BUSINESS NEWS

The refurbished Kwame Nkrumah Memorial Park (KNMP) in Accra, Ghana, is to be temporarily closed from midnight on Friday, July 7, 2023, to Tuesday, July 11, 2023. The closure is to allow for preparations towards the commercial operations of the park. This development was announced in a statement signed by …

Ghana’s local currency -the cedi has been classified among Africans currencies with the ‘worst Spot Returns. This is according to a Bloomberg report. On the World Currency Ranker the cedis performance placed 17th, depreciating by 11.21 percent. According to Bloomberg although the cedi lost about 11.21% to the US dollar …

The recent increase in Value Added Tax (VAT) rates in Ghana has sparked concerns among business owners, with the Ashanti Business Owners Association expressing their dissatisfaction. According to the association’s Executive Secretary, Mr. Charles Kusi Appiah Kubi, these tax hikes are adversely affecting Ghanaian businesses and even ordinary households. While …

Minister for Fisheries and Aquaculture Development, Hon. Mavis Hawa Koomson as part of government’s proactive measures put in place to sustain Ghana’s fishing industry has on Saturday, July 1, 2023 placed a ban on all fishing activities within the country. She made this declaration at the 2023 closed season ceremony …

The Bank of Ghana has taken strict action against Fidelity Bank and First National Bank Ghana Limited, imposing a combined penalty of 1000 penalty points each. The penalties have been levied due to the banks’ breach of sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules. …

The Upper East Regional public health emergency management committee has reviewed the ban placed on ruminants (cattle, sheep, goats, pigs and donkeys) from neighbouring countries. The committee on June 7, 2023, placed an indefinite ban on the movement, slaughtering and consumption of ruminants following the outbreak of anthrax. The Office …

MTN, a leading telecommunications company, has announced an upcoming change to its mobile money withdrawal transaction fees. Starting from July 1, 2023, customers will experience an increase in fees for cash-out transactions above a certain threshold. In a recent SMS circular sent to its customers, MTN MobileMoney Limited informed them …

The institute for energy policy and research has done extensive work on the Tema Oil Refinery (TOR) transaction with Torentco Asset Management Limited (TAML). The institute has published it findings in a press release signed by Kwadwo Poku, the Executive Director of the institute. The publication discusses the current state …

The Independent Power Producers (IPPs) have reminded Finance Minister, Ken Ofori-Atta, of their intention to cut power supply to the national grid from July 1, 2023. This was after an emergency meeting held on Tuesday, June 20, 2023. According to the Chamber of Independent Power Producers, calls on the government …

The Senior Staff Union of the Tema Oil Refinery has urged the general public to disregard recent ‘misinformation’ concerning the TOR-Torrentco proposed partnership. According to the Union, the architects of the ongoing propaganda against the partnership are “either being ignorant about the real facts or being sponsored by adversaries of …