🚩 Societe Generale has expressed its readiness to support Small and Medium-sized Enterprises (SMEs) with more than GH¢700 million funding. According to the bank, the support is part of its global growth strategy for this year and also in the bid to support the development of the country through small businesses. Speaking to JoyBusiness after his outfit’s engagement with the media, Managing Director of SG Ghana, Hakim Ouzzani said, “We have for the three coming years, more than GH¢700 million, as an envelope for the financing of the SMEs in Ghana.”
🚩 Following recommendation by directors of MTN Ghana, shareholders are set to receive as payment of final dividend to the tune of about Gh¢368.71 million for the 2018 financial year. According to the company’s 2018 financial statements, the number of ordinary shares in issue is 12,290,474,360, of which each share has earned Gh¢0.03. Dividend amounting to Gh¢1.31 billion was declared for the year ended December 31, 2018 (2017: Gh¢470 million, Gh¢0.04 per share). This consisted of a special dividend of Gh¢1.07 billion paid to pre-initial public offering (IPO) shareholders and an interim dividend of Gh¢245 million (Gh¢0.02 per share) paid to post-IPO shareholders.
🚩 The hefty tariff on soybeans from the United States has caused a 17 percent import decrease of the produce into China in February 2019, being the lowest level recorded since 2015, General Administration of Customs – Chinese statistical agency, has revealed. In 2017, U.S. soybean exports to China reached a volume of US$14.57 billion. Currently, the United States is the world’s largest soybean producer and second largest exporter, after Brazil. On the other hand, China is the world’s largest importer of soybeans – imported 91 million tonnes in 2018 market year as against 94 million tones the previous year.
🚩 Food commodity prices outlook for the month of March have been projected to drop. Data released on the performance of commodities for the month of February by Esoko, explained that this projection is based on the sentiments of farmers to sell all their old stock to raise enough money to purchase input for the new season. However, the net effects of the close of February commodity trading, with price picking up, the early part of March should be expected to see this effect remaining.
🚩 The Bank of Ghana(BoG) says it is confident that works on the Payment Systems and Services Bill being done by parliament will be completed by the end of June this year. The Payment Systems and Services Bill has been in parliament for about 2 years. When passed into law it is expected to further strengthen the regulatory environment and provide additional support for non-banks to establish, and operate businesses offering electronic payment services.
🚩 As part of efforts to sanitize and regularize mining operations in the country, the Ministry of Transport (MOT) has called on owners of mining companies to register all earth moving equipment no later than March 31, 2019. According to the Ministry in a press statement, the registration of the vehicles should be done with the Driver Vehicle and Licensing Authority (DVLA), the Authority mandates by law to license and register all motorized vehicles.
🚩 Parliament has passed into law an amendment of the Ghana Civil Aviation Act to further improve safety and strengthen security in the aviation industry.The amendment is to ensure that Ghana is ICAO (International Civil Aviation Organization) compliant. According to Joseph Kofi Adda, the Aviation Minister who moved the motion for the adoption of the bill on Friday, the sector is already doing well by global standards.
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