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Infograph: Profitability rating of banks in Ghana

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The Bank of Baroda emerged the most profitable bank for the year 2013. This was revealed in the 2014 Ghana Banking survey conducted by audit and advisory firm, Price Waterhouse Coopers (PWC). Bank of Baroda came top for the 3rd year in a row after posting a profit after tax margin of about 88% last year. The survey was conducted ...

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LeapFrog to inject ₵375 million into Ghana

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Ghana’s growing financial services sector could be boosted by investments totaling up to GH₵375 million (US $100m) from a new fund announced today by LeapFrog Investments. The GH₵1,5 billion (US $400m) fund will invest in high growth businesses in Africa and Asia. LeapFrog is the world’s largest dedicated equity investor in emerging markets financial services, with partner companies serving 22.7 ...

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Atuabo Free Port deal is shady – TUC

Kofi Asamoah, TUC boss.

The Trades Union Congress (TUC) has said it is not against the construction of the Atuabo Freeport but it is against the lack of transparency in the deal. The TUC is calling for a thorough review of the Atuabo Free Port Commercial Agreement between the government of Ghana and Lonrho. This was revealed by the Secretary General of the Union, ...

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Gas plant to cater for 70% of Ghana’s LPG needs

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The Ghana gas plant is to cater for 70% of the country’s Liquefied Petroleum Gas (LPG) needs when the plant comes on stream by the close of the year. According to the Minister of Energy and Petroleum Emmanuel Kofi Buah “The good news is that in the coming years we are going to have a lot of liquefied Petroleum Gas ...

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Bank of Baroda still most profitable bank in Ghana

bank of barouda

The Bank of Baroda emerged the most profitable bank for the year 2013. This was revealed in the 2014 Ghana Banking Survey conducted by audit and advisory firm, PriceWaterhouseCoopers (PWC). Bank of Baroda came top for the 3rd year in a row after posting a profit after tax margin of about 88% last year. The survey among others was conducted for ...

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BoG to offload shares in ADB by year end

Stephen Kpordzih, ADB MD

Barring any last minute hitches the Bank of Ghana (BoG) will finally offload its shares in the Agricultural  Development Bank (ADB) by the end of this year. it follows moves by ADB to list of the Ghana Stock Exchange (GSE). ADB a universal bank, with a focus on agric, initiated the move some years back, but was unable to do ...

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TOR will never be sold – Buah

Emmanuel Armah-Kofi Buah

The Energy Ministry has said the Tema Oil Refinery (TOR) will not be sold under any circumstance. Minority in parliament have previously alleged that government was planning to sell the refinery to a private entity to make it efficient. Some economists and energy analysts have also argued for the refinery to be sold because it is creating more debts for ...

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Chamber of Commerce legal tussle reignites

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The legal tussle between the Ghana Chamber of Commerce and Industry  (GCCI) and former regional executives of its Sekondi -Takoradi branch will resume on October 23 at the Sekondi high court. Three former executives of the Sekondi Takoradi Branch of GCCI led a splinter group to rebel against the mother union , accusing them of financial impropriety. The breakaway took ...

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GSA threatens new inspection charges

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Ghanaians living abroad and traders importing goods into the country, from October 1st this year, will be liable to fees payable in advance for the inspection of their goods. They will also have to possess Certificate of Conformity (CoC) by Societe Generale de Surveillance (SGS). This is the outcome of a new contract signed between Ghana Standard Authority (GSA) and ...

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COCOBOD signs $2billion loan on Thursday

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The cedi is expected to see some significant stability as well as strengthen against major international currencies in the coming weeks. This follows the finalisation of the agreement for the 2 billion dollar cocoa syndicated loan for the 2013/2014 cocoa season. Barring any last minute changes, partner banks to COCOBOD’s syndicated loan will on Thursday 11 September,2014 sign the agreement ...

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