BUSINESS

Ghana will end the year 2021 with an overall GDP of between 3.9% and 4.9%, Databank Research has said. “We expect the increased utilisation of spare production capacity to sustain the recovery in the manufacturing and trade sub-sectors”, the report said, adding: “We, however, view the rising cost of production occasioned by the tax hikes, transport fare hikes, and higher ...

Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat Wamkele Mene has called on African leaders to re-double their resolve to forge ahead with economic integration of the continent. According to the Secretary-General much work remains ahead in the implementation of the AfCFTA. To date, 54 countries have signed the free trade agreement and 40 countries have ratified it, ...

Director of Business Operations at Dalex Finance, Joe Jackson has warned that the third wave of Coivd-19 will be devastating to Ghana’s economy particularly, the service’s sector. According to Mr. Jackson, a third wave will also have a negative effect on the country’s economic recovery. His caution comes at a time Ghana is recording a high number of active cases ...

The Price of fuel on the local market will remain stable in the second pricing window of July the Institute of Energy Security (IES) is projecting. The IES noted that within the first pricing-window of July 2021, the majority of the Oil Marketing Companies (OMCs) maintained their prices of petroleum products at the pump and the national average price of ...

One of the Groupe Nduom companies, Gold Securities Company Ltd now BlackShield and Ghana Growth Fund Company Limited, members of Groupe Nduom, an indigenous Ghanaian business conglomerate, have won a massive GHS174 million judgment against Health Network Company Limited. The ruling was given by the Commercial Division of an Accra High Court on Thursday, July 15th, 2021. The ruling, according ...

The Ghana Union of Traders Association (GUTA) has kicked against attempts by the customs division of the Ghana Revenue Authority (GRA) to adopt freight charges into their duty calculations. GUTA, in a statement signed by its President Dr Joseph Obeng, said the move is “unacceptable”. According to GUTA, “world commodities prices have gone up astronomically, freight charges have gone up ...

The lead operator of the Offshore Cape Three Point (OCTP), Eni has announced a significant oil discovery in Ghana with the potential to produce 700 million barrels of oil equivalent (Mboe). The company in a statement said the discovery was made on the Eban exploration prospect in Cape Three Points Block 4, offshore Ghana and production testing data show a ...

Broll Ghana Limited, the country’s foremost property services company, has officially launched its 15th-anniversary celebration to share its success story, reflect on where it started from, where they are now and importantly where it’s heading. The launch, which was held under the theme: “15 years of progressive leadership in real estate services in Ghana,” was carefully selected to reflect on ...

The World Bank announced on Wednesday, 30 June 2021, that it is providing over $4 billion for the purchase and deployment of COVID-19 vaccines for 51 developing countries, half of which are in Africa. More than half of the financing comes from the International Development Association (IDA), the Bank’s fund for the world’s poorest countries, and is on grant or ...

Wilmar, one of the leading manufacturers of household consumer products in Ghana has today inaugurated a first of its kind Detergent Manufacturing Plant at its factory in Tema. The US$30 million Detergent Plant has the capacity to produce up to 24,000MT metric tons of detergent which is enough to meet the country’s total demand for detergent. In addition, the opening ...