Author: Bobbie Osei
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COVID-19: SMEs in tourism sector to benefit from $9m Grant Scheme
The Ministry of Tourism, Arts and Culture, has launched a $ 9 million dollar Grant Scheme for Small and Medium Sized Enterprises in the tourism sector. The Scheme, earmarked for interventions to strengthen the industry severely hit by the COVID-19 pandemic, is under the Ghana Tourism Development Project, a world bank funded project. According to…
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#CitiBusinessFestival: African Businesses urged to form synergies to take advantage of AfCFTA
Participants of the final edition of the Virtual Business Forum under this year’s Citi Business Festival have called for a coordinated effort aimed at bringing local businesses together to produce on a large scale, to take advantage of trade opportunities from the COVID-19 pandemic and the impending implementation of the African Continental Free Trade Area…
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GUTA cautions Nigerian traders against re-opening locked up shops
The Deputy Public Relations Officer of the Ghana Union of Traders Association (GUTA), Joseph Osei Yaw Agyemang, has threatened that the Association will cause the arrest of any Nigerian trader who reopens any of the locked up shops at the Tip Toe lane in Accra. The warning comes after some three hundred of the six…
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The current environment doesn’t support additional borrowing – Economist warns gov’t
Economist, Dr. Lord Mensah, has advised government to be measured in its borrowing on both the domestic and international markets. According to him, the current environment does not support borrowing. Government recently accepted all bids tendered to raise GHS751.33 million at a coupon rate of 18.85 percent for a 3-year bond, which settled on 1st…
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Trade Ministry calls for dialogue as car dealers threaten to demonstrate in 2-weeks
The Ministry of Trade and Industry has bemoaned threats of demonstration by the Automobile Dealers Union of Ghana (ADUG) if government does not agree to amend aspects of the Customs (Amendment) Act, 2020, which bans the importation of second hand cars of more than ten years old, as well as salvage cars, locally referred to…
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Car dealers to demonstrate in 2-weeks over ban on some 2nd hand cars
The Automobile Dealers Union of Ghana (ADUG) has reiterated its threat to embark on a demonstration against government if it does not agree to amend aspects of the Customs (Amendment) Act, 2020, which bans the importation of second hand cars of more than ten years old, and salvage cars, locally referred to as ‘accident cars’.…
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Validation still ongoing to pay Fund Management customers – SEC
The Securities and Exchange Commission (SEC) says it hopes to, in the near future, begin payment of outstanding validated claims of clients of some of the 53 fund management companies who got their licenses revoked in November 2019. The 53 fund management companies that have lost their licenses were said to be managing a customer…
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Breaking MTN’s dominance: Industry watchers caution Gov’t to tread cautiously
Some industry watchers of Ghana’s telecommunication space have asked government to tread cautiously with its plans to implement some policies to limit any market imbalance in that sector. The Ministry of Communications says its available data indicates that MTN continues to be the dominant player in the telecoms space, having more than double and in…
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AGI urges companies to provide relevant identification for workers during lockdown
The Association of Ghana Industries (AGI), has advised companies that are yet to provide proper identification for their employees within the two-week partial lockdown to do so without delay. The AGI says this is necessary to enable essential service providers move about without impediment. The partial lockdown on Accra, Tema, Kasoa and Kumasi enters day…
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Minimum capital requirement deadline for payment service providers extended by 6-months
The Bank of Ghana has officially extended by 6 months, the deadline for meeting the new minimum capital requirements by all existing Payment Service Providers, Electronic Money Issuers, banks and specialized deposit-taking institutions, from June 30, 2020 to December 31, 2020. To operationalize the new Payment Systems and Services Act, 2019 (Act 987), which sought…