Friday, December 13Reliable Sources of Information

Business

A must read- Chief Justice caught in drama over collapsed banks

A must read- Chief Justice caught in drama over collapsed banks

Business
Chief Justice Sophia Akuffo Chief Justice Sophia Akuffo, on Monday surprised many people following the uniCredit Savings and Loans Company case against the Bank of Ghana (BoG) over the recent revocation of its license, when she changed the High Court Judge sitting on the case filed by a shareholder of the company, leaving the courtroom with lots of unprintable speculations. (more…)
NAM1 to make third appearance in Dubai court over $23m deal on Valentine’s Day

NAM1 to make third appearance in Dubai court over $23m deal on Valentine’s Day

Business
Nana Appiah Mensah (NAM1), Chief Executive Officer (CEO) of the troubled gold dealership company, Menzgold, will make his third court appearance in Dubai over $23m deal on Thursday, February 14, where he is facing a misdemeanor charge on deal gone bad. He is currently being held on remand at the Al Barsha police cells. The criminal charge of misdemeanour in Dubai is equivalent to a Second Degree Felony in Ghana and if found guilty he could spend up to two years in prison. A source familiar with the United Arab Emirates (UAE) justice system told the Ghana News Agency (GNA)  he could also face civil charges from the complainant, who is seeking to retrieve $23 million and his failure to pay that money could earn him an additional three-year jail term. Back home the Econo...
Celebrate, emulate Esther Ocloo’s can-do spirit- Oppong Nkrumah

Celebrate, emulate Esther Ocloo’s can-do spirit- Oppong Nkrumah

Business
Information Minister, Kojo Oppong Nkrumah, has praised the legacy and achievements of the celebrated Ghanaian Industrialist, Dr. Mrs. Esther Ocloo and urged young entrepreneurs to emulate her can-do spirit. According to Mr. Nkrumah, the work of Dr. Ocloo should serve as an inspiration to a generation of industrialists and spur innovation and productivity. Mr. Nkrumah was delivering the keynote address at a ceremony in Accra to launch activities marking the centenary celebration of the life of Dr. Mrs. Esther Ocloo who died in 2002 on the theme “honoring a legend of her time”. He said the late renowned industrialist dedicated her life in helping others, especially women and gave many the hope that they too can succeed. “The AGI [Association of Ghana Industries] is a bef
Irish PM says deal ‘can be done’ on Brexit

Irish PM says deal ‘can be done’ on Brexit

Business
Irish Prime Minister Leo Varadkar on Friday said he believed “a deal can be done” to avoid a disorderly British exit from the EU, after a meeting with a key ally of British Prime Minister Theresa May that he said went very well. Varadkar, due to meet May for a working dinner in Dublin later on Friday evening, said talks with Northern Ireland’s Democratic Unionist Party showed there was “more that unites us than divides us when it comes to Brexit.” The DUP, which props up May’s government, has been one of the fiercest critics of Britain’s exit deal with the European Union, which parliament in London has rejected. In particular, the DUP has led opposition to the contentious “backstop” provision, an insurance policy meant to keep the border between euro zone state Ireland and th
Ghana is front runner in meeting the single currency criteria – Bawumia

Ghana is front runner in meeting the single currency criteria – Bawumia

Business
Vice President Dr Mahamudu Bawumia on Friday said Ghana is the most compliant country in the last assessment of the member states of the West African Monetary Zone status of compliance aimed at establishing a single currency by 2020. He added that, the nation emerged the second-best performer in terms of trade integration and ECOWAS trade related protocols, and looking forward to sustaining the good performance and even performing better. He noted that Ghana has met three out of the four macroeconomic convergence criteria and has attained all the secondary criteria outlined towards the establishment of a monetary union in the sub-region. Vice President Bawumia, therefore, urged member countries of WAMZ to build resilient economies that could withstand external economic shocks...
3rd Ghana Beverage Awards Launched

3rd Ghana Beverage Awards Launched

Business
Catherine Abelema Afeku, Ernest Boateng (3rd R) and other officials of GBA at the launch As part of the “See Ghana, Eat Ghana, Wear Ghana, Feel Ghana” campaign, Global Media Alliance (GMA) introduced Drink Ghana at the launch of the third edition of the Ghana Beverage Awards (GBA). Under the theme, Drink Ghana, Inspiring Excellence in Ghana’s Beverage industry, this year’s GBA will promote beverages especially local ones. It’s part of efforts to complement the work of the Ghana Tourism Authority and Ministry of Tourism, Arts and Culture in igniting the ‘I am Ghanaian’ spirit. The launch saw the introduction of four additional categories into the awards scheme to honour more players in the beverage industry. The new categories include Internation
Vodafone Protests Listing On GSE

Vodafone Protests Listing On GSE

Business
Gayheart Mensah Vodafone Ghana says it’s not prepared to list on the Ghana Stock Exchange (GSE). A press statement issued in Accra recently and signed by External Affairs Director, Gayheart Mensah, said the acquisition of 4G licence does not mandate it to launch an IPO. “We refer to media publications in which the leadership of the Ghana Stock Exchange (GSE) is reported to have indicated that Vodafone must be compelled to list on the bourse following its recent acquisition of 4G LTE Licence. “The 4G LTE License conditions do not mandate licensees to launch an IPO on the GSE and nowhere in the bid documents or the licence condition is reference even made to listing. The notion of compelling Vodafone to list on the GSE is therefore misplaced. It said the bidding process f
‘Reduce Gas Prices To Aid Industrialisation’

‘Reduce Gas Prices To Aid Industrialisation’

Business
Government has been urged to take a critical look at the gas sector and review prices. “If we want to be competitive, if we want to support industrial growth, then ultimately it means that the price of power that people pay has to come down. The pricing of gas, which is the fixed stock for power generation, is important. “Ultimately, we know that if the price for gas is low, electricity tariffs will be low. Then you create jobs, then you have more revenues coming to government. This would boost industrialisation, create more jobs and wealth for the people,” Dr Theophilus Acheampong, an Energy Economist, said on Monday. Dr Acheampong, who doubles as senior fellow at IMANI, made the call at a workshop on gas utilisation, gas pricing and inclusive development organised by IMANI
NEIP CEO Meets Gujarat Team

NEIP CEO Meets Gujarat Team

Business
John Kumah flanked by some officials at the summit in India Ghana will soon partner officials of the 2019 Vibrant Gujarat Global Summit to organise a global entrepreneurship summit in Ghana. John Ampontuah Kumah, CEO of the National Entrepreneurship and Innovation Plan (NEIP), who made this known, said the summit would attract many businesses around the world, especially from India, to explore opportunities in Ghana and partner local firms. Mr Kumah was recently in Ahmedabad, India to participate in the ongoing 2019 Vibrant Gujarat Global Summit.  “I met government officials and organisers of the programme to explore avenues of helping Indian businesses set up in Ghana.  I met the chairman of the organizing committee of the 2019 Vibrant Gujarat Global Summit, Kam