Today's Ghana Business, Banking and Economic news

Three institutions have secured Bank of Ghana’s approval to operate as a commercial bank in the country. They include Sovereign Bank, an institution made up some Ghanaian investors and foreign partners, Union Savings and Loans and Heritage Bank.

The Royal Bank (TRB) Limited-Ghana, has since its establishment three years ago, provided training and employment to more than 200 fresh graduates from the country’s universities, to help create employment and bridge the widening gap between the academia and corporate world.

The Chief Executive Officer of Joy Industries Ltd, Dr Manfred Takyi, has appealed to the government to provide tax holidays to indigenous Ghanaian companies to assist them to grow. He has also advocated for the establishment of a special fund to support local industries which are performing well and which seek to expand beyond the frontiers of the country.

The Private Enterprises Federation (PEF) has urged government to decentralize the application process in acquiring licenses and permits through the use of an electronic platform with complementary bank accounts to reduce delays and save time.

The Government of Ghana and the European Union (EU), on Monday signed a financial agreement of Euro 31.6 million for the new Ghana Employment and Social Protection (GESP) Programme in Accra.

Mining giants AngloGold Ashanti has said 11 of their staff lost their lives in the line of duty in 2015.

According to the mining outfit, the figure underlines “safety as the most pressing challenge, primarily at its South African operations.”

 

Telecom network operators in the country’s mobile telephony space are increasingly disturbed that the current macroeconomic uncertainties and high cost of living could limit consumer spending on telecom services and also affect the sustainability of their business.

 Following the rising Non-Performing Loans (NPLs), banks in the country have begun reviewing their credit policies in order to reduce bad debts on their books.

 

Savannah Accelerated Development Authority (SADA), in collaboration with the Ghana Trade Fair Company Limited, is ready to commence the 20th International Trade Fair in Tamale from next week.

Director responsible for public affairs and environment at the Ghana Chamber of Mines, Ahmed Nantogmah, has called for the immediate eviction of illegal miners trespassing on mining concessions.

The Minister of Finance, Mr Seth Terkper, says the economy is on the track to recovery and with the assistance of the International Monetary Fund (IMF), it is expected that the country would avoid the slippery path of previous election years.

The chief executive of Google, Sundar Pichai, has been awarded $199m (£138m) in shares, a regulatory filing has revealed.

The International Monetary Fund (IMF) has charged governments in Africa to take statistics seriously and publish quality and reliable data regularly.

Deputy Public Relations Officer of the Ministry of Trade and Industry Nasir Ahmed Yartey says it is near impossible for Ghana to unilaterally stay away from implementing the Economic Community of West African States (ECOWAS) external tariff meant to streamline the tax slapped on imported goods in member countries.

Deputy Minister of Transport Dr. Joyce Bawa Mogtari says the Ghana Airport Company has secured a $250 million syndicated loan facility from Ghanaian Financial Institutions to refurbish airports in the country.