, and Ot…
The Minerals Commission of Ghana has accused the new owners of the Prestea-Bogoso Mine Limited (PBL) in the Western Region, Future Global Resources Limited (FGR), of lacking the financial capacity to invest in and turn around the fortunes …
The Chairman of Parliament’s Finance Committee, Kwaku Kwarteng has justified the government’s strategy of re-aligning funds in the 2021 budget to certain priority areas announced in the mid-year budget review statement.
Ken Ofori-Atta, …
The Ghana Union of Traders Association (GUTA) has commended the Speaker of Parliament, Alban Bagbin for addressing concerns they raised over a purported review of the GIPC Act 2013, Act 865.
The Speaker of Parliament is reported to have…
The Deputy Minister for Trade and Industry, Herbert Krapa, has embarked on his first working visit to assess the work of exporting firms across the country.
The visit is intended to strengthen the relationship between the government of …
Commissioner of Insurance, Dr. Justice Ofori has encouraged mobile money agents to consider getting insurance following the growing incidence of attacks in their line of work.
The Mobile Money Agents Association of Ghana has in recent t…
The management of Bulk Oil Storage and Transportation has stated that their Asset utilization has risen from 15 per cent to 85 per cent.
As a result, they said more of their fuel was transported by barges and pipelines than road transpo…
The Modernizing Agriculture in Ghana (MAG) Programme is assisting farmers in some selected areas in the Ashanti Region to acquire improved varieties of Taro (kooko) planting materials.
The four main new varieties being distributed to th…
The Ghana Shippers Authority (GSA) has called for strict enforcement of the National Insurance Act, (Act 724) at the various ports in the country to ensure that the local insurance companies benefit from the maritime industry.
The Ins…
Bull Market: A bull market is the condition of a financial market in which prices are rising or are expected to rise. The term "bull market" is most often used to refer to the stock market and a bull market tend to last for months or even…
* Nanostructured biomaterial for wound dressings and dermatology to be integrated into Health Care business
* Evonik Venture Capital’s early investment in 2015 pays off
* Evonik aims to more than double the share of system…
Weekly Highlights
• Ghana’s international reserves increased to US$11.02 billion in 2nd quarter of 2021.
• The GSE extended its year-to-date gains to investors.
• The Ghana cedi lost grounds to all the three major trading peers
• I…
Egbert Faibille, CEO of the Petroleum Commission of Ghana, has confirmed his attendance and participation at African Energy Week (AEW) 2021, taking place in Cape Town on the 9th-12th of November. Confirmed to deliver a keynote address at t…
Fidelity Bank Ghana in partnership with MDF West Africa has initiated a trade road show focused on training Micro, Small and Medium Enterprises (MSMEs). The various subject matters covered included international trade payment methods and t…
Profits at banking giant HSBC more than doubled in the first half of the year as it benefited from an economic rebound in Britain and Hong Kong.
Europe's biggest bank by assets saw pre-tax profit for the period rise to $10.8bn (£7.8bn),…
Music streaming platform, Audiomack has made its direct monetisation program, the Audiomack Monetisation Programme (AMP), available to artists in Ghana and across the world to earn money for the use of their creatives.
The initiative is…
The management of the Future Gold Resources (FGR), the operator of the Bogoso Prestea Mine, has appealed for calm following violent attacks by a group of people which led to the destruction of properties at the mine.
The management, in …
The Chief Executive Officer of the Food and Drugs Authority (FDA), Delese Mimi Darko, has cautioned oil palm producers in Ghana to desist from the use of Sudan IV in oil palm production.
She made the call at the launch of the Artisanal …
The Water Resources Commission (WRC) has cautioned individuals and drilling companies against constructing boreholes, wells and fish ponds without obtaining the requisite licence.
According to the commission, failure to obtain a water d…
As countries in West and Central Africa face a rising demand for power, fuelled by growing populations and industry, there is an opportunity to introduce an improved energy mix to aid them on their journeys to reduce carbon emissions. Acco…
Chief Executive Officer (CEO) of Vodafone Ghana, Patricia Obo-Nai has won Africa’s Most Respected CEO in the Telecommunications category at the Africa Most Respected CEO Awards, held in Dubai, United Arab Emirates (UAE).
The awards cel…
The Director-General of the State Interests and Governance Authority (SIGA), Stephen Asamoah-Boateng says a lot has been achieved since the institution mandated to see to the restructuring of State-Owned Enterprises and other state entitie…
Amazon has predicted slower sales growth in the third quarter as a boost from the Covid pandemic subsides.
Customers turned to Amazon and other online platforms during the Covid crisis, leading to record profits for the US giant.
But…
The leadership of YASTA Fish Farmers Association in the Tono North Municipality, Ahafo Region, have expressed worry that the emergence of Newmont Ghana Gold Limited (NGGL) in that area is a great threat to their sustainable socio-economic …
The Governor of the Bank of Ghana, Dr. Ernest Addison, has been conferred with the Distinguished Alumni Award by the Department of Economics of the University of Ghana.
The award is in recognition of his outstanding professional career …
The nation's poultry industry is now faced with the challenge of low productivity because of the rising cost of particularly maize and other inputs, Mr. Michael Asare Yeboah, a poultry farmer has stated.
As a result, he said the product…
Dr. Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA), and the management team have paid a working visit to the Association of Oil Marketing Companies (AOMC).
Their visit was to formally engage the AOMC B…
The Chief Executive Officer (CEO) of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has reiterated the government’s commitment to the implementation of the Cylinder Recirculation Model (CRM).
Dr. Abdul-Hamid gave the a…
The Ghana Revenue Authority (GRA) has signed a Memorandum of Understanding with the Gaming Commission to improve revenue collection.
Reverend Ammishaddai Owusu-Amoah, the Commissioner General, GRA signed for the Authority while Mr Peter…
The Licensed Cocoa Buyers Association of Ghana (LICOBAG), has called on all cocoa farmers who have not received their payments for the 2021 Main Crop Season to consult their district offices for intervention.
They are to reach out to th…
Dr John A. Kumah, a Deputy Minister of Finance has assured businesses that government will upscale the nation's cyber security efforts to create an enabling cyber space for businesses to thrive.
Speaking at the launch of a web and mobil…
FBNBank Ghana has released an internationally accepted and multiple-use visa prepaid card into the market.
This is the latest of its offerings to customers and clients of the bank aimed at delivering convenience, security and privacy.
…
The COVID-19 National Trust Fund that was set up under Act 1013 to receive and manage contributions and donations from well-meaning individuals, groups and corporate bodies has so far received a total of GH?57.15 million in cash donations…
The Vice President, Dr. Mahamudu Bawumia says African economies need digital currencies backed by central banks in order to give credibility to transactions.
Addressing participants at the opening of the International Trade and Finance …
Finance Minister Ken Ofori-Atta on Thursday, July 29, presented the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2021 Financial Year to Parliament.
open this link : https:/…
Dr Cassiel Ato Forson, Ranking Member on the Finance Committee has described the Mid-Year Budget Review presented by Finance Minister, Ken Ofori-Atta as hopeless with nothing in it for Ghanaians.
According to him, the Ghanaian economy i…
Facebook has warned that it expects revenue growth to slow down "significantly" in the second half of 2021.
The tech giant saw revenue rise to $29bn (£21bn) in the three months to 30 June, up from $18.69bn last year.
But it said that…
The US central bank has said that the economy is making progress due to widespread vaccinations.
The Federal Reserve kept interest rates on hold near zero, saying that inflation largely reflected factors that would pass in time.
Whil…
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