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Africa needs $621bn to meet UN Sustainable Development Goals


The Global Infrastructure Hub, a G20 initiative, has today published two reports that reveal an urgent need for infrastructure investment in 10 Compact with Africa countries, and highlight the reforms required to encourage greater investment. The first of these reports, Global Infrastructure Outlook: Infrastructure Investment Need in the Compact with Africa Countries, reveals that, unless US$621 billion is invested in ...

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Ban on tilapia import to boost local production

tilipia pix

Fish farmers in Ghana are anticipating better prospects for the local fishing industry following the ban on the importation of all ornamental fishes and tilapia species. The ban, which took effect on July 1, 2018 is to control and prevent the spread of any virus. Players in the local fishing industry have in the past lamented the effects the import ...

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Wapic Insurance Champions Capacity Building in the Insurance Industry


Wapic Insurance (Ghana) Limited has hosted a 1-Day Training event on Marine Insurance for all brokers in the Greater Accra region. This forms part of moves to unfold initiatives to transform and illuminate the insurance landscape in Sub-Saharan Africa. The training which brought together key Insurance Brokers in the industry, was held in partnership with the Ghana Insurance College to ...

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About 800 permanent dock workers turned into casual staff


About 800 dock workers who were engaged permanently by stevedore companies at both the Tema and Takoradi ports, have been turned into casual workers. This is as a result of the increased number of stevedore companies operating at the ports. According to the Maritime and Dockworkers Union, the stevedore companies which were seven as at 2016, have been increased to ...

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Tax defaulters to be prosecuted after 31st August


Tax Payers who have defaulted in paying their taxes and are appealing for amnesty, have two months to fulfill their tax obligations or face a jail term. This is because the tax Amnesty issued by the Ghana Revenue Authority (GRA) to give both tax payers and potential tax payers the opportunity to fulfill their tax obligation ends on August 31. ...

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Bearish stock market performance to end after MTN IPO

GHana stock

Stock market analysts are projecting that the current distortions on the local bourse may continue until such a time that MTN completes its Initial Public Offering (IPO). The stock market’s performance has seen a dip for the past couple of weeks which is affecting trading activities. Some have blamed the development on the massive nature of the MTN IPO. The ...

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Air Namibia’s comeback to boost trade & tourism


Air Namibia is aiming at improving trade relations between ECOWAS and other regional blocs within Africa with its resumption of operations in Ghana. The airline welcomed its inaugural flight for the new operations last Friday with major commitments to boost air travel. Air Namibia is coming back to Ghana after closing down its operations in 2014. The airline had been ...

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BoG enforces banks’ Capital Requirement Directive

Governor of BoG, Dr. Ernest Addison

The Bank of Ghana has started the implementation of its new Capital Requirement Directive for banks, effective July 1, 2018. The Capital Requirement Directive sets the requirement by which banks will calculate their level of capital as spelt out under the Banks and Specialised Deposit-taking Institutions Act. The Bank of Ghana says its implementation of the new Capital Requirement Directive ...

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Managers of Student Loan Fund to drag defaulters to court


Beneficiaries of the Student Loan Trust Fund (SLTF) who have defaulted in their loan payment will soon face legal action. This is according to managers of the fund. The managers had earlier stated that the increase in the fund amount from 1,500 cedis to 3,00 cedis has led to an increase in demand for loans which has put a strain ...

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COCOBOD keeps cocoa price unchanged in light crop season

Cocoa farmers in Ghana

COCOBOD has opened its cocoa light crop season purchases from farmers and has kept the price unchanged at 7,600 cedis ($1,5 86) per tonne, a report by Reuters Ghana has said. Ghana runs a two-cycle cocoa season consisting of the main crop which is mainly exported and the light crop harvest, discounted for local grinders. “The producer price to be ...

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