BUSINESS

RAND MERCHANT Bank (RMB), the corporate and investment banking arm of First National Bank, has projected a combination of factors to fuel Ghana’s economic growth to pre-COVID-19 levels. These include an exceptional services sector growth, a faster than expected rate of vaccinations, and higher than expected oil prices. Explaining that this is on the back of a 3.3% growth year-on-year ...

The Vice-President, Dr Mahamudu Bawumia, has hailed the decision by the Bank of Ghana to implement a Gold Purchase Programme designed to purchase locally-produced gold, describing it as a master stroke in the quest for stronger macroeconomic management and in providing a bulwark for the Cedi. Addressing participants at the Ghana Gold Expo 2021 (Ghana Mining Week ’21), a mining ...

The Minister of Tourism, Arts and Culture, Dr. Ibrahim Mohammed Awal, said beginning next week government would disburse GH¢55million grant to players in the tourism industry to support their businesses. According to the minister, the sector lost about 75 per cent of its resources and about eight million Ghana cedis due to the COVID-19 pandemic, last year, and the grant ...

LEADERSHIP OF the Ghana Co-operative Credit Unions Association (CUA) wants President Akufo-Addo to intervene and help recoup their lock-up funds as a result of the banking sector cleanup. CUA says its members have well over GH¢180 million locked up in 31 financial institutions whose activities and operations were affected by the recent financial sector cleanup exercise by the Bank of ...

THE NATIONAL Insurance Commission (NIC) has carried out a nationwide series of training of trainers (ToT) workshops for personnel of the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service. The workshop is part of a campaign to clamp down on vehicles with fake and invalid insurance policy stickers plying roads with the aim of reducing the high ...

An estimated 335 million businesses across Africa may not be able to take advantage of the opportunities offered by the African Continental Free Trade Area agreement AfCFTA, Secretary-General Wamkele Mene has indicated. Speaking at a public lecture organised by the University of Dar Es Salaam on Monday, 28 June 2021 under the theme: ‘The AfCFTA and the new age of ...

President Nana Addo Dankwa Akufo-Addo on Tuesday, 29 June 2021, opened the Toyota Tsusho Vehicle Assembly Plant, which is assembling some models of Toyota and Suzuki vehicles in the country. Describing the occasion as a very happy one for him, the Ghanaian people, and for the government’s industrial transformation agenda, President Akufo-Addo stated that Toyota Tsusho’s presence in Ghana has ...

Renowned Ghanaian economist and businessman Dr. Kofi Amoah has clarified his claims of owning 85 houses in Los Angeles, United States. Recall in a recent interview with television goddess and renowned talk show host Deloris Frimpong Manso popularly known as Delay, Dr. Kofi Amoah caused some stir on the internet during the course of the interview when he claimed he ...

An Economist with the University of Ghana Business School (UGBS) Dr Lord Mensah says the downgrade of Ghana’s economic outlook from stable to negative by International rating firm, Fitch, is not surprising. According to the latest Fitch report, the negative rating reflects the significant deterioration in public finances as a result of the Covid-19 pandemic and the delays by the ...

The World Bank Migration and Development Report for 2021 has reported an increase of 5 per cent to $3.6 billion in remittance flows to Ghana despite the lockdowns around the world in the heat of the COVID-19 pandemic. Host countries for Ghanaian migrants include the USA, UK, Côte d’Ivoire, Italy, Germany, and Canada. The resilience of Ghanaian migrants has been ...