BUSINESS NEWS

The intended exercise to block all unregistered SIM cards effective Saturday, October 1, 2022 has been put on hold. This is to allow the Ministry of Communication and Digitalisation to examine the roadmap for the intended exercise. A reliable source close to the SIM registration process has told Graphic Online …

The Minority in Parliament says its privy to some incontrovertible evidence that shows a whopping $100m of Ghana’s oil money has been diverted.   According to a statement issued by Ranking Member, Mines and Energy Committee, John Abdulai Jinapor, revenues accruing from about 944,164bbls of crude lifted in the Jubilee …

Some passport applicants in the country are seething with anger following the inability of passport offices across the country to release their passports despite the expiration of their collection dates.   According to Starr News sources, the passport office is currently only attending to priority cases as the company which …

The Bank of Ghana (Bog) has warned individuals who have acquired loans through mobile money platforms but have deliberately refused to register their SIM cards to enable them repay the loan. The central bank says data on all mobile money loan customers are avilable in the data base of credit …

Fitch Ratings has downgraded Ghana’s Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘CC’, from ‘CCC’. Fitch typically does not assign Outlooks to issuers with a rating of ‘CCC’ or below. A full list of rating actions is at the end of this rating action commentary.       …

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 …