Category: Business

Kwame Awuah-Darko, a leading member of the National Democratic Congress (NDC), has suggested that funds allocated to the National Builders’ Corps (NABCO) programme could have been more effectively invested in the agricultural sector, specifically in large-scale rice production, to create sustainable employment opportunities for Ghanaian youth. Mr. Awuah-Darko pointed out that since its inception, NABCO...

The Bank of Ghana (BoG) has commenced its regular Monetary Policy Meetings, running from Wednesday, November 20, to Friday, November 22, 2024, to assess the state of the economy. The 121st meeting will focus on evaluating current inflation levels and overall economic conditions. In its previous meeting, the Bank of Ghana reduced the Monetary Policy...

Three individuals linked to the Aisha Huang case have been charged with conspiracy to undertake mining operations without a license, violating Section 23(1) of the Criminal Offences Act, 1960 (Act 29) and Section 99(2)(a) of the Minerals and Mining Act, 2006 (Act 703), as amended by Act 995 of 2019. Specific Charges Li Wei Guo...

Dr Papa Kwesi Nduom, the Global Chairman of Group Nduom (GN), has urged Ghanaians to cast their votes in favour of political parties that champion the cause of investing in local enterprises to foster growth, expansion, and employment opportunities. He said fostering a more sustainable and self-sufficient economy, required an unwavering support for domestic businesses...

Varun Beverages, an Indian multinational led by billionaire Ravi Jaipuria, has agreed to acquire PepsiCo’s bottling operations in Ghana for $15.1 million. In a statement, the company said the deal forms part of a broader $169.6 million purchase covering operations in both Ghana and Tanzania and marks an expansion of Varun Beverages’ footprint in Africa....

Consolidated Bank Ghana (CBG) has assured customers that the suspension of its foreign exchange license will not disrupt its core banking operations. The bank confirmed that all branches and digital platforms remain fully operational, urging customers to remain calm. The Bank of Ghana (BoG) imposed a one-month suspension of CBG’s forex license, effective November 26,...

The Ghana Commodity Exchange (GCX) has reported a substantial decline in trading activity for 2023, with total trade value falling to GH₵11.3 million — a 45% decrease from GH₵20.7 million in 2022. This downturn, detailed in the 2023 Financial Stability Review, underscores the economic and environmental challenges facing Ghana’s agricultural market. GCX’s traded commodities include...

Independent Power Producer Sunon Asogli Power Ghana Limited has reported that it has not received any part of the 30 million dollars directed by the Ministry of Finance for release by the Controller and Accountant General’s Department (CAGD), despite government assurances. This update follows Sunon Asogli’s recent shutdown of its 560MW power plant due to...

Government is intensifying its efforts to bring private sector engagement into the operations of the Electricity Company of Ghana (ECG) as part of a major reform to stabilise the sector’s finances and ensure long-term sustainability. Finance Minister Dr Mohammed Amin Adam highlighted the urgency of these reforms at the recent IMF/World Bank meetings, pointing out...