Business

Parliament Friday evening passed the Narcotics Control Commission Bill, 2019, to treat drug dependence as a public health issue rather than focusing on law enforcement, incarceration, punishment and repression. “The fundamental goal of drug policies should be to improve the health, safety, security and socio-economic well-being of people by adopting appropriate measures to combat illicit crop cultivation and use of ...

The Chamber of Petroleum Consumers Ghana (COPEC) wants Ghana’s Price Stabilization and Recovery levy (PSRL) scrapped. COPEC said the continuous imposition of the PSRL is inimical to consumers. “The PSRL must be immediately scrapped from the Price Build Up and a more sustainable source of funding be instituted for premix in order that the whooping 16p/litre charge on fuel prices ...

Multinational mining firm, Newmont, has announced on Monday March 9 that its Board of Directors (Board) plans to reduce the number of Directors from 15 to 11, effective following the Annual Meeting of Stockholders on April 21, 2020, with the completion of the Goldcorp integration. The Corporate Governance and Nominating Committee and the Board determined that reducing the size of ...

Energy experts discussed the importance of gas for Africa’s current and future energy needs, pointing out that Gas will be critical for creating industry, manufacturing and attracting investment capital. With recent major gas discoveries in Tanzania, Mozambique, Senegal, Mauritania and South Africa, Africa is poised to use gas technologies that are faster, more reliable, more cost-effective and more environmentally-friendly than ...

Revenue Mobilization Africa, a not-for-profit organization has cautioned government, particularly the Ministry of Energy not to approve the Anadarko–Total SA deal until all taxes owed the state are duly paid. The organization in a statement issued in Accra by its Executive Director Geoffrey Kabutey Ocansey expressed concern about the many speculative news stories regarding the sale of Anadarko operations in ...

Mr Kwame Agyeman-Budu, Managing Director of the Electricity Company of Ghana (ECG), has warned the general public to desist from illegal power connections to their homes and places of work. He said such practices go against the laws of the land, hence culprits will be made to face the full riguor of the law if they are caught. Mr Agyeman-Budu ...

The World Bank has cautioned Ghana against excessive borrowing amidst concerns that the country risks being classified as high debt distress country if the situation persists. This comes a day after the country successfully raised US$3 billion Eurobond which was five times oversubscribed. The International Monetary Fund has also warned the nation that it is at a high risk of ...

President Akufo-Addo has expressed his delight at the return to production, productivity, and profitability of the Anglogold Ashanti Gold mine, six years after it was effectively closed down. According to President Akufo-Addo, the coming back on stream of the Obuasi mine signals to the rest of the world “new beginnings for Obuasi, which will help in spurring on the development ...

The Chief Executive Officer of the Ghana Investment Promotion Centre(GIPC), Yoofi Grant is demanding the enforcement or revision of the GIPC law which bars foreigners from engaging in retail trade in Ghana. According to him, this will resolve the unending retail feud between Ghanaian and Nigerian traders which has resulted in the closure of Nigerian shops in the past few ...

The third edition of the Mastercard Index of Women Entrepreneurs (MIWE) has listed three African countries as global leaders in terms of women-owned businesses. Uganda, Ghana and Botswana are ranked as the top three countries with the highest percentages of women-owned businesses across the 58 markets evaluated around the world. Based on publicly available data from international organizations including the ...