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Author Archives: Pius Amihere Blay

BoG gets tough on Financial Holding Companies with new directive

bog microfinance

The Bank of Ghana has revived its supervisory role with yet another directive for the financial sector. In the latest move, the central bank throws its spotlight on the Financial Holding Companies. As a result, the regulator wants managers of Financial Holding Companies to comply with the provisions so as not to jeopardize the sanctity of the financial industry. This ...

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Parliament passes Bills for NHIL, GETFund levies

Parliament House of Ghana

Parliament has passed the four tax amendments to reflect the reality of government policy as announced in the Mid-Year Budget Review. The Bills are the Ghana Education Trust Fund (GETFund) Amendment Bill, The National Health Insurance Levy (NHIL) Amendment Bill, The Income Tax Amendment Bill and the Value Added Tax Amendment Bill. A final Bill, the Luxury Vehicle Levy Bill, was also ...

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PBC records losses in 2017; marks 2nd time in a row


The Produce Buying Company (PBC) is embarking on major cuts in administrative expenses to sustain the company’s operations. It follows the company’s losses for yet another time as at December 2017. PBC recorded a loss after tax of 22.4 million cedis in 2017; up from the 15.92 million cedis recorded the preceding year. A development the company attributed to the ...

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IES joins calls to stop amendment to AMERI deal

Ameri Power Plant in Ghana

Opposition has intensified against the new arrangement on the AMERI power deal which is currently before Parliament. The latest to resist the new plan is the Institute of Energy Security (IES). The energy think tank believes the country risks paying more when the deal is agreed upon, in its current form. The IES also cautions that the situation is dire ...

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Republic Bank Ghana appoints new board member


Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited has announced the appointment of Mr. David Addo-Ashong as a member of the Board of Directors of the Bank. His Confirmation came following the approval of his appointment by the Bank of Ghana and the Ghana Stock Exchange. Mr. David Addo-Ashong is a Partner at Ashong Benjamin & Associates. He ...

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Jumia Anniversary ends with EXPLOSION DAY

Jumia 1

Jumia Ghana is celebrating its 6th anniversary in Africa. As a result it is running a promotion to reward all its loyal customers. The two weeks of good discounts are finishing on the July 29th. In less than 2 weeks, the company also recorded a record sale with over 3million Ghanaians visiting the site in less than a month. Chief ...

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Bosch launches local invoicing in Ghana


Bosch Group, a supplier in technology and services has launched its local invoicing in Ghana. The group, which set up an office in the country in 2015 has defined Ghana as the hub for its Automotive Aftermarket division across West and Central Africa, covering a total of 19 countries. According to the Managing Director for Bosch Ghana, Emmanuel Adjei , the invoicing ...

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GUTA accuses Carlos Ahenkora of bad faith [Audio]


The Ghana Union of Traders Association (GUTA) has threatened to boycott deliberations with the government on getting foreign traders out of Ghana’s retail markets. The threat follows what the union describes as bad faith on the part of the Ministry of Trade and Industry in unilaterally taking a decision to suspend an exercise to remove foreigners out of Ghana’s retail ...

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Gov’t increases minimum wage by 10%

Ghana Cedi

Government has announced a 10 percent increase in the daily minimum wage for workers. As a result, the new minimum wage is pegged at 10 cedis 65 pesewas from 9 cedis 68 pesewas. The change will take effect on 1st January 2019. The decision was taken after a meeting held by the Tripartite Committee made up of   government, labour and ...

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Anglogold Ashanti appoints new CEO

Kelvin Dushnisky

Anglogold Ashanti has appointed Kelvin Dushnisky as the CEO and Executive Director of the company. His appointment takes effect from September 1st 2018. He replaces Srinivasan Venkatakrishnan who will be exiting the company by the end of August. Mr.  Dushnisky joins Anglogold Ashanti from Barrick Gold Corporation where he serves as the President and Executive Director. A statement from Chairman ...

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