Business and Finance - Periodic Lens

02 Sep

Tourism Ministry Signs MoU With Malta

periodiclens.com0 CommentsBusiness and Finance, Featured

The Ministry of Tourism, Arts and Culture on Monday, 26th August 2024, signed a Memorandum of Understanding (MoU) with the Mediterranean Tourism Foundation of Malta, marking a significant step in strengthening cultural and tourism ties between the two countries. The MoU aims to foster collaboration in areas such as cultural exchange, tourism development, as well as investment opportunities. The agreement reflects a mutual interest in leveraging tourism as a means of economic growth and cultural enrichment. Malta’s tourism contributes significantly to its GDP and offers valuable insights and opportunities for Ghana. Through this partnership, both nations are expected to benefit…

03 Aug

Banks Spend Over US$500M Buying Private Jets – Femi Otedola

periodiclens.com0 CommentsBusiness and Finance, Featured

Nigerian tycoon Femi Otedola has expressed concern about the excessive spending of the country’s banks. He argues that Nigerian banks spend an estimated $50 million annually just on maintaining private jets, with over $500 million spent on purchasing nine private jets by four banks. Otedola, who is also the Chairman of First Bank of Nigeria (FBN), believes that banks operating in the country should reduce their lavish spending. He expressed strong support for imposing a new windfall tax on banks to rebuild public trust and support the domestic economy. “Nigerian banks are spending an estimated $50 million annually just on…

02 Aug

Unlocking Growth: Alternative Financing for African Small Businesses

periodiclens.com0 CommentsBusiness and Finance, Editorials

Introduction In the dynamic nature of African economies, small businesses are the backbone of innovation and employment. Traditional financing models often fail to meet their unique needs, creating a demand for alternative financing solutions. This comprehensive guide explores the diverse avenues of alternative financing available to African small businesses, offering insights into their benefits, challenges, and implementation strategies. The Role of Small Businesses in African Economies Small businesses play a crucial role in African economies by driving innovation, creating jobs, and contributing to GDP growth. Despite their importance, these enterprises often face significant challenges in accessing finance through traditional banking…

20 Mar

IMF Boss Commends Ghana’s Economic Progress

periodiclens.com0 CommentsBusiness and Finance, Local News

IMF Boss Commends Ghana - The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has lauded Ghana for its remarkable economic achievements and encouraged the nation to persevere in its current path of development. During her recent visit to Ghana, Georgieva met with President Nana Addo Dankwa Akufo-Addo and other key officials, including Vice-President Dr Mahamudu Bawumia and Finance Minister Dr Mohammed Amin Adam. The discussions centered on Ghana's successful implementation of its IMF program, which has yielded positive results in various economic indicators. Ghana's economy has shown resilience and exceeded expectations in areas such as growth, inflation,…

19 Mar

Embrace AI for Development – IMF Managing Director to Ghana

periodiclens.com0 CommentsBusiness and Finance, Local News

Embrace AI for Development: The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has urged developing countries like Ghana to seize the opportunities presented by Artificial Intelligence (AI) for mutual growth. Speaking at an AI summit centered on exploring AI's challenges and opportunities in developing nations, themed "AI as a Catalyst to Transform Economies in Sub-Saharan Africa," Ms. Georgieva emphasized the potential benefits of AI adoption. The summit featured a panel discussion aimed at delving into AI's implications for emerging economies, with a particular focus on Ghana's digitalization and AI readiness. The goal was to develop strategies for…

21 Aug

German Producer Prices fall at fastest rate since 2009

periodiclens.comBusiness and Finance, General NewsBusiness, Economy, Finance, Germany, Product Prices

German Producer Prices fall at fastest rate since 2009 - German producer prices have shown a steeper than anticipated decline, indicating a swift alleviation of inflationary pressures within Europe's largest economy. The significant drop of 6 percent in prices charged by companies for goods produced in the year leading up to July marks the most rapid decrease since 2009. This deflationary trend has been predominantly driven by substantial reductions in wholesale energy prices, as per data released by the federal statistical agency. Economists Predicted Economists surveyed by Reuters had originally projected a 5.1 percent decrease, underscoring the unexpectedly pronounced nature…

31 Jul

Passive Income Ideas to Achieve Financial Freedom

periodiclens.comBusiness and Finance

Introduction In this blog post, we will explore 15 proven and lucrative passive income ideas that can help you achieve financial freedom. Whether you're looking to supplement your current income, save for retirement, or escape the rat race, these ideas can pave the way for a more secure and prosperous future. What is Passive Income? Before we delve into the ideas, let's understand what passive income is. Passive income refers to earnings that require minimal effort or ongoing involvement once set up. Unlike active income, which relies on trading time for money, passive income streams work tirelessly for you, generating…