Today's Ghana Business, Banking and Economic news

Syinix, a professional electronics brand committed to becoming a family choice for warm and cosy lives has hit the Ghanaian markets at an affordable price.

Consumers should brace themselves to pay more for the same quantity of goods they purchase at the various markets.

Ghana’s gold output rose to 2.805 million ounces in 2017, up 10.2 percent from the previous year, data from the Ghana Chamber of Mines showed on Friday.

The Road Transport Operators (RTO) today June 1, 2018 announced an increase in transport fares by 10 percent across all categories of services.

The new transport fare will take effect from Monday, June 4, 2018.

In a statement released on Friday, June 1, 2018, the Road Transport Operators stated that the increase in the fares is to help drivers bear the cost of fuel.

“In line with the Administrative Arrangement on Public Transport Fares, the Roads Transport Operators have reviewed the prices of the various components that go into the running of commercial transport service and have increased public transport fares by 10% across all categories of the services. This is to accommodate predominantly  increase in the price of fuel.”

Public service transportation areas that would be affected by the 10 percent increase include, Intracity (Tro-Tro), Intercity(Long Distance) and shared taxis.

The RTO added that the initial increment was 15 percent,  but after series of meetings and consultation with the government, it was reduced to 10 percent.

Road Transportation Operators are urging all Ghanaians to comply with the new fare to avoid any public confrontation at public transportation station and stops.

“Even though we would have preferred an increase of 15 percent, upon consultation with Government, we have agreed to a 10% increase. The government has assured us that it will continue with the effort to prevent a steep rise in input cost. We, therefore, encourage the government to keep to its commitment in this regards.”

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The first fuel pricing window under the Price Liberalization Programme of the National Petroleum Authority (NPA), for the month of June 2018, is set to commence with price of Petrol seeing a 2.8% increase and Diesel with 2.5% increase.

MTN Ghana has launched its Initial Public Offering which has been described by industry players as historic.

Telecommunication Network, MTN Ghana, has officially launched its Initial Public Offer (IPO) as it seeks to sell 35% of its shares to the general public.

Transport fares are likely to go up between 15% and 20% beginning next week, according to the Ghana Private Roads Transport Union (GPRTU).

MTN is expected to give at least thirty-five percent access to the general public to own stake in its operations.

A report released by the World Bank indicates that 7,310,000 people in Ghana do not have any form of financial account.

President Akufo-Addo has called on the Central Bank to look for ways to strengthen the local banks in the country. 

The Bank of Ghana has said its investigations show that gold-buying firm, Menzgold, accepts deposits although it has not been licensed to do so, and thus, intends penalizing the company for the breach.

The Ghana National Petroleum Tanker Drivers Union has called off its intended strike over the issues surrounding oil discharging at the various Oil Marketing Companies (OMCs).

Palm Oil processing and extraction giants - Africa Palm Corporation (APC), in a bid to broaden the frontiers in its operations, has signed a new partnership agreement with the Ho West District Assembly to process and extract Palm oil from Palm fruits on a large scale for mass market consumption.

Cobblers, popularly known as Shoeshine boys are one of the least respected in typical Ghanaian communities, however this KNUST graduate ditched his clinical job to become a modern shoeshine boy.