Business

Ghana still exports about 80 per cent of its raw cocoa beans despite calls for value addition in order for the country to earn more revenue from the commodity. The Managing Director (MD) of the Cocoa Marketing Company (CMC), Mr Joe Forson, at a recent conference in Accra said about 20 per cent of the total cocoa output for the ...

Rebased economic figures released by the Ghana Statistics Service (GSS) indicate that the country’s economy expanded by 24.6 per cent in 2017. This means that Ghana’s economy increased to GH¢256 billion from GH¢205.9 billion recorded earlier. The rebasing involves replacing the old base year (i.e. 2006) used for computing the constant price estimates to a more recent base year – ...

State-owned Enterprises (SOEs) in the country recorded a net loss of GH¢1.29 billion last year, the State Ownership Report has revealed. The report, launched in Accra on Thursday,  however, said that the losses were a reduction over similar losses recorded in 2016. According to the report, the bane of SOEs was their chronic inability to contain costs, as their aggregate operating ...

Ghana’s real estate sector is once again being battered by the falling value of the Ghana cedi against major trading currencies and rising import charges. Speaking to Business Finder, Executive Secretary of the Ghana Real Estate Developers Association (GREDA), Sammy Amegayibor said the fall in the value of the cedi is badly affecting players in the sector because most of ...

Despite the depreciation of the cedi, foreign currency deposits with banks grew by 18.3 percent in August 2018 compared with 6.4 percent and 6.2 percent growth respectively in June and May 2018. According to the latest Bank of Ghana’s Summary of Macroeconomic and Financial Data, foreign currency deposits also grew by 15.4 percent in July 2018. The recent growth might ...

The Trades Union Congress (TUC) is set to continue processes to demand Living Wage for workers. The National Living Wage will ensure that the daily wage of an average worker in Ghana caters for at least four people in a family instead of the current minimum wage which caters for only one person. Ghana’s Minimum wage is one of the ...

The Ministry of Communications, in collaboration with StarTimes, will on September 26 launch the nationwide ‘300 Village Satellite TV’ project. The ceremony to officially announce the start of the project will be held at Akweibu Basic School in Dansoman, the first beneficiary village in the Greater Accra Region. In line with the Government of Ghana’s commitment to bridging the digital ...

The Kingdom of Spain has pledged to train 2,000 young Ghanaian entrepreneurs to achieve the ‘Ghana Beyond Aid’ vision. On Tuesday, Ministry of Business Development signed an agreement worth GH¢30 million with the Chamber Institute for Business Creation and Development of Enterprise (INCYDE) of Spain, in Accra to develop a training programme to support and promote entrepreneurship in Ghana. From ...

The Security and Exchange Commission (SEC) Thursday cautioned the public against patronising unlicensed financial investment schemes and products, which are being marketed through various media forms, including electronic, outdoor and mass media advertising. “Operators of these unlicensed financial investment schemes are in serious breach of various provisions of the Securities Industry Act, 2016 (Act 929) and are warned to close ...

Ghana and Mexico are working towards opening a direct flight route between Accra and Mexico City in order to boost their aviation cooperation. This came to light when the Mrs Maria de los Angeles Arriola Aguirre, Mexico’s Ambassador to Ghana, paid a courtesy call on Mr Joseph Kofi Adda, the Minister of Aviation in Accra. The establishment of direct flight ...