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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Ghana loses $54 billion to galamsey, deforestation – Group

bycitibusinessnews
December 22, 2016
in Government, Local Economy, Top Stories
Illegal mining in Ghana destroys forest and water bodies

Illegal mining in Ghana destroys forest and water bodies

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Ghana is losing over 54 billion dollars annually due to the wrongful use of natural environmental resources.

This is according to the Chairman of the Biometric Offset Business Scheme (BOBS) Dr. Yaw Osei-Owusu.

In his view, unregulated activities such as illegal mining, water pollution, deforestation among others, are causing the country huge economic loses annually.

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The caution also follows earlier warning by organizations such as the Oxford Business Group that Ghana risks losing a substantial part of its agricultural land to illegal mining activities.

In an interview with Citi Business News at the sidelines of the validation meeting on Biodiversity Offset Business Scheme (BOBS), the chairman of the Biometric Offset Business Scheme Dr Osei-Owusu suggested a comprehensive research and a pragmatic solution to the menace will save the environment and economy.

‘’With the illegal mining activities and the way we are developing our economies, we are likely to have increased the rate of devastation of our natural resources; our water bodies have not been spared either’’, Dr Osei Owusu said.

He  further stated that “I think we need to do a comprehensive study to understand why people are doing that and who is giving them the land, what is the cost of that land or what is the cost of alternative use of that land. If we don’t understand the issues very well, we will still be talking about it and nobody will have any effect method of stopping galamsey.”

The Biometric Offset Business Scheme

The Biometric Offset Business Scheme is an agency dedicated to improving, conserving and promoting the country’s environment.

The body enhances engagements which are meant to open up Ghana’s nature based economic sector and attract more private sector investments in the sustainable utilization, management and protection of the country’s natural capital assets.

–

By: Jessica Ayorkor Aryee and Anita Arthur/citibusinessnews.com/Ghana

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