BUSINESS

Some customers of the collapsed savings and loans companies and other microfinance institutions (MFIs) have threatened to vote against the governing New Patriotic Party (NPP) if their locked-up deposits are not paid before the 7 December 2020 general elections. The affected customers say life has become unbearable for them after …

The Year-on-year inflation rate for November rose to 8.2 per cent, up by 0.5 percentage point from the 7.7 per cent recorded in October 2019. The month-on-month inflation between October and November stood at 0.7 per cent. Professor Samuel Kobina Annim, the Government Statistician, who announced this on Wednesday, said …

Cement manufacturers in the country have attributed the recent increase in cement prices to the depreciation of the cedi to the dollar, high port taxes and duties amongs others. Major cement manufacturers in the country have announced a 5% increment which takes effect today, warning that prices could increase further …

The Ghana Education Service (GES) has instructed heads of public Junior High Schools in the country who do not have enough funds to organise their end of term examination to borrow from the Capitation grant meant for kindergarten or primary schools. The notice to school heads sighted by Starr News …

Newmont Goldcorp has affirmed its readiness to divert the Afrisipakrom -Techire road, as the company finalises processes to commence actual mining on its Ahafo North concessional area. The Company’s Ahafo North concession is expected to cover 4,000 hectares of land around five major towns – Yamfo, Adrobaa, Susuanso, Terchire and …

The Head of Currency Management at the Bank of Ghana, John Gyamfi, says the Central Bank for the foreseeable future will continue to print Ghana’s currency notes with well-proven and trusted international companies as local firms lack the capacity to execute such jobs. The comment follows the revelation that the …

About 70 per cent of cocoa farmers in Ghana believe that the Ghana Cocoa Board (COCOBOD) does not serve their interest, a report by Imani Ghana, has noted. The survey dubbed “Exploring the revenue management and producer pricing mechanism within Ghana’s cocoa sector” also noted that 94 percent of cocoa …

CalBank announces the closure of a USD108million term facility with the Overseas Private Investment Corporation (OPIC) and Citibank (Citi)for on-lending to Small and Medium Enterprises (SMEs) in Ghana. This arrangement will enable CalBank to advance loans at relatively low interest rates to SMEs in Ghana with flexible repayment terms. In …

Seven mining companies, the Attorney General and Minerals Commission have been hauled to court over alleged illegalities. The plaintiff, David Addo has commissioned the actions in his capacity as a Ghanaian. Mr Addo claims AngloGold Gold Ashanti Iduapriem Ltd, Newmont Ghana Ltd, AngloGold Ashanti Ghana Ltd, Newmont Ghana Gold Ltd, …

Record commodity prices and low global interest rates have encouraged African countries to borrow as they did in the 1990s, but now some are struggling to pay up as their revenue slows along with economic growth. The debt of governments as a percentage of gross domestic product in sub-Saharan Africa …