BUSINESS

Governor of the Bank of Ghana, Dr. Ernest Addison, has said that the central bank is in no rush to announce the widely anticipated new minimum capital requirement for commercial banks operating in the country. The governor, addressing his maiden Monetary Policy Committee (MPC) press conference last Monday said much as recapitalization of the banks is very necessary, the bank ...

Government has inaugurated the Elmina Processing Plant in Elmina in the Central region. The US$7.48m project, according to the minister of Fisheries and Aquaculture Development, Elizabeth Afoley Quaye, is intended to bring lasting relieve to the fishing communities in the area. She indicated that government is indeed committed to improving the fishing business so that the fisher folks can have ...

Emirates has introduced new sustainable blankets made from 100% recycled plastic bottles. The soft and warm blankets are made using ecoTHREAD patented technology and is now available in Economy Class on all long-haul Emirates flights. Each Emirates ecoTHREAD blanket is made from 28 recycled plastic bottles. With the latest innovation, the bottles are recycled into plastic chips before being turned ...

The Minister of Trade and Industry, Alan Kyeremanten, has disclosed that, the government is willing to invest not more than 30 percent equity, if required, in any of the proposed “One District One Factory” projects. According to the Trade and Industry Minister, investing only 30 percent equity in its flagship policy initiative, is to ensure that the “One District One ...

The Katanka Group, a local automobile manufacturing company, plans to capture the local market before making inroads into the international scene. The move is to make the company’s automobile products more competitive on the local market. At a ceremony to present the keys of a four-wheel drive vehicle, “Onantefo Kantanka” brand to the Minister of Trade and Industry, the Chief ...

The Monetary Policy Committee of the Bank of Ghana has reduced the policy rate from 23.5% to 22.5%. The policy rate is indicative of the rate at which the Central Bank lends to Commercial banks. Per the new rate it means bank customers are likely to be paying less on the loan they are servicing or intend taking from the ...

GN Bank has been adjudged the Overall best Sub-Agent for 2016 at the just ended Western Union – Ecobank Subagents Awards Dinner. The event which took place at the African Regent Hotel in Accra last Saturday hosted 17 other Subagents of Ecobank including the Royal Bank, Beige Capital, Best Point Savings and Loans among others. This means many Ghanaians and ...

Beverage company Kasapreko has introduced the first honey drink, Royal Honey Bee unto the Ghanaian market. The company which is partnering with the Ghana Beekeepers Association is investing about $7 million into the project as the company will solely depend on locally-produced honey from farmers to produce the new drink. “We have decided to tap into the business of honey ...

Premium water brand, Bel-Aqua Mineral Water has been named water Brand of the Year by the Ghana Manufacturing Awards for the year 2016. This was after the company beat off competition from other competitive brands like Special Ice, Voltic, Awake Purified Water, and Verna. This is the second award received by the company this year after it was earlier adjudged ...

GN Research has said it expects the Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5%, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the central bank is set to announce a new Monetary Policy Rate (MPR), on Monday ...