Business

Ghana’s President, Nana Addo Dankwa Akufo-Addo, has said his country wants her relations with the Russian Federation to be characterised by an increase in trade and investment co-operation, and not by the export and import of raw materials. According to President Akufo-Addo, “This, we believe, is the way to develop …

Troubled gold dealership, Menzgold, will from next week begin verifying documents from customers as part of an elaborate process to settle their locked-up funds. According to a statement from the firm, the validation of documentations regarding claims of the customers will start on October 28 from 9 am to 4 pm each day. The validation …

The Electricity Company of Ghana has announced it has taken full control of power distribution as it terminates its contract with Power Distribution Services (PDS). Consequently, all activities which were hitherto undertaken by PDS have reverted to ECG. In a statement announcing the takeover, ECG said all stakeholders and customers …

Governor of the Bank of Ghana Dr Ernest Yedu Addison has been selected to represent Ghana to Chair Board of Governors of the Bretton Woods Institutions in 2020. At the 2019 Annual Meetings Plenary of the International Monetary Fund (IMF) and the World Bank Group held on Friday, Ghana was selected …

The Economic Community of West African States (ECOWAS) citizens travelling within the sub-region will from January 2020 enjoy no roaming charges following the implementation of the ECOWAS Roaming Initiative. The initiative is aimed at creating an enabling environment for the international mobile roaming market to ensure affordable access to roaming …

The founder of defunct Capital Bank, William Ato Essien, and three other persons have been charged by the state with 26 offences for their roles leading to the collapse of the bank in 2017. Fitzgerald Odonkor, former CEO of the Bank; Dr Tetteh Nettey, owner of MC Management Services Ltd and Kate Quartey-Papafio,  CEO of …

Indigenous oil firm Springfield will begin historic oil drilling in its Deep Water West Cape Three Points Block 2 in the Western Region from Monday. The company is going ahead after drillship Stena Forth berthed on the country’s waters last Friday. Springfield could be making another history if after the drilling it declares discovery in commercial …

The Head of the Banking Supervision at the Bank of Ghana has said 4.6m depositors were saved in a recent banking cleanup exercise. In an exclusive interview with JoyNews, Osei Gyese said Dr Mahamudu Bawumia’s assertion is accurate. “The banking sector is made up of banks, savings and loans, finance houses, the microfinance …

The South African government’s special envoy to Ghana says properly registered and insured tax-paying Ghanaians businesses in South Africa will be compensated. Jeffrey Radebe expressed deep regret for the attacks and called for cooperation among African states to deal with the socio-economic issues that underline such attacks. At least three Ghanaians were …

The Bank of Ghana (BoG) has forwarded the Sibton Switch case to the relevant government agencies for criminal investigations. JoyBusiness understands all the necessary documents covering investigations done by the central bank would be handed over to the necessary security agency for criminal investigations and prosecution. The central bank on Friday dismissed …