The value of transactions carried out on mobile money platforms for the first quarter of this year reached over ¢66 billion. This was contained in the latest statistics covering electronic payments from January to March this year. There are currently three operators in the mobile money space that is MTN, Vodafone and Airtel/Tigo. The statistics …
Month: May 2019
A Canadian investment advisor and CEO of Gorab Advisors, Richard Gorab, has stated that investors are still confident with doing business in Ghana despite the banking crisis that hit the country two years ago. According to him, it takes more than a shake-up in the banking sector for investors to lose confidence in investing in …
The Managing Director of Tullow Ghana has disclosed that the company has awarded contracts totalling $10.6 billion to indigenous companies and joint ventures in which local companies are partners. Kweku Awotwi said the expansion of Ghana’s upstream sector, with new entrants coming in, sets the sector up nicely for further growth. Pondering on how the …
The government has secured the funds that the Bank of Ghana (BoG) requested to be able to clean up the operations of Non-Bank Financial Institutions (NBFIs) and make them more solid to be able to support economic growth meaningfully, the Minister of Finance, Mr Ken Ofori-Atta, has disclosed. The ministry recently ring-fenced the GH¢700 million …
World Bank has approved $19.39 million for Ghana to help reclaim mining areas destroyed by activities of “Galamsey” operators. The funds would be disbursed in rural communities where mining activities occurred. The regions that have been named to benefit from the fund are the Bono Region, Ahafo Region, Ashanti Region, Eastern Region and the Western …
The governments of Japan and Austria have approved a $1 million fund to strengthen the participation of the private sector in combating climate change. The funding will be channeled to the Africa Private Sector Assistance (FAPA) grant, which aims to expand the role of the private sector in the Nationally Determined Contributions (NDCs) of African …
The African Export-Import Bank (Afreximbank) has released its abridged unaudited financial performance for the first quarter of 2019, showing a 59% growth in total revenues to $240.71 million compared to the $151.17 achieved during the same period in 2018. The results, released in Cairo, show that the Bank achieved a 28% growth in attributable income …
After five months of nurturing their new ideas, participants in the 2019 AgriTech Challenge will pitch their business plans to a panel of expert judges for the first time Thursday. The young entrepreneurs have been coached through a series of business development courses and have taken part in in-depth market research tours in order to …
The finance ministry has released about GH¢1 billion to help with the cleanup of the microfinance and rural bank sectors. Sources say the funds were released earlier this month for the project. Background Some microfinance companies over the last two years have been hit by some financial challenges resulting in the collapse of their businesses. …
IFC, a member of the World Bank Group, is partnering with the Ghana Stock Exchange and over 70 other stock exchanges around the world to “Ring the Bell for Gender Equality”—an initiative linked with International Women’s Day that promotes increased women’s participation in the global economy to catalyze sustainable and inclusive private sector growth. Accelerating …