BUSINESS

While Ghanaians are expectantly waiting for March 15 to start enjoying reduced electricity bills, tariff submissions the Electricity Company of Ghana (ECG) has presented to the Public Utilities and Regulatory Commission (PURC) reveal that government will pay GH¢2.3 billion (GH¢2.364 billion) in 2018 for idle capacity. This will cover the capacity charge for 780 megawatts of idle capacity, which translates ...

United Bank for Africa (UBA) Plc has announced the appointment of Mrs. Abiola Bawuah as the new Regional Chief Executive Officer (RCEO) in charge of six African countries. The new appointment, which takes effect from 1st March 2018, will see her overseeing the bank’s businesses in Ghana, Benin Republic, Burkina Faso, Cote D’Ivoire, Liberia and Sierra Leone. Before her appointment ...

Government’s agricultural transformation agenda cannot be realized without agro insurance, according to General Manager of Ghana Agricultural Insurance Pool, Alhaji Ali Muhammad Katu. He says flagship programmes such as Planting for Food and Jobs should be backed with interventions to deal with potential risk. “In case of crop failure the farmer should not go and sell his assets; he should ...

Ghana must legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before the IMF reviews a $918 million credit deal next month, the Fund said. The West African nation must also outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its next Eurobond for budget support ...

President Nana Addo Dankwa Akufo-Addo has lauded Ecobank over a partnership deal with the National Youth Authority (NYA) to create 3000 jobs. The Pan-African bank is offering to absorb 3000 unemployed youth after undergoing a three-month training programme. The NYA on Thursday, February 08, 2018 launched the Digital Marketing and Entrepreneurship Programme for persons between the ages of 15 to ...

President Akufo-Addo has appealed to banks in the country to complement the achievement of his government by reducing lending rates to the private sector. Delivering the special guest of honour address at the official opening of the newly built Ecobank Ghana Head Office in Accra, the President said lending rates have remained  high irrespective of the fact that  fiscal deficit ...

Ghana’s macroeconomic performance improved in 2017 after a difficult 2016, according to the World Bank. The country’s economy expanded for the fifth successive quarter in September 2017, at a rate almost double that of 2016, according to a World Bank report released Monday. The 3rd edition of the Ghana Economic Update, which focuses on agriculture as the engine of growth ...

In an unexpected move that could be the beginning of a restructuring of the local banking space, a consortium of financial institutions that control majority shares in agric-focused bank, Agricultural Development Bank (ADB), have pledged their shares, proceeds, entitlement and voting rights to uniBank, a leading local bank. The consortium, led by Belstar Capital–a turnkey project finance and implementation institution–also ...

The Public Utilities Regulatory Commission (PURC) has announced a staggering electricity tariff reduction. The decision comes after an extensive stakeholder consultations, detailed technical analysis of utility tariff proposals and consideration of inputs and concerns of consumers. Per the summary of the approved percentage reductions residential consumers will enjoy 17.5% reduction with Non-Residential consumers enjoying 30% with Special Load Tariff Customers ...

The Managing Director of Stanbic Bank Ghana, Alhassan Andani has revealed that he had an opportunity to wear sandals for the first time when he gained admission into Senior High School (SHS) in Tamale. According to him, he never had any opportunity to wear sandals when he was growing up as a village boy at Sagnarigu, a suburb of Tamale. ...