BUSINESS

Government has indicated it intends to raise an amount up to $5.0 billion to support growth-oriented expenditures in the 2021 Budget for this year. The Ministry of Finance, which made this known in a request for expressions of interest (EoI) for some appointments for the 2021 Medium Term ICM Programme, said it also wants to conduct liability management including refinancing ...

The Ghana Investment Promotion Centre (GIPC) has said Chinese investment firm, Chy Century Heng Yue Group Limited has committed an offence for undertaking activities in the capital market. According to the GIPC, though Chy Century Heng Yue Group Limited is a registered firm, it does not have the permission to engage in investments or any capital market operations. Reacting to ...

In the early days of the pandemic, manufacturers were hit hard with forced shutdowns, production slowdowns and serious questions about whether companies could navigate the disruptions. Manufacturing indicators had shown early 2020 momentum, but US industrial production in March registered a month-over-month decline of 4.5%, followed by a deeper decline of 11.2% in April. What did increase in 2020, however, ...

The National Labour Commission (NLC), will today, Wednesday, 13 January 2021 give its ruling on the case of some 30 workers of the Coca-Cola Bottling Company Limited who were allegedly dismissed wrongfully. The ruling will indicate whether the Management of the Company erred in sacking the employees without a final conclusion to the matter. The General Secretary of the Industrial ...

Facebook recently asked WhatsApp users to accept its updated terms of service and privacy policy – or else lose access to the app. “As part of the Facebook family of companies, WhatsApp receives information from, and shares information with, this family of companies. We may use the information we receive from them, and they may use the information we share ...

The Government of the Republic of Ghana intends to launch a 2021 International Capital Market (ICM) funding programme for the medium term. Accordingly, the government says it is looking for Co-Managers for the 2021 Medium Term ICM Programme. For the 2021 portion of the programme, the Government intends to raise up to US$ 5.0 billion to support growth-oriented expenditures in ...

The Securities and Exchange Commission (SEC) has warned the public to abstain from engaging in any capital market activity with Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited. According to SEC, the two entities have not been licensed to invest or trade for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929). A ...

Four armed robbers made off with US$2,5 million and $40 000 in dramatic fashion after they had reportedly been offered a lift by a security company cash-in-transit vehicle. The spellbinding incident, which has seen three suspects being arrested and assisting police with investigations, occurred on Wednesday around 2pm along the Harare-Chinhoyi Road near Gwebi River Bridge. Police yesterday said the ...

The Ghana cedi ended last year with a depreciation rate of 3.93 percent to the US dollar, making it one of the best-performing currencies in Sub Saharan Africa. The impressive performance also makes it the best since 2017 when it depreciated by only 4.88 percent. At the forex bureau, the rate of depreciation was even lower at 2.2 percent. Joy ...

The Institute for Energy Security (IES) is projecting price of fuel on the domestic market going up marginally in the first pricing window of January 2021. According to the IES, For the period under review, fuel prices appreciated locally. “Price of petroleum products within the second Pricing-window of December 2020 saw majority of Oil Marketing Companies (OMCs) increasing prices of ...