28.2 C
Accra
Monday, October 2, 2023
NEWSPAPER

Business

HomeBusiness
Business

China, Europe, other countries to import cashew from Ghanaian company

Plant Manager of Bui Cashew Limited, Wu Yun Ling, has disclosed that the factory's products will be distributed to the global market, encompassing China, the United States, and Europe. Furthermore, he emphasized that residents...
Business

Ghana ranks second in Africa for mobile money services growth – Report

Ghana has secured the second position in Africa for the growth of mobile money services, following Côte d’Ivoire, as revealed in the 2023 Oxford Economics Africa's Report titled "The Africa Risk-Reward Index." This noteworthy...
Business

COPEC projects no change in petrol prices in October first pricing window

The prices of petroleum products are expected to stay steady throughout the month of October. Projections from the Chamber of Petroleum Consumers (COPEC) indicate a possible one percent increase at the pumps. However, oil...
Business

CIMG urges govt to appoint marketers to revive ‘dead’ SOEs

The Chartered Institute of Marketing Ghana (CIMG) is advocating for the appointment of marketing professionals to take the lead in revitalizing underperforming state-owned enterprises (SOEs). As part of this initiative, the CIMG has initiated...
Business

Chocolate prices risk hike if cocoa harvest in Africa becomes a challenge

Chocolate prices could continue to rise if the new cocoa harvest in West Africa disappoints. Cocoa prices have surged by approximately 47% in the past year due to concerns about adverse weather conditions and...
Business

BOST clarifies ‘misinformation’ in purchase of iPhones for top executives

The Bulk Energy Storage and Transportation Limited Company (BOST) has refuted claims that it acquired iPhones worth ¢28.541 million for certain essential personnel within the organization. In an official statement issued by the company, it...
Business

Impose fines on waste management firms for delays in disposing trash – Minister urges MMDAs

Minister of Sanitation and Water Resources, Dr. Freda Akosua Prempeh, has called upon metropolitan, municipal, and district assemblies (MMDAs) to strengthen their local regulations in a way that allows them to levy fines on...
Business

A ball of kenkey selling at GHS6.56 in East Legon – Report

A new data by The Kenkey Index, the worst value of kenkey as of September 30, 2023, is GH6.56 at East Legon. According to the study, the best price for Kenkey in La was...
Business

Govt turned to IMF because Akufo-Addo’s economy was falling – Alan Kyerematen

Former Trade and Industry Minister Alan Kwadwo Kyerematen stated that Ghana had no choice but to seek assistance from the International Monetary Fund. He claims that because Ghana's debt levels had surged and the country's...
Business

Menzgold customers cry out to Mahama over death of 217 due to locked-up funds

The leadership of customers affected by the now-defunct Menzgold Company Limited has approached former President John Mahama, seeking his assistance in recovering their funds that remain locked within the illicit gold dealership and investment...
Business

Customers of Menzgold calls on Mahama’s intervention to recover locked-up funds

A group of investors who had put their money into the now-defunct Menzgold Company Limited has reached out to former President John Dramani Mahama for assistance in recovering their locked-up funds from the illegal...
Business

BOST buys iPhones worth GHS284,400 for 18 top executives

Bulk Energy Storage and Transportation Limited Company (BOST) has issued a clarification regarding the cost of acquiring 18 iPhones in May 2022, following reports circulating in certain media outlets. In a statement dated September 30,...
Business

Merging of ADB, NIB will result in loss of 800 jobs – NDC

The Minority in Parliament has claimed that the government's decision to merge the National Investment Bank and the Agricultural Development Bank (ADB) will result in the loss of numerous jobs. According to Isaac Adongo, Member...
Business

Minority seeks restructuring to save NIB

The Minority Caucus of the National Democratic Congress (NDC) in Parliament has made a call on Thursday for the government to undertake a substantial overhaul of the reportedly struggling National Investment Bank (NIB) in...
Business

Coconut becomes key commodity elevating Ghana’s presence on global market

Dr. Efua Asabea Asare, the Chief Executive Officer (CEO) of the Ghana Export Promotion Authority (GEPA), has disclosed that Ghana's strategic focus on investing in and nurturing the coconut industry has firmly established the...
Business

GREDA advises government to keep away from housing development

The Ghana Real Estate Developers Association (GREDA), representing property developers, is calling on the government to reconsider its strategy for affordable housing projects involving its members. GREDA pointed out that the government's direct involvement in...
Business

ILO lauds GMA for promoting decent working conditions in fishing sector

The urgency to improve the living and working conditions of Ghanaian fishermen on fishing vessels abroad has become increasingly evident. Many Ghanaian fishermen face inadequate training, low wages, and harsh working conditions, rendering the...
Business

50 customs prevention officers complete training program

46 men and 4 women from the Customs Division's Preventive Unit at the Ghana Revenue Authority have completed a 3-week counter-terrorism training program at the 64 Infantry Regiment Training School in Asuatuare. This brings...
Business

GRA to broaden tax compliance procedures to generate essential income for development

The Ghana Revenue Authority (GRA) has announced its intention to expand its tax compliance measures to generate the necessary revenue for development. To identify tax infractions by companies or customers, the GRA has utilized...
Business

Guinness Ghana declares a dividend of 0.016 per share to shareholders

Guinness Ghana Breweries Limited (GGBL) has declared a dividend of ¢0.016 per share for the fiscal year ending on June 30, 2023. This dividend declaration is contingent upon approval by shareholders during the upcoming...
Business

MoMo: ‘We apologise for the intermittent challenges’ – MTN to customers

The telecommunications company MTN has issued an apology for the intermittent difficulties users have encountered when attempting to access mobile money services. In a post on Twitter on September 29, the company acknowledged that...
Business

A barrel of oil hits $95 as inventories shrink

The US oil benchmark briefly surged to $95 per barrel due to concerns over decreasing stockpiles at a crucial storage hub, which raised worries about a global drop in crude oil supplies. West Texas Intermediate...
Business

ORC software application restored

The Office of the Registrar of Companies (ORC) has successfully restored its software application system, which had been temporarily offline since September 25, 2023. This development follows the ORC's previous announcement regarding the temporary shutdown...
Business

National Security to revise strategy to preventing terrorist attacks in Ghana – Expert

Security Policy Expert, Anthony Acquaye, affiliated with the Centre for Security Dialogue and Peace Advocacy, has urged the Ministry of National Security to adopt a proactive strategy in preventing potential terrorist attacks within the...
Business

Mobile money transfers across networks to come at a cost from October 3 – Vodafone

Vodafone Ghana has notified its customers that starting from October 3, 2023, it will introduce a fee for cross-network mobile money transfers. However, the company has not disclosed the specific rate for this fee...
Business

NIB was managed from Canada via zoom for a year – Adongo alleges

Member of Parliament representing Bolgatanga Central, Isaac Adongo, expressed deep concern over the National Investment Bank's (NIB) financial crisis, attributing it to inadequate oversight. He cited an instance where the bank's Managing Director, Samuel Sarpong,...
Business

5 business executives arrested by Data Protection Commission over privacy violations

In a coordinated effort between the Ghana Police Service and the Data Protection Commission, five business executives have been apprehended for violations related to data privacy. The arrests took place at various locations, including Care...
Business

Parliament to have no hand in controversial GNPC loan – Adongo

In Parliament, the Minority is sounding a cautionary note to the management of the Ghana National Petroleum Corporation (GNPC). They are advising against seeking approval for a $431 million loan facility. The concern raised by...
Business

Minority strongly opposes handing over NIB to ADB due to financial dificulties

The Minority in Parliament, has strongly opposed the Bank of Ghana's (BoG) proposal to transfer control of the National Investment Bank (NIB) to the Agricultural Development Bank (ADB). According to the NDC MPs, this move...
Business

GRA to increase tax compliance initiatives to generate needed income for development

The Ghana Revenue Authority (GRA) has announced its intention to expand its tax compliance measures to generate the necessary revenue for development. To identify tax infractions by companies or customers, the GRA has utilized...
Business

Ghana’s debt stock rises to GHC575.5 billion

Ghana's debt has reached GHS 575.5 billion, which is equivalent to 71.9% of the Gross Domestic Product (GDP), according to the Bank of Ghana (BoG) as of the first half of 2023. This represents...
Business

NPP will die, it’s just a matter of time – Dr. Amoako Baah

Political Scientist Dr Amoako Baah has pronounced doom on on the current government, the National Democratic Party (NPP), saying it will soon hit the rocks. He expressed his view that the party is presently under...
Business

Ghana’s plans for energy sector captured in new national policy

The government has introduced a comprehensive National Energy Policy aimed at reshaping the country's energy sector to support its economic development objectives. This extensive policy, which received cabinet approval earlier this year, encompasses various aspects...
Business

Ghana, China trade at a record-high level of $10.2b

Ghana-China trade  to hit a record-high level of US$10.2 billion in 2022, up from US$6.67 billion in 2017. More crucially, Ghana's exports to China surged by 60% last year, according to the Chinese Ambassador to Ghana,...
Business

Oil Marketing Companies call on NPA to address surge in Chinese tanker trucks

The Association of Oil Marketing Companies (AOMC) has urged the National Petroleum Authority (NPA) to address the increasing presence of Chinese oil haulage trucks in the downstream sector and clarify that the transportation of...
Business

GHS300m to be invested into Ada-Songor salt project by MIIF

The Minerals Income and Investment Fund (MIIF) is contemplating an investment of GH₵300 million in the Ada-Songor Salt project, which is operated by Electrochem Ghana Limited, a subsidiary of the McDan Group of Companies. This...
Business

Twellium and Nutrifoods in locked in battle over trademarks

The intense competition within the local biscuit industry has escalated into a fervent legal battle between the industry's top contenders, Twellium Industrial Company Ltd, known for their Mcberry Biscuits, and Nutrifoods Ghana Ltd, as...
Business

Ghana’s trade with China surged to $10.2B in 2022 – Chinese Ambassador

In 2022, the trade relationship between Ghana and China achieved an unprecedented milestone, reaching a record high of US$10.2 billion, compared to the 2017 figure of US$6.67 billion. What's even more noteworthy is that...
Business

John Jinapor expresses concern over presence of oil tankers in Ghana by Chinese firm

Deputy Energy Minister, John Jinapor, has engaged in discussions regarding the loading and unloading of petroleum products by the Chinese company Sentuo Oil Refinery. He questioned, "Why would a Chinese company bring in 300...
Business

Trial begins for Blogger, IT Pro accused of inciting panic among dollar account holders

The trial of a blogger and an information technology professional, accused of inciting panic leading to withdrawals from dollar accounts in 2022, has commenced in an Accra Circuit Court. Both have pleaded not guilty to...
Business

Drop in cocoa syndicated loan affecting banking confidence – Bright Simons

Bright Simons, the Vice President of the policy think-tank IMANI-Africa, has asserted that the decrease in Ghana's cocoa syndicated loan amount does not reflect prudence on COCOBOD's part but rather signals a decline in...
Business

$3m worth of drones allocated by govt to combat galamsey not efficient

It has been claimed that the drones purchased by the government to monitor galamsey activities in the country have become a white elephant. According to a tweet by Ghana Mu Nsemsem and seen by GhanaWeb...
Business

GOIL targets West African bitumen market for expansion

GOIL PLC is preparing to enter the West African bitumen market by introducing innovative products, including polymer-modified bitumen (PMB) and bitumen emulsion. This move is part of the company's ongoing diversification efforts. GOIL started...
Business

Close to 1.8m Ghanaians secure jobs through coconut industry – Kwaku Boateng

Executive Director of the African Coconut Group, Kwaku Boateng, has reported that approximately 1.8 million Ghanaians have found employment within the coconut sector. This initiative aims to address the significant youth unemployment issue in...
Business

A dollar goes for GHS11.65 at forex, BoG interbank rates at GHS11.08

Today, September 27, 2023, the Bank of Ghana's Interbank forex rates reveal the following currency exchange figures: the Ghana Cedi is trading against the US Dollar at a buying price of 11.0736 and a...
Business

DDEP: Govt obtains GHS3.9b in relaunched bid

The Ministry of Finance has announced the successful acquisition of GH¢3.9 billion through its recently reopened domestic debt exchange initiative. The application window for this program closed on September 22, 2023. In an official statement,...
Business

Middlemen caught charging GHS1,600 for passport in Central Region

Despite recent public outrage from the Minister of Foreign Affairs over corruption in passport application centers, middlemen referred to as 'Goro boys' are thriving at the Cape Coast Passport Office. These individuals, in collaboration...
Business

Alan Kyerematen faults Ofori-Atta for Ghana’s economic woes

Former Minister of Trade and Industry, Alan Kyerematen, has shifted blame for the country's current economic challenges to the Minister of Finance, Ken Ofori Attah. Alan, who resigned as Trade Minister earlier this year to...
Business

12 businesses found guilty of VAT infractions by GRA

Section 41 of the Value Added Tax Act stipulates that businesses must consistently issue VAT invoices, and failure to adhere to this requirement constitutes a violation of the law. However, some businesses in Ghana are...
Business

US$620m loan from LITASCO to GNPC yet to be approved by parliament – Energy minister

The planned US$620 million loan from Lukoil International Trading and Supply Company (LITASCO) SA to the Ghana National Petroleum Corporation (GNPC) will be forwarded to parliament for consideration next month, according to the Ministry...
123...415Page 1 of 415

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Must read

About us

The Independent Newspaper originally came into existence on March 6, 1989, with a very active news website now, theindependentghana.com

Company

The latest

Being the richest won’t make you president, look at Bill Gates – Ash. Reg. Minister to Ken Agyapong

News
The Ashanti Regional Minister, Hon. Simon Osei-Mensah, has offered...

Sarkodie to host The Rapperholic rebirth at Grand Arena

Entertainment
Ghana's renowned rapper, Sarkodie, has exciting news for his...

Ronaldo’s move to Al Nassr, a ‘brilliant’ one – Salazar

Sports
Al Nassr football executive manager Marcelo Salazar has spoken...

© 2023 The Independent Ghana. All Rights Reserved.