Monday , 10 December 2018
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Government developing special enclave for pharmaceutical companies

Government has announced it is developing a dedicated enclave at Ejisu in the Ashanti Region to serve as a pharmaceutical hub in Ghana as government set out to ensure that at least 10 local pharmaceutical companies to provide world class standards. The enclave, according to the Ministry of Trade and Industry, will be a part of the 5000-acre Greater Accra-Kumasi …

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High public debt, rapidly depreciating currency will not be feature in my gov’t – Akufo-Addo

President Akufo-Addo has given captains of industry the firm assurance of a sound business environment in Ghana. Delivering his keynote address at the 7th AGI Ghana Industry and Quality Awards, the president assured that a “high budget deficit, erratic power supply” coupled with the high cost of doing business among other constraints will not feature in his administration. “One thing …

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AngloGold Ashanti increases gold production to surpass 250,000 oz per annum

AngloGold Ashanti Iduapriem will for the first time in its history increase its gold production for 2018 to surpass a 250,000 oz per annum. This compares favourably to the actual production of 214,000 oz and 228,000 oz for 2016 and 2017 respectively. The mine has ambitious yet realistic plans to increase production to above 270,000 ounces for the 2019 financial …

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Energy Bank engages strategic investors to meet capital requirement

Energy Commercial Bank is presently in discussions with some strategic investors to acquire a stake in the bank through a private placement in order to meet the Bank of Ghana’s minimum capital requirement of GHS400 million. The discussions are expected to be completed soon to enable the bank recapitalize to the tune of GHS400 million by the December 31, 2018 …

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Bailing out victims of financial scams sends bad signals – Prof Quartey

Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has cautioned government against bailing out customers of financial scams in the country. According to him, government’s decision to pay customers of DKM for the losses they incurred when the company collapsed, will only embolden other victims of similar scams to demand for help …

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Tullow estimates Ghana oil production to go up to 180,000 barrels next year

Tullow-Ghana’s drilling program is targeting a significant growth production from around 147, 000 barrels to 180,000 in 2019. The company was working to strengthen and grow its business in Ghana by tapping into additional exploration opportunities. Mr Kweku Awotwe, the Managing Director of Tullow- Ghana, told the media in Takoradi that undrilled prospects and leads have been identified within the …

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Ghana Deposit Protection Act will rebuild confidence in the banking sector – PwC Director

The Director for Pricewaterhousecooper, Kingsford Arthur has suggested that one of the ways the Bank of Ghana can restore the confidence of Ghanaians in the banking sector is by ensuring that the Act on establishing Ghana Deposit’s insurance scheme is fully complaint with the International Association of Deposit insurer principle. The Ghanaian Deposit Protection Act complaint with international Association of …

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Don’t touch free zones – Sam George to GRA

The Member of Parliament for Ningo-Prampram, of the opposition NDC, Hon. Sam George, has issued a stern warning to the Ghana Revenue Authority (GRA). The MP is asking the GRA to stay away from taxing free zones enterprises as part of its familiar ‘Oliver Twist’ ventures in raking more taxes. He also argued that there are several ways the GRA …

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Government introduces integration project ahead of lifting of ban on small-scale mining

In preparation towards the lifting of the ban on artisanal and small-scale mining operations, the Lands Ministry is planning to roll-out the Multi-Sectoral Mining Integrated Project (MMIP). Land Minister, Kwaku Asomah-Cheremeh, said the project will hinge on three main pillars: statutory enforcement, social interventions and technological adaptations. Addressing the media during a Meet The Press session in Accra Tuesday, he …

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Ghana to stop rice imports soon – Agric Minister

The Minister of Agric, Dr. Owusu Afriyie Akoto has stated that his outfit is working to reduce drastically, if not stop the import of rice within the next four to five years. It follows the success chalked as the country did not import maize between January and September this year due to increased local maize production. The country spends about …

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