BUSINESS

Vodafone takes huge lead in Mobile Money Interoperability usage

Within a week after the launch of Mobile Money Interoperability, the platform recorded over 22,919 successful transfers, and more than half of that, 13,504 was on the Vodafone Cash platform. The total for the first six days stood at a little over GHC1.8 million and Vodafone alone recorded GHC1.17 million representing some 65% of the total. The daily interoperability transactions ...

Read More »

COCOBOD to raise $1.3bn for cocoa purchases next crop season

The Ghana Cocoa Board (COCOBOD) has announced that it would be raising some $1.3 billion for cocoa purchases for the next crop season 2018/2019. According to a statement issued by the Board, it has also settled on 15 international banks that would help it raise the funds. They include ABN AMRO Bank, Bank of China, Industrial and Commercial Bank of China, ...

Read More »

Ghana’s Debt Hits GhC145bn

Ghana’s public debt has hit GhC145 billion as of February this year, the Central Bank has announced. The development means that the government spent about GhC3.5 billion from September to December last year, according to the latest Summary of Economic Data released by the Central Bank after a review of development in the economy by the Monetary Committee of the ...

Read More »

Barclays Group becomes ABSA in July

Shareholders of Barclays Africa Group Ltd have given approval for the entity’s name to be changed to Absa Group Limited in July, setting in motion the start of one of the largest rebrand projects in Africa at this time. “The vote in support of our name change in July marks another milestone in our separation from Barclays PLC to become ...

Read More »

Mobile Interoperability Is An Important Milestone For Ghana – BoG

The launch of Ghana’s first Mobile Money Interoperability Payment System is an “important milestone towards an integrated and interoperable electronic payments environment” and will have a major impact in efforts to ensure greater financial inclusion, the Governor of the Bank of Ghana has stated. Speaking at the launch of Payswitch Co Ltd, Ghana’s first private Third Party Processing Company, in ...

Read More »

Trade Ministry’s ‘UNIPASS’ agenda exposed

In a desperate attempt to kick out West Blue Consulting and GCNet, the Ministry of Trade has resorted to churning out lies to create public disaffection for the existing vendors operating single window at the ports. The Ministry of Trade which recently offered a 10-year sole sourced contract to Ghana Link and its overseas partners, CUPIA Korea Customs Service without ...

Read More »

Sibton would have milked $200m in 5 years – Franklin Cudjoe

Founding President of think thank Imani Africa, Franklyn Cudjoe, has raised issues with the contract signed between the Bank of Ghana and Sibton Switch to undertake the mobile money interoperability project. “How much was the company that won the bid hoping to squeeze out of mobile money? An average of $40 million a year for the first five years. Note ...

Read More »

PaySwitch is here to stay – Veep Dr. Bawumia

  The Vice President of the Republic of Ghana, Dr. Mahamudu Bawumia graced the launch of PaySwitch Company Limited. In HE. Dr. Bawumia’s key note address, he lauded the Ghanaian own Fintech Company, PaySwitch, for their initiatives and effort to also contribute to the objectives of government to enhance the ease of doing business in the country using technology.   ...

Read More »

Petroleum prices at the pump jump 3%

Experts predict fuel costs will rise three percent in May’s second pricing window, according to the Institute of Energy Security. Reports of the increase come after three consecutive pricing windows, where rates remained steady. The slight surge could stem from a 1.33 percent depreciation of the Ghana cedi against the U.S. dollar, the IES report shows. Recent U.S. sanctions against ...

Read More »