Business News
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Coronavirus: Markets in Ashanti disinfected
The Ashanti Regional Coordinating Council in collaboration with the Ministry of Local Government and Rural Development on Friday, carried out an exercise to disinfect markets across the region. The exercise which was supported by the Zoomlion Ghana, saw several markets sprayed with chemicals as part of measures being taken by the…
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Financial institutions to remain open during lockdown – BoG
The Bank of Ghana has asked all financial institutions in the country to keep operating but with minimum staff to provide services to clients as parts of the country prepare to go into a lockdown starting Monday. In a statement signed by the Secretary, Sandra Thompson, all Automated Teller Machines (ATMs),…
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COVID-19: Republic Bank defers loan repayment for customers for 6 months
Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited (RFHL), has become the first bank to announce a deferment in the repayment of loans by its customers. The loan repayment deferment for customers and staff of the bank is for a maximum period of six months and is in response…
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Golden Star records fatal Prestea Mine accident
Gold Star Resources has reported a fatal accident at its Prestea Gold Mine. The accident is said to have occurred on Wednesday, March 25, 2020. According to the firm, the accident happened in the main access drive on ‘17 level’ which is currently being developed. “Our employee was fatally injured when…
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IMF to analyse Ghana’s $100m request for COVID-19
The International Monetary Fund (IMF) is yet to evaluate Ghana’s request for Rapid Credit Facility disbursement to help fight the Coronavirus. Ghana made the 100 million dollar request last week as part of efforts by President Akufo-Addo to raise money to fight the deadly coronavirus disease. Finance Minister Mr Ofori-Atta disclosed…
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Fidelity Bank speaks on Kennedy Agyapong, Obinim ‘war’
Fidelity Bank Ghana Limited has broken its silence on allegations leveled by New Patriotic Party (NPP) firebrand Kennedy Agyapong that some of its staff are colluding with Founder and Leader of the International Godsway Church, Daniel Obinim to engage in money laundering. In a statement issued and copied to MyNewsGh.com signed…
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Ghanaians will now understand that parliament needs a new chamber – Speaker
Speaker of Parliament, Prof Mike Oquaye has established that Parliament’s idea of moving to the Accra International Conference Centre (AICC) to observe social distancing during the outbreak of coronavirus proves that a new chamber is needed. The speaker said Ghanaians must realize from all indications that Parliament is in need of…
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Pressure mounts on government to lock down the country
The outbreak of the Coronavirus pandemic has caused many scares in the world now. With over 300,000 infections in about 177 countries the virus could arguably be the most viral disease in the history of mankind. Apart from China, who seem to have put the spread of the disease under control,…
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The world will retrogress in 2020 – IMF
The International Monetary Fund (IMF) has predicted a financial retrogression of the world in the year 2020. It however said that it expects a quick recovery in the year 2020. “To get there, it is paramount to prioritize containment and strengthen health systems—everywhere. The economic impact is and will be severe,…
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Coronavirus: Banks to sanitise cash
Members of the Ghana Association of Bankers, as part of efforts to curb the spread of coronavirus, have agreed to regularly sanitize banknotes. Although the World Health Organisation says banknotes do not transmit the coronavirus, the banks are taking precautions. The Association, in a statement issued in Accra Monday said, they…
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Video: Ashaiman Market Women Clash With AMA Task Force Over Disinfection Of The Market
Traders in Ashaiman have clashed with the task force in charge of fumigating major markets in the Greater Accra Region. The Minister of Local Government and Rural Development, Hajia Alima Mahama announced that markets in Accra will be closed down from today the 23rd of March 2020 a disinfecting exercise. Given…
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Live updates: 1,000 markets in Accra shutdown for fumigation against deadly coronavirus
A major disinfection exercise is taking place throughout some 137 market centers in the Greater Accra Region today, Monday, March 23, 2020. The exercise, the Ministry of Local Government and Rural Development has explained, is to help enhance the conditions of hygiene in markets in the wake of the novel coronavirus…
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Coronavirus: NIC tells staff to work from home
The Commissioner of Insurance, at the National Insurance Commission (NIC) Justice Yaw Ofori, has said the Commission has asked staff whose work permits them to work from home to do so in the wake of the coronavirus outbreak. This forms part of measures to protect staff from contracting the infection. Ghana…
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Active mobile money accounts hit 14.7m
Registered mobile money accounts as at the end of February 2020 was 32.7 million. This was 0.30% growth over the January 2020 estimate of 32.6 million consumers. According to the Summary of Financial and Economic Data, active mobile money accounts was estimated at 14.7 million in February, 2020. This is an increase…
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Free MoMo transactions start Friday-BoG
The Bank of Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments for the next three months in the wake of the Covid-19 pandemic. The new measures take effect March 20, 2020. Per the measures, all mobile money…
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First Secretary General of AfCFTA Secretariat sworn in
A South African, Wamkele Mene, was on Thursday, 19 March 2020 sworn in as the first Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat. Mene was elected in February this year for the top job. He was sworn in at the headquarters in the African Union in…
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Bank of Ghana endorses free Momo transactions
All mobile money transfers of GH¢100 and below will attract no charges from service providers for the next three months, subject to review, the Bank of Ghana has announced. The new move begins Friday, March 20, 2020. CLICK HERE TO READ MORE NEWS It is part of various measures outlined by…
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Ghana’s debt hits GHS218bn in Dec. 2019
Ghana’s public debt stock hit GHS218.0 in December 2019, according to the March 2020 Summary of Financial and Economic Data released by the Bank of Ghana today. This is about 63% of Gross Domestic Product. Out of this, external debt constituted GHS112.5 (US$20.3 billion). This represented 32.5% of GDP. GHS105.5 was…
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Ghana runs to World Bank, IMF for buffer against COVID-19
Ghana has triggered all its contracts with the World Bank and the International Monetary Fund, with the hope of finding external support to address the brunt of the coronavirus (COVID-19) on the Ghanaian economy. “We are currently in discussion with the World Bank to tap into a US$12billion World Bank Group…
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Stanbic Bank in trouble over client’s money
There is a big legal battle raging in court between two senior lawyers; Charles Zwennes and Philip Addison, over the ownership of a company called, Merlin Gaming Ghana Limited, and this has led to discoveries that Stanbic Bank Ghana, has allowed a third party carry out some transactions on an account…
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GUTA ‘defends’ hand sanitizer price increase
After Ghana confirmed 6 cases of the global pandemic; coronavirus, there has been a high demand for disinfectants, especially hand sanitizers on the market. The use of the aforementioned product is among precautionary measures outlined by authorities to help protect oneself from contracting the disease. Many Ghanaians, including newsmakers; Nana Aba…
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MTN now educates customers on corona virus through caller tunes.
The spread of the coronavirus disease in the world has become alarming as many countries are now victims. Ghana recently recorded six coronavirus cases in which the Government reacted quickly to prevent the spread of the virus. Many institutions are closed down as a result of the decisions made by the government…
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UNIPASS contract: Kwaku Kwarteng ‘lied’ – GM GCNet
The General Manager in charge of Technical Administration of Ghana Community Network Services, (GCNet), Carl Sackey, has questioned the government’s rationale in the deployment of the UNIPASS single window system. He argued that “whatever problem that the government intends to solve with the introduction of the UNIPASS system was its own…
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Government approves pay rise for civil servants
Civil Servants in Ghana will from March 2020 begin to enjoy an additional percent pay rise, the dailyguidenetwork reports. This comes after the Finance Ministry granted approval for the payment of the remaining 5 percent interim premium for civil servants. The agreed increment, follows after a signed Memorandum of Understanding (MoU)…
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Check out Bill Gates new job
Bill Gates said he’s stepping down from the board of Microsoft, the company he co-founded in 1975 and built into the world’s largest software maker, to devote more time to philanthropy. Gates, 64, has been scaling back his involvement in the Redmond, Washington-based company for more than a decade. Most recently…
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ASAP Challenges PwC on Valuation of Komenda Sugar Factory
A Civil Advocacy Group known as Alliance for Survival of Abandoned Projects (ASAP) is challenging the justification of a valuation report submitted to Parliament of Ghana by the Trade and Industry Minister, Hon. Alan Kyerematen on 4th April 2019. In the report, it was sighted that the Pricewaterhouse Coopers,…
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EXPOSED!! Attempts to Blackmail DVLA CEO Backfires
License Plate Manufacturers and some nation wreckers in the DVLA have been cited for alleged sabotage and engaging in some nefarious activities against the C.E.O for the Driver and Vehicle License Authority in his quest in transforming and digitizing the registration system in Ghana. In an attempt to block financial leakages…
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Rebecca Foundation gives fridges, freezers, stoves, sewing machines to 180 women
The Rebecca Foundation has presented 180 women from across the country with startup kits to enhance their business. The presentation took place at Cape Coast in the Central Region on Tuesday, 10 March 2020, as part of activities marking International Women’s Day. It was also in support of the Rebecca Foundation’s…
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Court Orders Dr Asiam to be Quarantined After Nigeria Trip
State Prosecutors have asked former deputy governor of the central bank, Dr Johnson Asiama to observe a self-quarantine when he returns from his trip to Nigeria. This call comes after the Accra High court directed the release of Dr Asiama’s passport on Thursday. The ex-bank of Ghana deputy governor is currently…
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Dangote loses $7million in five hours due to coronavirus
Africa’s richest man Aliko Dangote suffered a huge loss due to coronavirus on Wednesday, March 11, as he lost N240 billion in five hours. Dangote’s firms under the parent-company ‘Dangote Group’, suffered huge losses just after the World Health Organisation (WHO) declared coronavirus a pandemic (spreading in multiple countries around the…
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