Chief Executive Officer of the Ghana Venture Capital and Private Equity Association, Amma Gyampo, has urged…
Category: BUSINESS
Don’t accept financial terms blindly – Amma Gyampo advises consumers
Chief Executive Officer of the Ghana Venture Capital and Private Equity Association, Amma Gyampo, has urged…
Ghanaian participation in extractive sector must increase – Expert
0
0
Read Time:2 Minute, 29 Second
The Acting Director of the Institute of Mining Research and Governance (IMRIG) at the University of Mines and Technology, Dr. Frank Boateng, is calling for increased Ghanaian participation in the country’s extractive sector, arguing that broader local ownership is critical to ensuring that more citizens and mining communities benefit from Ghana’s natural resources.
Speaking during a JoyBusiness Roundtable discussion on rethinking Ghana’s approach to gold mining, oil and critical minerals, Dr. Boateng stressed the need for deliberate policies to expand indigenous participation in mining operations.
According to him, Ghana must move beyond limited state participation and create structures that allow ordinary citizens to own stakes in mining ventures through wider stock market participation.
“I still stand by my point where I feel that Ghanaian participation needs to increase,” he stated on Tuesday, May 26.
Dr. Boateng explained on JoyNews that increasing local ownership would not only improve national benefits from the extractive sector but also strengthen Ghana’s influence in major operational and strategic decisions within mining companies.
He suggested that the government could explore options such as converting portions of taxes owed by mining firms into equity stakes to increase Ghana’s shareholding beyond the constitutionally mandated 10 percent free carried interest.
According to him, increasing Ghana’s equity participation would also secure stronger representation on the boards of mining companies and ensure the country becomes part of key decision-making processes.
“Can we even defer some of our taxes to increase our equities in some of these mines, so that it pushes our ownership beyond the free carry of 10%?” he questioned.
Dr. Boateng further proposed that mining lease renewal negotiations should be used as opportunities to secure greater Ghanaian participation in mining operations.
“If mining companies are coming to lease renewal, we can renegotiate and increase our participation,” he said.
He, however, cautioned against concentrating ownership solely in the hands of government or political actors, stressing that broader citizen participation through stock ownership would be more beneficial and sustainable.
Dr. Boateng also warned that Ghana’s changing political landscape and policy reversals often create uncertainty within the mining sector and discourage long-term investment planning.
“Looking at the nature of our politics in this country, when government changes, things change dramatically, and sometimes decisions are reversed. This does not help,” he noted.
He further identified the artisanal and small-scale mining sector as a major opportunity for increasing Ghanaian ownership in the extractive industry.
According to him, supporting well-performing local small-scale mining operators with financing and technical assistance could help transform them into medium-scale mining companies capable of attracting larger investments.
He referenced the Minerals Income Investment Fund’s Small-Scale Incubation Project, which aimed to identify promising artisanal mining operators and provide support to help them scale up operations.
Dr. Boateng maintained that empowering Ghanaian-owned mining firms and expanding citizen participation in the extractive sector would ultimately lead to greater national benefits and stronger local economic development.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
Ghanaian participation in extractive sector must increase – Dr Boateng
The Acting Director of the Institute of Mining Research and Governance (IMRIG) at the University of…
Ghanaian participation in extractive sector must increase – Dr Boateng
The Acting Director of the Institute of Mining Research and Governance (IMRIG) at the University of…
Government must make industrialisation a condition in mining contracts — Ayi-Owoo
Partner, Resources and Industry Expert at Deloitte Africa, Gideon Ayi-Owoo, has called for a stronger policy…
Government must make industrialisation a condition in mining contracts — Ayi-Owoo
Partner, Resources and Industry Expert at Deloitte Africa, Gideon Ayi-Owoo, has called for a stronger policy…
Absa Bank Ghana Hosts Risk Management Seminar for Businesses
0
0
Read Time:1 Minute, 44 Second
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/absa-bank-ghana-hosts-risk-management-seminar-for-businesses/Absa Bank Ghana has brought together business and commercial banking clients for a Risk Management Seminar focused on navigating foreign exchange, interest rate and inflation risks amid global economic volatility.
The event, another edition of the bank’s dedicated seminar series, featured expert-led presentations from Absa’s Markets team. Opening the seminar, Kobla Nyaletey, Executive Director for Private, Personal and Business Banking at Absa Bank, framed the session around the idea that economic uncertainty and commercial opportunity are inseparable.
“There will always be risks and there will always be opportunities,” Nyaletey said.
He said the seminars were designed to equip clients with the knowledge, tools and partnerships needed to respond strategically to market changes and manage uncertainty with greater confidence.
The technical centrepiece of the seminar was a presentation by Bertrand Boosung Baazeng, a senior Rates and Credit Trader at Absa Bank, who walked participants through Ghana’s current macroeconomic and market outlook. His presentation examined the effects of global geopolitical tensions, inflationary pressures, interest rate movements, and foreign exchange volatility on business operations, while also pointing to improving domestic macroeconomic indicators. He cautioned businesses against complacency, urging continued strategic discipline despite the more positive economic signals.
An interactive session led by Gerald Nana Kusi, Head of Institutional Sales and Structuring at Absa Bank, gave participants a practical grounding in identifying, assessing and managing market risks. Using real-world business scenarios, attendees were introduced to hedging solutions and risk management strategies designed to reduce financial losses, improve cash flow planning and maintain operational stability when market conditions shift.
Absa Bank said the Risk Management Seminars are part of its broader commitment to supporting clients beyond conventional banking services, providing expert market intelligence and strategic guidance to help businesses operate with greater resilience in an unpredictable global environment.
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/absa-bank-ghana-hosts-risk-management-seminar-for-businesses/
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
MTN Ghana Introduces Fee for MoMo to Bank Transfers
0
0
Read Time:2 Minute, 25 Second
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/mtn-ghana-introduces-fee-for-momo-to-bank-transfers/MTN Ghana’s mobile money platform MoMo will from June 1 charge customers 0.75 percent on transfers from MoMo wallets to bank accounts, capped at GH¢5 per transaction.
The company notified subscribers via SMS, citing a need to serve customers better as the reason for the change. The charge is a new addition to MoMo’s fee structure, specifically targeting the wallet-to-bank transfer route that many customers use to move money from their mobile wallet into savings or business accounts.
The fee has prompted industry observers to examine what it may mean for the broader balance of power between mobile money platforms and traditional banks in Ghana. Many customers currently use MoMo as a transit point: money arrives in the wallet and is then transferred into a bank account. If moving money out of MoMo now carries a charge, some analysts argue that customers may find it financially rational to leave larger balances inside their wallets rather than pay to transfer funds out. The larger those wallet balances become, the more powerful MoMo’s financial ecosystem grows.
That ecosystem has expanded significantly beyond simple payments. Today, MoMo supports savings products, lending, insurance, merchant services and business settlements. MTN Ghana completed the structural separation of the mobile money business in March 2026, creating a standalone fintech entity, MobileMoney Fintech Limited, with a medium-term target of listing on the Ghana Stock Exchange.
Others read the move differently. Many banks already charge customers for sending money from bank accounts into mobile wallets. The new MoMo charge could therefore be seen as competitive symmetry rather than a new burden, effectively ending a one-sided arrangement where money flowing into wallets attracted bank fees but money flowing back out remained free.
Some consumers have drawn comparisons to the Electronic Transfer Levy, known as the E-Levy, which was abolished following public backlash over the cost friction it created in digital transactions. The comparison is disputed. The E-Levy was a government-imposed tax; the new MoMo charge is a commercial fee introduced by a private company. Legally and structurally they are distinct. The psychological echo, however, is proving difficult to avoid among users who remember the E-Levy as a period when moving money digitally felt increasingly expensive.
The broader significance of the fee may ultimately lie less in the 0.75 percent itself and more in what it signals: the competitive boundary between traditional bank accounts and mobile wallets is shifting, and where millions of Ghanaians choose to store their money going forward may be shaped as much by fee structures as by product features.
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/mtn-ghana-introduces-fee-for-momo-to-bank-transfers/
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
Absa Bank Ghana Hosts Risk Management Seminar for Businesses
0
0
Read Time:1 Minute, 44 Second
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/absa-bank-ghana-hosts-risk-management-seminar-for-businesses/Absa Bank Ghana has brought together business and commercial banking clients for a Risk Management Seminar focused on navigating foreign exchange, interest rate and inflation risks amid global economic volatility.
The event, another edition of the bank’s dedicated seminar series, featured expert-led presentations from Absa’s Markets team. Opening the seminar, Kobla Nyaletey, Executive Director for Private, Personal and Business Banking at Absa Bank, framed the session around the idea that economic uncertainty and commercial opportunity are inseparable.
“There will always be risks and there will always be opportunities,” Nyaletey said.
He said the seminars were designed to equip clients with the knowledge, tools and partnerships needed to respond strategically to market changes and manage uncertainty with greater confidence.
The technical centrepiece of the seminar was a presentation by Bertrand Boosung Baazeng, a senior Rates and Credit Trader at Absa Bank, who walked participants through Ghana’s current macroeconomic and market outlook. His presentation examined the effects of global geopolitical tensions, inflationary pressures, interest rate movements, and foreign exchange volatility on business operations, while also pointing to improving domestic macroeconomic indicators. He cautioned businesses against complacency, urging continued strategic discipline despite the more positive economic signals.
An interactive session led by Gerald Nana Kusi, Head of Institutional Sales and Structuring at Absa Bank, gave participants a practical grounding in identifying, assessing and managing market risks. Using real-world business scenarios, attendees were introduced to hedging solutions and risk management strategies designed to reduce financial losses, improve cash flow planning and maintain operational stability when market conditions shift.
Absa Bank said the Risk Management Seminars are part of its broader commitment to supporting clients beyond conventional banking services, providing expert market intelligence and strategic guidance to help businesses operate with greater resilience in an unpredictable global environment.
NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/absa-bank-ghana-hosts-risk-management-seminar-for-businesses/
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %