Featured Articles

The Ministry of Business Development yesterday launched this year’s Presidential Pitch aimed at providing startup capital for young entrepreneurs across the country. The initiative, as part of government’s efforts to curb the high unemployment rate, will see 10 successful applicants pitch their business ideas before a jury in a final competition slated for July 1, 2020 to qualify for financial support. This year, government has earmarked a GH¢1 million grant for successful applicants to realise their business ideas and improve livelihoods.

Despite the emergence of the coronavirus pandemic at the beginning of this year, the Hotel and Restaurants [hospitality] sub-sector recorded strong growth higher than the national growth rate of 4.9% in the first quarter of 2020.
According to figures from the Ghana Statistical Service, the sub-sector grew by 6.4% in quarter one, sweeping away the presence of COVID-19 . It grew by 7.6%, 3.2% and 6.0% in the years 2017, 2018 and 2019, respectively. However, many analysts believe the sub-sector, which was severely hit by the three-week partial lockdown of the country from 30 March, 2020, will be felt when the second quarter 2020 figures are released later. This is because many hotels and hospitality firms have closed down due to low patronage and high cost of running the business.

The Ghana Ports and Harbours Authority (GPHA) has sealed a consulting services contract for the execution of feasibility studies for the construction of the Port of Keta. The GPHA, announcing this in a press statement, said it has commissioned an association of Consultants led by M/s Sellhorn Ingenieurgesellschaft mbH from Hamburg, Germany, naming other consultants as ProTeln Service GmbH, PSP Architekten, Ingenieure and a Ghanaian team from Yogarib Engineering Services Limited. It indicated that the GPHA had also issued the Letter of Notice to Commence to the Consultant to begin the services officially on the 23rd of June 2020, in accordance with the conditions of the contract during the signing ceremony through Microsoft Teams video conferencing.

➖➖➖➖➖➖➖➖➖

Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#*, select *Option 5* (Financial Services) and select *Option 4* (Pensions and Investments) to Begin

➖➖➖➖➖➖➖➖➖

INTERBANK FOREX RATES
US$GH¢ Buy 5.6483 Sell 5.6539
GB£GH¢ Buy 7.0072 Sell 7.0165
CAD$GH¢ Buy 4.1598 Sell 4.1641
JP¥GH¢ Buy 0.0529 Sell 0.0530
ZARGH¢ Buy 0.3235 Sell 0.3239
EU€GH¢ Buy 6.3345 Sell 6.3400
CHN¥GH¢ Buy 0.7979 Sell 0.7986
GH¢CFA Buy 103.4632 Sell 103.5531
GH¢NG₦ Buy 63.7044 Sell 63.8814

CRYPTOCURRENCY MARKET
Bitcoin $9,420.99