Author: Bobbie Osei
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Stop withdrawing huge cash, use digital payments to reduce robbery attacks – GhIPSS
Mr. Archie Hesse, the Chief Executive of the Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the Bank of Ghana, is urging businesses and individuals to desist from withdrawing huge sums of money from the bank and rather liaise with their financial institutions or mobile money operators to raise their thresholds to allow…
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Reversal of COVID related interventions by BoG could slowdown inflation – Economist
Economist with Databank Courage Martey says a gradual withdrawal of the COVID-19 related monetary interventions will help to limit the risk of additional pressure from the demand side of the economy and prevent inflation from becoming persistent. According to him, the raft of measures introduced to contain the impact of the COVID-19 on the Ghanaian…
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November 1st presents earliest opportunity for removal of PSRL – NPA
The National Petroleum Authority (NPA) says the earliest opportunity for the removal of the Price Stabilisation and Recovery Levies (PRSL) in the price build-up of petrol, diesel and Liquefied Petroleum Gas (LPG) would be the 1st of November. The NPA on the 11th of October announced that President Akufo-Addo had approved the removal of the…
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Consider entrepreneurship, public sector payroll full – Ofori-Atta to youth
The Finance Minister Ken Ofori-Atta says government is not looking at employing more public sector workers, as enough resources are already being spent on the over 600,000 persons on government’s payroll. According to the 2021 budget statement, compensation of employees alone as a line item would amount to about GHC 30.3 billion or about 54…
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Scrapping of PSRL stalls as fuel prices rise to GH¢6.80 per litre
The much-anticipated removal of the Price Stabilization and Recovering levy of 16 pesewas in the price build-up of fuel at the pumps is yet to take effect even as the second pricing window commences. This is because Parliament is yet to give the National Petroleum Authority (NPA) the approval needed to scrap the levy. While…
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We’re not running 64th anniversary promo, ignore fraudulent reports – BoG
The Bank of Ghana has cautioned the general public against participating in a fraudulent promotion said to be on the bank’s 64th anniversary. According to a notice from the central bank, it has observed the fake promotion on social media, hence the disclaimer. The bank however says it is not running a 64th-anniversary promotion of…
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Rising inflation may adversely affect purchasing power of consumers – Economist
Economist with Databank Courage Martey says the rising level of inflation if unchecked could impact the purchasing power of Ghanaians. The current year-on-year inflation rate of 10.6% for the month of September is the highest since July 2020 and higher than the government’s end of year target of 8 percent. For four months in a…
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Bankers Association charges merchants to be vigilant to reduce ATM fraud
The Ghana Bankers Association has called for extra vigilance on the part of merchants providing goods and services in order to help reduce ATM or card fraud. The 2020 fraud report from the Central Bank revealed among other things that, ATM or Card fraud recorded a loss value of approximately GH¢ 8.19 million in 2020,…
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UK’s acceptance of Ghana’s vaccine certificates will boost Ghana-UK trade – Analyst
Aviation analyst, Sean Mendis, has described the recent decision by the UK government to recognize vaccine certificates issued in Ghana for people fully vaccinated with AstraZeneca, Pfizer, Moderna and Johnson and Johnson, as a positive development for UK-Ghana trade. The British High Commission in Accra on Thursday, October 7, tweeted the news, saying it was…
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Bullion van attacks: Rural Banks also implementing safe systems for carting money
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says its members are taking the necessary steps to ensure that the movement of money to and from rural and community banks is done safely. Following the bullion van attack at Adedenkpo-Jamestown in June this year, the…