Home Business

Business

Banking, Finance and Investment

Days after the Vice President, Dr Mahamudu Bawumia, hinted of Government’s desire to place a cap on Ghana’s fiscal deficit as a percentage of Gross Domestic Product (GDP), Cabinet has given its approval for the submission of the appropriate legislation to Parliament to amend the relevant law. The proposed amendment...
Private businesses in Ghana thrive the “most” under the National Democratic Congress, former President John Mahama has stated. He said claims that the opposition party, which is socialist in orientation, is against business are false and misleading. Speaking at the first enrollment ceremony at the NDC’s ideological Institute in Accra, Mahama...
At least 17,000 public sector workers are yet to receive their April 2017 salaries for non-biometric SSNIT registration. A statement from the Finance Ministry and copied to otecfmghana.com said about 9,300 out of the over 26,000 affected workers have been paid after successful validation. According to the Finance Ministry, the payments...
A Tamale Circuit Court has issued bench warrant for the arrest of two residents of Zogbeli and Lamakara in the Tamale Metropolitan Area for allegedly assaulting staff of the Northern Electricity Distribution Company (NEDco). The accused persons, Iddrisu Ibrahim and his accomplice only identified as Coolio have been accused of...
The Ghana Psychological Association (GPA) has expressed concerns over the revocation of banking licenses of UT/Capital Banks by the Bank of Ghana. In a full text of a four-paged document signed by Mr Richmond Acquah-Coleman, the Public Relations Officer of the association, the psychologists expressed dissatisfaction at the processes leading...
Figures by the Ghana Export Promotion Authority (GEPA) have shown that export earnings from the Agricultural subsector for 2016, dropped by 6.49%. Export earnings for 2016 is estimated at 371 million dollars compared to an estimated 396 million dollars recorded in 2015. Agric exports however contributed 15% to the total non-traditional...
Fifty-seven oil marketing companies (OMCs) have been sanctioned by the Ghana Standards Authority (GSA) for engaging in various infractions detrimental to the interest of consumers. All the affected OMCs are in the Greater Accra Region. They were fined a total of GH¢261,000 for serving customers with lower volumes of fuel,...
The Institute of Energy Security has said fuel prices are likely to go up by 2% from December 16 to December 31, 2016 per the second pricing window. Speaking to OTEC NEWS', Principal Research Analyst at the Institute of Energy Security, Richard Rockson said consumers should brace themselves for an...
The Ghana Cocoa Board said the purchase of the 2016/2017 Main Crop Cocoa Season would cease at the close of business on Thursday, May 18, 2017. This was in a statement issued by the Chief Executive Officer of COCOBD and copied to the Ghana News Agency on Sunday. It said in...
Parliament has approved a loan facility of 1,300,000,000 dollars, an equivalent of 5.850 billion cedis, for the purchase of cocoa beans. Presenting the report of the Finance Committee to Parliament, the Chairman Mark Asibey Yeboah told the house that the 1.3 billion dollars trade finance facility is to assist COCOBOD...