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Electroland opens new premium showroom at Spintex

One of the country’s electronic distribution giants, Electroland Ghana Limited has opened a new premium showroom in Accra to bring its products closer to consumers. The company, which has about 15 direct branded and 10 franchised showrooms across the country has its new outlet located on the Spintex road. Speaking at the opening ceremony, Mr. Mark Badu Aboagye, Chief Executive …

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Parliament endorses GH¢73 billion financial request from Government

Parliament on Thursday granted a request by the Government of Ghana to withdraw over GH¢73 billion from the Consolidated Fund and other government funds to finance development projects. This follows the House’s approval, after a marathon motion debate on the 2019 budget and financial policy statement of government presented to the House by Finance Minister Ken Ofori Atta two weeks …

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Accurate data key to interventions in non-traditional export sector – GEPA

The Ghana Export Promotion Authority (GEPA) says accurate data is key to ensuring that decisions on strategic interventions to diversify the country’s export products and measure performance of its mandate are sound. In an address read on her behalf at a sensitisation workshop for freight forwarders, Ms Afua Asabea Asare, the CEO of GEPA, said data on non-traditional export statistics …

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Adopt electronic payment as a way of life – Dr Bawumia

The Vice President, Dr Mahamudu Bawumia, on Wednesday launched the Phase-Two of the Mobile Money Interoperability Payment System and urged Ghanaians to adopt electronic payment as a way of life. He said the nation had reached an era of electronic payment, therefore, there was no choice but to go with the tide in order to fast-track the transformation of the …

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Banks’ recapitalization impacts dividend payment to SSNIT

The Social Security and National Insurance Trust (SSNIT) has disclosed that most banks it is a shareholder in, have been unable to pay dividends for last year due to the increase in the minimum capital requirement. The Director General of SSNIT, Dr. John Ofori Tenkorang explains to Citi Business News this has also affected the Trust’s projections of investments in …

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Compensate Ghanaians from GH¢34 million telcos sanction fee – Omane Boamah

Former communications Minister, Dr. Edward Omane Boamah has called on government to use part of the GHC34 million sanction cost being demanded from telcos for poor quality service delivery to compensate Ghanaians who suffered the act. The former Presidential spokesperson is also urging the National Communications Authority (NCA) to be more engaging in their dealings with telcos than being swift …

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Baby Jet Airlines to begin operations in December

Black Stars captain Asamoah Gyan has revealed that the much awaited Baby Jet airlines would begin its operations in December should all things go as planned. The footballer cum businessman in an interview on Okay FM disclosed that 95% of work to get the Baby Jet airlines started has been done. According to him, he is expecting that his airline …

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Consolidated Bank has some tricky terms for investors

The country’s new state-owned lender is asking holders of more than 1.1-billion cedis in investments to accept lower rates and wait five years before accessing their cash, according to an industry body for fund managers and brokers. Consolidated Bank Ghana, which was formed in August through a merger of five failed lenders, will issue institutional investors five-year bonds yielding 7.5% …

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Public debt up by GHC11bn in 2 months to reach GHC170.8bn

The country’s total debt stock witnessed a significant increase in two months ending September 2018 as it went up by GHC11 billion to GHC170.8 billion, according to data released by the Central Bank. The last time the Bank of Ghana (BoG) released its economic and financial data, it put the total debt stock ending July 2018 at GHC159.4 billion. Breakdown …

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NPP, NDC MPs clash over budget

The debate on the 2019 Budget Statement and Economic Policy of the government took off yesterday in parliament with the majority New Patriotic Party (NPP) and the minority National Democratic Congress (NDC) fiercely battling out on whose government is more incompetent or competent. The majority NPP led by the Chairman of the Finance Committee and MP for New Juaben South, …

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