BUSINESS

MEMBERS OF some private commercial drivers’ organisations have announced they are considering a 20 per cent increase in lorry fares for commuters. The associations and unions, comprising the Ghana Committed Drivers Association, International Drivers Road Transport Union, Truth Drivers Union, and Concerned Drivers Association, among others, which disclosed this in a joint statement, said the increase became necessary following recent ...

REMITTANCES TO Ghana increased by 5% to $3.6 billion in spite of the economic challenges posed by the COVID-19. The World Bank’s 2021 Migration and Development report, which made this known, said with the exception of Nigeria where there was a significant decline in remittances, foreign inflows to Africa went up by 2.3%. The report said Ghana ranked second behind ...

The Bank of Ghana’s Monetary Policy Committee (MPC) meeting which was to be held on 19th to 21st May 2021 has been rescheduled the Bank has announced. The new date for the meeting is 26th to 28th May 2021. The BoG in a statement added that it will organise a press conference after the MPC meeting on 31st May 2021. ...

THE ASANTEHENE, Otumfuo Osei Tutu II, has asked government to ban the use of mercury in the country’s small-scale mining sector. He said the use of mercury in gold processing was toxic hence the call for its outright ban to save human health and the environment. Speaking at the regional consultative dialogue on small-scale mining in Kumasi, Otumfuo Osei Tutu ...

NANA DWEMOH Benneh, CEO of Universal Merchant Bank (UMB), on Thursday visited the Yaa-Naa’s Court in Yendi and presented some items towards the celebration of this year’s Eid Mubarak. The visit was to formally introduce himself to the Overlord of Dagbon, Yaa-Naa Abubakari Mahama II, as the CEO of UMB. Accompanied by senior executives of the bank, Nana Dwemoh Benneh ...

The African Development Bank Group and the European Bank for Reconstruction and Development (EBRD) on Monday signed a memorandum of understanding to promote sustainable private sector development in Africa. The memorandum of understanding will help catalyse new sources of financing to help bridge the $2.5 trillion annual financing gap for development in Africa. This gap requires that development finance institutions ...

The International Monetary Fund (IMF) has said Ghana’s economy, supported by a strong policy response, is rebounding after the impacts of the COVID-19 pandemic, which affected the real GDP growth. In a statement issued and signed by its Press Officer, Lucie Mboto Fouda after preliminary findings of staff at the end of an official visit to Ghana, the IMF lauded ...

The management of Dzata Cement says it yet to announce the price of its products. It comes after widespread social media reports that the cement is selling for GHC30,  a price way below competition. Different brands of cement sell between GHC45 and Ghc50 currently in Ghana. In a statement, the Ibrahim Mahama-owned business said the public should ignore reports of  ...

This May, the African Development Bank Group is launching a call for proposals for projects enhancing the viability and sustainability of women entrepreneurship enablers. Women’s business associations, incubators, accelerators, and cooperatives that advance women’s entrepreneurship, can apply for funding for innovative projects or programs to bolster the skills of small and medium enterprises (SMEs) owned and run by women across ...

Some drivers of Bolt and Uber in the Ashanti region are threatening a week sit-down strike to demand better conditions of service. The drivers took to the streets of Kumasi today to express their grievances with their ride-hailing app companies. They insist service charges are customer biased with no regard to losses made by drivers. They also complain the service ...