Business

Business

COVID-19: Republic Bank defers loan repayment for customers for 6 months

Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited (RFHL), has become the first bank to announce a deferment in the repayment of loans by its customers. The loan repayment deferment for customers and staff of the bank is for a maximum period of six months, and is in response to the COVID-19 pandemic. […]

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Business

ECG introduces new code

As part of efforts to enhance its activities, the Electricity Company of Ghana (ECG) has introduced a new short code. The code *226# is to help its non-smartphone users to recharge their prepaid credit digitally. The Managing Director of ECG, Mr Kwame Agyenim-Budu, at the launch of the new code in Accra on Tuesday, 18 […]

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Business

Absa to remain significant Tier-1 bank

Absa Bank will remain a significant player in the Ghanaian banking industry. Absa which until this morning was Barclays is a top-notch tier one bank. According to the Managing Director of the Bank, Abena Osei-Poku, her outfit which has been the most profitable in the industry for the past three years, is a major financier […]

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Business

NDC’s financial records unmatched – Terkper

A former Finance Minister under the erstwhile John Mahama-led administration, Seth Tekper, has said that the financial performance and records of the former government are unmatched.  According to him, Mr Mahama’s administration exhibited prudent financial management compared to the current government, as records are there to show. Mr Terkper noted that the programmes being implemented […]

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Business

How Airbus paid bribes for the sale of military aircrafts to Ghana in 2009, 2015

According to documents released by a UK Court, it has emerged that some top representatives from government of Ghana under the Mills-Mahama administration took bribes from the world’s largest airliner manufacturer, Airbus between 2009 and 2015. UK prosecutors said that Airbus employees promised success-based commission payments of approximately €5 million euros to bribe government officials […]

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Business

ESLA records 17.6m profit in 2019

The Energy Sector Levy (ESLA) Plc recorded a profit of GHS17.6 million in 2019. This is however lower than the GHS33 million recorded in 2018. The decline in profit was due to a GHS416 million bad debt recorded in the books. According to its unaudited 2019 Financial Statement, earnings per share however drop from GHS33.06 […]

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Business

Give preference to Ghanaian companies – Akufo-Addo to AngloGold

President Nana Addo Dankwa Akufo-Addo has expressed his delight at the return to production, productivity, and profitability of Anglogold Ashanti’s Obuasi gold mine six years after it was closed down and urged the miner to give preference to Ghanaian companies in its operations. In line with the agenda of the government to enhance local content […]

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Business

Moody’s rates Ghana’s economic outlook positive from stable; affirms B3 rating

Rating agency Moody’s has affirmed the government of Ghana’s long-term issuer and senior unsecured bond ratings at B3 and changed the outlook to positive from stable. It has also concurrently affirmed the rating of the bond enhanced by a partial guarantee from the International Development Association (IDA, Aaa stable) at B1. The decision to assign […]

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Business

Stocks slide as global markets fret over virus, S & P warns China economy to slow

Global stocks plummeted at the close of trading before weekend on the back of broad-based losses amongst global markets due to concerns over the spread of the virus which emanated in China. With one case having been reported in the USA, there are concerns that the virus could have an impact on the movement of […]

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Business

Nana gets £326m from UK

Ghana is set to draw 326 million pounds sterling from the coffers of the British government for major infrastructural developments across the country. One of the beneficiary projects of the investment funds is a £120 million export contract which would see the Komfo Anokye Teaching Hospital upgraded. A £40 million Contracta Construction UK deal has […]

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