The commencement of new oil wells under the Jubilee South East project has significantly boosted Ghana’s crude oil production. This has led to a 10.7 per cent increase in output and a record high for the country’s petroleum receipts. According to the 2024 semi-annual report by the Public Interest and Accountability Committee (PIAC), the total […]
Category: Business
Bitcoin price reaches record high amid early US election results
The price of Bitcoin surged to an all-time high of $75,255 Tuesday night as early results from the US presidential election began to roll in, with former President Donald Trump taking an initial lead in the Electoral College. The Associated Press reported a 7.7% increase in Bitcoin’s value, while share prices and bond yields also […]
Google introduces Twi voice search, expanding digital access for Ghanaian speakers
This inclusion is part of Google’s expansion of African language support, which now covers 15 new languages across the continent, enhancing accessibility for over 300 million people. Developed in collaboration with Google’s AI Research Center in Accra, this update enables Ghanaians to search, type, and translate directly in Twi using voice commands. This integration will […]
Disregard notice of fare adjustment – Transport Ministry
Deputy Transport Minister, Hassan Tampuli has urged the public to disregard the Concerned Drivers Association’s notice of a 15 per cent fare increase set for November 2. According to him, fare adjustments depend on factors like fuel price stability, inflation, and other economic indicators, which he says are currently stable. Speaking to JoyNews, Mr Tampuli stated, […]
Government eyes private sector partnerships to tackle ECG’s financial woes
Government is intensifying its efforts to bring private sector engagement into the operations of the Electricity Company of Ghana (ECG) as part of a major reform to stabilise the sector’s finances and ensure long-term sustainability. Finance Minister Dr Mohammed Amin Adam highlighted the urgency of these reforms at the recent IMF/World Bank meetings, pointing out […]
GoRide: Local ride hailing app comes aboard
A new ride-hailing platform developed locally with a traditional touch to help commuters find commercial taxis has been launched in Accra. The app, GoRide, gives the process of finding a ride a modern twist by making it easier for passengers and drivers to connect without disrupting the essence of the local transport system. It comes […]
The couple who took on Google and cost tech giant £2bn
“Google essentially disappeared us from the internet.” Launch days. They’re equal parts thrilling and terrifying for many start-up business founders, but they don’t get much worse than the one Shivaun Raff and her husband, Adam, experienced. It was June 2006 and the couple’s trailblazing price comparison website Foundem – one they had sacrificed well-paid jobs […]
Bank staff lifestyle audits vital to fraud prevention – John Awuah
The CEO of the Ghana Association of Bankers, John Awuah, has opened up about the importance of lifestyle audits as a key preventive measure in Ghana’s banking industry. Banks, he stated in an interview on Joy News’ PM Express Business Edition, are increasingly vigilant about monitoring staff’s lifestyle changes to detect any signs of fraud […]
IMF projects 3% growth rate for Ghana by end of 2024
The IMF projects that Ghana will end 2024 with a growth rate of 3%, according to the World Economic Outlook Report released in Washington, D.C., on Tuesday during the IMF/World Bank meetings. This aligns with the Government of Ghana’s forecast of a 3.1% GDP growth rate as stated in the 2024 Budget. IMF’s Growth Projections […]
Fitch assigns Ghana’s new dollar bonds at CCC+
Fitch Ratings has assigned Ghana’s new US dollar bonds, issued on 9 October 2024, a ‘CCC+’ rating. Fitch also has upgraded Ghana’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘CCC+’ from ‘CCC’. Fitch has affirmed Ghana’s Long-Term Foreign-Currency (LTFC) IDR at ‘RD’. Fitch typically does not assign Outlooks to IDRs of sovereigns with a […]
We welcome 5G with open arms
Ghana’s Fifth Generation (5G) technology is ready to go live on November 1. The wireless technology will offer users a higher internet speed, higher upload and download speed, with more consistent connections and improved capacity. The Graphic Business joins the nation to welcome this new evolution as it stands to enhance business activities in the […]
About 120k tons of cocoa was smuggled from Ghana in 2022-2023, says COCOBOD CEO
The Ghana Cocoa Board (COCOBOD) CEO, Joseph Boahene Aidoo, has disclosed that Ghana lost an alarming 120,000 metric tons of cocoa beans to smuggling between 2022 and 2023. This significant loss poses a serious threat to Ghana’s cocoa industry, which is a key contributor to the national economy. The smuggling of cocoa beans has long […]