• 2 weeks Here’s how much telecommunication networks in Ghana contribute to the economy Pulse -Biz
    <p class=""> A total tax contribution (TTC) survey by the Ghana Chamber of Telecommunications has shown significant contribution of the telecom sector towards Ghana’s economic growth</p> <p class="">According to the Chamber, the sector’s total taxes and payments to government amounted to GHC2.2 billion in 2018.</p> <p class="">The Chamber used a total tax contribution methodology to measure total cash payments for business operations by its members over the period.</p> <p class="">Tax components include corporate income tax, Value Added Taxes, Communication Service Tax, withholding taxes, and Import duties and other surcharges, and social security contributions.</p> <p class="">The total contributions of GHC 2.2 ... more
  • 2 weeks Year of Return: Ghana secures $14million from World Bank to develop tourist sites Pulse -Biz
    <p class="">The government of Ghana has secured some $14million deal from the World Bank to develop tourist sites across the country.</p> <p class="">This, according to the Tourism Authority, it to help prepare adequately for the ‘Year of Return’ agenda in December this year.</p> <p class="">The Chief Executive Officer of the Ghana Tourism Authority, Akwesi Agyeman said this while he spoke in an interview with Accra based 3FM.</p> <p class="">He noted that a number of tourist sites in Ghana need to be upgraded as part of efforts to develop tourism in Ghana, hence the support from the World Bank.</p> <p class="">“Currently ... more
  • 2 weeks Harlequin Oil & Gas Wins AGI, GSA Prestigious National Quality Award ModernGhana -Biz
    Accra, 2nd December 2019 - Harlequin Oil and Gas Limited was adjudged the winner of the National Quality Award, Diamond (Non-Food) Category, one of the main awards, at the 8th Association of Ghana Industries (AGI) Ghana Industry Quality Awards held at the Accra International Conference Center (AICC) over the weekend. The company was presented with a plaque by Mr. Humphrey Karkeh, a member of the AGI planning committee amidst pomp and pageantry, in recognition of company rsquo;s ... more
  • 2 weeks We Need More 4G Spectrum Already—Vodafone ModernGhana -Biz
    It has been barely six months since Vodafone Ghana launched its 4G network, but the telco said they already need more 4G spectrum because customers are hungry for more. Vodafone was the second telco to launch 4G in Ghana on the back of a 2 times;5MHz spectrum lot in the 800MHz band, which they acquired at a reported US$30million. Speaking with visiting executives of the Network of Communication Reporters (NCR), Vodafone Ghana CEO, Patricia Obo-Nai said they even spent more mon ... more
  • 2 weeks Karpowership Bags 2 Awards At Sustainability And Social Investment Awards 2019 ModernGhana -Biz
    Karpowership Ghana Company Limited has been adjudged best Company in Education Sustainability Programme at the just ended 2019 Sustainability and Social Investment Awards held in Accra. The company was also awarded Best Company in Project providing Educational Facilities. The Corporate Communication Specialist of Karpowership Ghana, Sandra Amarquaye, said the awards showcase Karpowership commitment to Society. ldquo;At Karpowership we operate with our One World Philosophy ... more
  • 2 weeks MTN Apologises Over Data, Call Services Wahala ModernGhana -Biz
    MTN Ghana has stated that it is working to fix problems customers faced trying to purchase data bundles, hours after the country 39;s largest mobile network operator introduced new data packages. The company posted on its social media channels, ldquo;MTN has experienced some challenges on some of our channels post-implementation of the adjustment of prices and our new data bundles. rdquo; MTN said it was working to get the challenges fixed. some customers of the company ... more
  • 2 weeks We Acted Professional In GUTA, NUTAG Tensions – Police ModernGhana -Biz
    The Nima Police in Accra has said officers dispatched to Tip-Toe lane near the Kwame Nkrumah Circle Interchange area on Monday acted professionally during the confrontation between Ghanaian and Nigerian traders. Hundreds of shops owned by Nigerians were locked up in a move by the Ghana Union of Traders (GUTA) to clamp down on foreigners engaged in retail business against Ghanaian laws. Police ended up arresting some six persons for allegedly pelting them with stones. The Nima Div ... more
  • 2 weeks Improve Supervision Of Mobile Insurance Market—Regulators Told ModernGhana -Biz
    Regulators of the Digital Finance and Mobile Insurance Ecosystem have been urged to improve their supervision role of the sector to protect consumers against the risk of fraud in order to intensify consumer-confidence in the industry. This was disclosed in a research report commissioned by GIZ in collaboration with the National Insurance Commission (NIC), Bank of Ghana (BoG) and Consultative Group to Assist the Poor (CGAP) on Information Disclosure and Transparency, Fraud, Customer Recou ... more
  • 2 weeks Applications for 2020 TEF entrepreneurship programme opens January 1 ModernGhana -Biz
    The Tony Elumelu Foundation (TEF) will begin accepting applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1. Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation. The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than three years of existence, operating in any sector. Successful appli ... more
  • 2 weeks TOR Secures Deal To Refine 11m Barrels Of Crude ModernGhana -Biz
    The Tema Oil Refinery (TOR) has secured a deal to refine crude oil for a local oil trading company and its international partner, after years of stop-start activity. Known as the tolling crude oil processing agreement, the contract requires the national refinery to process 11 million barrels of crude oil for the wholly-owned indigenous oil trader, Woodfields Energy Resources Limited, and its international partner, Vitol, the world 8217;s largest integrated energy firm. The Managing Direct ... more
  • 2 weeks Nduom Customers Want Assurance From Government ModernGhana -Biz
    Fears among aggrieved customers of defunct Gold Coast Fund Management have heightened over the feasibility of government's approach in dealing with affected clients of the company through a liquidation process. The customers are seeking an assurance from government, guaranteeing that the liquidation exercise would lead to the retrieval of all investment within the next few months, as they do not want the Dr Papa Kwesi Nduom owned company to write off its indebtedness to them as bad debt. T ... more
  • 2 weeks Introduction of new banknote denominations: Did the BoG get it wrong? ModernGhana -Biz
    Ghana, some say, is a very interesting country. But I say the interesting aspect depends on which lenses you have on to view national developments. Even though many have fondly accused Politicians as the ones who influence the Bank of Ghana, which is an independent institution, to either issue new banknotes or put more money in circulation, I will beg to differ. I think the central bank has enough technocrats and professional men and women who have in-depth knowledge of the economy and mus ... more
  • 2 weeks Vodafone Cash pre-Xmas bazaar excites customers ModernGhana -Biz
    Hundreds of Vodafone cash subscribers have yet again participated in one of the exciting pre-Xmas shopping experiences in Accra. The one-day cashless bazaar held at the forecourt of Vodafone Ghana Head Office on Friday offered customers heavy discounts on a variety of items. The periodic arts, fashion and food fair organized by Vodafone gives its Vodafone cash subscribers and the public an opportunity to shop from more than hundred carefully selected vendors, at massive discounts using Gha ... more
  • 2 weeks South Africa regulator tells Vodacom, MTN to lower data prices ModernGhana -Biz
    South Africa rsquo;s Vodacom Group and MTN Group could face prosecution if they do not agree with the Competition Commission in the next two months to lower data prices, the watchdog said in findings from an inquiry published on Monday. The data services inquiry was launched in August 2017 in response to a request from the minister of economic Development and after complaints from consumers about high data costs. In its final report, the Commission recommended that the two mobile operators ... more
  • 2 weeks BOGWorks At Reducing Lending Rates ModernGhana -Biz
    THE BANK of Ghana (BoG) says it is exploring new prudential and market conduct regulatory measures to help foster more competition in the banking sector and help lower lending rates. It said this has been necessitated by high operating costs of banks which stem from operational inefficiencies; inadequate disclosures of the risk premium factors in the cost of credit determination; the existence of high NPLs; and government's appetite for domestic borrowing. Such findings were contained in r ... more
  • 2 weeks OmniBSIC Bank holds maiden health walk ModernGhana -Biz
    As part of activities to complete its merger process, OmniBSIC Bank held its maiden health walk over the weekend. The event on the theme: lsquo; At your service rsquo; is to celebration the completion of the important milestone and promote good health among its staff and foster corporate bonding. Management, staff and customers walked through some principals streets of Accra, converged at the La pleasure beach and participated in aerobics. http://cdn.modernghana.com/images/conte ... more
  • 2 weeks Government gets Italy’s backing on Ghana Beyond Aid agenda ModernGhana -Biz
    The Italian Prime Minister has lauded the ldquo;Ghana Beyond Aid rdquo; agenda and assured his country rsquo;s readiness to support the West African country achieve that vision. Guiseppe Conte said Italy would provide the assistance for Ghana to implement her Planting for Food and Jobs (PFJs) and the One-District-One-Factory (1D1F) to achieve desirable results. Mr. Conte said this when he inaugurated a multi-million dollar Agri-Business Centre at Kyeremasu in the Dormaa Central Municipali ... more
  • 2 weeks Ghana to host World Shea Expo in April 2020 ModernGhana -Biz
    Ghana will host the maiden edition of the World Shea Expo to bring partners within the value chain such as processors, women pickers, farmers, researchers, aggregators, various associations, women groups and financial institutions. Slated for April 22 to 25 at Tamale in the Northern Region, the Expo is aimed at promoting the product and creating both local and international markets for businesses. It will be held on the theme: ldquo;Repositioning the Shea Industry to Accelerate Ghana rsqu ... more
  • 2 weeks Over 600 Nigerian Shops At Circle Locked Up Again ModernGhana -Biz
    Over 600 shops belonging to foreign traders mostly Nigerians at the Kwame Nkrumah Circle have been locked up by members of the Ghana Union of Traders Association (GUTA). This is not the first time GUTA members had embarked on such an exercise in their quest to rid the Ghanaian market of foreign traders who are engaging in retail. According to GUTA, government has failed to enforce Section 27 (1) of the GIPC Act, which bars foreigners from doing retail business. Some of the ... more
  • 2 weeks TOR Seal Deal To Refine 11million Barrels Of Crude  ModernGhana -Biz
    The Tema Oil Refinery (TOR) has signed an agreement to refine 11million barrels of crude. The agreement - a tolling crude oil processing agreement between Tema Oil Refinery and Woodfields Energy Resources Limited, a wholly Ghanaian-owned oil trading company, is backed by the world rsquo;s largest oil and gas trader. Woodfields Energy rsquo;s long history with the Refinery and knowledge of the energy business in Ghana and Africa led them to originate and lead this transaction. ... more
  • 2 weeks BoG Debunks Claims ‘New Notes Are Created For 2020 Elections’ ModernGhana -Biz
    The Head of Currency Management at the Bank of Ghana, John Gymafi, has debunked rumours suggesting that the introduction of the new higher Ghana Cedi denominations, has been done to fuel and fund the upcoming 2020 elections. Speaking on JoyFM rsquo;s Super Morning Show on Monday, John Gymafi said this is simply not the idea for why they introduced the new higher denominations. He explained that, the reason for the introduction is because higher denominations are in higher dema ... more
  • 2 weeks Global Knowledge Index 2019 Enables Governments To Fast-track Knowledge-Based Economies ― Say Experts ModernGhana -Biz
    The findings of the Global Knowledge Index 2019, unveiled at the sixth Knowledge Summit in Dubai, offer a roadmap for governments to fast-track their countries to strong, information-driven knowledge-based economies, said experts. A panel discussion at the Summit discussed the findings of GKI2019, a joint initiative between the United Nations Development Programme (UNDP) and the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF). MBRF rsquo;s CEO H.E. Jamal bin Huwaireb sai ... more
  • 2 weeks Kenyan e-commerce platform, Copia, raises $26 million as it moves to expand across Kenya, Africa Pulse -Biz
    <ul><li><strong>Copia offers mobile commerce services to low and middle-income consumers through local agents and a technology-enabled logistics service.</strong></li><li><strong>The six-year-old company says it will use the funding to expand across Kenya and other African countries.&nbsp;</strong></li><li><strong>The company serves over 180,000 consumers in rural Kenya.</strong></li></ul> <p class="">Kenyan e-commerce platform Copia has outdid itself and raised $26 million (KSh2.6 billion) in a Series B funding round led by LGT Lightstone. </p> <p class="">Copia, which offers mobile commerce services to low and middle-income consumers through local agents and a technology-enabled logistics service, is now looking to add new delivery points within the country. </p> <p ... more
  • 2 weeks Back with a bang: Air India returns to Kenya after a 10 year hiatus, domestic and international air passenger traffic on the rise Pulse -Biz
    ... more
  • 2 weeks Back with a bang: Air India returns to Kenya after a 10 year hiatus, domestic and international air passenger traffic on the rise Pulse -Biz
    <ul><li><strong>On Wednesday, Air India touched down at Jomo Kenyatta International Airport with 100 passengers on board to a warm welcome characterised by a water cannon salute.</strong></li><li><strong>Dr Betty Radier, Kenya Tourist Board (KTB) Chief Executive who was at hand to welcome the inaugural flight.</strong></li><li><strong>Air India will offer four direct flights a week between Mumbai and Narobi. </strong></li></ul> <p class="">After a 10-year hiatus, Air India is back on the Kenyan airspace.</p> <p class="">On Wednesday, Air India touched down at Jomo Kenyatta International Airport with 100 passengers on board to a warm welcome characterised by a water cannon salute.</p> <figure class="image" align="center"> <img ... more
  • 2 weeks BoG Sells $3.7million In Fifth FX Forward Sale ModernGhana -Biz
    Bank of Ghana (BoG) for the first time failed to sell the entire amount that targeted its Foreign Exchange Forward Sale. The Central Bank was expected to sell 25 through its FX Forward sale but only decided to give the investors and banks $3.7 million. Details of the November 26 fx forward results Based on the auction results, 51 bids submitted were looking for $43 million over 7 days, at a rate of not more than GH cent;5.11. However, the Bank of Ghana did not honour any of ... more
  • 2 weeks Banks Clean-Up: BoG Sanctions Complicit Staff ModernGhana -Biz
    The Bank of Ghana (BoG) says it has applied sanctions to its staff whose actions led to the banking sector distress. According to the governor, Dr Ernest Addison, this is part of an ldquo;accountability process rdquo; his outfit initiated into the corporate governance letdowns to ensure that everybody rendered individual accounts on their involvements. ldquo;There are lingering issues associated with bringing to book those who superintended over the corporate governance fail ... more
  • 2 weeks Bank of Ghana’s intends to gradually replace lower banknotes with coins, here’s why Pulse -Biz
    <p class="">The Bank of Ghana (BoG) has disclosed that it intends to gradually replace the country’s lower banknotes denominations with coins following the introduction of the new GH¢100, GH¢200 notes and GH¢2 coins.</p> <p class="">The move, according to the central bank, is to reduce the cost of printing.</p> <p class=""><em>“BoG will also embark on a vigorous campaign among road transport workers, market operators, small businesses, supermarkets, vendors and others to create avenues for the usage of the coins including developing infrastructures for coin usage,”</em> the Governor of the Bank, Dr Addison noted.</p> <p class=""><strong>Background </strong></p> <p class="">On Friday, November 29, ... more
  • 2 weeks Ghana Launching The e-Cedi Is No brainer – Innovation On Time ModernGhana -Biz
    Our Electronic Cedi At the 23rd National Banking Conference organized by the Chartered Institute of Bankers, the Governor of the Bank of Ghana, Dr Ernest Addison, said about the E-Cedi, ldquo;It is just electronic money backed by currency hellip; So cannot create money; they are only having an electronic representation of the cedi that the Bank of Ghana puts into circulation. So it is not crypto. rdquo; This is perhaps the most significant characteristic ... more
  • 2 weeks Ghana’s first website for coupons, promotions and free event deals launched ModernGhana -Biz
    Coupons Technologies, a budding Ghanaian tech startup has launched COUPONS.COM.GH, a web application for business owners to market their products and services through huge online discounts and promotions. The website allows business owners to create free listings for their places, upload pictures, add descriptions, contacts, and directions. E-coupons can then be created to run targeted promotional campaigns that drive new and returning clients to buy more products and services. How it w ... more
  • 2 weeks No Data, Money Lost In Circle Office Fire – GRA ModernGhana -Biz
    The Ghana Revenue Authority (GRA) says the Sunday inferno at its Kwame Nkrumah Circle office did not result in the loss of any data. In a statement, the GRA also said reports that it had lost cash in the fire was ldquo;fake news. rdquo; ldquo;Data is safe and no loss of cash or cheques have been recorded after a fire outbreak hellip; A formal assessment of the extent of damage is set to begin after a fire outbreak at VAT House, the Accra Kwame Nkrumah Circle substation of t ... more
  • 2 weeks No cash lost in headquarters annex inferno – Acting GRA boss ModernGhana -Biz
    The Acting Commissioner General of the Ghana Revenue Authority Amishadai Owusu Amoah has assured Ghanaians no cash got burnt during an inferno that gutted the headquarters annex of the Authority on Sunday. Firefighters spent more than 6 hours to fighting the fire that has completely ravaged the second floor of the building located near the Kwame Nkrumah interchange. The Ghana Fire Service has since said it will investigate the cause of the fire. http://cdn.modernghana.com/images/ ... more
  • 2 weeks Access Bank Ghana Holds Nationwide Walkathon To Deepen Fight Against Fistula ModernGhana -Biz
    Access Bank Ghana has held a day rsquo;s Walkathon across the country in furtherance of its commitment to funding the fight against Fistula in the country. The ldquo;Fist against Fistula rdquo; campaign, is part of the Bank rsquo;s larger objective to support Ghana in meeting the United Nation rsquo;s Sustainable Development Goals (SDGs) and in response to the high incidence of Fistula cases in Ghana. The 10-kilometer walk, signifying the Bank rsquo;s 10 year Anniversary celebration ... more
  • 2 weeks Sunu Group set to recapitalize within time frame set by NIC ModernGhana -Biz
    The Founder and Chairman of Sunu Group has expressed readiness to meet the new minimum capital requirement set by the National Insurance Commission. According to Pathe Dione, his outfit rsquo;s presence in 14 countries with 24 insurance companies among other subsidiaries is an indication of its financial strength. ldquo;I make the commitment that the SUNU Group will recapitalize the company within the time frame set by the regulator and that we are in Ghana to stay. rdquo; Mr. Dione said ... more
  • 2 weeks Textiles traders furious as Standards Authority enforces law to protect consumers ModernGhana -Biz
    The Ghana Standard Authority (GSA), has embarked on an inspection exercise to Makola and surrounding markets to clear off substandard textiles from the market as part of its mandate to provide quality assurance. Some shop attendants and owners upon seeing the GSA enforcement team, locked up their shops and took to their heels before the team could get to them. The Authority, also faced some level of resistance from the traders, who started chanting protest songs after the Authority took sa ... more
  • 2 weeks Ghana Gas, UBI Group CEOs emerge Energy Personalities of the Year ModernGhana -Biz
    The Chief Executive Officer of Ghana Gas, Dr Ben K.D Asante has been recognized as the Energy Personality of the Year at the Ghana Energy Awards 2019. The award was for his excellent performance in the country rsquo;s energy sector. Notable among his achievements was the transformation of the Ghana National Gas Company to become a major player in the power sector both locally and internationally. Dr. Asante, since 2017, initiated some policies including the maintenance of a balance shee ... more
  • 2 weeks Female mineworkers charged to take up leadership roles ModernGhana -Biz
    Corporate women in the country rsquo;s mining sector have been challenged to take up leadership roles. According to the General Secretary of the Ghana Mineworkers Union, Prince William Ankrah, opportunities offered women at the pinnacle of institutions have proven worthwhile. He said they can do even better than their male counterparts. ldquo;Special roles and positions were created for women to reach key positions without any hustle and the trend has, to a large extent, made our women fe ... more
  • 2 weeks New Banknotes Won’t Spike Inflation – Banking Consultant ModernGhana -Biz
    A Banking Consultant, Nana Otuo Acheampong, says he does not think the introduction of the 100 and 200 Cedi notes will contribute to any inflation as some have suggested. ldquo;We are not changing prices anyway hellip; if anything at all, it should have a positive or at worst a neutral effect on inflation but not increase inflation, rdquo; he opined on Eyewitness News. In Mr. Acheampong rsquo;s view, the new notes are rather a remedy to inflation following the ... more
  • 2 weeks New banknotes to be in circulation next week – BoG ModernGhana -Biz
    The Bank of Ghana (BoG) says the new banknotes launched Friday would be available for transactions from next week. Deputy Governor of the Bank Dr Maxwell Opoku Afari said: ldquo;The systems are being calibrated as we speak and the banks will start getting these species moved to their various branches starting from next week Monday. rdquo; Dr Opuku Afari added that ldquo;It will be demand-based as to how many people want to demand that because as I said, it rsquo;s mostly going to store v ... more
  • 2 weeks Press release: GUTA responds to Nigerian Traders in Ghana ModernGhana -Biz
    The Ghana Union of Traders Association has responded to a press conference organised by the Nigeria Union of Traders Association in Ghana. https://www.scribd.com/embeds/437550516/content?start page=1 amp;view mode=scroll amp;access key=key-vdQ4ko27ZpN2EyrDEmH5 amp;show recommendations=true false Story by Ghana Myjoyonline.com ... more
  • 2 weeks BoG Launches New Cash GH¢200, 100, 2 Cedi Coin ModernGhana -Biz
    The Bank of Ghana (BoG) yesterday introduced two new denominations ? GH 100 and GH 200 ? which it says are high value Ghana cedi banknotes. The Central Bank also introduced a new GH 2 coin. Why The New Notes? The Governor of Bank of Ghana, Dr. Ernest Addison, unveiled the notes and coin, giving detailed reasons for their introduction. According to the Central Bank, high levels of inflation currency depreciation in the past have eroded some of the gains from redenomination. ... more
  • 2 weeks NABCO beneficiaries receive entrepreneurship training ModernGhana -Biz
    Over three thousand Nation Builders Corps (NABCO) beneficiaries drawn from the Bono, Bono East and Ahafo Regions have participated in a day 8217;s entrepreneurship training and capacity building programme in Sunyani. The programme forms part of the NABCO 8217;s 8220;Skills and Talent Academy 8221; which is meant to empower the beneficiaries to successfully exit from the scheme. Managers of NABCO expect beneficiaries under the programme to successfully exit through any of the three mai ... more
  • 2 weeks Driver unions endorse NIC’s move to eradicate fake motor insurance ModernGhana -Biz
    The leadership of transport unions has endorsed the initiative by the insurance regulator to implement an electronic insurance database, to check the menace of fake insurance stickers. The Driver Unions who were moved by their excitement at the news, recently paid a courtesy call on the Commissioner of Insurance at the National Insurance Commission, to find out more about it. The Union Executives led by Mr Francis Sallah expressed their delight at the move as it has been the headache of th ... more
  • 2 weeks Paris Graduate School of Management Alumni back colleague to win 2019 Young Entrepreneur Award ModernGhana -Biz
    Paris Graduate School of Management-Ghana Alumi are backing a colleague member, Joyce Apoasaan Jambeidu, to win the Service Provider Entrepreneur of the Year Award. The award is among numerous categories under the upcoming 2019 Young Entrepreneur Awards, an annual awards event that celebrates outstanding young entrepreneurs whose initiatives lessen the burden on the job market and inspire other young people to become job creators instead of seekers. Joyce Apoasaan Jambeidu is the Chief Exe ... more
  • 2 weeks Introduction of GH¢100, GH¢200 notes could cause inflation – Economist ModernGhana -Biz
    An economist, Dr. Laud Mensah has said that the introduction of the GH 100, GH 200 denomination notes by the Bank of Ghana may cause inflation. He said prices of goods of lower categories such as water will shoot up as result of the development. 8220;For me, I think it has the tendency of causing inflation because when you are pricing, you will look at the minimum and what is convenient to handle and at the end of the day, the lower categories of consumption like water and othe ... more
  • 2 weeks Mercedes-Benz owner Daimler to cut 10,000 jobs worldwide ModernGhana -Biz
    Daimler, the German carmaker that owns Mercedes-Benz, has said it will shed at least 10,000 jobs worldwide as it seeks to fund the switch to electric cars. Daimler personnel chief Wilfried Porth told journalists the number of jobs lost would be quot;in the five figures quot;. The move comes days after rival Audi said it would cut 9,500 of its 61,000 jobs in Germany for similar reasons. Daimler said the car industry was going through quot;the biggest transformation in its history quot; ... more
  • 2 weeks Flight Centre issues order to halt SAA ticket sales ModernGhana -Biz
    Market jitters over the future of SAA on Thursday saw one of SA rsquo;s largest travel ticket retailers decide to stop selling SAA tickets and a top travel insurer withdrawing insolvency cover for tickets sold going forward. The news came as government officials from the National Treasury and the department of public enterprises met behind closed doors to discuss the future of the insolvent airline, which needs a government loan guarantee to continue trading. Without this SAA faces either liq ... more
  • 2 weeks Jumia exits two African countries as e-commerce giant continue to suffer losses Pulse -Biz
    <ul><li>Jumia has exited Cameroun and Tanzanian markets to focus on other strong markets.</li><li>Africa’s largest e-commerce platform continues to incur losses.</li><li>Jumia execs express hope in the company's payment and fintech business, especially with JumiaPay.</li></ul> <p class=""><a href="https://www.pulse.ng/bi/lifestyle/jumia-closes-down-business-in-tanzania-just-10-days-after-exiting-cameroon-heres-why/cttrylx" id="5f431c25-6841-49a4-bb16-6cd9834e73be" data-link-role-code="none">Jumia </a>has exited two African countries – <strong>Tanzania </strong>and <strong>Cameroun</strong> markets – as the e-commerce platform continues in its <a href="https://www.pulse.ng/bi/finance/fraudulent-transactions-in-nigerias-business-cost-jumia-4-merchandise-sales-in-the/9zz7qn0" id="0681e7bd-e9a6-4734-8c5c-a73bdd525edf" data-link-role-code="none">loss-making venture</a>.</p> <p class="">Per Tanzania's exit, the company said the latest move was to focus resources 'where they can bring the best value and help the company to thrive'.</p> <p class="">“<em>As part of our ongoing portfolio optimisation effort, Jumia has come ... more
  • 2 weeks Bank of Ghana assures universal banks of having enough dollars to stabilise the cedi following the issuance of the new GH¢100 and GH¢200 notes Pulse -Biz
    ... more
  • 2 weeks Bank of Ghana assures universal banks of having enough dollars to stabilise the cedi following the issuance of the new GH¢100 and GH¢200 notes Pulse -Biz
    <p class="">The Bank of Ghana (BoG) has urged universal banks in the country that it has adequate dollars to stabilise the cedi following the issuance of the new GH¢100 and GH¢200 notes.</p> <p class=""> This was captured in a circular issued to all commercial banks in the country.</p> <p class="">According to report, the circular is a fresh move by the BoG to manage market sentiments because of its impact on the Ghana Cedi.</p> <p class=""><strong>Why the move</strong></p> <p class="">The regulator believes the current pressure on the cedi is not backed by real demand but fears that the local currency position ... more
  • 2 weeks New Banknotes: We’re Still Pursuing Cashless Society Policy – BoG ModernGhana -Biz
    The Bank of Ghana (BoG) says it is not shifting away from pursuing the cashless society policy with the proposed introduction of the new banknotes. Speaking to the media during the launch, the Governor of the Bank of Ghana, Dr Ernest Addison said: ldquo;the introduction of these high-value notes should not be misinterpreted to mean a shift away from the Central Banks policy of pursuing a cashless society and promoting the use of electronic modes of payments. rdquo; Dr Addison ... more
  • 2 weeks Bank of Ghana says new GH¢100, GH¢200 notes will not be available in ATMs Pulse -Biz
    <p class="">The Bank of Ghana (BoG) has said that the new GH¢100 and GH¢200 notes to be issued will only be restricted to high-value transactions.</p> <p class="">This means that the new notes will be limited in circulation and will not be dispensed by ATMs.</p> <p class="">The Bank of Ghana has introduced GH¢100 and GH¢200 notes to the country’s currency denomination mix.</p> <p class="">This was announced by the Governor of the Central Bank, Dr. Ernest Addison at a press conference in Accra on Friday.</p> <p class="">Dr Addison said “a lot of thinking went into the decision to introduce the higher denomination ... more
  • 2 weeks Telcos Pay Gov’t GH¢2.2bn In Taxes Annually – Telecoms Chamber ModernGhana -Biz
    Figures on the contribution of telecom operators to national development indicate that every year, telcos pay GHC2.2 billion in taxes. This figure represents almost 9% of Ghana rsquo;s annual total revenue basket. Out of the total, Communication Service Tax (CST) tops with GHC420 million, followed by Value Added Tax (VAT), GHC413 million; Corporate Income Tax (CIT), GHC343 million; Withholding Tax (WHT), GHC293 million and Import Duties, GHC180 million. The rest are Surcha ... more
  • 2 weeks GRIDCo To Cut Power To VALCo In December Over US$30million Debt ModernGhana -Biz
    The Ghana Grid Company Limited (GRIDCo) on Thursday says it will disconnect power to the Volta Aluminum Company Limited (VALCO) on December 30 because of a $30million debt owed it. The management of the power transmission company said VALCO rsquo;s debt and that of Electricity Company of Ghana, and Northern Electricity Distribution Company was hampering the operations of the company. Mr Jonathan Amoako-Baah, the Chief Executive of GRIDCO, who disclosed this at the annual gener ... more
  • 2 weeks BoG To Introduce GH¢ 100, GH¢ 200 Banknotes ModernGhana -Biz
    The Bank of Ghana (BoG) is set to officially introduce new higher denominations. They include a GH cent; 100 and GH cent; 200 banknotes. It has also introduced a GH cent; 2 coin. Governor of the Central Bank, Dr. Ernest Addison, launched the new notes and coin on Friday, November 29, 2019. ---Daily Guide ... more
  • 2 weeks Here is what the GHC200 and GHC100 looks like Pulse -Biz
    <p class="">The Governor of the Bank of Ghana (BoG) has announced that it will introduce GHC100 and GHC200 notes in addition to the already existing country’s currency denomination.</p> <p class="">Ghanaians on social media are reacting to the news. Most people do not seem enthused by this idea.</p> <p class="">Here is what the new notes and coin look like.</p> <figure class="image" align="center"> <img src="http://ocdn.eu/images/pulscms/MGI7MDA_/36e64590c213d297366c2a7bf637d624.jpg" alt="New 200 cedis note"> <figcaption>New 200 cedis note</figcaption> </figure> <figure class="image" align="center"> <img src="http://ocdn.eu/images/pulscms/M2I7MDA_/7e126af5457fbdf902544ceaa08b875e.jpg" alt="200 cedis note"> <figcaption>200 cedis note</figcaption> </figure> <figure class="image" align="center"> <img src="http://ocdn.eu/images/pulscms/NDY7MDA_/9dd8459b6a750712def4d8ef541cb243.jpg" alt="200 and 100 cedis notes"> <figcaption>200 and 100 cedis notes</figcaption> </figure> ... more
  • 2 weeks Bank of Ghana introduces Ghc200 and Ghc100 cedis note Pulse -Biz
    <p class="">The Bank of Ghana has introduced GH¢100 and GH¢200 notes as additions to the country’s currency denomination mix.</p> <p class="">The Central Bank has also introduced a GHC2 coin.</p> <p class="">This was announced by the Governor of the Central Bank, Dr. Ernest Addison at a press conference in Accra on Friday.</p> <p class="">Dr Addison said “a lot of thinking went into the decision to introduce the higher denomination banknotes. The structure of the banknote should align well with the needs of the people who use it for their daily transactions. We need banknotes and coins that are convenient for most ... more
  • 2 weeks Prof Osei-Assebey hails National Development Bank initiative with caution ModernGhana -Biz
    The decision of the government to establish a National Development Bank has been hailed by Professor Eric Osei- Assebey, an economist, on condition that it parries bad corporate practices. https://www.youtube.com/embed/F2d6Lt8gvDU It was announced at the presentation of the 2020 budget statement in Parliament by the Finance Minister, Mr Ofori-Atta, that plans are at an advanced stage to establish a National Development. This bank, according to the Minister, will focus on in ... more
  • 2 weeks ‘Cease fire’ – Labour Ministry on SSNIT and Pensioners brouhaha ModernGhana -Biz
    The Ministry of Employment and Labour Relations is calling for cool heads between the Social Security and National Insurance Trust (SSNIT) and the Forum for Public Sector Registered Pension Schemes over their gridlock on the payment of past credits of contributors. The Forum had accused SSNIT of not being forthcoming in revealing how it calculates past credits of contributors who will be due for pension by January 1, 2020. SSNIT however disagrees arguing that it only uses the agreed formul ... more
  • 2 weeks Over 70% of Ghanaians trust mobile money more than financial institutions – Afrobarometer ModernGhana -Biz
    Afrobarometer Report on public confidence in the safety of Ghana 39;s financial institutions, following the clean up in the sector, indicates over 70% of Ghanaians trust mobile money more than other financial institutions. The report put together by CDD-Ghana noted that in spite of the cleanup, 83% of Ghanaians still trust in banks, but the reputation of savings and loans, microfinance and traditional susu companies has declined considerably. Only 8% of the 2,400 Ghanaians surveyed said t ... more
  • 2 weeks Feud over Ho Central Market is cause of revenue shortfall – Ho MCE ModernGhana -Biz
    The Ho Municipal Chief Executive is calling on the two factions in the Ho Central Market feud to settle their differences amicably for the inauguration of the market. Prosper Kofi Pi-Bansah said the continuous closure of the market is taking a serious toll on revenue targets making it difficult for the assembly to undertake projects with its meagre Internally Generated Fund (IGF). Mr Pi-Bansah who took office barely four months ago laments that shortfalls in the revenue generation are due ... more
  • 2 weeks 350,000 Ghanaians to benefit from bulk power supply project at Pokuase – MiDA ModernGhana -Biz
    As part of efforts by the government to address power outages and low voltages with electricity supply in Ghana, work is progressing steadily on the $60 million Bulk Supply Point (BSP) project which commenced at Pokuase in April this year. The BSP forms part of the $498.2 million Ghana Power Compact II, funded by the United States Government through its agency, the Millennium Challenge Corporation (MCC). Chief Operations Officer of the Millennium Development Authority (MiDA), Kwame Kpekpen ... more
  • 2 weeks Efua Rockson Named Among West Africa Top 20 Marketing & Communications Professionals ModernGhana -Biz
    Nana Efua Rockson, a seasoned Marketing amp; Communications Professional and the Group Head, Corporate Affairs amp; Marketing of GLICO GROUP, currently managing GLICO Group Ltd and its six (6) subsidiary brands, has been named as one of West Africa's Top 20 Marketing amp; Communications Professionals. GLICO GROUP was also named as the Insurance brand of the Year 2019 , both at the 9th Marketing World Awards 2019. Nana Efua who was out of the country at the time of the awards co ... more
  • 2 weeks Ghana is safe haven for German investors – Trade Minister ModernGhana -Biz
    Minister of Trade and Industry, Alan Kyerematen has called on investors, especially those from Germany to take advantage of the enabling environment in Ghana to invest in the country as a way of deepening the commercial engagements between the two countries. Addressing an investment forum in Berlin, Germany Mr Kyerematen said ldquo;Our interest as a developing country is to be able to deal decisively with the challenge of unemployment and we believe that it is the private sector that can lea ... more
  • 2 weeks MTN Brighten ‘Your Community’ campaign launched ModernGhana -Biz
    Telecommunications giant, MTN Ghana has launched a campaign which will allow customers to choose a project they want to be implemented in a community of their choice in Ghana. The initiative dubbed lsquo;Brighten Your Community rsquo; being championed by the MTN Foundation will be run via the company rsquo;s social media handles: Facebook, Instagram and Twitter. The campaign officially starts on Monday, December 2, 2019, and ends on Monday, December 9, 2019. Speaking at the launch, act ... more
  • 2 weeks Opportunity International Empowers Women ModernGhana -Biz
    OPPORTUNITY INTERNATIONAL (United Kingdom) recently held its annual stakeholders' meeting in Accra on 8220;Economic Empowerment of Women in Ghana and Democratic Republic of Congo through rural financing 8221; supported by UK Aid Match. The maiden meeting was attended by all the project stakeholders, including Opportunity International UK, Sinapi Aba Savings and Loans (SASL), Vision Fund 8211; Democratic Republic of Congo (DRC), Esoko, Participatory Development Associates (PDA), Warehousi ... more
  • 2 weeks MTN grabs 7 awards at 9th Marketing World Awards ModernGhana -Biz
    In recognition for its professionalism in undertaking Marketing Campaigns and activities, MTN Ghana excelled at the 9th Marketing World Awards by receiving seven prestigious awards. MTN was awarded as the Best Company in Customer Care, Marketing Campaign of the Year (for the lsquo;MTN MoMo at 10 rsquo; ad), Telecom Brand of the Year and Marketing Team of the Year In addition, Mr. Noel Kojo-Ganson, Chief Marketing Officer of MTN Ghana won two personality awards at the event. He ... more
  • 2 weeks Achimota Mall stores markdown prices to clear stocks on Black Friday ModernGhana -Biz
    A festival of fun and blistering hot discounts, bargains and deals await shoppers and customers of Achimota Retail Centre (ARC), as stores continue to mark down prices to clear their stocks on Black Friday, management has announced. A special edition of the Centre rsquo;s popular sidewalk sales which opened on Monday to usher in tomorrow rsquo;s shoppers rsquo; carnival has now hit top gear, as stores announced incredible price drops ranging from 5% to as high as 70%. ldquo;I cannot think ... more
  • 2 weeks Ho Hosts 3-Day Trade Fair ModernGhana -Biz
    THE VOLTA Regional Capital, Ho, successfully hosted a three-day trade, investment and cultural fair activity which began last Friday and ended on Sunday. Chairing the opening ceremony at the Ho Sports Stadium was businessman Prince Kofi Kludgeson whose presence added colour to the high profile trade and investment programme. Representing the Trade Minister, Alan Kyerematen, at the occasion was Carlos Kingsley Ahenkorah, Deputy Minister of Trade and Industry in charge of Trade, who is als ... more
  • 2 weeks We commit to uninterrupted power supply – GRIDCo ModernGhana -Biz
    In its first official comment following recent staff agitations over unpaid debts, GRIDCo says it is committed to a reliable power supply to Ghanaians. Board Chairman Ambassador Kabral Blay-Amihere, speaking during the company rsquo;s 10th AGM in Accra, said the leadership has taken every step to ensure that the company rsquo;s mandate as the backbone of power delivery in Ghana remains consistent. GRIDCo rsquo;s Senior Staff Association recently held a press conference demanding payment of ... more
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