Business

Nigeria’s solar companies are seeing a surge in demand for mini-grids and equipment as businesses in Africa’s biggest oil producer look for alternative power sources after the cost of diesel soared locally due to rising global oil prices. Supply constraints could, however, hamper their ability to capitalize on the trend, with some saying they have begun to turn away customers ...

Environmental groups are suing Dutch airline KLM, alleging that adverts promoting the company’s sustainability initiative are misleading. The groups say it’s the first lawsuit to challenge the so-called airline industry “greenwashing”. They argue that KLM adverts and their carbon-offsetting scheme create the false impression that its flights won’t make climate change worse. But KLM says the company’s statements are “based ...

The Convention People’s Party (CPP) has described going to the International Monetary Fund (IMF) for support as a lazy approach. In a statement, the party also said the move was a short-term measure. “Ghana has gone to the IMF for a bailout 17 times and does the Akufo-Addo and Bawumia Government believe this 18th time would create the magic wand ...

The oil and gas industry is “under siege” due to years of under-investment, OPEC Secretary-General Mohammad Barkindo said today, Tuesday, July 5, 2022, adding the resulting supply shortage could be eased if extra supplies from Iran and Venezuela were allowed to flow. Years of sanctions have limited supplies from Iran and Venezuela. In addition, the West has imposed sanctions on ...

The Minister for Finance, Ken Ofori-Atta, is programmed to present the mid-year budget review to Parliament on 13th July 2022. According to the Majority Leader, it is possible that the Minister will table a request for the approval of supplementary estimates. The presentation will come as Ghana prepares to head back to the International Monetary Fund for a bailout. Indications ...

President Akufo-Addo has directed the Finance Minister, Ken Ofori-Atta, to begin formal engagements with the International Monetary Fund, for an economic support. A statement signed by the Information Minister, Kojo Oppong Nkrumah, and dated July 1st, 2022 indicated that there had already been a conversation between the IMF boss, Kristalina Georgieva and President Akufo-Addo. conveying the government’s decision to engage ...

The Trades Union Congress (TUC) has asked the government not to go to the International Monetary Fund (IMF) for support. Secretary-General of the TUC, Dr Yaw Baah said the IMF is not the solution to the challenges facing the country. He told TV3’s Daniel Opoku in an interview on Wednesday, June 29 that Ghana has been to the Bretton Woods institution sixteen ...

The Bank of Ghana (BoG) has said it is strengthening its fraud monitoring activities and enforcement of required internal controls and risk governance within banks, SDIs, EMIs and other regulated entities. As part of the measures, the Central bank has issued a notice to the public, banks and other regulated entities on the usage of the Ghana Card as the ...

The Chairman of Parliament’s Finance Committee, Kwaku Kwarteng, says should the government assess that the e-levy is not a helpful policy, it will be withdrawn. His comment comes on the back of a tweet by a leading member of the New Patriotic Party (NPP), Gabby Otchere-Darko, which said the e-levy is not living up to government expectations. He disclosed that ...

Majority of Ghanaians are said to have changed their behavior towards the electronic transfer of funds since the E-Levy kicked in back in May this year. According to a study, 83% of the populace felt compelled to do so in order to adjust to the limits introduced by the said levy as far as their livelihoods are concerned. These were ...