Author: newsfilegh

Tony O. Elumelu, Chairman of the Heirs Holdings & Founder, Tony Elumelu Foundation has urged African business and the private sector to embrace the concept of Africa beyond aid agenda championed by Ghana’s President, Nana Addo Danquah Akufo-Addo. Speaking as part of a high level presidential panel organized by the UNDP Africa on the theme; Africa’s money for African Development – A future beyond aid, Mr. Elumelu noted that, investment in other areas of African economy like power is a business investment and would contribute to the growth of the countries but an investment in young Africans would create prosperity…

COCOBOD has received a $600 million syndicated loan facility from the African Development Bank, and Credit Suisse Group AG, to finance key components of the organisation’s productivity enhancement programmes. The signing ceremony took place on the sidelines of the 2nd Edition of the Africa Investment Forum, on Tuesday, 12th November, 2019, in Johannesburg, South Africa, a ceremony witnessed by the President of Ghana, Nana Addo Dankwa Akufo-Addo It would be recalled that, in 2017, discussions first took place between President Akufo-Addo, and Dr. Akinwumi Adesina, President of the African Development Bank, regarding the urgent need for the transformation of Ghana’s…

The first tranche of the ‘bauxite for development’ barter agreement, popularly known as Sinohydro deal, signed between the Government of Ghana and the People’s Republic of China has been released, the Vice President, Dr Mahamudu Bawumia has disclosed. Speaking in Accra on Monday, 11th November 2019 at the Jubilee House, Vice President Bawumia indicated that projects under the agreement have been grouped in Lots, and their review and approval is ongoing. Major progress has been made, Vice President Bawumia stated, with the China and Ghana governments determined to ensure the success of the barter deal, which would see the leveraging…

The Governor of the Bank of Ghana (BoG) has assured the public that government would put the necessary efforts together to support the remaining fund management companies after licences of 53 others were revoked. The Securities and Exchange Commission (SEC) last Friday revoked the licences of 53 fund management companies in the country for breaching the laws regulating their operations. Governor of the Central Bank, Dr. Ernest Addison told 3news’ Central regional correspondent Kwame Kakraba, on the sidelines of the Mfantsipim School’s 143rd Speech & Prize Giving Day in Cape Coast, that what led to the revocation of the licences is…

Directors and managers of the now defunct fund management companies, whose negligence and inactions caused the collapse of the firms, are to face prosecution. According to the Securities and Exchange Commission (SEC), it has already gathered evidence against some directors and will push for a docket to be built and forwarded to the Attorney General for prosecution. Deputy Director of SEC, Paul Ababio, announce this on TV3 Business Focus Monday noted “we had to make a determination as to what extent was it through negligence of the directors, to what extent do we find criminal offences. Some of that we…

Directors and managers of the now defunct fund management companies, whose negligence and inactions caused the collapse of the firms, are to face prosecution. According to the Securities and Exchange Commission (SEC), it has already gathered evidence against some directors and will push for a docket to be built and forwarded to the Attorney General for prosecution. Deputy Director of SEC, Paul Ababio, announce this on TV3 Business Focus Monday noted “we had to make a determination as to what extent was it through negligence of the directors, to what extent do we find criminal offences. Some of that we…

Two people are in critical condition after another day of violent demonstrations in Hong Kong. A protester was injured on Monday morning when he was shot at close range by a police officer. He was the third person shot by police since the protests began 24 weeks ago. Later on Monday a pro-Beijing supporter was doused in flammable liquid and set alight after arguing with protesters, who are demanding greater democracy and police accountability in Hong Kong. The territory’s Chief Executive Carrie Lam, speaking at a news conference on Monday evening, called the demonstrators enemies of the people. “If there’s…

The concession agreement for the construction of the Accra Sky Train Project has been signed on the sidelines of the ongoing African Investment Forum in Johannesburg, South Africa. The signing of the agreement means feasibility studies, spanning a period of nine months to determine the bankability of the project will commence, with the investors assuring that the first station for the Accra Sky Train project will be opened in 9 months. At the signing ceremony on Monday, November 11, President Akufo-Addo described it as “a happy day for Ghana and her good people”, adding that it is a “critical step…

Two Connect FM journalists have been honored at the first ever Western regional edition of the Ghana Journalists Association (GJA) awards. The station’s reporter, Eric Yaw Adjei, received the ‘Best Environmental Reporter’ award while Nhyiraba Paa Kwesi Simpson picked the award for ‘Radio Development Oriented Personality of the Year’ award. Connect FM, a subsidiary of the Media General Group also received a citation for its commitment to development in the Western region. Aimed at recognizing excellence in journalism in the region, the maiden Western regional GJA Awards was under the theme, “Redefining Corporate Social Responsibility; Moving from Handout to Legacy…

President Nana Akufo-Addo says his government has in the last three years fixed Ghana’s poor economic fundamentals left by the John Mahama administration. All the fundamentals, he said, are currently pointing in the right direction. “We inherited a situation with a large fiscal deficit, which has been turned around now. Considerable imbalances in the way in which our economy was being run have also been turned around,” he said on Monday during a panel discussion at the African Investment Forum in South Africa. The President said Ghana’s inflation which was 15.4 per cent is today at 7.6 per cent, describing…