Business Archives - Page 4 of 383

06 Feb

GRIDCo Assures Public Of Stable Power Supply During WAPCo Maintenance

CUD Wontumi0 CommentsBusinessGRIDCo

The Ghana Grid Company Ltd (GRIDCo) has assured the public that measures are in place to prevent power outages, commonly known as dumsor, during the rescheduled maintenance by the West Africa Gas Pipeline Company (WAPCo). The maintenance, which commenced on February 5, is expected to be completed by March 2, 2025. In a joint statement, GRIDCo and the Electricity Company of Ghana (ECG) confirmed that, under the leadership of the Ministry of Energy and Green Transition, significant volumes of liquid fuel have been secured to power key plants in Tema as an alternative energy source. Speaking to Accra-based Citi Business News,…

06 Feb

GPHA Workers Union Cautions Against Demonstration To Remove Its Director-General

CUD Wontumi0 CommentsBusinessGPHA

The Local Unions of Ghana Ports and Harbours Authority (GPHA) has cautioned individuals who are planning to stage a demonstration to call for the removal of the Director-General of the Authority. In a release signed by the Local Union Chairman, Emmanuel Arhin, on February 3, 2025, they noted that the appointment and dismissal of the Director General of GPHA is the sole responsibility of the president of the Republic of Ghana. "We have every confidence that the president will exercise this responsibility at the appropriate time, taking into consideration the best interests of the organisation and the nation," parts of…

06 Feb

GREL’s Factory On Verge Of Shutdown Over Illegal Mining Activities

CUD Wontumi0 CommentsBusinessGhana Rubber Estates Limited

Ghana Rubber Estates Limited (GREL) faces one of its factories’ potential shutdown due to severe encroachment on its plantation by illegal mining activities. “We are unable to access parts of the plantation. Once the land is taken over the trees are destroyed, leading to a loss in production,” said Perry Acheampong, Corporate Affairs Manager-GREL. Mr. Acheampong disclosed this to the B&FT and lamented that illegal mining activities are threatening the company’s operations and sustainability. GREL, the largest processor, operates two factories in the Western Region with a combined capacity of 20 tonnes per hour. Other processing factories include NARUBIZ Ltd.…

06 Feb

Cedi Trades At GH¢15.45 To $1 On Interbank Market

CUD Wontumi0 CommentsBusinessCEDI, dollar

Ghana's local currency, the cedi, has recorded marginal gains against major trading currencies, particularly the US dollar, at some forex bureaus. In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢15.44 and a selling price of GH¢15.45 to a dollar. The British pound is being bought at GH¢19.32 and sold at GH¢19.35, while the euro trades at a buying price of GH¢16.08 and a selling price of GH¢16.10. Checks by GhanaWeb Business on February 6, 2025, at 8:40 AM indicate that the cedi is trading at GH¢15.90 to the dollar, while the pound…

06 Feb

Container Pile-Up At Tema Port Drops By 21.7% After Customs’ Intervention

CUD Wontumi0 CommentsBusinessTema Port

The Acting Head of the Ghana Customs Laboratory, Samuel Akrofi, has said the Customs Division of Ghana Revenue Authority (GRA) has successfully reduced the number of uncleared containers at the Tema Port from 4,600 to 3,600, marking a 21.7 percent drop within ten days. According to him, the pile-up, which started in July 2024 due to scanner breakdowns, had been slowing down trade and increasing congestion at the port. “The breakdown of scanning equipment led to delays in processing cargo. By December, the number of containers at the Meridian Port Services (MPS) had risen to 4,600. The situation was getting out of…

05 Feb

NIA Implements New Fees For Ghana Card Services At Premium Centres

CUD Wontumi0 CommentsBusinessNIA charges

The National Identification Authority (NIA) has announced updated fees for the registration of the National Identification Card, also known as the Ghana Card, at designated registration centres. According to a notice posted on the NIA’s official Facebook page on Tuesday, February 4, 2025, the charges for services such as first-time registration, card replacement, and record updates have been revised. The notice clarified that these fees apply only at specific registration centres. The updated fees are as follows: • First-time registration: GH¢310.00 • Record updates: GH¢310.00 • Card replacement: GH¢420.00 • Simultaneous record updates and card replacement: GH¢355.00 • Nationality updates:…

05 Feb

Minority Threatens To Petition IMF Over Dropped Charges Against BoG Acting Governor

CUD Wontumi0 CommentsBusinessimf, Minority, Petition

The Minority in Parliament has strongly criticised President John Dramani Mahama for allowing the discontinuation of criminal charges against Dr. Johnson Pandit Asiamah, the acting Governor of the Bank of Ghana (BoG). Addressing a press conference on Wednesday, 5th February, the Minority, led by the Member of Parliament (MP) for Tano North, Dr. Gideon Boako, insisted that the prosecution should be allowed to proceed despite Dr. Asiamah’s appointment. They argued that dropping the charges raises serious concerns about governance and accountability. According to the Minority, the decision to discontinue the case could have far-reaching economic and political consequences for Ghana.…

04 Feb

New BoG Governor Should Not Engage In Official Duties Until Approved – Afenyo-Markin To Mahama

CUD Wontumi0 CommentsBusinessAfenyo Markin

The Minority in Parliament has raised objections to Dr. Johnson Asiamah assuming office as Governor of the Bank of Ghana (BoG) before receiving formal approval from the Council of State. Dr. Asiamah was nominated by President John Dramani Mahama on January 31, 2025, following a request by outgoing Governor Dr. Ernest Addison to proceed on leave ahead of his retirement on March 31, 2025. However, in a letter to President Mahama dated February 4, Minority Leader Alexander Afenyo-Markin argued that Dr. Asiamah should not perform official duties until his appointment is approved. He emphasized that with the Council of State…

04 Feb

MASLOC CEO Resigns

CUD Wontumi0 CommentsBusinessHajia Abibata Shanni Mahama Zakariah

The Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), Hajia Abibata Shanni Mahama Zakariah, has officially resigned with immediate effect. Her resignation letter, dated 31st January, 2025, was addressed to the Chief of Staff at the Office of the President and copied to the Secretary to the President. It was officially received on 4th February, 2025, by the Chief of Staff. According to her, the appointment was a privilege to serve and contribute to the growth and success of MASLOC. However, she says it is the right moment for her to step down and allow new…

04 Feb

First Deputy Governor Of BoG Dr. Maxwell Opoku-Afari Resigns

CUD Wontumi0 CommentsBusinessDr Maxwell Opoku-Afari

The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari, has resigned. A letter from the Bank of Ghana, dated February 4, 2025, revealed that Dr. Opoku-Afari decided to proceed on leave from February 5, prior to the end of his contract, and has received approval from President John Mahama. “Dr. Opoku-Afari was appointed on August 7, 2017, for his first four-year term as First Deputy Governor and re-appointed for a second term on August 7, 2021,” the statement said. “In line with the BoG Act 2002 (Act 612) as amended, his tenure as First Deputy Governor…