Kofi Ahovi

First Atlantic Bank Limited has made a donation towards the 15th anniversary celebration of Otumfuo Osei Tutu II during a courtesy call on him at the Manhyia Palace. Ben Barth, a member of the Bank’s Board of Directors led a delegation made up of the MD/CEO, Gabriel Edgal, Daniel Wilson Addo, Executive Director and other senior Staff from the bank to officially congratulate Otumfuo on the milestone. Ben Barth on behalf of the Board Chairperson used the opportunity to formally inform Otumfuo of the bank’s rebranding and re-launch which according to him is the first of efforts by the Board and Management of First Atlantic Bank to re-invent a bank that is tuned to the discipline of global best practices and the passion of delivering a refreshingly different banking experience for every one that honours us with their business. “Re- launching the bank in Kumasi is to demonstrate our faith and commitment to the industrious, hardworking and illustrious people of Asanteman”. He added. ...

British Airways is offering a limited number of very special discount fares for its Ghanaian passengers in celebration of the launch of the 747 aircraft. The airline has reduced its fair to US$74, excluding taxes, for a return trip. Passengers wishing to take advantage of the discount fares can book now but flights are schedule for the beginning of the April. Moran Birger, British Airways commercial manager for Ghana says the “astonishing” US$74 fare is in line with the airline’s promise to “keep exciting our Ghanaian customers”. British Airways is increasing capacity to Ghana by over 1 000 seats a week, just six months after it upped its schedule between London and Accra from seven to 10 services a week. From the end of March it will start operating Boeing 747-400s on the route, replacing the smaller Boeing 777s. The 747-400 is able to accommodate 337 customers in a four-cabin configuration – First, Club World, World Traveller Plus and World Traveller. Birger, says when the sum...

Barclays Ghana records GH¢202 m profit Barclays Bank ended last year with a profit of GH¢202.5 million, representing a 35 percent increase in earnings for 2013 from GH¢150 million recorded for 2012. This makes Barclays the second most profitable bank after Standard Chartered Banks' GH¢208 million, according to the financial results released so far by commercial banks in the country. Speaking at the Bank's Annual General Meeting Luncheon, Managing Director, Patience Akyianu, said the bank will explore digital channels to grow their profits even more for this year. "We will also focus on some key thematic initiatives to drive the achievements of the bank's short-term plan, in our bid to become the ‘go-to’ bank in Ghana", she revealed. She adds that their impressive 2013 bottom line is the result of a progressive income growth, and not merely from impairment releases and savings in costs. She maintained that a renewed focus on business banking and recogni...

The long-awaited implementation of domestic content legislation on February 1 is expected to help improve participation rates by local businesses in Ghana’s oil and gas sector. As is the case in many resource-rich countries, Ghana has faced challenges in ensuring the gains from its 2007 discovery of the roughly 100,000 barrel per day (bpd) Jubilee field translate into domestic jobs and spending. The new law, formally known as the Petroleum Regulation on Local Content and Participation, was approved by parliament last year after lengthy debate, and if executed effectively, has the potential to improve indigenous capacity in the hydrocarbons sector. According to the new rules, local businesses will be given first preference in bids for petroleum licences, while Ghanaian companies must have at least a 5% stake in every contract awarded to an international investor. Industry reaction mixed The government has said it is aiming to achieve 90% local participation by 2020, an ambitiou...