business news

Kenya opens second overseas investment promotion office in Saudi Arabia to attract Gulf capital
business

Kenya opens second overseas investment promotion office in Saudi Arabia to attract Gulf capital

NAIROBI, Kenya – Kenya is expanding its overseas investment promotion network to the Middle East with plans to establish a dedicated office in Jeddah, Saudi Arabia, to attract foreign investment and strengthen commercial ties with Gulf businesses. The initiative targets Saudi Arabia, which the Kenya Embassy in Riyadh describes as an important trade and investment partner, with significant potential for expanding bilateral commerce and attracting foreign direct investment.

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Daily Insight for CEOs series
business

Daily Insight for CEOs series

WEEK 2: Financial Performance, Cash Flow & Business Sustainability November 9–13 Monday, November 9: The CEO’s Responsibility for Financial Performance Strengthen executive attention to financial results, profitability, cash flow, and financial sustainability. WEEK 3: Governance, Risk Management & Institutional Leadership November 16–20 Monday, November 16: The CEO’s Role in Strengthening Corporate Governance Reinforce transparency, accountability, ethical leadership, and effective board-management relationships.

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business

Reps move to reform 69-year-old Trustee Investment Act

By Gift ChapiOdekina, Abuja The House of Representatives has begun moves to reform Nigeria’s 69-year-old Trustee Investments Act, while seeking a coordinated regulatory framework to tackle fraud, fragmented property records and weak consumer protection in the real estate sector. Abbas, represented by a member of the House representing Lafia/Obi Federal Constituency, Nasarawa State, Dahiru Abubakar Sarki, spoke on Monday at a public hearing on the Trustee Investment Act (Repeal and Enactment)

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UEW Co-operative Credit Union reduces interest on loans to promote regular savings
business

UEW Co-operative Credit Union reduces interest on loans to promote regular savings

The UEW Co-operative Credit Union is intensifying efforts to improve members’ financial security through regular savings, affordable loans and digital banking services. Mrs Nelson further revealed that the Credit Union has qualified for licensing by the Bank of Ghana under the ongoing reforms of the microfinance sector, with licensing expected in December 2026.

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ECG targets December deadline for power upgrades in Bekwai, Offinso and Barekese
business

ECG targets December deadline for power upgrades in Bekwai, Offinso and Barekese

The Electricity Company of Ghana (ECG) is targeting the completion of critical power infrastructure upgrade projects in three communities in the Ashanti Region by December this year, in a move aimed at improving the reliability of electricity supply. Speaking during a courtesy call on the Ashanti Regional Minister, the Deputy Managing Director in charge of Technical Services at ECG, Ing.

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KIC and Mastercard Foundation announce Winners of 2026 AgriTech Challenge Pro
business

KIC and Mastercard Foundation announce Winners of 2026 AgriTech Challenge Pro

The Kosmos Innovation Centre (KIC), in partnership with the Mastercard Foundation, has announced the winners of the 2026 AgriTech Challenge Pro. Speaking at the event, Stanley Amamu, Programs Manager for KIC, highlighted: “At the Kosmos Innovation Centre, we believe that Africa’s agricultural transformation will be driven not only by what we produce, but also by how we innovate, how we build businesses and how we create opportunities for young people to participate in the agricultural value chain”.

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2027 Budget to turn economic stability into jobs — Deputy Finance Minister
business

2027 Budget to turn economic stability into jobs — Deputy Finance Minister

The government will use the 2027 Budget to turn Ghana’s economic stability into jobs, productive investment, and improved living standards, Deputy Finance Minister Thomas Nyarko Ampem said. Speaking at the Ghana Statistical Service’s Ghana Numbers, 2025 programme, Mr Ampem indicated that the budget would likely be themed “Moving Ghana from Stability to New Economy”.

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Belgian PM Tenders Resignation Over Budget Impasse
business

Belgian PM Tenders Resignation Over Budget Impasse

Belgian Prime Minister Bart De Wever tendered his resignation to King Philippe on Monday over deadlocked budget talks, but the monarch deferred his decision until after a new meeting on Friday. A similar budget impasse occurred a year ago, when De Wever nearly tendered his resignation to the king.

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Kenya eyes regional maritime security hub as Red Sea threats widen
business

Kenya eyes regional maritime security hub as Red Sea threats widen

At a Kenya-European Union security forum in Nairobi, regional security officials and European maritime experts called for stronger cooperation, intelligence sharing and investment in local capabilities to address threats extending beyond piracy to include geopolitical competition, interstate tensions and asymmetric warfare. European Union maritime security expert Captain Hans Huyghens said Kenya was well placed to become a regional centre for maritime training, operational coordination and inter-agency cooperation, building on its existing role in multinational maritime security initiatives.

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KMA approves 2027 budget to prioritize infrastructure and improved sanitation
business

KMA approves 2027 budget to prioritize infrastructure and improved sanitation

Kumasi Metropolitan Assembly (KMA) is renewing its focus on infrastructure development, improved sanitation, and strengthened efforts to restore Kumasi’s status as the Garden City as part of its major budgetary targets and developmental policies for 2027. Meanwhile, the Presiding Member of the KMA, Patrick Kwame Frimpong, appealed to the presidency and the Ashanti regional coordinating council to prioritise the completion of the abandoned Krofrom Market project.

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GPCL tackles liquidity crisis; pays 13th-month salary and increases basic salaries by 40%
business

GPCL tackles liquidity crisis; pays 13th-month salary and increases basic salaries by 40%

The Ghana Publishing Company Limited (GPCL) says it has overcome significant liquidity challenges that previously threatened its operations, enabling management to pay a 13th-month salary and increase workers’ basic salaries by 40 per cent in 2025. Presenting the company’s performance at the Government Accountability Series at Jubilee House on Monday, November 2, Mr Boatey said the improvements had also enabled management to address outstanding legacy debts and expand investment in production capacity.

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BoG warns foreign-currency stablecoins could threaten monetary sovereignty
business

BoG warns foreign-currency stablecoins could threaten monetary sovereignty

The Bank of Ghana (BoG) has warned that the growing use of foreign-currency stablecoins could undermine the country’s monetary sovereignty and weaken its ability to implement monetary policy. The BoG is also working with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC) to develop regulatory instruments and supervisory arrangements for virtual assets.

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Snowball fight: Cadbury owner in trademark row over festive chocolate treat
business

Snowball fight: Cadbury owner in trademark row over festive chocolate treat

Mini Snow Balls’ maker Mondelēz is demanding vegan brand Moo Free remove its White Choccy Snowballs from shelves Toblerone owner sues British vegan chocolate brand over chunky shape The owner of Cadbury and Toblerone has demanded that a small vegan chocolate brand remove its products from shelves in a trademark dispute over the use of the word snowball. Mondelēz International has written a legal letter to Moo Free accusing it of trademark infringement by selling its White Choccy Snowballs – gluten free biscuit-flavoured rice balls covered in dairy free white chocolate.

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Sales slump at UK’s largest brickmaker as housebuilding downturn deepens
business

Sales slump at UK’s largest brickmaker as housebuilding downturn deepens

Ibstock, which has cut production by a fifth, criticises government for delay in help for housing sector Sales at the UK’s largest brickmaker plunged by more than a fifth over the summer, as it criticised the government for not introducing fresh help for the housing sector faster. Leicestershire-based Ibstock said on Monday that sales slumped by 22% below its expectations in the three months to the end of September, prompting it to slash production levels by a fifth.

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Export truckers allege N50,000 charges per container at Tin Can port
business

Export truckers allege N50,000 charges per container at Tin Can port

By Efe Onodjae Truck owners operating around the Tin Can Island Port corridor, Lagos, have raised the alarm over alleged multiple charges imposed on export-laden containers, claiming that the payments amount to about N50,000 per container and undermine efforts to promote non-oil exports. The Chairman of the Association of Container Truck Owners of Nigeria, ACTOAN, Ridwan Bello, who raised the concern, accused the Nigerian Ports Authority, NPA, and other agencies operating around the port corridor of creating additional hurdles for truckers despite the introduction of the electronic call-up…

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