The Chief Executive Officer of the Ghana Free Zones Authority, Michael Okyere Baafi has once again distinguished and acquitted himself as an astute administrator of one of Ghana’s most important public sector agencies. Mr. Okyere Baafi beat stiff competition from other equally strong and competent chief executive officers to emerge the overall best Chief Executive […]
The Bank of Ghana on Friday, 4th January 2019 announced the revocation of the banking licence of Heritage Bank Limited on the following grounds; (1) Suspicions relating to the source of the bank’s capital and matters related therewith including the claim that it was derived from contracts with COCOBOD which were the subject matter of […]
Distressed gold trading firm, Menzgold says government’s position on its predicament vindicates the company’s long held position that it was not under the Securities and Exchange Commission or the Bank of Ghana and therefore could not be sanctioned by the two state entities. In a statement cataloguing its position on the Menzgold matter yesterday, government […]
Minister for Energy, John-Peter Amewu together with a delegation from the Ministry and Energy Commission are representing the country at the ninth session of the Assembly of International Renewable Energy Agency (IRENA). The meeting is scheduled to take place from January 10 – 13, 2019, at the St Regis Saadiyat Island, Abu Dhabi, United Arab […]
Government has officially made its position on the raging Menzgold saga known, saying it will not use the tax payers’ money to pay the aggrieved customers. A statement issued a while ago and under the hand of the information Minister, Kojo Oppong Nkrumah said government sympathizes with the customers on the difficulties encountered in their […]
Ghana has yet again discovered large deposits of oil ready for commercial exploration. In what is a major oil discovery, the Norwegian company Aker Energy ASA announced on January 10, 2019 that based on existing subsurface data from seismic, wells drilled and an analysis of the Pecan-4A well result, the existing discoveries are estimated to […]
Information available to BestNewsGH.com indicates that the Northern Electricity Distribution Company (NEDCo) is demanding a 40 percent increase in electricity tariffs in order to enable it sustain its operations. According to the company, anything short of approving or granting the request will see the company collapse within the shortest time possible. A source within the […]
There are now Nine Hundred and Thirty (930) mining concessions and licenses in the country, according to the Secretary to the Inter Ministerial Committee on small scale and illegal mining and the environment, Charles Bissue. The figure is a reduction from the 1,350 concessions and licenses that were in existence under the erstwhile opposition National […]
Last week the statutory regulator of the banking sector, the Bank of Ghana closed down two additional universal banks and announced 23 banks as fit for operating in the country. Michael Osei Owusu (Senior Banker) discusses the counterfactual and examines whether it was necessary to scale up the minimum capital requirement to GHC400 million. Specifically, […]
The Youth Employment Authority has assured all exited beneficiaries if the Authority that their exit packages are being worked on and would be paid by the end of January 2019. A statement issued by the Authority’s corporate affairs department said work has rigorously resumed on the packages after the Christmas break, assuring that payment is […]
World Bank Group President Jim Yong Kim has announced that he will be stepping down from his position after more than six years, in which the institution’s shareholders provided strong support for multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development. “It has been a great […]
The Madina Institute of Science and Technology (MIST), a tertiary educational institution, has indicated its desire to set up an Islamic bank to cater for the unbanked population in its catchment area. The bank will serve as an alternative for people who are not comfortable with the traditional banking system due to the fact that […]
