The National Communications Authority (NCA)- Ghana’s telecom regulator- has banned Vodafone Ghana from acquiring new subscribers either through sales and activation of new SIMs or by porting following disruptions to the telecom company’s network last week, which left millions of Vodafone customers unable to make or receive calls or access data services. Additionally, the NCA has restricted Vodafone from introducing new services, promotions, offers, and from all marketing communications except

Credit rating agency, Fitch has noted that the Bank of Ghana's (BOG) role in funding Ghana's budget deficit in the first quarter illustrates the financing challenges the government faces given surging yields and a deteriorating maturity profile. According to Fitch, attempts to print money to finance the deficit will aggravate already high inflation, which surged to 14.7% in April this year and contribute to further cedi weakness. The cedi has fallen 21% since the start of the year. “Fiscal

Tolaram Group has put plans in motion to set up a manufacturing plant in Ghana to produce its highly demanded Indomie instant noodles. Already the company has acquired a land at the industrial city of Tema to put up the plant estimated to cost about US$20 million. The Chief Financial Officer of the Singapore-based Tolaram Group, Navin Nahata told the B&FT that construction of the plant will begin next year to carter for the growing demand for its product in the country. He said the decision to

International Air Transport Association (IATA) last week appealed to India' new government led by Narendra Modi to slash taxes, restrain private airport operators from levying high charges and relax "excessive" regulations in the aviation industry to maximise India's full potential to generate economic growth. Akbar Al Baker, Chief ExecutiveOfficer of Qatar Airways who is the President of the 70th International Air and Transport Association (IATA) assembly being held in Qatar

There’s incipient optimism about the fortunes of the cedi, with bank chiefs telling the B&FT they expect the imminent arrival of Cocobod’s US$1.8billion syndicated loan to boost forex supply and stabilise the currency. “When that money comes in, it will help arrest the situation to some extent,” Samuel Ashitey Adjei, Managing Director of Ecobank, said. “We are talking about demand and supply, so if the supply side improves then it will help stabilise the currency.” His view concurs

Tullow Oil has received approval from government to flare gas from the Jubilee Field as it awaits completion of the Atuabo Gas Project, a company source has said. The inability of the Ghana Gas Company to complete the gas processing facility has had serious consequences for oil production from the Jubilee Field, with operators having to re-inject the gas back into the wells. Currently, the operators of Jubilee Field have pegged average production for the year at 100,000 barrels per day (bpd). Asked

The United Nations Industrial Development Organisation’s (UNIDO) Investment and Technology Promotion Office (ITPO) has met with some high-level institutional representatives in the country over the Ghana-Italy Investment Forum scheduled for October in Rome. The meeting was to deliberate on a country presentation to showcase Ghana’s investment opportunities to the Italian business community at an exhibition. The UNIDO representatives as part of the visit held discussions with the Minister of

Eagle Lager, Accra Brewery Limited’s (ABL) innovative brand brewed from 70% locally grown cassava, has climaxed its Eastern Eagle Wholesaler promotion dubbed ‘Eagle Reseller Project’ with the presentation of TukTuk/Tricycles with branded containers to four winners at the GNAT Hall, in Koforidua. The winners were L.H. Enterprise, Sra Memorial, Nana Topen Enterprise, and C&J Enterprise. The Eagle Reseller Project was designed to encourage wholesalers to make available ABL’s cassava beer,