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Importers & exporters plead with govt to amend port systems

importers

The Association of Importers and Exporters Association of Ghana have  pleaded with government to review the Gate-In and Gate-Out system implemented by customs at the ports. Its implementation was to help importers and exporters enjoy flexible and quick registration and checking at the ports. However according to the association, it has rather impacting negatively on their operations. The association told ...

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Former BoG boss urges FNB to list on GSE

Michael-Larbie-Board-Chairman-FNB

The immediate past governor of the Bank of Ghana Dr. Henry Kofi Wampah has called on South African lender First National Bank (FNB) to consider listing on the Ghana Stock Exchange (GSE). According to Dr. Henry Kofi Wampah that will help deepen participation in the capital market and allow Ghanaians accept the bank as a Ghanaian company. His assertions follows ...

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Dr Wampah’s fall from grace

Dr. Henry  Kofi Wampah is outgoing Governor of  BoG

Since outgoing Bank of Ghana Governor Dr Henry Kofi Wampah’s decision not to seek a second term in office and indeed cut short his first and only one, was made public on Tuesday, the abrupt end to his career as central bank chieftain has dominated the attention of the financial media as well as the financial services industry itself. Since ...

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Wampah expresses gratitude to financial sector as he bids farewell

Dr. Henry  Kofi Wampah is outgoing Governor of  BoG

Outgoing governor of the Bank of Ghana Dr Henry Kofi Wampah has expressed gratitude to the financial sector for their support during his tenure. The governor who is bowing out today from his position for early retirement also thanked the finance minister Seth Tekper for his support. Dr Henry Wampah was due to retire from the bank in August this ...

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Fitch warns govt on budget overruns in election year

Fitch warns govt on budget overruns in election year

Government’s expectation of attaining fiscal overruns of 5.3 percent ahead of an election year could face challenges as credit rating agency, Fitch, predicts a rise of 6.3 percent. The agency in its latest release maintained that fiscal challenges would increase inflationary and financing pressures, causing a decline in commodity prices that would negatively impact growth and exacerbate the country’s deficit. ...

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PFAG appeals to Govt to redirect GHS35m into small-holder farming

farmers

The Peasant Farmers Association of Ghana (PFAG )has appealed to government to  re-channel  a 35 million Ghana cedis allocated for Green House  Technology and Capacity Building into supporting small-holder farmers. According to the leadership of the association, funds allocated in the 2016 budget for the development of the agriculture sector is insufficient, hence the need to make prudent use of ...

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2016 Eurobond road show to start in April

Seth Terkper is Finance Minister.

Ghana may commence a road show for its fifth Eurobond next month to raise US$700 million for infrastructure development. The road show which would be led by Finance Minister, Mr. Seth Terkper will include individuals from government’s economic team and the Governor of the Bank of Ghana (BoG) The team is expected to visit investors in the UK and the ...

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FPSO shut down will not lead to dumsor- Power Ministry

dumsor

The Deputy Minister of Power, John Jinapor, has told Citi Business News that the current shut down of the FPSO Kwame Nkrumah for routine maintenance, will not lead to a load shedding exercise. His assertion follows that of the Ghana Grid Company (GRIDCo) which earlier  assured the public that measures have been put in place to mitigate the impact on power supply ...

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Ghana’s debt hits $25.6 billion

debt

Data from the Bank of Ghana (BoG) reveal as at December 2015, Ghana’s total debt stood at $25.6 billion. According to the Bank of Ghana’s summary of macroeconomic and financial data released on March, 18. 2016 as at December 2015 Ghana’s public debt was 25.6 billion dollars and in cedi terms 97.2 billion cedis. Per the BoG’s data Ghana’s debt ...

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Ghana faces further hikes in cost of public debt

debt

Despite ongoing efforts to lower its public debt servicing costs through the lowering of yields on the debt securities if offers, government is having to face up to rising interest costs on its debt. The most recent five year debt issue, which the Ministry of Finance announced last week carried a coupon interest rate of 24.75%. Although this is within ...

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