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Sarpong appointed as NIB MD

Mr. Samuel Sarpong has been appointed as Managing Director of the National Investment Bank (NIB). Until his appointment, Mr. Sarpong was the Managing Consultant at OrgResilence Consult Limited.Mr. Sarpong has a vast and diverse working experience and will be leading the transformation of NIB to reposition it as one of the leading Ghanaian owned banks and a significant player in supporting the nation’s indus ...

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Invest in digital infrastructure – World Bank Africa Report

The latest edition of the World Bank Africa’s Pulse report has urged African countries to as a matter of urgency increase their investments in digital infrastructure as a way of engendering a digital economy which holds the key to turnaround the non-impressive growth saddling the continent.The World Bank’s bi-annual analysis of the state of African economies released on Monday said the continent’s economic ...

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Tema Port, MPS deal to be renegotiated

President Nana Akufo-Addo has given an assurance that his administration will renegotiate portions of the concession agreement for the Tema Port terminal with Meridian Port Services (MPS).After a closed door meeting with the leadership of the Maritime and Dockworkers Union (MDU) and workers union of the Ghana Ports and Harbours Authority (GPHA) at the Jubilee House in Accra yesterday, the Daily Graphic gath ...

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Bank of Ghana explains why GHS2, GHS5 aren’t upgraded

The Bank of Ghana has explained that the GHS2 and GHS5 notes are not part of the upgraded currencies introduced into circulation on Monday, May 6, 2019 because they are "standalone commemorative banknotes".“In line with international best practice, commemorative banknotes are not subject to upgrades,” the Bank of Ghana said in a statement issued Tuesday evening.In keeping with its commitment to improve the ...

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RMG injects US$10m into cotton seed production

RMG Ghana Ltd, a leading agricultural input distribution company, has injected US$10 million into revamping of cotton seed production .The five-year project to be implemented by Wienco Cotton Ltd with a target of increasing the units of cultivation from the current 4,000 to 50,000 units is aimed at boosting the cotton sector to feed the fabric industry to enhance economic growth.The support also included th ...

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Right fertiliser use will help achieve cocoa target

The General Manager of Agricultural Manufacturing Group (AMG), Mr. Henry Otoo-Mensah, is optimistic that the country’s anticipated cocoa harvest target of one million metric tonnes for the next crop year is achievable if farmers adopt and use the right fertiliser.He noted that the introduction of fertiliser products – particularly such ones offered by AMG including ‘Cocoa Nti’ fertiliser – will help to real ...

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US$170m to be saved in rice, maize imports

The country is expected to reduce its rice and maize imports by an estimated US$170million, with completion of the Pwalugu multi-purpose project in the Northern Region.An estimated US$1,162million of rice and US$16million worth of maize was imported in 2016. The importation of these important agro products, however, were reduced in 2018 following success of the planting for Food and Jobs Programme.Ing. Kwak ...

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SSNIT eyes 13m informal sector workers by 2020

The Social Security and National Insurance Trust (SSNIT) says it is to roll out a product next year that covers the over-13million workers in the informal sector.“We have constituted a team that has been working on a product that is customised and suited to that market segment, to be rolled out by end 2020,” Dr. John Ofori Tenkorang, Director-General, said at a media conference held at Aburi last SaturdayTh ...

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Annual tax filing to go digital

The Ghana Revenue Authority (GRA) is considering introducing Integrated Tax Application and Preparation system (iTaPS) to enhance individual annual tax filing.iTaPS, christened ‘Tax made digital’ and expected to be officially launched by Vice-President Dr. Mahamudu Bawumia next week, is to aid in the electronic filing of Annual Tax Returns (ATR) by taxpayers.It is also targetted at improving the ease of doi ...

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Total cash locked up at Menzgold unknown – SEC

The Securities and Exchange Commission (SEC) says it has no idea how much of depositors’ funds and the number of affected individual and institutional investors whose cash are locked up in the gold-dealership firm Menzgold.Rev. Daniel Ogbarmey Tetteh, Director-General of the SEC, at a press conference in Accra yesterday said: “When we gave the directive to Menzgold to stop issuing new contracts, we had alre ...

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