Today's Ghana Business, Banking and Economic news

Smartphones are increasing opportunities in Ghana and about 70% of micro-entrepreneurs are likely to face difficulties continuing their business without a smartphone, a new report published by the Vodafone Group.

Saltpond Oil Field, Ghana’s oldest oil producing field, is to be decommissioned.

 Parliament has started discussing the legality of the mobile money system being operated by the telecommunication companies in the country.

The Minister of Finance, Mr Seth Terkper has explained that allowances and pensions are being taxed under the new income tax law, Act 896, 2015, because they are all forms of income no matter how they are earned.

Managing Director of Airtel Ghana, Lucy Quist was last Saturday named as the Telecom CEO of the year at the Ghana ICT and Telecom Awards (GITTA) at the Kempinski Gold Coast Hotel.

The Securities and Exchange Commission (SEC) has given the green light for the  Agricultural Development Bank (ADB) to go ahead with its public listing.

MTN has lost the title of Africa’s most valuable telecommunications company to its rival Vodacom.

Executive Director of IMANI Ghana, Franklin Cudjoe thinks the migration of public sector workers onto the Single Single Spine Salary Structure (SSSS) was very “unwise” on the part of past managers of the economy.

While many Ghanaians are happy with social media services like WhatsApp, IMO, Skype and Viber for their 'free' call making abilities, telecommunication companies in the country seem not to be as happy as users.

Mr Eleazer Nyaunu, the Tema Regional Officer of the Industrial and Commercial Union (ICU) has called on government to put proper measures in place to boost Ghana’s business environment in order to prevent companies from relocating to other countries in the sub-region.

Dr Philomena Nyarko's tenure as government statistician is expected to next month, it has been revealed.

Recent increases in fuel and utility tariffs have combined to drive inflation to a six-year high.

The Dangote Group owned by Africa’s richest man, Aliko Dangote on Sunday began construction of a $1 billion cement factory in Okpella, Edo state. It was a double ceremony as the billionaire businessman was also born on Sunday, April 10th.

 

According to the News Agency of Nigeria, the six million metric tonnes per annum (mmtpa) Okpella plant and the upcoming six mmtpa plant in Itori, Ogun State will increase the company’s local production capacity to 41 mmtpa annually.

The project which will be completed within 26 months will create 6,000 direct jobs and 45,000 indirect jobs in the community.

Speaking at the ceremony, Dangote said that the project will meet local demands for cement, as well as surplus for export and foreign exchange generation. He also urged other investors to look at other investment opportunities in Nigeria, saying the Federal government have created investor friendly policies to boost investments.

He also said that economic reforms in the areas of tax, innovations in rural finance, and investment in infrastructure made him invest in the state.

Gov. Adams Oshiomhole of Edo State said that the investment will reduce the state’s dependence on federal allocation and boosts its internally generated revenue.

The Monarch of Okpella, Alhaji Yusuf Dirisu also pledged support from his community while commending the commitment of the Dangote Group to the establishment of the plant.

Minister of Solid Minerals, Kayode Fayemi and Minister of Trade, Industry and Investment, Okechukwu Enelamah represented by Aisha Abubakar, the Minister of State for Trade, Industry and Investment who both lauded the efforts of the business mogul to diversification of the economy and overall nation building.

bellaNaija.com

Two restaurants in the national capital, Odo Rice and Mr. Biggs, risk closure today if they fail to comply with an ultimatum given by the National Fire Service on fire safety at their premises.

 

A visit by the national fire service to some commercial centres last Friday, revealed non-compliance by these restaurants.

In addition to the unserviceable fire extinguishers at both eateries, Mr. Biggs also had faulty electrical wiring as well as non-functioning early warning systems.

Unsatisfied, with the situation at hand, the Greater Accra Regional Fire Officer, Ebenezer Simpson issued a 24 hour ultimatum for the situation to be rectified.

Speaking to Citi Business News on the next move, Ebenezer Simpson disclosed of a possible shut down of the two premises if they fail to meet the deadline.

“We will be going back to Mr. Biggs and Odo Rice today to find out whether they have complied with the directive we gave last Friday….when we go there and these things are not functioning or they have not repaired them, we will revoke their fire certificate. This will also mean they have flouted the fire regulations Act as such, we will arrange for their conviction.”Ebenezer Simpson noted.

He added, “The place will no longer be safe for public consumption so we are going to close down the place.”

Meanwhile management of Grand View Hotel, located in Accra central, have a week to correct an obstruction to its entrance to allow accessibility in case of an emergency.

Regional Fire Officer, Ebenezer Simpson tells Citi Business News the Fire Service will shut down the hotel if it also fails to meet the one week ultimatum.

“We expect that their entrance will be cleared of any obstruction. The initial thing to do is to ensure that the structure that they are constructing at the frontage of the entrance is cleared to make it more accessible than it is now. So within one week if they have not done anything, we are going to revoke their fire certificate meaning the place is not safe to be used by the public. We will also put measures in place to get the place closed down.”

citifmonline.com