Author: Bobbie Osei
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Akufo-Addo urged to ensure passage of Advertising Council Bill
The Advertisers Association of Ghana (AAG), is asking President Nana Akufo-Addo to intervene in ensuring the passage of the Advertising Council Bill. The Bill if approved will establish the Advertising Council of Ghana, as the official government body charged with the duty of regulating advertising, registering practitioners in the industry and licensing advertising companies. But…
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Profit of banks on GSE up by 13%; but valuation of stocks down by 17%
Despite registering strong profits across board for the first three quarters of 2020, listed banks on the Ghana Stock Exchange continue to see a drop in their valuation. The Ghana Stock Exchange Composite Index (GSE-CI), which is primarily driven by financial and consumer stocks, has experienced losses for the past three years, with the current…
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MTN’S profit rises by 53.1% to GHS1.05 billion from Jan – Sept 2020
MTN Ghana’s profit after tax from January to September 2020 has risen to GHC 1.053 billion. This is 53.1 percent higher when compared to the GH¢688.6 million recorded from January to September 2019. That’s according to the company’s unaudited results for the first three quarters of 2020. The telecoms company attributes the significant improvement in…
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World Bank approves US$250 million for establishment of Development Bank Ghana
The World Bank Board of Executive Directors on Thursday, October 29, 2020, approved US$250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG) also known as the National Development Bank. The move is to help to increase access to long term finance and boost job creation…
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Volume of trade on bond market rises by 34% to 75 billion from Jan – Sept, on the back of equities market uncertainty
Stakeholders within the financial sector are confident investors will continue to turn to the fixed income market, away from the equities market, until a time when the Coronavirus pandemic has been brought under control. The poor performance of many companies on stock markets across the world and the uncertainty surrounding the quality of returns of…
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STC blames 50% drop in revenue on Coronavirus-induced border closure
Managing Director of Intercity STC Coaches Limited, formerly State Transport Company (STC), Nana Akomea has blamed the continuous loss of revenue for the company, on the Coronavirus-induced border closure in Ghana. Ghana’s land borders remain shut, seven months on after they were initially closed on March 22 to curb the spread of the novel coronavirus…
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Gov’t of Ghana to acquire 100 percent shares in AirtelTigo
Stakeholders in Ghana’s telecommunication industry are confident that the acquisition of a 100 percent of the shares of AirtelTigo by the Government of Ghana, will not impact the user experience of the customers of the network. According to them, aside from the transfer of the shares from Bharti Airtel Limited to Ghana’s government, business should…
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Gov’t must cut expenditure in advanced budget for 2021 first quarter – Economist
Ahead of the Finance Minister’s presentation of the Advanced Budget on Wednesday, which will cover government’s spending for the first quarter of 2021, an Economist and Lecturer at the University of Ghana Business School, Dr. Lord Mensah, has urged government to be conservative with its expenditure projections for the first three months of next year.…
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COCOBOD embarks on digitization drive with launch of Cocoa Management System
The Ghana Cocoa Board (COCOBOD), in its attempt to collate and leverage data on cocoa famers across the country for the purposes of transparency and effectiveness, has launched the Cocoa Management System (CMS). The system, which will become operational in the next 12 months, is expected to cost government about $ 10.7 million dollars. The…
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Economist bemoans increasing use of domestic revenue for debt servicing
An economist at the University of Ghana Business School, Dr. Patrick Asuming, has advised government to pay particular attention to the percentage of the country’s revenue used in servicing its rising debt. His comment follows the International Monetary Fund, IMF’s projection that Ghana’s debt to GDP ratio would hit a troubling 76.7 percent by the…