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Fri, Jul

Latest Business News

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Mrs Dzigbordi K. Dosoo, CEO of Allure Spa, launching the centre. With her is Dr Ellen Hagan, CEO of L’AINE Services Limited

Business News

L’AINE Services Limited (LSL), a consultancy firm, has launched its new events centre to promote Ghana’s hospitality industry.

The LOC Events Centre (LEC), according to the CEO of Allure Spa, Mrs Dzigbordi K. Dosoo, sought to offer event organisers a place of convenience to ply their activities.

Mr Alan Kyerematen — Trade and Industry Minister

Business News

Volta Star Textiles Company Limited (VSTL) currently requires a capital injection of about GH¢20 million to enable it to become viable.

As of May 2017, the total debt of the company stood at GH¢13.4m.

President Akufo-Addo (left) speaking to the audience at the launch of the book in Accra. Picture: Samuel Tei Adano

Business News

A comprehensive audit of various state institutions has been rolled out to determine the true extent of corruption in the public sector, President Nana Addo Dankwa Akufo-Addo has said.

The exercise, he said, would enable the government to come out with an all-embracing strategy to deal resolutely with the menace of corruption.

Angela Kyerematen-Jimoh

Business News

Technology and top talent will continue to compete for society’s attention. As the world moves towards the 4th industrial age, companies, economies and societies will increasingly be driven by data analytics, interconnectivity and the application of the cognitive sciences enabled by the cloud. Individuals who understand these new areas of computing will never lack work.

One billion people use WhatsApp every day. The company first recorded a billion users a month back in early 2016 and has now surpassed that mark by recording a billion users every single day.

Mark Zuckerberg disclosed that Facebook's own Messenger app has reached 1.2 billion monthly active users (MAU), but WhatsApp still has more patrons in that regard at 1.3 billion MAU. Taking those numbers into account, 76 percent of people who use WhatsApp don't go 24 hours without firing it up on their devices.

Workers of the Prestea mine demonstrating safety measures at the forum

Business News

Golden Star Resources Limited (GSR) has launched a safety campaign at Bogoso in the Western Region that aims at making safety at its two operations a lifestyle among employees.

The safety week has consequently been institutionalised as an annual event that will promote safety among the workforce through competitions and other activities.

It was under the theme ‘Never forget, never again; use safety as a tool.'

Dr Ernest Kwamina Yedu Addison — Governor of the Bank of Ghana

Business News

A group of commercial banks in the country have raised eyebrows over the intention of the government to proceed with the opening of a unified bank account with the Bank of Ghana (BoG) to give a consolidated view of its cash resources.

Reacting to the intention of the government to open a Treasury Single Account (TSA) with the central bank, the commercial banks stated that while they agree with the government to consolidate its accounts, it was imperative for the government to appreciate the fact that most of the covered entities were customers of commercial banks in the country.

No immediate reduction in interest rates— Banks caution customers

Business News

The hopes of bank customers to have a drop in interest rates within the shortest possible time following a reduction in the central bank’s policy rate last Monday will be dashed as banks are unlikely to react accordingly in the nearest future.

According to some heads of universal banks in the country, a drop in the policy rate from 22.5 per cent to 21 per cent cannot immediately translate into reduced interest rates on loans.

Accra, the capital city of Ghana has been ranked the 10th wealthiest city in Africa.

No other Ghanaian city was ranked in a list of the 23 wealthiest African cities which was contained in a report published by AfrAsia Bank and New World Wealth.

Commercial gold production at the Prestea Underground Mine (PUM) is set to resume in October, this year, bringing into reality a revival process that started in 2002 by the Ghana subsidiary of Canada-based miner, Golden Star Resources Limited.

Twenty-three young men and women grouped into six start-ups are gearing up to convince an expert panel of judges in a final showdown on July 28, 2017 to grab the $100,000 grant on offer from oil producer, Kosmos Energy Ghana.

Mr Sumaila Abdul-Rahman

Business News

Actionaid Ghana has asked the government to revise the tax treaties granted to multinational corporations operating in the country.

This is to halt the harmful and generous tax breaks granted foreign business entities in the country.

Telecoms - Oil and Gas

Grid List

Communications Minister Ursula Owusu-Ekuful pays working visit to NCA

Telecom

The Minister for Communications, Mrs Ursula Owusu-Ekuful, on Monday paid a working visit to the National Communications Authority (NCA).

Accompanying her were the Minister for Information, Mr Mustapha Abdul-Hamid and Deputy Minister for Communications, Mr Vincent Sowah Odotei.

Mr Emmanuel Hudson-Odoi (right) receiving the award on behalf of Subah Infosolutions

Telecom

IT and Telecommunications solution provider, Subah Infosolutions Ghana Limited, has been adjudged the “Best Revenue Assurance, Fraud & Traffic Monitoring Solution” provider at the just-ended 4th Annual Africa Telecoms Fraud, Revenue Assurance and Risk Management Forum in Kenya. 

The Director of Subah Infosolutions, Mr Redeemer Kwame, accompanied by the Business Development and Marketing Manager, Mr Emmanuel Hudson-Odoi, and the Revenue Assurance Manager Mr Felix Steve Quaicoe, received the award on behalf of the company.

New smartphone, Fero L100 introduced in Ghana

Telecom

A new smartphone, Fero L100 has been introduced in Ghana by MTN in partnership with Dubai-based mobile company Fero.

The Fero L100 has a 5-inch HD IPS display with a dragontrail glass protection and a long battery lifespan.

Ghanaian-owned technology company, Rlg in partnership with Adulawo Technology Company, has secured a multi-million dollar contract for the production of terrestrial broadcast set top boxes for Nigeria.

A three-day International Workshop on Criminal Justice Statistics on Cybercrime and Electronic Evidence on Wednesday, 29th March, 2017 has opened in Ghana’s capital, Accra at the Movenpick Ambassador Hotel.

NCA Director General Joe Anokye tells Telcos to improve service to consumers

Telecom

The Acting Director General of the National Communications Authority (NCA), Mr. Joe Anokye, has charged Mobile Network Operators to work on improving Quality of Service (QoS) and ensure that consumers are satisfied.

He said this at a meeting with Chief Technical Officers of the various Mobile Network Operators (MNOs) on Friday, 17th March, 2017 at the NCA Tower.

Present at the meeting were representatives from MTN, Tigo, Vodafone, Airtel, Glo, and Expresso. The purpose of the meeting was to discuss poor Quality of Service (QoS) being experienced by consumers.

The managers after one of the training sessions

Oil & Gas

Seventeen selected mid-career managers at Tullow Oil Ghana Limited are building their leadership skills in the China Europe International Business School (CEIBS) Advanced Management Programme (AMP). The 18-month programme has been tailor-made to fit the needs of Tullow Ghana limited, one of the leading oil and gas production companies in Ghana. The CEIBS (AMP) provides the Tullow employees a chance to step back from their daily professional demands while reflecting on the challenges facing the organisation.

The Ghanaian delegation at the Jereh LNG/CNG Fuelling Station Workshop

Oil & Gas

Chinese multinational firm Yantai Jereh has expressed interest in supporting key infrastructural development in the oil and gas industry in Ghana.

The company believes there are opportunities to explore in pipelines, refineries, petroleum storage, LNG/CNG systems, LPG distribution and natural gas compression.

Mr Bonarh Sarpong (left), General Manager of M&K Gh Ltd, welcoming Mr Boakye Agarko, the Minister of Energy, to the International Paint, stand during the Oil and Gas exhibition at the AICC in Accra

Oil & Gas

The 8th Annual Ghana Summit Exhibition, a platform for companies to showcase their latest products, services and innovative solutions in the oil and gas industry, took place in Accra last Thursday.

Some members of the Scottish delegation at the reception

Oil & Gas

A high-powered team of Scottish business people are in the country to explore investment opportunities in the oil and gas sector.

Representatives of 19 oil companies, whose visit was facilitated by the Scottish Development International (SDI), will in the next four days interact with key players in the oil and gas sector to assess the industry and find potential local partners.

Players in the country’s oil and gas industry have expressed shock at reports making the rounds that the current Chief Executive Officer of the Petroleum Commission is to be axed and the post handed to a “politically aligned” person.

The industry upstream sector players kicking against any such move suggest the best way forward would be to establish a board whose members have proven expertise in the industry who will focus on supporting the commission and allied bodies – the National Oil Company (NOC), the Ghana National Petroleum Corporation (GNPC), and the Ghana National Gas Company (Ghana Gas), and the Environmental Protection Agency to protect the interest of the country.

Mr Patrick Akorli (left), the MD of GOIL, addressing shareholders at the AGM

Oil & Gas

The new board of the Ghana Oil Company (GOIL) intends to increase the company’s market share from 18 per cent to about 30 per cent by 2020.

This forms part of its plans of making GOIL the major driver and the market leader in the oil marketing business in the country.