Business in Ghana

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Archive for June 18th, 2014

First National Obtains Universal Banking Licence

Posted by Business in Ghana on June 18, 2014

First National Savings and Loans Company Ltd has obtained a provisional licence from the Bank of Ghana (BoG) to operate as a universal bank.

To be known as First National Bank Limited under the new operational licence, the feat has largely been as a result of the fast growth the company has chalked up, with its expansive network across major capital cities, rural and urban centres around the country.

This has endeared the company to many traders, small and mediums scale enterprises.

The new license allows the company, which will soon announce its re-branded status, to deliver a vast array of financial services such as trade financing, all forms of deposit taking, foreign exchange services, issuance of cheques and settlement of cheque transactions.

The Chief Executive Officer of First National, Mr Patrick Anumel, told the Daily Graphic shortly after a press briefing in Accra last Tuesday that the bank was now in a position to help its customers better by providing them with enhanced services.

He said the focus of the bank had, however, not changed as it was still aimed at serving the ordinary Ghanaian, including farmers, market women, students and operators of SMEs.

Mr Anumel noted that the depreciation of the cedi and the rise in inflation rate had affected the cost of doing business in the country.

He stressed the need for the bank to improve on its services with a diversified range of services.

“If you have a diversified range of services, then it means that your source of revenue is also going to be diversified and therefore favour you,” he explained.

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Posted in Financial Services, Uncategorized | Tagged: , , , , | 3 Comments »

Turkey’s power-ship maker Karadeniz to supply electricity to Ghana

Posted by Business in Ghana on June 18, 2014

By BizGhana Staff Writer

Ghana investment is Karadeniz Holding’s first in Africa and Chairman says the company eyes further expansion

ISTANBUL, June 17 (Reuters) – Turkish Karadeniz Holding has agreed to provide two electricity-generating vessels to power-hungry Ghana in a 10-year supply deal, the company’s chairman said.  Karadeniz builds what are effectively floating power stations which plug into electricity grids after berthing.  They run on fuel oil but can use natural gas as an alternative.  The Ghana investment is Karadeniz Holding’s first in Africa.  It already produces electricity for Iraq and Lebanon, through part of its fleet of seven power ships with a combined capacity of 1,100 megawatts (MW).  “There is an electricity shortage of around 100,000 MW in Africa that needs to be fulfilled urgently. This investment needs to be done,” chairman Orhan Karadeniz told reporters late on Monday.  Home to some of the leading mineral and oil producers, the African continent is chronically short of electricity and is heavily reliant on diesel imports for power generation.  “In addition, the countries in that region have plenty of oil and gas reserves.  As these reserves come into production, and the countries get richer, the demand for electricity would rise rapidly,” Karadeniz said. Read the rest of this entry »

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World Cup Diary 3

Posted by Business in Ghana on June 18, 2014

From Kwasi Gyan Appenteng

25 million coaches go to work

This is the morning after the night before, my friend Yaa wrote on her Facebook wall; Ghana is not a happy place. We have not yet descended into the funk of 2010 after we were done in by the Hand of Devil, a la, Suarez, but this morning there are fewer flags and smiles in Accra. Ghana’s 25 million coaches have started work and the prevailing pre-breakfast opinion is that the real coach, Kwasi Appiah lost us the match.

Some say he should have started with Essien and Boateng because the presence of those two would intimidate the American players. Others say they coach had a goalkeeping dilemma because Kwarasey is not good at catching down balls while Dauda is afraid of high balls. It is too bad the rules of Association Football do not allow the use of two goalkeepers; ideally we would field the pair of them. Kwarasey to catch high balls while Dauda crouches low! Read the rest of this entry »

Posted in Social Services, Uncategorized | Tagged: , , | 2 Comments »