BUSINESS NEWS

Ghana is ranked 1st in Africa with the largest outstanding debt to the International Monetary Fund.   According to the Fund’s Quarterly Finances as of the end of July 2022, the country’s loans outstanding is estimated at 1.31 billion Special Drawing Rights equivalent to about $1.69 billion.   The country’s …

Despite the escalating debt woes of Ghana, Ghana Cocoa Board (COCOBOD) is still expected to attract international banks to its annual one-year pre-export finance (PXF) or otherwise the Cocoa Syndicated Loan.   According to international research firm, Redd Intelligence, it is almost impossible for COCOBOD to default.   Defaulting on …

A new oil refinery under construction in the Tema Industrial Enclave is expected to commence commercial operations in January next year. An investment by the Sentuo Group of Companies, the US$3billion facility, with a capacity of 100,000 barrels per stream day (bpd), will be the largest refinery in Ghana. It …

WhatsApp is developing several updates to enhance its user experience. The instant messaging app is working on updating messages by using their edited version, for a future update of the app, reported WABetaInfo. Once the feature is rolled out, users can edit sent messages. The “edit messages” feature will be …

The security agencies in collaboration with Economic and Organised Crime Office (EOCO) and Financial Intelligence Centre (FIC) on the instruction of the Bank of Ghana (BoG) have commenced a crackdown on illegal forex market operators, also known as black market, report picked up by DGN Online said. Police personnel and …

Players in the Aviation industry say they are hard hit by the high cost of fuel praying for urgent relief from government to cushion them. From the beginning of the year to now, there has been an increase of 112 percent in aviation fuel, Corporate Affairs Manager of Passion Air, …

On 16th of September 2022, Junior Achievement (JA) Ghana  hosted its 2022 National Business Pitch Competition at the Academic City University College in Accra. The National Business Pitch Competition is Ghana’s version of JA Worldwide’s internationally acclaimed Company of the Year Competition. The annual event allows high school students to …

A Professor of Applied Economics at the Johns Hopkins University in Baltimore, Maryland, Steve Hanke, has punched Ghana’s economy yet again on the rate at which things are being worsened on a daily basis.   This is not the first time the Economist is speaking on Ghana’s economy especially after …

The Sunyani airport has experienced its first commercial flight after seven years of closure. This happened during the Transport Minister’s commissioning of the first flight to start its operations in the Bono region.     During the occasion, the Minister of Transport, Kwaku Asiamah stated that those in the Bono …

The Ghana Private Road Transport Union (GPRTU) has insisted there will be no form of increment in transport fares on Monday, September 19, 2022.   This comes after some media reports indicated there was going to be an increase in transport fares from Monday.   Speaking to Citi News, Public …