BUSINESS

The Finance Minister Ken Ofori-Atta has disclosed that the country’s debt has shot up GHC170.8 billion. Reading the 2019 Budget Statement and Economic Policy of government, Ofori-Atta said “Mr. Speaker, the nominal public debt stock as of the end of September 2018 was GHS170.8 billion, comprising external and domestic debt of GHS86.6 billion and GHS84.1 billion, respectively.” The Finance Minister ...

Finance Minister, Ken Ofori Atta, is hopeful the railway sector will begin to show signs of recovery after several years of setback. According to him, development of railway infrastructure across the country is nearing completion for the sector to be relaunched. “We are confident, 2019 will witness the relaunch of the railway system in Ghana after some 50 years of ...

This month, AirtelTigo, the country’s second-largest telecommunications operator is marking its historic one-year anniversary with a long-term strategy to pursue growth, innovation and transforming lives in communities. In a message to employees, the Chief Executive Officer for AirtelTigo, Mrs Mitwa Ng’ambi, commended the staff for their professionalism, expertise and determination during the integration period. “I commend you all for your ...

Industrialists, investors and Ghanaians alike await in anticipation as Finance Minister Ken Ofori Atta reads the budget statement and financial policies for the third year in office of the Akufo-Addo administration. Key among what Ghanaians expect to hear are tariff reductions in electricity and water as well as price cuts in fuel considering assurances earlier averred by President Akufo-Addo to ...

The MP for Assin Central, Kennedy Agyapong has waded into the Menzgold brouhaha again, this time around, lashing it out on customers of the company who have decided to migrate their investments unto their online platform, Menzgold Global. Kennedy Agyapong who said this without fear on Adom TV’s ‘Badwan’ posited that the online platform introduced by Menzgold is another clever ...

In a matter of weeks, the Special Investigation Team (SIT) constituted to probe the seven collapsed banks will be in the news, as prosecutorial action is taken against those responsible for the financial mess. A source close to the team while disclosing this to DAILY GUIDE anonymously regretted that some Ghanaians are exerting what he said ‘undue pressure’ on the ...

Member of Parliament for Assin Central, Kennedy Ohene Agyapong wants assets of Menzgold owner Nana Appiah Mensah seized. He also wants properties of directors of some savings and loans companies in the country confiscated and shared amongst affected customers of embattled gold firm. “Whether Menzgold, Ideal finance or whatever, government must seize their assets and sell to defray the debts ...

Gold Coast Fund Management has begun payments to its Individual Structured Finance (SF) clients nationwide. The payment comes ahead of the planned schedule for the official installment payments due to begin on March 1, 2019 over a three-year period. Gold Coast Fund Management had earlier issued a statement informing its customers of a new directive from their regulators, the Securities ...

The Ghana Free Zones Authority is undertaking independent audit of all licensed duty-free shops and household plastic manufacturing companies found to have violated the Free Zone Act 1995 (ACT504) and its supporting regulations. The auditing exercise began last week. Meanwhile, the Ghana Revenue Authority (GRA) has said some of its officers colluded with a company within the Free Zones enclave ...

Angry customers of gold trading hub, Menzgold in the Ashanti Region have threatened to invoke curses of Menzgold management and workers as well seize and sell properties of signed artistes under Zylofon Music. They indicate that it is part of their money that has been used to acquire properties for these individuals including Shatta Wale, Stonebwoy, Becca and the rest ...