BUSINESS

The Tema Port Security Manager, Colonel Joseph Malik Punamane, has urged security agencies in other African countries to meet stowaways with more deterrent punishments, in order to stop the menace of stowaways on the continents. He however stated that, the Tema Port Security remains so robust, it cannot serve as a conduit for stowaways to use in illegal travel overseas. ...

Key players in Ghana’s export chain, have expressed optimism in some opportunities that Ghana can leverage on to develop its export trade with the world, especially Africa, considering the African Continental Free Trade Area. The Deputy Chief Executive, Human Resource and Administration of the Ghana Export Promotion Authority, Albert Kassim Diwura, has on Eye on Port indicated that his outfit ...

With exception of the National Investment Bank (NIB), all banks operating in the country have now met the GH¢400million capitalisation as the banks under government’s bail-out plan have been helped with the needed funds, Governor of the central bank, Dr. Ernest Addison, has confirmed. According to the Governor, four of the banks that were given government guarantee through the Ghana ...

Fidelity Bank has appointed Edward Opare-Donkor and Samuel Aidoo as Deputy Managing Directors in-charge of Operations and Support Functions, and Wholesale Banking respectively. Until their appointments, Edward Opare-Donkor was the Bank’s Chief Operating Officer while Samuel Aidoowas the Group Head of Wholesale Banking of Fidelity Bank. Mr Edward Opare-Donkor has a strong background and solid professional experience of over 15 ...

Former Chief Executive of the now defunct UT Bank, Prince Kofi Amoabeng, has revealed he turned down several invitations to seek the assistance of two ‘big men’ in the country in getting back his bank. According to him, people he knew suggested that he sought the intervention of former President John Kufuor and Asantehene Otumfuo Osei Tutu when the Bank ...

Economist, Prof. Eric Osei Assibey has observed that a drastic appreciation of the cedi – which is highly doubtful — won’t benefit the local economy. Prof. Assibey explained that, should the cedi appreciate from its current GH¢5.51 against its major trading partner, the dollar to GH¢1 to $1, it would be detrimental to the country’s export revenue. Speaking on JoyNews’ ...

FINANCIAL ENGINEER, Ato Benson has exposed what he considers to be an “empty” argument put forward by the vice president of policy think tank, IMANI Ghana, Kofi Bentil, on the controversial Power Distribution Services (PDS) power concession deal. Mr. Bentil had written a piece following announcement about the suspension of PDS by Akufo-Addo’s government that “PDS is a motley crew ...

COCOBOD is set to sign its annual cocoa loan syndication deal in Paris, France with some 24 French banks on Friday. This was after it secured Parliament’s approval to borrow up to $1.5 billion to aid cocoa purchases for the 2019/2020 crop season. Sources at COCOBOB say the board has already secured the extra $200 million from some of the ...

Transaction advisors in a concession agreement with energy company, Power Distribution Services (PDS) have been accused of shifting blame after controversy gutted the agreement. In the controversy, Power Distribution Services (PDS) have been found to lack the financial capacity to provide $12.5m in guarantees when they took over ECG management in March 2019. PDS has been suspended. But the agreement ...

There has been an upsurge of cement companies in Ghana, Kwaku Asomah- Cheremeh, Minister of Lands and Natural Resources, has revealed. This, he said, has resulted in high demand for limestone in the country to produce clinker to make production and supply of cement affordable to Ghanaians. Speaking at a press conference in Accra, Mr Asomah-Cheremeh said the Government through ...