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    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

    Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt

    Assin State College receives Dano “Inner Strength” Award

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

    Registrar of Companies increases fee for business registration

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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Drivers threaten strike over motor insurance increment

bycitibusinessnews
June 9, 2015
in Banking And Finance, Business, Top Stories
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Some commercial drivers in Accra are threatening to go on strike if the Ghana Insurers Association goes ahead to implement its new rates for third party motor insurance policy.

[contextly_sidebar id=”FQgSN84k89ho3vcUrDBgCtvITbdFqgE9″]They argue insurance companies do not readily pay claims in the event of accidents, a situation they say has a negative impact on their work.

The Ghana Insurers Association yesterday June 8th, 2015 announced it had reviewed upwards the price for third party insurance tariffs effective today June 9th, 2015.

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Under the new policy, car owners can buy insurance on short term basis at a cost of 1cedi 30 pesewas daily, monthly or annually.

The new development is the first time in five years premiums for motor insurance premium have been reviewed and increased.

For a breakdown of the new policy, annual premium for third party insurance for example now costs, GH¢471 for private cars, which prior to the review was at GH¢70; while that of taxis have been priced at GH¢576 per annum.

Commercial buses also known as trotro’s will also pay GHC 586 and motorcycles will also pay GH 256 for insurance annually.

Head of Technical in charge of Non-life at the Ghana Insurers Association (GIA) Winfred Doziah told Citi Business News the move is to ensure that vehicle owners with third party insurance are well compensated in the event of an accident.

But the commercial drivers disagree.

They tell Citi business News the review must be put on hold or they will lay down their tools.

–
By: Lorrencia Nkrumah/citifmonline.com/Ghana

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