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Tag Archives: Ghana Business News

Govt to revamp abandoned affordable houses at $51m

Samuel Atta Akyea 2

Government has secured funding to tune of 51 million dollars which is to help it revamp all abandoned affordable housing units in the country. About two thousand housing units are expected to be revamped for them to be occupied. According to Works and Housing Minister, Samuel Atta Akyea, the move will commence with those started by former President John Kufuor ...

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SEC stops guaranteed returns in capital market

Daniel Ogbarmey Tetteh

The Securities and Exchange Commission (SEC) has asked all Fund Managers to stop offering guaranteed returns on investment to their clients. The directive which has been in effect since July, is among the numerous interventions to sanitise the industry and protect the integrity of the capital market. The Director General of the SEC, Daniel Ogbarmey Tetteh explained that his outfit ...

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GCB expands international operations

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GCB Bank Limited has stated that it is expanding its operations to other countries. The Deputy Managing Director of the Bank in charge of Operations, Mr Samuel Amankwah who disclosed this said: “As a forerunner, GCB is establishing and deepening correspondent banking relationship with Sierra Leone and Liberia in West Africa.” In 2017, GCB Bank and Attijariwafa Bank Group (AWB), ...

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Investment market to get new cyber security laws

Daniel Ogbarmey Tetteh

The Securities and Exchange Commission (SEC) has told Citi Business News it will within the coming months, issue new directives that will deal with cyber fraud cases within the investment market. The Director General of the SEC, Daniel Ogbarmey Tetteh explains that the exercise is to reduce the amount of money lost to the crime and protect the information of ...

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Use 2019 budget to boost tax revenue – IFS to gov’t

Executive Director of IFS - Prof. Newman Kusi

Executive Director of the Institute for Fiscal Studies, Professor Newman Kwadwo Kusi has advised government to review the tax systems in the upcoming budget in order for government to realize more revenue for the country. The budget has been scheduled to be read on the 15th of November, 2018. Professor Kusi argues that the move to increase tax collection is ...

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Dr. Amin Adam leads Ghana’s transparency drive in extractive sector

Dr. Mohammed Amin Adam - Deputy Minister of Energy

The Minister of Finance, Ken Ofori Atta, has appointed Deputy Minister of Energy, Dr. Mohammed Amin Adam has been appointed as Ghana’s Champion for Extractive Industries Transparency Initiative (GHEITI). He is to lead the implementation of the EITI in Ghana. The appointment of Dr. Mohammed Amin Adam is in fulfillment of requirements of the Extractive Industries Transparency Initiative (EITI) standards. ...

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NPA stops over 90% of fuel diversions

Hassan Tampuli - CEO, NPA

The National Petroleum Authority (NPA) has disclosed that it has curbed over ninety percent of illegal diversion of fuel over the past one year. As a result, petroleum product exports to neighbouring countries have reduced from 30 to two million litres between August last year and the same period this year [2018]. The CEO of the National Petroleum Authority, Hassan ...

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BoG Governor hopeful of further drop in interest rates

Governor of BoG, Dr. Ernest Addison

The Governor of the Bank of Ghana, Dr. Ernest Addison has disclosed that interest rates will drop further when external pressures on the economy decline. The central bank has kept its policy rate unchanged at 17 percent, for two consecutive times this year. The move is anticipated to increase access to capital by businesses as commercial banks are expected to ...

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#GITEX2018 in pictures

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The annual edition of GITEX Technology Week came off from October 14 to 18, 2018. The event took place in Dubai in the United Arab Emirates (UAE). According to organizers, GITEX 2018 presented the largest regional IT exhibition with a more significant role in 2018 than ever before. The event also defined latest trends, presented high caliber speakers & showcased ...

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Consumer spending in IT to reduce in 2019

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Spending in the telecom and ICT industry is expected to see some amount of dip next year, 2019. The International Data Corporation which is a global ICT research and consultancy services firm, projects that the experience will be across the board including inventors and consumers. Data from the IDC on spending on IT in Ghana for instance show that in ...

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