Business

Mr Philemon Kwame Ankomah, Chief Information Security at the Bank of Africa, has noted that activities of cyber fraudsters are increasing because more people are now trading online in the wake of the coronavirus pandemic. He said the fraudsters are taking undue advantage of the new normal to dupe people. He further recommended constant changes to passwords and also taking ...

For Africa to see an acceleration of its infrastructural development, it will be necessary to implement policies that will limit political pressure on procurement processes; improve integrity standards; enforce internal controls for corruption and enact monitoring schemes that will improve efficiency of projects, the Quality Infrastructure in 21st Century Africa report has advised. According to the report which was published ...

The Ghana Airports Company Limited (GACL) is so burdened with debt accrued from the establishment of Terminal 3 such that it requires a “strategic partner” in making Ghana the aviation hub of the sub-region, Minister of Aviation, Joseph Kofi Adda has said. Reacting to allegations of the sale and privatization of the country’s airports to TAV-Summa Consortium, a Turkish conglomerate ...

President Nana Addo Dankwa Akufo-Addo Thursday urged increased and knowledgeable exchange between Africa’s community of development experts to enable solutions to bridge the continents infrastructure deficit. According to the President, Africa was replete with world-class experts, whose capabilities have not been well utilised to the benefit of the continent, thus, it was time that these human resources were managed well for its ...

Publish What You Fund has ranked the African Development Bank  fourth out of 47 global development institutions on its Aid Transparency Index. The Index is the only independent measure of aid transparency among the world’s major development agencies. The index places the Bank in the highest category of transparency along with other world class institutions such as the World Bank, the ...

The Market Conduct Office of the Bank of Ghana receives an average of 30 weekly complaints from the public. This follows the completion of the Banking and Specialised Deposits-Taking Institutions sector clean-up in 2019 which has compelled the Bank of Ghana to intensify its market conduct supervision. The public complaints are received through phone calls, WhatsApp messages, e-mails, and direct ...

The Ghana Revenue Authority (GRA) has dismissed claims by Imani Ghana that port operations in the country have reverted to pre-2002 manual system due to the introduction of the Integrated Customs Management System (ICUMS). According to GRA in a statement signed by Florence Asante, Assistant Commissioner, Communication and Public Affairs, in reaction to Imani’s claims, all transactions from 1st June ...

Aker Energy Ghana has reaffirmed its commitment to finding a solution that will allow for the commencement of a phased development of the Pecan field offshore Ghana. “In a time when most other E&P companies are putting development projects on the shelf due to the COVID-19 situation and historic low oil prices, Aker Energy and our partners, Lukoil, Fueltrade and GNPC, working ...

After the 2008 financial crisis, global regulators required banks to increase their prudential buffers of high-quality capital and liquidity. That significantly strengthened the resilience of the financial system. Many observers now cite those buffers as a bulwark against the adverse effects of the Covid-19 pandemic. But as we brace ourselves for a deep recession in 2020, and only partial recovery ...

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has asked world economies to prepare for  deep rescission this year following the impact of the COVID-19 on the economy. In an article, she suggested that having in place strong capital and liquidity positions to support fresh credit will be essential part of the economic recovery process. “After the ...