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Ghana Business News

Moody’s to downgrade many more countries – Finance Lecturer

Moody’s to downgrade many more countries – Finance Lecturer

Dr Lord Mensah, a finance lecturer at the University of Ghana Business School, has noted that more countries will be downgraded by Moody’s in the coming days following the effect of the COVID-19 on the economy. This was after the credit rating agency downgraded Ghana’s economic outlook to negative from positive on Monday April 20. […] Read More

Is the one pesewa coin still valuable in Ghana’s economy?

Is the one pesewa coin still valuable in Ghana’s economy?

Some Ghanaians reject the 1 pesewa coin as a medium of exchange The use of smaller coin denominations is gradually becoming extinct as many people are placing almost no value on the legal tender. For now, the one pesewa coins have virtually lost their economic value. Apart from the banking sector and a few other […] Read More

TOR MD, Asante Berko resigns after SEC corruption charge

TOR MD, Asante Berko resigns after SEC corruption charge

  Berko who was appointed MD of the country’s only oil refinery in January 2020, tendered in his resignation today April 15, 2020, and the President has accepted it.Asante K. Berko, the Managing Managing of the Tema Oil Refinery (TOR) has resigned, two days after the US Securities and Exchange Commission (SEC) charged him in […] Read More

COVID-19 poses no major threat to Ghana’s food security – Agric Minister

COVID-19 poses no major threat to Ghana’s food security – Agric Minister

The Minister for Agriculture, Dr. Owusu Afriyie-Akoto, says Ghana’s food security is assured, and that the country faces no shortage in spite of the Coronavirus pandemic in Ghana. According to him, the abundance in food is attributed to the success government’s flagship Planting for Food and Jobs Programme. Following the outbreak of the novel Coronavirus […] Read More

Local companies make progress in PPE production for COVID-19 fight

Local companies make progress in PPE production for COVID-19 fight

Some local companies that have received financial support from government are making progress with the mass production of Personal Protective Equipment (PPE) to strengthen government’s fight against the spread of COVID-19. Four companies, namely Dignity Apparel, Cadling Fashion, Alfie Design and Sleek Garment Export Limited have all received a total of 10 million dollars as […] Read More

Rural banks next after microfinance, microcredit cleanup – BoG

Rural banks next after microfinance, microcredit cleanup – BoG

Head of Other Financial Services at the Bank of Ghana, Kofi Amoah Awuah The Bank of Ghana (BoG) says work is ongoing to assess the status of rural banks across the country as part of the financial sector clean-up exercise. According to the BoG, some of the rural banks facing liquidity challenges are being advised […] Read More

Ghana to enforce local content policy in public contracts

Ghana to enforce local content policy in public contracts

The government is to enforce the local content policy in the award of contract in the building industry. This is to ensure that 40 per cent of all public contracts in the building industry is reserved for local contractors to help generate employment in the country. This was contained in a speech read on behalf […] Read More

World Bank predicts global remittances may drop by 20% in 2020 due to COVID-19

World Bank predicts global remittances may drop by 20% in 2020 due to COVID-19

The World Bank is projecting that global remittances  may decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, […] Read More

TUC urges use of social dialogue in addressing COVID-19 impact on jobs

TUC urges use of social dialogue in addressing COVID-19 impact on jobs

Director of Research and Policy at the Trades Union Congress (TUC), Dr. Kwabena Nyarko Otoo, is calling on government and stakeholders to resort to social dialogue in addressing the economic impact of the novel Coronavirus on businesses. Social dialogue is the process whereby social partners negotiate, often in collaboration with the government, to influence the […] Read More

Keep your receipts because I’ll audit COVID-19 Funds – Mahama

Keep your receipts because I’ll audit COVID-19 Funds – Mahama

Mr John Dramani Mahama has indicated he will audit the COVID-19 fund that has been created to finance activities relating to the fight against the pandemic. He cautioned all persons who use the funds to keep their receipts because “the day of accountability will come”   The government of President Nana Addo Dankwa Akufo-Addo created […] Read More

IMANI urges gov’t to suspend implementation of UNI-PASS

IMANI urges gov’t to suspend implementation of UNI-PASS

Policy think-tank, IMANI Africa, has asked government to temporarily suspend the operations of UNI-PASS and allow GCNET and West Blue to operate for the remainder of the year to rake in revenue in excess of GHS10 billion for the country considering the impact of the COVID-19 pandemic on trade activities. According to the Policy think-tank, […] Read More

Stonebwoy, Richie Mensah, Roberta Annan and others make 2019 top 50 young CEOs in Ghana list

Stonebwoy, Richie Mensah, Roberta Annan and others make 2019 top 50 young CEOs in Ghana list

The 2019 list features 50 of Ghana’s most successful young business leaders The YCEO and Avance Media have officially released the 2019 list of the Top 50 Young CEOs in Ghana, an annual ranking which celebrates and acknowledge young Ghanaian CEOs excelling in various sectors of the economy. The 2019 list features 50 of Ghana’s […] Read More

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