French-based multinational financial services company, Société Générale, has dismissed rumours suggesting it’s pulling out of the Ghanaian banking sector.
The Ghana Revenue Authority (GRA) in compliance with the recent directives given by President Akufo-Addo on its deal with Strategic Mobilization Ghana Limited (SML), has terminated the transaction Audit and External Verification Service Contract (AEVS) with SML.
Trade officials from Ghana and India have begun the fourth session of the Joint Trade Committee (JTC) meeting in Accra, to strengthen bilateral trade and economic ties between the two nations.
Coca-Cola is gearing up for a potential initial public offering (IPO) of its African bottling business as soon as next year after previously putting the plans on hold, people with knowledge of the matter said.
Glovo, a popular delivery service provider, has announced its decision to cease operations in Ghana effective May 10.
The announcement conveyed through a notice to one of its clients, indicates that Glovo's official customer app will become inaccessible for orders from that date onwards.
This decision comes two years after the company's investment of €3.5 million ($3.7 million) to expand its services in the region.
Regional General Manager Glovo Africa, Dima Rasnovsky, said the development stems from the reassessment of the company’s investment priorities.
“Following a reassessment of the company’s investment priorities, Glovo has decided to cease operations in Ghana by May 10, 2024. Glovo will focus on growing and strengthening its position in other African countries. We thank our teams, partners and riders in the country for the dedication to growing Glovo in Ghana over the last years,” he said.
“While we recognise the potential of the Ghana market, building a stronger position in the market and achieving profitability would require substantial investment over an extended period of time.
“This is why we have decided to redirect our resources towards the other 23 countries where Glovo operates, enabling us better serve the millions of customers who use Glovo app everyday.”
Glovo said it is dedicated to providing the local team with severance pay that exceeds the legislative minimum.
Additionally, all couriers, partners, and customers will receive comprehensive communication from Glovo regarding the closure to ensure they are informed about the situation.
Glovo's operations
Glovo operates in 23 countries across Europe, Central Asia, and Africa, with Africa being a key region for the company. It has a strong presence in countries such as Ivory Coast, Kenya, Morocco, Nigeria, Tunisia, and Uganda.
The company noted that it remains committed to its operations in the remaining countries where it currently operates and believes that this decision will strengthen the platform’s position in the other markets.
Glovo operates in 23 countries across Europe, Central Asia, and Africa, with Africa being a key region for the company. It has a strong presence in countries such as Ivory Coast, Kenya, Morocco, Nigeria, Tunisia, and Uganda.
The company noted that it remains committed to its operations in the remaining countries where it currently operates and believes that this decision will strengthen the platform’s position in the other markets.
The Social Security and National Insurance Trust (SSNIT) has said the unfavourable findings in the International Labour Organisation (ILO) 2020 actuarial valuation reports were based on assumptions that are yet to occur.
In a resounding address at the 2024 International Development Association (IDA) Summit held in Nairobi, President Akufo-Addo of Ghana emerged as a leading voice, advocating for a groundbreaking initiative: the doubling of funding for the IDA.
The Minister of Trade and Industry, Mr Kobina Tahiru Hammond, has called on business leaders in the United States of America to take interest and invest in the agenda of the Government of Ghana for indutrialisation.
The Ghana Union of Traders' Association (GUTA) has called for the immediate release of a load-shedding, ‘dumsor’ timetable, from the Electricity Company of Ghana (ECG), to aid in better business planning for its members.
The management of the Social Security and National Insurance Trust (SSNIT) says the scheme presently receives contributions and has enough funds to pay accruing benefits due members.
The Jospong Group of Companies (JGC) has launched the Jospong-Komptech Waste Academy project to train over 600 staff of Zoomlion and other public officials on integrated solid waste management.
President Akufo-Addo on Wednesday, April 24, 2024 in a momentous ceremony held in Kaleo, officially inaugurated phase two of the Kaleo Solar Power Plant, marking another significant stride in Ghana's renewable energy journey.
President Akufo-Addo has charged heads and officials of state-owned enterprises to adhere strictly to the submission timelines instituted by the State Interests and Governance Authority on the preparation and further publication of State Ownership Reports.
