President Akufo Addo Projected Increase in Crude Production
President Nana Akufo Addo has projected an increase in Ghana’s crude oil production from two hundred thousand barrels per day to about five hundred thousand barrels in the medium term with the potential of producing up to one hundred million barrels in the long term. He noted that this will become possible as some international […]
Increase District Common Fund Allocation for PWDs- Expert
Chief Executive of Ghana Union Assurance, who is an advocate of the welfare of persons with disability, Aretha Duku has lauded government for the increase in the District allocation of the common fund for PWD’s from two percent to three percent. She said the fund if use, will induce business interest in PWD’s which will […]
World Bank Calls on Government Officials to Improve on Transparency in the Extractive Sector
The World Bank’s Senior Financial Sector Specialist, Cari Votava has urged government officials and industry professionals to improve transparency in the country’s extractive and natural resource sectors to identify and document the beneficial ownership of those operating in the sector. This, she said, will contribute immensely to the economy of the country. Speaking at her […]
Ghana's Gold becomes highest export earner, followed by Oil
Ghana’s total exports reached 12.54 billion dollars as at October this year. Gold generated the highest revenue of 4.7 billion dollars, followed by oil which ranked 3.83 billion dollars in revenue with cocoa placing third with its export revenue reaching 1.67 billion dollars. Meanwhile, total debt stock has reached 170.8 billion cedis as at September 2018. A […]
GRA Bans Storage of Selected Imports in Warehouses
The Ghana Revenue Authority (GRA) has banned the storage of selected imports in Warehouses as it begins the implementation of a new warehousing regime. The items include canned tomatoes, alcohol, lead acid batteries, cooking oil, canned drinks, canned fish, cement, Lime, paints and chalk. This means importers of the banned products can no longer keep […]
Nigeria aims to sell ten state-owned companies for 2019 budget
Nigeria’s Privatization Agency has indicated, that the country will offer ten state-owned companies for sale to selected investors and the public in the fourth quarter of this year to raise two hundred and eighty-nine billion naira ($797m) toward funding the 2019 budget. Preparations are in the final stages to begin the sale of the companies […]
Tullow Ghana Lays off 10% of its Workforce
Tullow Ghana has laid off ten percent of its workforce this year due to restructuring. Speaking to GBC24 Business News when the company took its turn at the Facts Behind the Figures Forum in Accra, the Managing Director of Tullow Ghana, Kweku Awotwi said the downsizing focused largely on the cost factor. He explained that […]
Trump sharpens attack on Federal Reserve
US President Donald Trump has sharpened his attacks on the Federal Reserve, saying it posed the biggest risk to the US economy. He also targeted Fed chairman Jerome Powell, telling the Wall Street Journal he seemed “happy” to be raising interest rates. Mr. Trump has repeatedly criticized the US central bank for raising interest rates. […]
Japanese Nano Technology Company to establish plant in Ghana
The Ghana Standard Authority (GSA), is collaborating with Japanese Company, M-TechX International to initiate standardisation and commercialisation of Nano Technology across all industries in Ghana and Africa. The Technology involves the use of fibre for oil and gas and medical cleaning. Speaking to Business News at the launch of its warehouse in Accra, the Business […]
Court strikes out name of one defendant in defunct uniBank case
An Accra High Court hearing the case between the receiver of defunct UniBank, Nii Amanor Dodoo and shareholders of the bank has struck out the name of one of the defendant, Clifford Duke Mettle. Mr. Mettle was an executive director of uniBank until the Bank of Ghana revoked its license this year. The action, according […]
'Controversial' Cargo Tracking Note Policy takes off
The Controversial Cargo Tracking Note, CTN, takes effect from Monday, October 15, 2018, despite a law suit by Freight forwarders. All shipments to Ghana, including Transit Cargo, Shippers, Exporters and Freight Forwarders at Ports of Loading around the world are required to obtain a validated CTN number. The Ghana Revenue Authority is however unwavering in […]
Ghana Standard Authority set to carry out on building use by Public
The Ghana Standards Authority (GSA) has called for a stress test to be carried out on all buildings and properties used by the public within the next twelve months to ensure safety which include all government offices, banks, private businesses, malls, markets, churches and mosques. The Director-General of the GSA, Professor Alex Dodoo, who made […]
Ghana Airports Company seeks approval to prepare account in dollars
The Ghana Airports Company Limited (GACL) says it is seeking approval from the Ghana Revenue Authority to allow it to prepare its accounts in dollars. Speaking to GBC Business news Wednesday in Accra, the Managing Director, John Attafuah said this will enhance the company’s operations following fluctuation of the local currency. He noted that,’’when loans […]
Sub-sahara Africa score 2.7% in Growth though slower than expected
Growth in the Sub-Saharan Africa region, is picking up despite the estimated marginal increase of 2.7 % as compared to 2.3 % in 2017. According to the World Bank Africa Pulse report, the improved but slow growth is partially a reflections of a less favourable external environment for the region a financial market pressures intensify […]
