That was the Deputy Executive Director of the Africa Centre for Energy Policy (ACEP) is calling on the President to as a matter of urgency assent to the Petroleum Exploration and Production ( E&P Law). Ben Boakye is worried that almost three weeks after the passage of the E&P Law the President has yet to … Read more
The Chief Executive Officer of BEIGE Capital, Mike Nyinaku, says the explosion of mobile money services pose no threat to the future of the banking sector in the country. “Mobile money service is a transaction enabler, it is not banking so the traditional importance of banking will not be replaced by the upsurge of the … Read more
Alhaji Dr. Mahamudu Bawumia, the 2016 vice presidential candidate of the New Patriotic Party, has announced that an Akufo-Addo government, God-willing, from 2017 will allocate US$275 million per year to tackle issues relating to infrastructural development and poverty alleviation in rural and deprived communities across the country. This amount, he explained, is to be contained … Read more
The Kyebi Water Treatment plant has been shut down because the water has been left untreatable. The plant which serves much of the Eastern Region was shut down early on Tuesday due to the effects of illegal mining also known as galamsey on the plant. The Public Relations Officer of the Ministry of Water Resources … Read more
The influx of foreign retailers in the country is not only putting Ghanaians out of business but also increasing rent charges astronomically especially in the central business district of Accra. These concerns came to light when Onua Business news spoke to some traders in Accra. These traders have shops in areas including Tudu, Okaishie Cowlane, … Read more
The Executive Council of the Chamber of Petroleum Consumers Ghana (COPEC) has raised questions about which institutions are benefitting from the 17.5 per cent Value Added Tax (VAT) imposed on petroleum products. The new Energy Sector Levy Act passed in 2015 imposed seven taxes on petroleum at the pump including VAT. However, with the exception … Read more
A new national carrier for Ghana is expected to be flying by October this year, the Transport Minister Fifi Kwetey has announced. Mr. Kwetey said his outfit has had extensive deliberation with key stakeholders to ensure reliable and efficient services. The start of the new airline begins the process for Ghana to regain its past … Read more
The Ghana Gas Company Limited has ruled out any significant impact of its ten day shutdown of the Atuabo gas processing plant, on the country’s power supply, for the period. The company is expected to shut down the facility from Wednesday, August 31, 2016; for routine maintenance. A statement on the exercise indicated that the … Read more
The Communications Manager of Ghana Gas Company Limited Alfred Ogbamey has assured that the ten-day closure of Ghana Gas at Atuabo will not have any adverse effect on power generation in the country. According to him, measures have been put in place to ensure that Ghanaians do not experience ‘Dumsor’. Ghana Gas Company yesterday announced … Read more
Orios Capital, an emerging patient capital firm established to co-invest into scalable and impact-based startups in Africa, has announced plans to raise more than one million dollars. The move is in line with the company’s vision to become the name behind a global business giant from Africa. It also forms part of its strategy to … Read more
The Producer Price Inflation for the fourth week of August (22-26) rose to 10.3 per cent year – on – year while investors responded by bidding down equities. Total volume traded was 1.3 million shares which were valued at GH?7.9 million. Fan Milk emerges as the most traded equity in value terms thereby retaining its … Read more
The Head of Communications of the Bank of Ghana (BOG), Mr. Bernard Otabil, has asked business and financial journalists not to create panic in the banking and financial markets through speculation. He indicated that the financial markets “are very responsive” and that any misinformation could trigger panic that could potentially throw the markets into jeopardy. … Read more
Founder of UT Holdings, Prince Kofi Amoabeng, has said there should not be too much sympathy for “greedy” victims of microfinance scams. According to Mr Amoabeng, the depositors are aware of the risks involved by saving with such microfinance companies, who invariably promise huge interests on deposits. In the past one year, several customers have … Read more
Government’s decision to re-open a five-year GHC400million domestic bond has bolstered expectations that the cedi will from this week see one of its strongest runs amid rising pressure on the local currency in recent times. This has prompted a flurry of speculations in the market with analysts predicting that the cedi will rally strongly against … Read more
Founder of UT Holdings, Prince Kofi Amoabeng, has advised the banking sector to be cautious in lending to importers of oil and gas describing the sector as risky. Banks are having to deal with non-performing loans partly due to the failure by importers including state-owned Volta River Authority (VRA) and Tema Oil Refinery (TOR) as … Read more
A senior lecturer at the Kwame Nkrumah University of Science and Technology (KNUST), Dr. Robert Aidoo has advised government to prioritize agriculture if the state wants the rate of unemployment to reduce drastically. The expert argue that if the same focus and attention given to issues relating to oil is applied to agriculture, the state … Read more
Customers of Safeway Tilapia Investment Company Limited whose monies have been locked up in the company may not be receiving their monies anytime soon as the company has halted its operations. A new management that took over the tilapia farming business of Safeway Investments has been forced to halt its work. The PRO of the … Read more
A new report released by the Bank of Ghana (BoG) on Annual Percentage Rates (APR) and Average Interest(AI) paid on deposits by banks has reveled that the average interest rate for a car loan in Ghana is now at 32.4 percent. The report also reveled that as at 31st May 2016 Stanchart bank offered the … Read more
The President of Groupe Nduom, Dr Papa Kwesi Nduom, was adjudged the 2015 Best Ghanaian Business Personality of the Year at the 4th Made in Ghana Product and Service Awards at the Banquet Hall of the State House in Accra. The ceremony, which was organised by the Entrepreneurs Foundation of Ghana, is aimed at celebrating … Read more
Ghana Gas Company Limited is to shut down the Atuabo gas processing plant for 10 days. The shut down to start from Wednesday, August 31 to help carry out some routine maintenance works on the facility in the Western Region. Communications Director of Company, Alfred Ogbamey tells JOYBUSINESS the shutdown is also part of an … Read more