Home » Business

Business

President encourages companies to exploit incentives under IDIF

The President, Nana Addo Dankwa Akufo-Addo, has advised Ghanaian private companies to take advantage of the incentives under the ‘One District, One Factory (IDIF)’ Initiative. This would help expand their existing facilities, with the prospects of also establishing new ones to stimulate economic growth, he noted. President Nana Akufo-Addo, who was inaugurating the Premium Foods Limited, an agro-processing company, at ...

Read More »

BoG abolishes bank charges on savings account and other ‘unfair’ fees

The Bank of Ghana has directed banks and Specialized Deposit-Taking institutions to desist from charging some fees and charges, as well engaging in some practices it describes as unfair to the banking populace. The fees and charges, and practices identified by the central bank as unfair include, Credit Insurance Premium Overcharges, Maintenance Fees on Savings Account, Over the Counter (OTC) ...

Read More »

DBG to help increase cocoa processing companies in Ghana – COCOBOD CEO

Chief Executive Officer of COCOBOD, Joseph Aidoo Boahen, has expressed optimism that the establishment of the Development Bank Ghana (DBG) will help increase cocoa processing companies in the country. According to him, the low-interest rates to be offered on loans offered by the DBG, will serve as an incentive for persons willing to venture into cocoa processing and value addition ...

Read More »

PIAC charges GRA to recover $2.1 million surface rental arrears from oil companies

The Public Interest and Accountability Committee (PIAC), has urged the Ghana Revenue Authority (GRA) to retrieve some $2.1 million owed the state by international oil producing firms operating in the country. PIAC in its annual report noted oil majors operating Ghana’s 3 oil fields – Sakofa Gye Nyame, TEN and Jubilee – owed the state to the tune of $2.1 ...

Read More »

Gov’t launches Fraud Control Dashboard to curtail digital crime

Vice President Dr. Mahamudu Bawumia has launched joint platform between telecom industry players, financial technology service providers, the Bank of Ghana and the police to fight against fraud in the digital finance ecosystem. The platform dubbed Fraud Control Dashboard (FCD), has become necessary because, as Ghana marches towards a cash-lite, society, characterized by the wide usage of digital financial service, sophisticated ...

Read More »

Accra to host ‘Make in Africa 2021 Summit’

World Trade Centre Accra (WTC Accra) in collaboration with government ministries across Africa (concerned with trade, investment promotion and economic management), manufacturing firms, investors, development partners and other relevant stakeholders will hold the maiden edition of its Make in Africa 2021 Summit on the 30th June, 2021 under the theme “Showcasing Africa’s Potential as the World’s Next Manufacturing Hub”.   ...

Read More »

EU threatens to ban cocoa from Ghana over galamsey-induced land degradation

The European Union (EU) is threatening to ban cocoa from Ghana if the negative impact of illegal mining on cocoa farms in the country persists. Making a presentation at the ongoing National Consultative Dialogue on Small Scale Mining in Accra today, April 15, 2021, the deputy Chief Executive in-Charge of Agronomy and Quality Control at COCOBOD, Dr. Emmanuel Agyemang Dwomoh, ...

Read More »

Government exceeds revenue target by Ghs 3 billion for Q1 2021

Government is reported to have surpassed its revenue mobilization target for the first quarter of 2021 by more than Ghs 3 billion. The revenue mobilization performance posited by government for Q1 2021, according to the Bank of Ghana (BoG) is higher than pre-pandemic mobilised revenues. Speaking in a media interaction, Head of Research at the BoG, Philip Otoo, noted the increased ...

Read More »

2.4% fall in Brent Crude price to cause a decline in diesel price at pumps – IES projects

The Institute for Energy Security (IES) has projected a fall in the price of gasoil (diesel) at the various pumps continuing into the second pricing window of April. The fall in the price of diesel, according to the energy think tank, follows a 2.4 percentage points fall in the price of Brent Crude oil on the international market from a ...

Read More »

Name on MoMo account and ID must match to enable cash-out transaction, MTN says

Starting Friday, April 2, 2021, all mobile money customers would have to present a valid ID card that matches the name on the mobile money account before they can make a cash-out transaction Initially, the company announced that customers would need to present an ID card to the mobile money agent before a cash-out transaction can be done, but CEO ...

Read More »