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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

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    Bawumia calls for more AfDB support as African economies battle global challenges

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

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

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

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Passage of Real Estate Authority Bill will sanitize the sector- Meqasa CEO

byMichael Ogbodu
November 2, 2020
in Local Economy, Top Stories
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Stakeholders in the housing industry have welcomed the passage of the Real Estate Authority Bill, 2020.

Parliament earlier last week passed the bill which will become law pending the assent of the President.

Kelvin Nyame, is the CEO of Meqasa, an online real estate platform, believes the introduction of the bill will help sanitize the space.

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“Even when you get the license, there are other  measures they’ve put in place  to make sure your operations  are in the open and transparent. For example, we are not allowed to  take cash when you help someone  sell their property  and you’re due commission. They want you to pass it through the bank  so they can have records of that or if it was through an electronic means then they would need records of that because you have to declare  that transaction to the Council, and the Council needs to keep a record of that for at least 5 years.”

“Basically, it’s trying to take away a lot of the ‘goro boys’ (Middle Men), for lack of a better word, who have been creating a bad name for the more professional agents  in the market. It will also allow the government to regulate the space properly. I know we have heard issues about money laundering and all of that. Again, when you operate in secrecy and in the dark, that’s when these things happen. So, this bill is going to shine a lot of light on every single transaction that an agent does. We are happy, and just hope that it is applied properly.”

The law will regulate real estate agency practice, the conduct of real estate practitioners, commercial transactions in real estate including the sale. It also covers the purchase, rental, and leasing of real estate, as well as other real estate transactions.

It will also establish the Real Estate Agency Council to license real estate brokers, issue real estate transfer certificates, and monitor the performance of the brokers.

A memorandum of the bill underscored the need to regulate real estate agency services to rid the industry of fraud, laundering of illegal income, and tax evasion to minimize the effect of these vices on the national economy and the image of the country internationally.

The law would require a real estate broker to submit within three months after the end of each calendar year to the Council, a report covering the real estate transactions undertaken by the real estate broker and the agents of that broker in the previous year.

A person who fails to submit annual reports to the Council or fails to conspicuously display the license issued per the law would be liable to pay to the Council an administrative penalty of 1,000 penalty units.

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African Finance Ministers tasked to allocate more resources into education sector

Unilever Ghana PLC remains upbeat about future growth prospects

Citi Business Festival enters final week; forum on agribusiness comes off today

BoG must enforce regulations on informal forex trading – Prof. Quartey

Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

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