The Ghana National Traditional Healers Association in collaboration with regulatory bodies is working assiduously to open up its market share to capture the international community, particularly the USA, by June 2015. According to the Association, a consultancy firm has revealed that the African community in places like Maryland and Washington D.C., both in the USA, holds herbal medicines from Ghana in high esteem, hence its [Ghana National Traditional Healers Association] keen interest to penetrate
The Venture Capital Trust Fund, a government of Ghana-backed private equity initiative -- set up to provide low cost financing to Small and Medium Enterprises (SMEs) and to promote the venture capital industry in Ghana -- has launched three new initiatives to deepen its financing of value chain programmes in the Northern zone of the country. The latest initiatives by VCTF were announced at a press briefing, in Kumasi, and particularly target SMEs, entrepreneurs and institutions within the northern
iWallet, the all-in-one money app that simplifies transactions, purchases and more, was showcased to merchants and partners at the African Regent Hotel in Accra during a breakfast meeting. This meeting brought together many of the key players in the country’s mushrooming eCommerce ecosystem to share the tangible impact of their success and their visions for the future. Participants included major online stores, NGOs and financial institutions. These included Fidelity Bank, Stanbic Bank, First
The CEO of DKM Diamond Microfinance, Mr. Delle K. Martin, has charged graduates on the need to develop entrepreneurial skills. According to him, self-employment should be seen as one of the reliable ways of ensuring sustainable development as a country. In order for such goal to be achieved, graduates should discard the notion that it is the utmost responsibility of central government to create jobs. The CEO, who was speaking at a lecture series organised by the Faculty of Economics and Business
It is reported that a contraction of 0.6% in Brazil's economy between April and June 2014 and a revision of the first quarter, has pushed the country into recession. This is coming closely on the heels of its staging 2014 World Cup while it is getting ready to conduct the 2016 summer Olympics. These two events are meant to uplift the economy to new heights. Brazil is a strong US$ 2.2 trillion economy and has expended an estimated US$11.3billion on the World Cup -- the most expensive World Cup
Governments, especially in developing countries, find it imperative to provide extensive and generous guarantees in the early stages of their PPP programmes in order to attract private sector participation and financing of infrastructure. According to the World Bank, many developing countries have accepted high fiscal commitments and risks at the early stage of implementation of PPPs. Government guarantees serve as second-best instruments in the absence of a stable political environment, effective
The IMF team, which concluded its discussion last week Thursday noted that the economy is vulnerable to many shocks, and has stressed that the country’s economic growth at the end of this year will slide from the 7.1% recorded last year to 4.5%, which could be the lowest GDP growth in more than a decade. Mr. Joël Toujas-Bernaté who led the IMF mission to Ghana stated: “Ghana continues to face significant domestic and external vulnerabilities on the back of a large fiscal deficit, a slowdown
Kojo Adu Asare has been relieved of his position as the Chief Executive Officer of the Youth Enterprise Support (YES) Fund, two months after he was appointed. The YES Fund, a Government of Ghana programme initiated by President John Dramani Mahama with a GH¢10 million seed fund, is targets young Ghanaians with creative and innovative business ideas and plans to become entrepreneurs. Mr. Adu-Asare was appointed barely two months ago to head the Secretariat of YES after President John Mahama launched
The country’s imminent programme with the International Monetary Fund (IMF) will only provide temporary relief from the challenges plaguing the economy, Dr. Lord Mensah, Senior Lecturer at the University of Ghana Business School, has said. According to him, “The IMF programme won’t necessarily solve our problems in the long-run, but in the interim will serve as a check on managers of the economyâ€Â. Dr. Mensah, speaking at the B&FT Roundtable Discussion on Implications of the IMF Bailout,
Local airlines have called for a review of the regulatory regime governing domestic air travel if the full potential of the industry is to be realised. Government’s imposition of tax on the importation of aircraft spare-parts by domestic operators and the recent extension of the 17.5 percent Value Added Tax (VAT) to cover domestic air travel threatens to derail gains made in domestic air travel over the past decade, industry players say. “The airline business is a labour intensive industry,
The Minister of Education, Prof. Jane Naana Opoku-Agyemang, has inaugurated a newly-constituted Governing Council for the University of Professional Studies, Accra (UPSA). The swearing-in ceremony of the new council was held on the campus of the university. The 15-member council is the highest decision-making body of the university, with the mandate to ensure that it achieves its aims of becoming a globally recognised business education institution which blends scholarship with professionalism
The Ghana Association of Microfinance Companies (GAMC) has backed moves by the central bank to put a limit on the number of operating permits that can be issued to microfinance companies. According to the Association’s National Board Chairperson, Collins Amponsah-Mensah, there is no doubt the huge number of microfinance institutions affects the ability of the oversight body -- the Bank of Ghana -- to efficiently regulate the sector. “We are in full support of it [capping the number of MFIs].
President John Dramani Mahama last week Thursday said Ghana's third Eurobond launch of one billion dollars indicate that investors have a lot of confidence in the West African country. "Ghana surprised even its most ardent critics when it launched its third Eurobond for an amount of one billion dollars. This successful floatation represents a return of investor confidence in the prospects of the Ghanaian economy," he added. President Mahama said this when he addressed the United Nations
The Ghana Standard Authority (GSA), acting on the request of the Ministry of Trade and Industry, has suspended implementation of the Ghana Conformity Assessment Programme (GCAP) which was scheduled to take off from October 1 this year. The Authority will provide a report on the public education and consultation to the Trade Ministry by November this year for further action to usher in full implementation of the programme at a new date. Executive Director of the Authority, Dr. George Ben Crentsil
Many entrepreneurs are quick to single out lack of funding as one of the greatest challenges to fulfilling their potential. But Sheena Lindahl, an American entrepreneur, believes that in most cases what entrepreneurs lack is guidance and mentorship and not necessarily funds to make their breakthrough. Sheena, also co-Founder of Empact, an American organisation that celebrates achievements of young entrepreneurs, said: “The whole idea of “I need money to start†is a limitation that a lot of
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