Author: Anita Arthur Kissi-Mireku
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Insurance companies want exemption from debt exchange programme
The Ghana Insurers Association has called for the exemption of insurance companies from the domestic debt exchange program. According to the association, 40 percent of its total assets for the third quarter of this year were invested in Government of Ghana Securities. The association therefore warned that should government go ahead and include insurance companies…
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Major mining companies were consulted on gold for oil policy
Governor of the Bank of Ghana, Dr. Ernest Addison has refuted claims that the major gold mining companies in the country were not consulted on its gold for oil policy. Vice President, Dr. Mahamudu Bawumia recently disclosed government’s intention to use gold to make purchases for oil on the commodity market. This move by government…
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BoG assures of solvency in banking sector
Governor of the Bank of Ghana, Dr. Ernest Addison has assured that adequate measures have been put in place to ensure the solvency of banks in the country even as Ghana is in the final stages of its IMF negotiations. Ghana began formal negotiations for the extended credit facility with the IMF in September. The…
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Give timelines on no forex directive- GUTA to government
The Ghana Union of Traders Association (GUTA) is asking government to come clear on the timelines in which the directive given for the Bank of Ghana to seize forex support for some food items imported into the country will be implemented. According to him goods which were procured but are yet to arrive in the…
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No book keeping, no access to finance, Consolidated Bank to MSMEs
Micro Small and Medium Enterprises (MSMEs) will continue to face challenges in accessing finance from financial institutions over their inability to produce accurate records of their businesses. This is according to General Manager, Business Banking at Consolidated Bank Ghana, Michael Kwansa. Access to finance remains a key constraint to MSME growth and development in many…
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Effective 2023, vehicles without right certification will not qualify for importation- GSA
The Ghana Standards Authority has informed importers of used vehicles that beginning 1st January 2023 all, used vehicles imported into Ghana shall be accompanied by a valid Certificate of Conformance (CoC) from an approved body. The certificate must demonstrate conformance of the used vehicle to requirements of the Ghana Standard for used vehicles (GS 4510:2022…
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LPG use to decline by about 25 % by the end of the year
The LPG Marketers Association is predicting a 25% decline in consumption of LPG by the close of 2022. This, according to the Association, is as a result of taxes on the product which has culminated in price hikes recorded in months past. Vice President for the LPG Marketers Association Gabriel Kumi told Citi Business News…
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Upstream petroleum chamber calls for harnessing of local gas resources
The Chief Executive Officer of the Ghana upstream petroleum chamber, David Ampofo has called on various players in the country’s energy sector to focus attention and more resources on local gas production. This, he says, is necessary to strengthen the sector and also cut down on the amount of foreign reserve that is used to…
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Ghana Standards Authority to help cut down on importation
Ghana will in the short term review the standards and requirements used for the importation of goods into the country. This according to the Ghana Standards Authority is crucial to cut down on the number of goods imported into the country even as the country takes steps to scale up manufacturing and production. Ghana’s imports…
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Import licenses will increase cost of trade unnecessarily – Asaki Awingobit
The Importers and Exporters Association of Ghana says the introduction of an import license policy will only add to the bureaucracy and cost of doing business in Ghana. Their concern follows calls by the Private Enterprise Federation (PEF) that such a policy is needed to regulate the imports that come into the country. According to…