BUSINESS

The president of the Ghana Bankers Association Alhassan Andani has warned that the controversies surrounding the 15-year domestic bonds issued recently by the government could spell doom for the economy. The minority at a press conference Tuesday April 18, 2017 accused Mr. Ofori-Atta [the Finance Minister] of conflict of interest in the issuance of the $2.25 billion domestic bond, arguing ...

John Awuah, CEO, UMB UMB has posted an after-tax profit of GH¢20.4million for the 2016 financial year, representing an impressive 455 percent increase in after tax profit. The bank also recorded a 57 percent increase in customers’ deposits and a 97 percent increase in total assets. Commenting on the bank’s excellent financial results, Chief Executive Officer (CEO) of UMB, John ...

The Minority in Parliament has slammed the Ministry of Finance for personalizing the debate over the controversial US$2.25 billion bond. Government issued 15 and 7-year bonds with a coupon rate of 19.75%, raising a total amount of USD1.13 billion. The Finance Ministry additionally raised cedi equivalent of USD1.12 billion in five and 10-year bonds through a tap arrangement. Former deputy ...

The CEO of skin care company, Second Image, says ladies who try to change their skin colour by bleaching may have a mental problem. Nikki Boamponsem cautioned women who bleach their skin to desist from the practice. The Second Image CEO made the comments while speaking at a seminar organised as part of the Africa Makeup and Beauty Fair in ...

Local engineers at the Ghana National Gas Company (Ghana Gas) have finally taken over technical operations of the country’s premier natural gas processing plant at Atuabo in the Western Region. Consequently, the company has dispensed with the services of expatriate engineers and Sinopec, a Chinese company, which had been in charge of operations of the Atuabo Gas Processing Plant (GPP) ...

The banking industry average base rate as at the end of March stood at 26.7%, data from the Bank of Ghana has shown. The data indicates a drop of 0.9 percent in the base rate from the month- end January rate of 27.6%. The data is contained in the Central Bank’s latest data on Annual Percentage Rates (APR) of interest ...

Staff of the National Insurance Commission (NIC) have denied chasing the Insurance Commissioner Lydia Lariba Bawa as reported by some media establishments recently. They pointed out in a statement that at no time did such a thing happen, stressing that they did not also petition the President regarding the Commissioner’s performance. Their relationship with the lady, they said, has been ...

The statement sparked celebrations in Abossey Okai, the spare part hub of the capital, Accra. Government explained the move is part of a campaign pledge to ensure that Ghana becomes the most business-friendly country in Africa. It has been 46 days since the March 2,2017 announcement but the reliefs have not taken effect. Chairman of the Association, Joseph Paddy who ...

The US$2.25 billion domestic bond issued recently by the government of Ghana did not need to go to parliament for approval, Minister of Monitoring and Evaluation, Dr Anthony Akoto Osei has said in response to a demand by the Minority in Parliament that the bond issue should have gone to the chamber. Also, the Minority in Parliament said Mr Trevor ...

President Nana Akufo-Addo will on Wednesday launch his government’s agricultural flagship programme, Planting for Food and Jobs in Goaso, in the Brong Ahafo Region. Some 200,000 farmers in the region are set to benefit when the programme rolls out. In the 2017 budget, the government earmarked GH?560 million for the initiative expected to create over 70, 000 jobs. The Minister ...