BUSINESS

The Chief Executive Officer for the Africa Energy Consortium Kwame Jantuah, has taken a thinly-veiled swipe against the Finance Minister, Ken Ofori Atta, saying Ghana’s economy must not be handled by people who grew up rich, a term locally referred to as ‘Dada Bee’. According to him, such people who were born with a silver spoon in their mouths are ...

Golden Star Resources Ltd. has announced that the Ghanaian Ministry of Lands and Natural Resources has informed Chifeng Jilong Gold Mining Co., Ltd. that it has no objection to Chifeng becoming the controller of Golden Star (Wassa) Limited via Chifeng’s subsidiary, Chijin International (Hong Kong) Limited and/or its assignee. GSWL is Golden Star’s 90%-owned subsidiary that holds the mineral rights ...

The Monetary Policy Committee (MPR) of the Bank of Ghana has increased its policy rate by 100 basis points from 13.5 per cent to 14.5 per cent, citing inflationary pressures. “Inflationary pressures are becoming embedded in most advanced and emerging market economies with potential implications for the current supportive financing conditions driving the recovery,” the Bank of Ghana said in ...

LONACI Foundation, the Corporate Social Responsibility arm of the Ivorian Lotto Regulatory body has donated thirty million (30,000,000 )CFA equivalent of 60,000 US dollars to the Good Causes Foundation of the National Lottery Authority. The Head of Nationale Loterie de Côte D’ ivoire, Mr Dramane Coulibaly made the pledge of the said amount during the official launch of the Caritas ...

The Ghana National Gas Company Limited (GNGCL) has said it will not shy away from routine engineering and maintenance of machines and equipment at its Gas Processing Station at Atuabo in the Western Region. The Company insist that engineering and maintenance works are only to guarantee the integrity of its processing plant and will continue to do so in accordance ...

Some mobile money agents have rejected the introduction of the tax introduced on mobile money transactions by the government. Some of the agents told TV3 after the budget presentation that “The telcos are already paying and you are coming to charge the vendor for it? How much are we making out of it? I am a graduate and I am ...

Ningo Prampram lawmaker Samuel Nartey George has said the government did not engage the telecom companies before announcing the introduction of the tax on mobile money services in the 2022 budget statement. Sam George who is also a member of the communications committee of Parliament described the government as ‘clueless bunch’. “Let me state for the records that the govt ...

e-Commerce giant Jumia’s third-quarter results are out. The Africa-wide country reported impressive profits amid huge operating losses. $25.5 million was recorded as gross profits, according to the company, while operating losses for the third quarter went up to $64 million. Operating losses for the quarter is about 250 per cent greater than gross profits. Jumia recorded a 5.7 per cent ...

The YouStart initiative that has been introduced by the government in the 2022 budget statement will help in reducing the youth unemployment situation in the country, Lawmaker for Nsawam-Adoagyiri, Frank Annoh-Dompreh, has said. “The 2022 Budget demonstrates a listening government in touch with our challenges as Ghanaians. Initiatives like YouStart tackle the challenge of youth unemployment head-on. Govt is still ...

Ghana is developing a proposal for the adoption of E-Mobility in the transport sector to address the high levels of Green House Gas (GHG) and air pollution associated with the sector Finance Minister Ken Ofori-Atta has disclosed. Road transport alone contributes 45.4 percent of total fuel combustion emissions and accounts for 13 percent of the overall national GHG emissions. The ...