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Deposit-taking Oboanipa Ventures not licensed – BoG

The Bank of Ghana has warned against “unlicensed deposit-taking activity” by Oboanipa Ventures Limited. In a statement signed by Secretary Caroline Otoo, the bank said Oboanipa Ventures Limited is operating a deposit-taking business without the requisite licence. It said Oboanipa is operating contrary to section 6 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The central ...

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S&P revises Ghana’s outlook to positive

Ghana’s economic outlook has been revised from stable to positive by rating agency Standard & Poor’s. The country’s 'B-' long-term and 'B' short-term foreign and local currency sovereign ratings have also been affirmed by the rating agency. The outlook on the long-term ratings was revised to positive from stable. S&P said the revision was informed by measures being undertaken by the Government of Gh ...

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MTN appoints new Regional Vice Prez

MTN Group has announced the appointment of Ebenezer Asante as Vice President (VP) of the expanded South& East Africa and Ghana (SEAGHA) Region, effective 1 October 2017. The role became vacant when then VP, Godfrey Motsa, was appointed CEO of MTN South Africa. Karl Toriola, VP for West and Central Africa (WECA) Region, has been managing the portfolio of operations in the SEA region in an acting capacity ...

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MTN awards 20 scholarships to teachers

As part of activities commemorating the World Teachers Day that was celebrated on Thursday October 5, 2017, MTN Ghana Foundation has presented scholarships to 20 public school teachers to upgrade their education at the First or Master’s Degree level at the University of Cape Coast or the University of Education, Winneba. Out of the 20 beneficiaries, 10 will be pursuing a first degree, while the other 10 wil ...

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Tourism Authority engages PURC over billing of Hoteliers

The Ghana Tourism Authority has begun discussions with the Public Utilities Regulatory Commission (PURC) over the cost of power to hoteliers, as part of government’s plans to subsidise electricity bills for operators in the hospitality industry. This discussion has become necessary given the high cost of electricity to hotels, a development that has led to the collapse of many budget hotels across the count ...

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Sole-sourcing looters’ll not be spared – Safo

The Minister of State in charge of Public Procurement, Sarah Adwoa Safo, has issued a warning to all public and civil servants involved in procurement processes in their respective institutions to be wary of the Public Procurement Act since any breach of the law will attract severe sanctions. With particular reference to sole sourcing, she said under the leadership of President Nana Addo Akufo-Addo, the era ...

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Int’l cocoa giants ‘poised’ to pursue local processing in Ghana

The President of the World Cocoa Foundation, Richard Scobey, has said WCF is interested in working with the government of Ghana towards processing more cocoa locally in the West African country to create more indigenous employment and also bolster the local economy. Speaking at the 70th anniversary of the Ghana Cocoa Board (Cocobod) in Kumasi, the capital of the Ashanti region, Mr Scobey said: “Two weeks ag ...

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Armyworm defeated – Dep Minister-designate

Kennedy Osei Nyarko, Deputy Minister-designate for the Ministry of Food and Agriculture, has revealed that the government has clamped down on the fall army worm invasion. The army worms plagued a lot of farms in the country, destroying several crops. Mr Nyarko, who was appointed the Deputy Minister-designate by President Nana Addo Dankwa Akufo-Addo and announced on the floor of Parliament by the Speaker, Pr ...

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Ecobank launches mVisa in 33 African countries

Ecobank has partnered with Visa to launch Ecobank Scan Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P). Ecobank Scan Pay with mVisa del ...

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NCA approves Tigo, Airtel merger

The National Communications Authority has given approval for the merger between Bharti Ghana Limited (Airtel) and Millicom Ghana Limited (Tigo), to proceed subject to some conditions. A statement from the NCA on Monday evening indicated that the merger will result in an entity which will be the second largest mobile network operations in the country. The merger, which was first announced in March 2017, requ ...

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