Prime News Ghana

Today's Ghana Business, Banking and Economic news

Will the new national airline fly?

The proposed establishment of a new national airline, after the demise of Ghana Airways and its successor, Ghana International Airlines, has been in the works for about two years.

Italy's biggest bank set for 14,000 job cut

In a series of economic storms that has hit Eurozone’s third largest economy following prime minister Matteo Renzi's resignation, Italy's biggest bank plans to raise €13 billion ($13.8 billion) and slash thousands of jobs to boost its finances.

Beyond the Fanfare: Akufo Addo and the challenges of an ailing economy

It might seem like an endless period of generous fanfare for Ghana’s President-elect, Nana Akufo Addo but as the staggering realities in the country would sooner or later prove that this supposed honeymoon like the moonlight is set to fade away under the dark clouds of the nation’s economic night.

OmniBank offers free SME training to fashion designers

Over 80 graduates of Abbi Creation University College have benefitted from a free capacity training at OmniBank’s SME clinic. The mentorship programme is aimed at aiding the new fashion designers in developing their skills to enable them build sustainable businesses.

Fuel Prices reduced at the pumps by 1 to 4%

Chamber of Petroleum Consumers Ghana(COPECGH) has announced a drop in fuel prices across most oil marketing companies (OMCs) between 1 to 4.23 percent barely a day to end the of the final pricing window for the month of November.

An Icebreaker: WTO rules Boeing's state subsidies illegal

Whether or not to maintain government subsidy on certain products or services in a bid to make them accessible or affordable has created considerable debate in most countries and has even resulted in major labour actions in those places.

Vodafone Cash instrumental in the growth of the financial sector

Ghana’s financial services sector is yet to reach majority of the non-bankable population but the introduction of mobile money has over the years ensured that many Ghanaians have moved into mainstream financial services, Head of Service at Vodafone Ghana, Martison Obeng- Agyei has said.

A House Divided Against Itself: the Tata Power Struggle

Over the last few decades or perhaps a century, the Asian economy has produced many global enterprise leaders ranging from the electronic or tech giant - Panasonic, online market place or store, Alibaba, Huawei, etc. In the midst of this fiercely competitive Asian market one firm keeps towering high perhaps for nearly a century and half now, the name; Tata.

Spanning over 148 years now, Tata Group is India’s largest conglomerate with stakes in more than 100 independent companies, several of which bear the Tata brand and a stunning 660,000 employees: Tata Group is just the consummate example of a truly global brand. But that towering status or glittering reputation has somewhat been tainted in the last few months (at least from when it became apparent to the public) following its internal power struggle that has resulted in the probable dismissal and subsequent replacement of its chairman, the Irish – Indian business man, Cyrus Mistry. All these events have drawn the attention of the public in a bid to reconcile what Tata has been known for and the actual realities in the organization. It was once remarked by Prof. Kulwant Singh of the NUC Business School in Singapore that, “ there is a great sense of pride in being a staff member of a Tata company and that follows from the ethical standards that the senior leaders have held themselves to”. Now there is little to be said of those ethical standards with its numerous employees uncertain about who really is at the helm of affairs and a watching world puzzled by how easily a brand of Tata’s repute could be so easily thrust into a near self-destructive power saga.

Now, with Mistry’s family holding 18% shares of the group since 1930s and an obviously reasonable number of supporters among the ranks of the Tata companies (Motor, Steel, Beverages, etc.) as well as the Tata sons opting for the company’s patriarch, Ratan Tata as a replacement for the ousted chairman coupled with speculations captured in the words of Prof. Singh that “there appear to be factions that have emerged within the boards of Tata companies” and that “at least some of these board members are reluctant to follow through on Tata’s Sons’ attempt to oust him[Cyrus Mistry]”, one cannot but wonder at what would become of this feud.

Korle Bu Teaching Hospital commends Vodafone Ghana

The management of the Korle Bu Teaching Hospital has commended Vodafone Ghana for ensuring the bills of financially challenged patients are paid through its annual Homecoming initiative.

Workers of Apex Bank goes red in protest of MD’s retainment

The workers’ union (Apex Union) at ARB Apex Bank Limited has declared “two days of red,” in protest of among other things, the renewal of the tenure of office of the Managing Director(MD), Mr. Kwadwo Aye Kusi which will end in December.

Nine questions to ask before taking a loan

A loan is an arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point(s) in time. Usually, there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay a loan (though modern capital markets have developed many ways of managing this risk).