Business

The Ghana government has announced moves to establish a new oil refinery in the Western part of the West African country.

The International Monetary Fund Boss Christine Largarde has announced the funds support to Mauritania in its ongoing reform.

Ghana may begin hedging oil imports under a new risk management strategy to keep fiscal consolidation on track as global crude prices recover. That’s what the Reuters news agency is gathering from Ghana's Ministry of Finance. Oil hedging is used to reduce or eliminate a country’s exposure to fluctuating oil prices.

Zimbabwe has the second largest informal economy as a percentage of its total economy in the world, after Bolivia, the International Monetary Fund has said.

China's smartphone market has fallen for the first time, with annual shipments down by 4% in 2017, according to data from research firm Canalys.

International Monetary Fund Boss Christine Lagarde has welcomed a commitment by Zimbabwe’s new President Emmerson Mnangagwa to stabilize the country’s economy and work to improve relations with the international community. Lagarde met with Mnangagwa on the sidelines of the World Economic Forum in Davos, Switzerland. It was their first meeting since Mnangagwa took power in November when the military ousted Robert Mugabe, who ruled for 37 years.

Three Ghanaian cocoa farmers have been awarded at the 2017 edition of the Cocoa Excellence Awards ceremony, for having the best of the world’s standard for cocoa. The farmers are; Simon Marfo, John Kofi Asiamah, and Noah Obeng. The awards ceremony which took place in Paris – France, is held every two years to award the hard work of cocoa farmers across the world.

One of the biggest financial services company in the world, JP Morgan Chase & Co has announced its intention to establish branches in Ghana and Kenya. The company, which declared 96.7 billion dollars in revenue in 2016 is targeting multinational companies operating in Ghana’s oil and gas industry

Some European countries have signaled their willingness to lift sanctions imposed on Zimbabwe during the Robert Mugabe era for almost two decades.

MTN, Africa's biggest mobile operator, is gunning to become Africa's biggest bank. The ambitious business strategy was revealed by MTN CEO Rob Shuter yesterday during the Deloitte Africa in 2018 Outlook conference in Woodmead. "The core digital service that we have decided to put our money on is Mobile Money," said Shuter. Mobile Money is really about leveraging the strength of the brand and leveraging the strength of the distribution because we have built a huge informal distribution network for prepaid airtime to bring customers into a transactional banking system."