Business

The Auditor General’s Report on public accounts has highlighted an issue concerning the poor recovery of loan receivables by the government. According to the report, a staggering GH¢61 billion remains outstanding, representing 99.93% of the total loan receivables for the year ending December 31, 2023. The report underscores the importance …

Dr Mahamudu Bawumia, the flagbearer of the New Patriotic Party, vowed to create a more business-friendly environment if elected. Presenting the party’s 2024 manifesto, Dr. Bawumia emphasised his commitment to supporting and expanding businesses, particularly in the private sector. He outlined plans for a new tax regime under his administration, …

Elder Dr. Samuel Amo Tobbin, Group Chairman of Tobinco Pharmaceuticals Limited (TPL), has opened up about his distressing experience with the Food and Drugs Authority (FDA) in 2013, following the seizure of his company’s products. Dr. Tobbin recounted his ordeal under the leadership of the former FDA CEO, Dr. Stephen …

Tobinco Pharmaceuticals Limited (TPL) and its Group Chairman, Elder Dr Samuel Amo Tobbin, have been cleared of allegations of importing fake drugs into Ghana. This ruling, delivered by Her Ladyship Audrey Kocuvie-Tay at the High Court, Accra, on July 29, 2024, contradicts claims made by former Chief Executive Officer of …

The Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana has attributed rising labour agitations, high business costs, and the collapse of some businesses to the high foreign exchange rates and inflation. This finding is sourced from the Institute’s assessment of the recent mid-year budget review …

Members of the Locked-Up Investment Holders Forum have taken to the streets for the eleventh time, demanding payment of their locked-up funds. The group, comprising customers of distressed financial institutions, including NDK Financial Services, expressed disappointment at the Finance Minister’s reluctance to provide assurances for the Bank of Ghana (BoG) …

Research firm, IC Research is raising its 2024 annual inflation forecast by 340 basis points to between 19.3% and 21.3%. This is due to the upside risk to inflation in the second half of 2024, subject to downward pressure from food harvest in quarter 3, 2024. The new projection is …

The Bank of Ghana has sanctioned 47 individuals and 245 business entities for continuous issuance of dud cheques. The Central Bank notes that the affected bank customers issued dud cheques on at least three occasions between January 2022 and January 2024, despite warnings about the consequences of their actions. A …

Flagbearer of the New Patriotic Party (NPP), Dr Mahamadu Bawumia has announced that the cost of public transportation will decrease by at least 40% before the December elections with the introduction of electric vehicles for public transportation. Speaking at the Ofie Mega Walk in Akropong, Dr. Bawumia revealed that the …

The Ghana Road Fund owes contractors over GH¢6 billion. The fund attributes this debt to the limited inflows resulting from the capping law. In 2017, a law was enacted by parliament to restrict the allocation of funds to various statutory funds to a maximum of 25% of tax revenue. During …