Business Archives - Page 8 of 392

04 Mar

Gold Board Concept Needs Clarity – Abu Jinapor

CUD WontumiBusinessAbu Jinapor, Gold board

The Member of Parliament for Damongo Constituency, Samuel Abu Jinapor, has called on the government to clarify issues relating to the proposed Gold Board. The former Minister of Lands and Natural Resources said the concept raises more questions than answers, and the government must provide clarity to sustain investor confidence in the country’s mining sector. The Gold Board is one of the governing National Democratic Congress' (NDC) manifesto promises for the mining sector. Despite being described as one of the government’s top priorities for economic revitalization, the concept remains unclear to several actors in the mining industry. On January 27,…

03 Mar

Minority Vows To Resist New Tax Increases

CUD WontumiBusiness

The Minority has strongly opposed any move by the government to introduce new taxes or increase existing ones, warning that such measures will further burden Ghanaians. Addressing a press conference on Monday, March 3, former Minister for Finance Dr. Mohammed Amin Adam criticized the government’s tax revenue target of GH¢200 billion for the year, arguing that it is unrealistic given the current state of the economy. Dr. Amin Adam accused the government of hypocrisy, recalling how it previously criticized the New Patriotic Party (NPP) administration for overtaxing Ghanaians. “This is how they intend to tax Ghanaians to collect their target…

03 Mar

Mahama Is Back Again With Blame Game – Minority

CUD WontumiBusinessMahama, Minority

The Minority has accused President John Dramani Mahama of engaging in yet another round of blame game as he leads the National Economic Dialogue. Addressing a press conference on Monday, March 3, former Minister for Finance Dr. Mohammed Amin Adam criticized the President’s approach, arguing that he was shifting responsibility rather than presenting concrete solutions to Ghana’s economic challenges. Dr. Amin Adam dismissed the dialogue as a repetitive exercise lacking fresh ideas, suggesting that President Mahama’s leadership style had not changed. “Ladies and gentlemen, we are back there with another round of blame game and another National Economic Dialogue, and…

03 Mar

These Are The Five Cryptocurrencies President Trump Has Picked For A New US Strategic Reserve

CUD WontumiBusinesscurrencies, President Trump

US President Donald Trump has revealed the names of five cryptocurrencies that he says he'd like to be included in a new strategic reserve to make the US "the Crypto Capital of the World". The market prices of the five coins he named - Bitcoin, Ethereum, XRP, Solana and Cardano - all swiftly jumped after the announcement. During Trump's presidential campaign, he aggressively courted the crypto community. The previous US president, Joe Biden, had overseen a crackdown on crypto due to concerns about fraud and money laundering. It is unclear how the new stockpile will work. More information is expected…

03 Mar

Stop Photocopying Ghana Cards Of Customers – BoG Warns Banks

CUD WontumiBusinessBoG, ghana card

The Bank of Ghana (BoG) has warned banks to desist from photocopying the National Identification Cards (Ghana Card) of their clients for transactions as such a practice would attract sanctions. According to the central bank, biometric verification remained the standard process for identity authentication. The Deputy Head of Financial Integrity of the BoG, Ashitei Trebi-Ollennu, said photocopying of Ghana Cards was susceptible to fraud which could ultimately compromise banking transactions. “We have never said that banks should photocopy Ghana Cards. Photocopying leaves room for fraud and compromises the integrity of transactions,” he said. Instead, banks must authenticate identities directly through…

26 Feb

Dr. Opoku Prempeh Urges African Countries To Prioritize Sustainability For Economic Growth

CUD WontumiBusinessNapo

The former Minister of Energy, Dr. Matthew Opoku Prempeh, has called on African countries to urgently prioritize sustainability to achieve economic growth, social equity, and environmental protection without compromising the future. Speaking at the Alliance for Science (@ScienceAlly) Global Consortium meeting held in Nairobi, Kenya, Dr. Prempeh underscored the continent’s pressing sustainability challenges, calling for decisive leadership and collective action to ensure long-term progress. “Addressing the sustainability of our planet is not an option it is an obligation,” he stated, stressing the need for political leadership that champions sustainability across all sectors. He shared this message in a post via X…

26 Feb

Prioritise PPPs To Bridge Infrastructure Gap – Kojo Oppong Nkrumah

CUD WontumiBusinessOppong Nkrumah

The Member of Parliament for Ofoase Ayirebi, Kojo Oppong Nkrumah, has urged the government to prioritise Public-Private Partnerships (PPPs) as a sustainable means of financing Ghana’s growing infrastructure deficit. Addressing Parliament on Tuesday, February 25, 2025, the former Minister for Works and Housing and Information under the erstwhile Akufo-Addo administration argued that PPPs offer a viable alternative to traditional funding sources, which have become increasingly difficult to mobilise. “Ghana, in the last decade, has faced a critical infrastructure and public service deficit heightened by fiscal constraints, rising debt levels, and limited access to international capital markets. The demand for road…

26 Feb

FDA Responds To BBC Report On Unapproved Drug Imports

CUD WontumiBusiness, NewsBBC Reports, FDA, Unapproved drug imports

The Food and Drugs Authority (FDA) has responded to a BBC Africa Eye investigation exposing the export of unapproved drugs containing tapentadol and carisoprodol by India’s Aveo Pharmaceuticals to West African countries, including Ghana. The FDA clarified that it has not registered or approved these substances for medical use in Ghana. Tapentadol, a potent opioid, and carisoprodol, a muscle relaxant, pose significant health risks, including addiction and severe side effects such as respiratory collapse and confusion. According to the FDA, its Centre for Import and Export Control has not processed any import permits for these substances, making their presence in…

26 Feb

FDA Suspends Aveo Pharmaceuticals’ Certification Over Opioid Smuggling

CUD WontumiBusiness, NewsAveo Pharmaceuticals’ Certificate, FDA, Opioid Smuggling

The Food and Drugs Authority (FDA) has revoked the Good Manufacturing Practices (GMP) certification of Aveo Pharmaceuticals, an Indian drug manufacturer, over its alleged role in the illegal distribution of opioid-based medications to West Africa. The move follows a BBC Africa Eye investigation, which uncovered how Aveo Pharmaceuticals, through Westfin International, reportedly exported unapproved drugs containing tapentadol and carisoprodol to Ghana, Nigeria, and Côte d’Ivoire. These substances, classified as highly addictive opioids, pose severe health risks, including respiratory failure and death when misused. In response to the findings, the FDA has directed Samos Pharma, a Ghana-based importer, to sever all…

25 Feb

Cedi Sells At GH¢15.90 To $1 At Forex Bureaus On February 25

CUD WontumiBusinessCEDI, 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¢15.49 and a selling price of GH¢15.50 to a dollar. The British pound is being bought at GH¢19.57 and sold at GH¢19.59, while the euro trades at a buying price of GH¢16.22 and a selling price of GH¢16.23. Checks by GhanaWeb Business on February 25, 2025, at 9:20 AM indicate that the cedi is trading at GH¢15.90 to the dollar, while the pound…