BUSINESS

The Coalition of Aggrieved Fund Management Customers have petitioned the government to give its members some of the GHS1.2bn COVID Alleviation Programme money to survive on. The members of the coalition were all customers of some 53 fund management companies that were collapsed by the Securities and Exchange Commission last year due to their insolvency. Ghana’s Parliament recently approved a ...

Even as businesses and households in Ghana celebrate last week’s announcement by the Ghana Association of Bankers of a 200 basis points (two percent) reduction in the interest rates applicable on both outstanding and new loans booked by banks in the country, the banks themselves are turning off the lending taps. Only their most highly valued, safest, customers can still ...

Up to two million jobs may be lost in the country amid the coronavirus pandemic, Executive Director for the National Board for Small Scale Industries (NBSSI) Kosi Antwiwaa Yankey has projected. According to her, analyzing both the formal and informal sector, a lot of jobs will be lost, but the number will be drastically controlled with the GHC90 million facility ...

IMANI Policy Brief: Don’t let the short-term crisis measures reverse regulatory gains made in supporting prudent fiscal behaviour The Ghanaian government through the Minister of Finance and Economic Planning on 30 March 2020 outlined a strategy – fiscal measures to mitigate the impact of coronavirus pandemic including the Coronavirus Alleviation Programme (CAP), to manage the impact of the crisis on ...

Karpowership Ghana Company Limited has made a contribution of ¢300,000 to the Covid-19 National Trust Fund. This is in supporting efforts of government to combat the spread of the coronavirus in the country. President Akufo–Addo over the weekend announced the setting up of the crucial trust fund that would be used to combat the outbreak of Covid-19 which has so ...

Government on March 30 announced a partial lockdown of the Greater Accra and Kumasi metropolitan areas, which have reported the most cases of COVID-19 infections in the country. With the lockdown, the movement of people is restricted and nonessential businesses are all expected to shut down operations for a minimum period of 14 days, subject to government review. With the ...

The Chamber of Petroleum Consumers (COPEC) has threatened legal action against the National Petroleum Authority (NPA) over the introduction of a new levy on Liquefied Petroleum Gas (LPG). The NPA in a circular to industry players directed them to start charging 13.5 pesewas on each kilogram of LPG from April 1. The NPA is also asking Oil marketing companies to ...

Finance Minister, Ken Ofori-Atta has revealed that government intends to lower the cap on the Ghana Stabilization Fund (GSF) from the current US$300 million to US$100 million in accordance with Section 23(3) of the Petroleum Revenue Management Act (PRMA). According to him, the measure would enable the excess amount in the GSF account over the US$100 million cap to be ...

A Real estate developer has pledged one of his premier properties on Oxford Street to be used as a quarantine location, isolation centre or a temporary hospital. Nana Kwame Bediako also known as ‘Freedom Jacob Caesar’ said his 5-star luxury serviced apartment hotel is up on offer as a safe place for nurses, doctors and other medical personnel should the ...

GCB Bank Limited has reacted to allegations that a client died in their Banking hall due to the negligence of some staff at the Boundary Road Branch. There was a post by one Raymond Andre Paadoshkash alleging that the negligence of staff at the Boundary Road Branch led to the untimely death of their mother. But responding to the allegations, ...