Author: Bobbie Osei
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SEC refers CHY Century Heng Yue Group Limited to EOCO
The Deputy Director-General Legal, of the Securities and Exchange Commission, Mrs. Deborah Mawuse Agyemfrah has told Citi Business News that the case involving CHY Century Heng Yue Group Limited and SAIRUI E-Commerce Ghana Limited, has been referred to the Economic and Organised Crime Office (EOCO). In a press release dated January 8, 2021, the SEC…
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Key reforms needed to exceed 1.4% World Bank growth forecast – Economist
An economist at the University of Ghana Business School, Dr. Patrick Asuming says the current socio-economic climate which is heavily influenced by the COVID-19 pandemic, provides government an opportunity to introduce and implement key reforms that will boost domestic revenue as well as economic growth. Per the World Bank’s 2021 Global Economic Prospects report, even though growth…
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Don’t invest in Chy Century Heng Yue, Sairui E-Commerce – SEC cautions
The Securities and Exchange Commission, SEC, the statutory body mandated to promote the orderly growth and development of the securities market in Ghana is cautioning the general public against dealing with Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. A statement from the SEC noted that Chy Century Heng Yue Group Limited…
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Austin Gamey calls for strategic investment of SSNIT funds for better yields
A labour consultant, Austin Gamey has called for better investment of funds contributed to the Social Security and National Insurance Trust (SSNIT), in order to ensure better yields and better payouts to Ghanaian workers. The comment follows an announcement by SSNIT that monthly pensions for 2021 have been adjusted upwards by 10 percent. According to…
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BoG Governor demands measures to help businesses succeed in AfCFTA era
Governor of the Bank of Ghana Dr. Ernest Addison says the commencement of operations of the Africa Continental Free Trade Area (AfCFTA) requires the building of a competitive Ghanaian economy. According to the Governor, the effects of a strong Ghanaian economy will ensure that local businesses win against their rivals from other African countries. Responding…
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Ghana Stock Exchange returns -13.98 % in 2020, lowest in over half a decade
After returning losses to investors for the first three quarters of 2020, the Ghana Stock Exchange returned a gain of 5.2 % for equity investors in the fourth quarter, a development which should continue in 2021 and lead to the first positive return in a year for the local bourse since 2017. That’s according to…
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Akufo-Addo government charged to reduce cost of power in 2nd term
The Ghana National Chamber of Commerce and Industry has urged President Akufo-Addo to couple the extension of electricity to communities without power, with a significant reduction in the cost of power itself, across the country. According to data from the Energy Ministry, access to Electricity in Ghana as at the end of 2020 was around…
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Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana
Almost a week after the commencement of the African Continental Free Trade Area (AfCFTA), businesses in Ghana, both small and big, have been charged to be proactive in taking steps to participate and benefit fully from the continent-wide agreement. Trading under the agreement was supposed to have commenced in July 2020 but had to be…
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BoG Governor confident of cedi’s stability in 2021 after 3.8% depreciation in 2020
Governor of the Bank of Ghana, Dr. Ernest Addison is confident the reserves it has amassed so far, coupled with other measures to be implemented by the government in 2021 should see the local currency remaining stable throughout this year. The cedi which depreciated by 3.8 percent against the dollar in 2020, outperformed many of…
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ECG blames issues with its prepaid system on faulty meters
The Electricity Company of Ghana’s (ECG) has blamed the current challenges it is experiencing with servicing its prepaid customers on technical faults with some of its meters as well as poor communication between some of its smart meters and servers. In a statement released by the power distribution company, ECG disclosed that some meters which…