BUSINESS NEWS

Electricity supply has been restored at the new Kejetia market in Kumasi in the Ashanti region after it was disconnected following the non-payment of bills. The facility owes over 2 million Ghana cedis within a period of six months. The market was plunged into darkness on Wednesday October 13 due …

The Bank of Ghana (BoG) has said it has identified a money doubling scheme operating in Ghana under the pseudo name “Worldremit”. This fraudulent scheme, according to the central bank, is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers. This scheme encourages …

Private commercial road transport operators and the Ghana Private Road Transport Union (GPRTU) have threatened to increase fares if government does not meet their demands to remove or reduce some taxes on petroleum products. The key stakeholders in the commercial road transport industry have expressed disappointment in the government “for …

President Akufo-Addo has granted approval for the removal of the Price stabilisation and Recovery levies on petrol, diesel and LPG for two months, the National Petroleum Authority (NPA) has said. The approval follows the advice of the NPA to the Minister of Energy to seek the government’s intervention to mitigate …

Minister for Trade and Industry, Alan Kyeremanten, has indicated that the implementation of African Continental Free Trade Area (AfCFTA) cannot be optimized without the involvement of engineers. He said this at the opening of the 7th edition of Africa Engineering Week and the 5th Africa Engineering Conference in Accra on …

Workers of the Northern Electricity Distribution Company NEDCo and the Volta River Authority (VRA) in Tamale have partially restored their services following attacks on it’s offices by some residents.   The staff of NEDCO totally withdrew their services over concerns of safety, leaving most of the metropolis without electricity for …

The Interim Management Committee of the Tema Oil Refinery (TOR) says it has interdicted some staff for their involvement in the alleged theft of ¢10.4 million worth of cables. Describing it as unacceptable product losses, TOR said the thievery was discovered as a result a Technical and Human Resource audits. …

The Finance Ministry has dismissed rumours that Finance Minister Ken Ofori-Atta has resigned from his post.     It comes after speculations on social media that Mr Ofori-Atta has resigned over ill health.   In a statement, the ministry said the Finance Minister is still at post and focused on …

The Asantehene, Otumfuo Osei Tutu II, has endorsed Rocksure International as the strategic partner of the Ghana Integrated Aluminium Development Corporation (GIADEC), selected to implement Project 2:- development of a mine at Nyinahin-Mpasaaso and a refinery solution. At a courtesy call on Otumfuo Osei Tutu II, at the Manhyia Palace …

  The Governor of the Bank of Ghana has announced that the GHC 1 and the GHC 2 commemorative notes would soon be phased out from the system.   According to the Central Bank, the poor handling of the notes, that is torn and soiled, make it expensive to print …