BUSINESS

Ivory Coast and Ghana have agreed initial deals to sell cocoa with a living income premium of $400 a tonne added to the price, in a bid to reform the way global cocoa is priced, industry sources and a government source told Reuters. In a move aimed at easing pervasive …

The Ghana Cocoa Board (COCOBOD) has secured US$1.3 billion from a consortium of 24 banks to finance cocoa purchases in the 2019/20 cocoa season. The syndication, led by Natixis Bank, MUFG Bank Limited, Rabobank Group, Nedbank, Societe Generale and the Ghana International Bank, will attract an interest rate of .055 …

The Bank of Ghana has dismissed a staff Gilbert Addy for what it says is gross misconduct in relation to corrupt transactions and for accepting bribes in connection with the award of a contract to Sibton Switch Systems Limited in 2016. The Bank in a statement revealed that secret and …

Scores of workers of Vodafone Ghana have been asked to go home in a sudden redundancy operation by the telecom company, Starr News has learnt. Affected staff were informed of the move and given their redundancy packages on Thursday. It is believed close to 100 staff have been affected by …

Transaction advisors in a concession agreement with energy company, Power Distribution Services (PDS) have been accused of shifting blame after controversy gutted the agreement. In the controversy, Power Distribution Services (PDS) have been found to lack the financial capacity to provide $12.5m in guarantees when they took over ECG management …

Vice President of Policy Think tank, IMANI Africa, Kofi Bentil has said that the Power Distribution Services (PDS) is financially constrained therefore cannot implement the power concession agreement signed with government, ABC News can report. PDS took over the operations of the Electricity Company of Ghana (ECG) after its major …

President Akufo-Addo’s government has come under stern scrutiny in the past few weeks over its perceived failure to prosecute officials of the Mahama administration for alleged cases of corruption. The President, in the lead up to the 2016 election campaigned forcefully on corruption and pledged to prosecute government officials at …

The Bank of Ghana has pegged the minimum capital required for operating a mobile money company at GH¢20 million. The latest directive comes on the back of the recently passed Payment Systems and Services Act, 2019 (Act 987) which provides a legal and regulatory framework for the orderly development of …

The Minister of Lands and Mineral Resources, Kwaku Asomah cheremeh, has rated the success chalked by the government in the fight against illegal mining, popularly known as galamsey, at 85%. According to the Minister, though the expected success against the fight has not been met, he will not describe that …

The identification of human remains from the crash of Ethiopian Airlines Flight 302 is complete, the head of Ethiopia’s police said late on Monday, six months after the plane nosedived into farmland outside the capital Addis Ababa. The investigation was “very challenging”, said Endeshaw Tassew, commissioner general of the Ethiopian …