BUSINESS

The Bank of Ghana (BoG) has directed all Forex Bureaus in the country to demand Identification Cards (IDs) before engaging in forex transaction. This is contained in the Central Bank’s new directives aimed at helping regulate the forex bureaux sector. The directive also requires forex bureaus to capture all transactions electronically and submit to the regulator within five working days ...

Reliable information reaching JoyBusiness indicate at the close of October 8, 2018 deadline for the National Communications Authority (NCA) 800MHz spectrum auction, only Voda Ghana and Quantum Oil had placed bids. There were three 2x5MHz spectrum slots at stake, and NCA’s asking price for each was $33.75million. But Vodafone Ghana is said to have placed a bid of $24million for ...

The Institute of Energy Security (IES) is projecting a two-to-four per cent reduction of fuel prices on the local market in November 2018. This is as a result of the 5.94 per cent fall in Brent crude average prices, fall in finished prices on the international market, and the Cedi recording respectable gains against the dollar within the window said ...

Ghana has been advised to adopt Israel’s Drip Irrigation System to help in an all-year round farming, especially in the cocoa sector. The system, which is also known as trickle irrigation, involves dripping water onto the soil at very low rates from small diameter plastic pipes fitted with outlets called emitters or drippers. Enock Agyemang, who is one of 51 ...

Information Minister designate, Kojo Oppong Nkrumah, has urged the Turkish government to open up their market to Ghanaian products. He said it was gratifying that over 150 Turkish companies were taking advantage of the favourable investment climate in the country to establish their businesses in Ghana. Oppong Nkrumah made the call at a reception in Accra to mark the 95th ...

As part of the first oil and gas licensing round, the Ministry of Energy has invited bids from Oil and Gas companies, for direct negotiations without a public tender in respect of two of the Blocks GH__WB_05 and GH_WB_06, offshore Ghana. Interested companies as per the requirement must have relevant experience in ultra-deepwater exploration and production, with emerging subsea technology. ...

Customers of Gold dealership firm Menzgold Company Limited have rejected the company’s new trading product. Menzgold, in a statement, said it will resume full operations on or before 5 November 2018, with the launch of a new gold/collectibles trading product that would make it possible for existing transactions to be migrated unto that platform for immediate and prompt extra value ...

The Ghana Revenue Authority (GRA) has launched a tax campaign tagged “2018 Tax Campaign” to name, shame, and prosecute tax defaulters, in Accra. The initiative is targeted at raking in more revenue to meet this year’s revenue target as well as increasing voluntary tax compliance. Commissioner General of the GRA Emmanuel Kofi Nti said he expects the period for the ...

In the first half of 2018, the shipment of Huawei smartphones reached a record high of over 95 million units. According to IDC, a renowned global market intelligence firm, the global market share of Huawei smartphones has soared by up to 15.8% in the second quarter of 2018, enabling Huawei to become the second largest smartphone vendor in the world. ...

Noel Kojo-Ganson has been appointed to the position of Chief Marketing Officer (CMO) for MTN Ghana, effective 15th October 2018. Noel’s career with MTN Ghana started in May 2012 as the General Manager, Consumer Marketing, and he has been instrumental in providing commercial leadership and positioning the MTN brand, both in this role and in CMO acting roles… Noel Kojo-Ganson ...