Business

The Bank of Ghana (BoG) has announced GHS20 million as the minimum capital required for operating a mobile money company in the country. The diercetive comes on the back of the enactment of the Payment Systems and Services Act, 2019 (Act 987) to provide the legal and regulatory framework for …

The Herald has intercepted incontrovertible evidence that indicate that the Bank of Ghana (BoG) received a cash transfer totalling GHS90 million from the now collapsed Heritage Bank Ghana Limited as minimum capital to help meet the requirements of the licence granted its shareholders. The documents indicated that the money was …

The Food and Drugs Authority has announced it has detained some 802 cartons of canned Lucozade over attempts by the importer to change the label of expiry dates from September 2019 to September 2020. The items belonging to Andiana Royal ventures were seized at Hong kong near Lapaze in Accra, …

Management of the state owned Metro Mass Transit company(MMT) Limited has threatened to take legal action against some National Democratic Congress (NDC) Members of Parliament to settle their indebtedness to the company. The company says seven MPs including Samuel Okudzeto Ablakwa, A. B. A. Fuseini, Mahama Ayariga, Amidu Suleman, Alhaji …

The Ghana Cocoa Board (COCOBOD) has given hints that the country’s cocoa farmers would soon have something to smile about in the coming days as far as the pricing of cocoa beans for the 2020/2021 season is concerned. According to Cocobod CEO Joseph Boahen Aidoo, cocoa farmers would have nothing …

Several metric tonnes of maize are going waste in Maame-Krobo in the Afram Plains South District of the Eastern Region due to inadequate buyers. Maame Krobo is known for the large production of maize, however, Maize farmers in the farming community are struggling to get buyers for tonnes of maize …

In an impassioned keynote speech, delivered before global leaders, at the 7th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, African investor and philanthropist Tony O. Elumelu CON, challenged the government of Japan to invest 5% of its $50 billion commitment to Africa, in empowering African entrepreneurs.   …

COPEC-Ghana has called on the government to reverse the recent hike in fuel taxes. Finance Minister Ken Ofori-Atta announced an increase in fuel taxes when he presented the 2019 mid-year budget review to parliament. Some leading Oil Marketing Companies (OMCs) across the country have increased pump prices effective Sunday, 1 …

The National Tripartite Committee (NTC) has announced that effective January 1, 2020 the National Daily Minimum Wage (NDMW) in Ghana has increased to GH¢11.82. It is an 11 per cent increase from GH¢10.65 figure for 2019. According to the Minister of Employment and Labour Relations, Mr Ignatius Baffour-Awuah, the new …

President of UT Holdings, Prince Kofi Amoabeng has blamed the challenges in the banking sector on the regulator’s poor scrutiny of the sector. In an exclusive interview with JoyBusiness, Mr Amoabeng said banking licenses were issued anyhow and to all sort of people without proper checks causing the current crisis …