Category: Ghana Business News

Cashew farmers in the Bono and Bono East Regions have reiterated their call on government to support them to increase their yield and also regulate pricing to ensure fair trade. The farmers made the call when two thousand and fifty of them from 21 communities received bonus packages from Red River Foods Ghana Limited for […]

The Ghana Private Road Transport Union, GPRTU, says it will petition the Presidency through the Ministry of Transport, for an upward review in transport fares to mitigate the impact of COVID-19 on the operations of members. The appeal follows demands by drivers for fares to be adjusted to cater for the revenue losses due to […]

CalBank Limited has changed its name to CalBank PLC. According to the company, the change of name took effect from Monday, July 1, 2020. A statement from the company on the new development indicated that the change of name is pursuant to provisions in the Companies Act, 2019 (Act 992). The ACT requires that all […]

As more people rely on digital banking platforms to reduce human interface in the wake of the COVID-19 pandemic, some analysts in the some financial space have cautioned consumers to be wary of increasing cyber fraud. According to some observers of the financial sector, there was an increase in cyber fraud in Ghana during the […]

Players in the hospitality industry say they expect the Finance Minister, Ken Ofori-Atta to provide clear modalities on how government intends to help their businesses bounce back in the upcoming Mid-Year budget review following the negative impact of COVID-19. At a meeting with President Akufo-Addo, the hospitality industry made up of different associations explained that […]

An Economist, Dr. Adu Owusu Sarkodie, says the Finance Minister, Ken Ofori-Atta should be able to outline the progress made so far with the allocation of support under the government’s Coronavirus Alleviation Programme when he presents the Mid-year budget review to Parliament later this month. Dr. Sarkodie says limiting budgetary allocation is critical, since an […]

Jubile partner, Kosmos Energy, has urged government to facilitate exploration projects for oil companies in the wake of the COVID-19 pandemic. The fall in oil prices coupled with reduced demand for oil, has taken a toll on the global oil industry  and affected players in Ghana’s oil sector. Having set a benchmark of $58.66 oil […]

First National Bank Ghana has confirmed the conclusion of the merger with its subsidiary, GHL Bank. The merged entity will be known as First National Bank Ghana. According to a statement from First National Bank, the newly formed and strengthened entity will offer a portfolio of unique innovative financial solutions for retail, corporate and investment […]

It appears that inasmuch as the COVID-19 pandemic has disrupted many economic activities and led to job losses, other sectors of the economy are making gains. Ghana for instance imports a chunk of its fresh tomatoes from neighboring Burkina Faso, but the closure of borders coupled with low production, has shifted the focus to local […]

The Bank of Ghana in its last auction of forex in June, received 33% of the total amount of dollars dealers bid for. The total bids were also about three times lower than the figure offered by the dealers. For the last auction in June 2020, the Forex Auction Committee of the Bank of Ghana […]

Fidelity Bank Ghana has held its 2020 Annual General Meeting (AGM) via a virtual platform for its shareholders to receive and adopt the Reports of the Directors, Auditors and the Financial Statements for the year ended 31st December 2019. At the meeting, the Bank announced a 33% increase in profit before tax to GH¢322 million […]

Ghanaian Food Safety Expert and Senior Research Scientist at the Biotechnology and Nuclear Agriculture Research Institute (BNARI) – Ghana Atomic Energy Commission (GAEC), Dr. Mavis Owureku-Asare, says Ghanaian scientists must be encouraged to recommend solutions that best fit the country’s problems. According to her, the time is ripe for Ghanaians to look “inward” for solutions […]

The Peasant Farmers Association of Ghana, PFAG, has warned that the country could suffer rice shortage this year following the negative impact of COVID-19. Ghana imports about US$1 billion worth of rice annually to meet a monthly rice demand of 940,000 tonnes. But according to the Association, the COVID-19 restrictions in countries that Ghana imports […]

The Ghana Rice Inter-professional Body says it is looking forward to the Ghana Buffer Stock Company to offer rice farmers with ready market for their produce after harvest. After reports of unsold rice in the Upper East Region, the Buffer Stock Company intervened to assist the farmers. Addressing the media at a national engagement by […]

Members of a group calling itself the Coalition of Aggrieved Fund Management Customers have given government by close of July to pay all locked up funds due them or face their wrath. In March this year, the Deputy Director-General of the Securities and Exchange Commission, SEC, Paul Ababio, told Citi Business News investors of the […]

The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated […]

The Chief Executive Officer of Ghana COCOBOD, Joseph Boahen Aidoo, says government has been able to erase the misconception that Ghanaian cocoa farmers exploit children on their farms. A recent report funded by the US Department of Labour, claimed that Ghana and Ivory Coast were using more than 2 million children on cocoa farms. Even […]

The Governor of the Bank of Ghana, Dr. Ernest Addison, has said reduced domestic interest rates will empower local banks to participate in the cocoa syndicated loan. COCOBOD is seeking to raise 1.3 billion dollars to finance the 2020/2021 crop season. But some financial analysts have maintained that the funds used in purchasing cocoa beans […]

The Managing Director of Jobberman Ghana, an HR recruitment Solutions firm, Kwaku Agbeshi, has advised employees to enhance their skill set by being innovative in the face of uncertainties like the coronavirus pandemic. According to him, in such situations where job losses are very likely, workers who are innovative and have the right skill set […]

First National Bank Ghana has appointed Dominic Adu as its first Ghanaian Chief Executive Officer. A press statement issued by the bank said Dominic Adu’s appointment will commence, effective Wednesday, July 01, 2020. Dominic takes over from Richard Hudson, who has served in this position since the inception of the bank five years ago. Mr. […]

The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such as the U.S dollar. Despite the existence of the law, the practice exists in many facets of the Ghanaian economy as some businesses have even adopted new ways by […]

The Minister of Environment, Science, Technology and Innovation, Professor Frimpong Boateng, has given a one week ultimatum to some steel manufacturing companies within the Tema Free Zones enclave to come out with a road-map on how they intend to deal with environmental pollution in their areas of operation. The Minister’s warning comes in the wake […]

COCOBOD, Japan International Cooperation Agency, JICA and other Development Finance Institutions have announced a $600 million credit facility for COCOBOD’s Productivity Enhancement Programmes (PEPs). The facility is part of a number of projects in line with the Ghana beyond Aid agenda. In November 2019, Development Finance Institutions (DFI) including African Development Bank (AfDB), Japan International […]