BUSINESS

Moody’s Investors Service has affirmed the B3 long-term issuer ratings of the government of Ghana. The outlook remains negative, a statement said. Moody’s has concurrently affirmed the B3 foreign currency senior unsecured debt ratings, the (P)B3 senior unsecured MTN programme rating and the B1 rating of the bond enhanced by a partial guarantee from the International Development Association (IDA, Aaa ...

The Akufo-Addo-led government’s One-District-One-Factory policy is one of the worst economic strategies an international monetary policy advisor with the European Financial Reporting Advisory Group Dr Jerry Kombat Monfant has said. The One-District-One-Factory Initiative is a key component of the industrial transformation agenda of the NPP government. The concept was first introduced by the Ministry of Trade, Industry and Presidential Special ...

The leadership and Management of Zenith Bank Ghana Limited headed by the MD/CEO, Mr. Akindele Ogunranti has responded to H.E the President’s appeal to corporate Ghana to support the National teams especially the Black Stars with their widows mite to embark favourably on the the 2022 FIFA World cup qualifiers and next year’s AFCON Tournament. In a short ceremony to ...

The Accra High Court has halted the construction of a cement factory, which is under the one-district-one factory initiative, at McCharty Hill in Accra following a legal action by residents of the area. In a ruling Tuesday, [September 7, 2021], the court, presided over by Justice Joseph Adu Owusu Agyeman, ordered Empire Cement Ghana Limited to cease construction of the ...

Information gathered by the B&FT has revealed that importers of refined oil palm products, particularly vegetable cooking oil, are shortchanging government by under-declaring the actual prices of their imported products at the port, despite the introduction of the 50 percent benchmark values policy which has significantly slashed the duty they pay. Data this paper has gathered has revealed that, in ...

Energy Minister Dr Mathew Opoku Prempeh has said that the establishment of a petroleum hub in Ghana will propel economic growth and prosperity for the people of this country. He said this creation will boost the petrochemical industry of the local economy. The establishment of the hub was given a major boost when the Paramount Chief of Western Nzema Traditional ...

Information Minister Kojo Oppong Nkrumah has revealed that the Ghana Investment Promotion Centre (GIPC) brought over 2.6b USD worth of investments into Ghana in 2020. He said this in relation to the ongoing GIPC Annual Investment Summit dubbed #SparkUp2021. In last year, Ghana saw a surge in Foreign Direct Investments (FDI) inflows, recording an impressive 2.6 billion dollars’ worth of inbound investments ...

MTN Ghana has appointed Mr. Shaibu Haruna as Chief Sales and Distribution Officer with the responsibility of providing strategic direction for MTN’s Sales Strategy, Operating Model, Channels distribution as well as digital sales infrastructure. He will also support MTN accelerate growth and digitalization in accordance with the company’s Ambition 2025. Shaibu is a visionary and results oriented executive with proven ...

EQUITY investor, Quick Angels Limited, has supported an indigenous paint manufacturing company to raise its daily production capacity by a dozen times to help meet demand and industrialise the economy. The company, Dominion Paints Manufacturing Industries Limited (DOPAMIL), was producing 2,000 litres of the Agatex brand of paint per day upon demand but raised it to 40,000 litres in a ...

Toyota Motor Corp said on Tuesday it expects to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system – a bid to lead in the key automotive technology over the next decade. The world’s largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is now moving rapidly to deliver its ...