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Remittances to developing countries projected to reach $550b

Remittances, which have been identified as main contributors to GDP in low- and middle-income countries are projected to reach $550 billion in 2019, making them the largest source of external financing in these countries. The benefits of remittances from international migrant workers are however reduced by the high cost of …

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Government to introduce comprehensive vehicle financing scheme

Government says it is working with authorized automobile dealers and distributors and financial institutions to introduce a comprehensive vehicle financing scheme to enable Ghanaians buy vehicles made in Ghana. Also, the government says it has entered into discussions and negotiations with global automobile manufacturers, including Toyota Ghana Limited, to establish …

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Ghana invests less in healthcare, education and social protection – Send Ghana

Ghana is investing less funds in health care, education and social protection, especially for the most vulnerable in the society. This means the poorest Ghanaians are subsidizing the living standards of the richest in society. Madam Harriet Agyekum, the Senior Programmes Officer of SEND Ghana, said this at a press …

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GIPC and Malta Enterprise sign MoU to boost trade and investments

The Ghana Investment Promotion Centre (GIPC) has signed a Memorandum of Understanding (MoU) with Malta Enterprise, Malta’s economic development agency, tasked with attracting new foreign direct investment as well as facilitating the growth of existing operations. The MoU empowers both parties to set up a strategic think-tank composed of officers …

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Ghana Stock Exchange to transform to company limited by shares

The Ghana Stock Exchange (GSE) expects to change its legal status from a mutual entity limited by guarantee to a company limited by shares by end of the year. The process known as demutualization will change the ownership structure of the GSE from a non-profit member-based organisation into a profit-making …

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4 envoys present credentials to President Akufo-Addo

Four envoys representing Switzerland, Botswana, New Zealand and Pakistan have presented their letters of credence to President Nana Addo Dankwa Akufo-Addo at the Jubilee House in Accra. The four envoys all harped on the need to deepen the ties and cooperation between their respective countries and Ghana, particularly in the …

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Ghana beats Nigeria as largest FDI receiver in West Africa – UNCTAD

Ghana received the largest amount of foreign direct investment (FDI) in West Africa beating Nigeria, with $3 billion in investments, according to the World Investment Report 2019. “Nigeria is no longer the largest FDI recipient in West Africa. Foreign investors may have adopted a cautious approach and withheld planned investments …

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GCB Bank records GH¢1.38b deposits in 2018

GCB Bank Limited in 2018 recorded an increase of GH¢1.38 billion in total deposits from GH¢6.92 billion in 2017 to GH¢8.30 billion, representing a 19.6 per cent growth in 2018. The record makes GCB the leading bank in the country with regard to deposits and asset size. A statement from …

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Ghana banks urged to invest in agribusiness

The Chief Executive Officer (CEO) of Glofert Limited, Reverend Foster Mawuli Benson, has called on banks to direct some of their investments into the agribusiness sector. Glofert Company Limited is the biggest fertilizer blending company in Ghana. Rev Benson who was speaking to the Media after a programme at the …

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Ghana now Austria’s important business destination in Africa – Austrian President

Austrian President Alexander Van der Bellen has said Ghana currently ranks as the most important destination in Africa for Austria and Austrian businesses. He said the management of the Ghanaian economy, especially over the last two years, for which Ghana is projected to be the fastest growing economy in the …

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