Prime News Ghana

Today's Ghana Business, Banking and Economic news

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).

Vodafone Ghana honours Farmers

A 28-year-old farmer from Nkoranza in the Brong Ahafo Region, Nicholas Affum has emerged grand winner in the maiden edition of the Vodafone Farmers Loyalty Awards which rewarded 20 most loyal Vodafone Farmers’ Club subscribers at a ceremony in Techiman in the Brong-Ahafo region.

The Big Bet: Samsung sinks $8 billion into Smart Auto

Still in the wake of a massive product failure that threatened to mar its priceless reputation built from years of cutting edge innovations in general electronics and mobile technology, Samsung is out again on one its adventurous moves with technology. This time with perhaps potentially one of the most significant revolution in the auto industry in the 21st century, Smart Cars.

Prez Mahama Opens Major Gold Refinery

President John Dramani Mahama has inaugurated the Gold Coast (GC) Refinery Ghana Limited, which officials say is the largest gold refinery in West Africa and the second largest in Africa.

A New Agenda: Trade under Trump

In a tone that could be regarded as a direct opposite to that of the man we’ve known in the last 500 days of one of the most divisive presidential campaign witnessed in modern history, President – elect Donald Trump promised "great, great relationships" with other nations.