business news

European gas prices soar to four-year high over winter supply fears
business

European gas prices soar to four-year high over winter supply fears

Jump fuelled by fears of further Middle East supply disruptions amid reports of US-Israeli plans to strike Iran European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and ongoing conflict in the Middle East. Wholesale gas prices hit €97 (£81) per megawatt-hour on Monday, as temperatures across Europe fell and traders priced in stronger demand for heating.

Read →
MTN Ghana rewards over 30,000 customers as nine others win Toyota Land Cruiser Prados
business

MTN Ghana rewards over 30,000 customers as nine others win Toyota Land Cruiser Prados

MTN Ghana has rewarded more than 30,000 customers with cash prizes, while nine subscribers have won brand-new Toyota Land Cruiser Prados as part of activities marking the company’s 30th anniversary. At a presentation ceremony in Accra, Senior Manager for Consumer Marketing at MTN Ghana, Sandra Adu Antwi, said the promotion was designed to give back to customers as part of the company’s anniversary celebrations.

Read →
Ruto Announces Sh70bn Cement Factory in Kitui, Says Project Will Create 4,000 Jobs
business

Ruto Announces Sh70bn Cement Factory in Kitui, Says Project Will Create 4,000 Jobs

KITUI, Kenya, Oct 26, 2026 — President William Ruto has announced plans to launch a Sh70 billion cement and clinker factory in Ngaaie, Mwingi North Constituency, Kitui County, on Tuesday, in a project expected to create 4,000 jobs and boost economic activity in the region. The President also launched construction of the 55-kilometre Twimiwa-Tseikuru-Usweni road in Mwingi North Constituency.

Read →
Customs urges importers, exporters to minimise documentation errors to enhance efficiency
business

Customs urges importers, exporters to minimise documentation errors to enhance efficiency

The Customs Division of the Ghana Revenue Authority (GRA) has urged importers, exporters and other actors in Ghana’s international trade ecosystem to minimise documentation errors, cautioning that inaccurate or incomplete declarations contribute significantly to delays in Customs processing and ultimately increase the cost of doing business. Rubben Kwaku Satu, Esq., Supervisor at the Customs Technical Services Bureau (CTSB) and officer in charge of Strategy, Planning, Monitoring and Evaluation, identified the lack of supporting documentation for declarations and appeals; data-entry errors…

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

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.

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

$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.

Read →
NDCCITMA board chair bags change and good governance award
business

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…

Read →
What will a pedestrianised Oxford Street mean for transport?
business

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.

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

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.

Read →
Ebenezer Adjetey Sowah appointed Genkas Energy MD
business

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.

Read →
business

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…

Read →
Nigeria must manufacture meters locally, secure sustainable financing — Experts
business

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.

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

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.

Read →
Nairobi Water Shutdown to Hit Parts of Nairobi for Three Days
business

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.

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

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.

Read →