business news

Time to Reform the Ghana Reference Rate: From treasury bill yields to banks’ deposit costs

How the formula works Existing componentWeightWhat it represents Monetary Policy Rate (MPR)40%The central bank’s policy signal Interbank rate (IBR)20%The rate banks pay to borrow from one another Reserve-adjusted 91-day Treasury bill rate (T₉₁)40%Government’s short-term borrowing rate, increased for reserves and vault cash Here, T₉₁ is the annualised 91-day Treasury bill rate. The Treasury bill component has more leverage than it appears With CRR at 20% and CIV at 2%, a one percentage-point rise in the raw Treasury bill rate increases the formula-based GRR by 0.513 percentage points.

$110 oil price: Windfall or warning?, By Posi Olatubosun

Windfall or warning?, By Posi Olatubosun. Ultimately, Nigerians will likely gauge this oil boom not by Brent crude prices, but by the results it delivers: reduced debt, stronger reserves, improved infrastructure, and meaningful support for vulnerable households.

Tell Modi to sack Gyanesh Kumar, protests will stop in 30 seconds: Rahul to traders

Tell Modi to sack Gyanesh Kumar, protests will stop in 30 seconds: The Chamber of Trade and Industry (CTI) has urged Mr. Gandhi to postpone the INDIA bloc's November 1 rally at Delhi's Ramlila Maidan until after November 10, warning that it could disrupt business worth ₹10,000 crore during the peak Diwali shopping season

NDCCITMA board chair bags change and good governance award

The Chairman of the Niger Delta Chambers of Commerce, Industry, ,Trade, Mines and Agriculture NDCCITMA, Idaere Gogo – Ogan has received the meritorious “Change and good governance” award from the Independent Magazines Publishers Association of Nigeria IPMAN. And , there is a difference between speaking about development and building the partnerships that can make the development a reality, and it is on these virtues that the Independent Magazine Publishers Association of Nigeria proudly recognize Chief Idaere Gogo – Ogan” He described the recipient whose wrath if experience spanning across…

AI cloud computing companies face ‘guppy-level death’, Elon Musk warns, as funding dries up – business live

The flow of funding which has helped the AI industry to grow rapidly could be running dry, at least for some firms in the cloud computing world, Elon Musk has warned. 9am: IFO German business climate 11am: CBI distributive trends survey of UK retail Continue reading...

Set aside Mann Ki Baat to focus on people's concerns: Cong slams PM on inflation

Set aside Mann Ki Baat to focus on people's concerns: Jairam Ramesh shared on X a media report which cited the RBI to state that the prices of certain food items are continuously rising which is impacting the expenses of every household

Unilever, Stanbic IBTC, Cornerstone Insurance top stock pick this week

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

What will a pedestrianised Oxford Street mean for transport?

A stretch of Britain’s most famous shopping street is to be vehicle-free as part of £150m government-backed scheme Much of Britain’s most famous shopping street will be closed to traffic from Monday as the long-awaited pedestrianisation of London’s Oxford Street begins. About half of the 1.2 mile street will initially be vehicle-free, after decades of planning and dispute over how to best use the street, an important transport thoroughfare and the home for flagship stores for big shopping chains.

ECG schedules maintenance works across six regions from October 26 to 30

The Electricity Company of Ghana (ECG) is undertaking planned and emergency maintenance works across selected communities in six regions from October 26 to October 30, 2026, as part of efforts to improve power supply reliability. The works will affect parts of Accra East, Accra West, Tema, the Central Region, the Volta Region and the Ashanti Region.

Drunk bike taxi rider bites traffic constable in Hyderabad

Ebenezer Adjetey Sowah appointed Genkas Energy MD

Energy expert and a member of the International Society of Petroleum Engineers, Ebenezer Adjetey Sowah, has been appointed Managing Director of Genkas Energy Ltd, effective September 30, 2026. The appointment was confirmed by the Board of Directors, with Board Chairman George N. Owodo and Board Secretary Anette Adjavon signing the appointment letter on behalf of the company.

BACCIMA seeks dredging of Badagry channel for enhanced trade

By Godwin Oritse The Badagry Chamber of Commerce, Industry, Mines and Agriculture (BACCIMA) has called for the immediate and sustained dredging of the Badagry Channel to boost maritime trade and strengthen economic ties among countries in the West African sub-region. Speaking to Vanguard on the sidelines of the recently concluded World Maritime Day celebration at the Lagos Continental Hotel, the immediate past president of BACCIMA, Yahaya Idris, said the Badagry Channel had become a vital trade route for traders along the West African coast, particularly those from Nigeria, Benin Republic and…

Nigeria must manufacture meters locally, secure sustainable financing — Experts

By Esther Ihejirika Electricity sector experts have called for increased local meter manufacturing, sustainable financing and wider adoption of smart technology to accelerate meter deployment and close Nigeria’s metering gap. Durosola Omogbenigun, President, Meter Manufacturers Association of Nigeria, called for a national metering plan involving the Federal and state governments, electricity distribution companies, investors, regulators and local manufacturers.

Dangote charts path to Africa’s industrial revolution, prioritises power, financing

Africa’s ambition to become global industrial powerhouse hinges on its ability to mobilize long-term financing, deliver reliable electricity and adopt policies that turn its vast natural resources into manufactured products, President/Chief Executive, Dangote Industries Limited, Aliko Dangote, has declared. The industrialist also drew on his experience developing the Dangote Petroleum Refinery in Lagos to illustrate how Africa’s financing environment could frustrate even commercially promising projects.

Nairobi Water Shutdown to Hit Parts of Nairobi for Three Days

The interruption is expected to affect residential estates, hospitals, businesses and institutions across several parts of the city, including Westlands, Parklands, Lavington, Kilimani, Kileleshwa, Lang’ata, Karen, Nairobi West and Upper Hill. In Upper Hill, the shutdown is expected to affect Kenyatta National Hospital and Nairobi Hospital, while residents of Lang’ata will experience interruptions in areas including Uhuru Gardens, Southlands, Civil Servants Estate, Moi Lang’ata Barracks, Sunvalley and Royal Park.

Domestic crude supply to refineries declines 6.3% to 15.97mb —NMDPRA

The September 2026 Midstream and Downstream Report released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday shows that the decline in crude supply coincided with a 23.4 per cent drop in average daily petrol supply to 38.7 million litres from 50.5 million litres in August. The NMDPRA said September petrol receipts declined as domestic supply fell 21 per cent below August levels, while imports dropped by 30 per cent amid the exhaustion of approved import permit volumes.

Stock market extend losses, 55 stocks depreciate

…As 20 record capital gains By Peter Egwuatu Share prices of 55 companies listed on the Nigerian Exchange Limited (NGX) depreciated last week following profit taking by the investors. In similar manner, the NGX All Share Index, ASI, close lower to 247,222.27 points from 247539.73 points.

Massive fire near Jammu Railway Station guts around 40 shops in market

The blaze continued to rage for nearly five hours, leaving behind a trail of destruction and dealing a major blow to shopkeepers whose livelihoods depended on the market

South Africa to allow fund managers 100% foreign assets under new framework

The South African Reserve Bank, National Treasury and the Johannesburg Stock Exchange briefed investors on the draft Synthetic Financial Centre (SFC) framework, published on Wednesday, which would ​allow licensed asset managers, banks, insurers and private equity firms to manage ​global portfolios in any currency from a South African base. Stuart Theobald, executive chairperson of Krutham, a think tank, and convenor of Operation Phumelela, ​a private sector initiative led by the JSE to boost the competitiveness ​of South Africa’s financial sector, called the lifting of the cap “the most…

Health hazzard: Fruit vendors use laundry detergents to sparkle produce for profit

Read Also: Unhealthy profit: Fish vendors now using dye to fake freshness Economy&Lifestyle findings revealed that several local fruit vendors are systematically washing their produce with synthetic laundry detergents and liquid soaps. On his part, Audu Musa, a fruit seller said: “The use of laundry detergent to wash fruit is to remove the dirt of mud from them and make them attractive to consumers.

Banks’ credit to manufacturers falls 26.8% to N5.19trn

Banks’ credit to manufacturers falls 26.8% to N5.19trn. *… as credit guarantees unlock N47bn *MAN seeks stronger guarantee coverage, N1trn stabilisation fund *Nigeria needs $35bn yearly to industrialise —BoI *Guarantees critical to boosting access to finance — CPPE *FG advocates coordinated financing framework By Yinka Kolawole Loans extended by Nigerian banks to the manufacturing sector fell by 26.8 per cent year-on-year to N5.19 trillion in the first half of 2026 (H1’26), from N7.09 trillion in the corresponding period of last year (H1’25). Data from the Central Bank of Nigeria’s (CBN) Q2…

Stock market extend losses, 55 stocks depreciate; 20 record capital gains

By Peter Egwuatu Share prices of 55 companies listed on the Nigerian Exchange Limited (NGX) depreciated last week following profit taking by the investors. In similar manner, the NGX All Share Index, ASI, close lower to 247,222.27 points from 247539.73 points.

Australia's second largest veggie company admits 'cartel conduct'

Perfection Fresh Australia has admitted fixing the price of broccoli, cauliflower and lettuce sold to Aldi stores in New South Wales.

Foreign participation in capital market strengthens considerably in half-year 2026

Foreign investor participation in the capital markets strengthened considerably in the first half of 2026, according to the September 2026 Monetary Policy Report. Meanwhile, Ghana’s sovereign risk spreads have been relatively stable since the last Monetary Policy Committee (MPC) meeting and compared favourably with peer economies in the sub-Saharan Africa region.