Author: citibusinessnews
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Ghana to produce fine flavour cocoa soon with new lab and quality training centre
Ghana will soon become a major producer of fine flavour cocoa beans according to Cocobod and management of the Cocoa Research Institute of Ghana, CRIG. When this happens, Ghana will join Madagascar as the only country in sub-Saharan Africa which produces and exports both fine flavour cocoa beans and the bulk or ordinary cocoa beans.…
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Northern Region: Yam farmers at Lanja incur losses over lack of storage facilities
The absence of a facility to store tubers of yams at Lanja, a farming community in the Nanumba North Municipality of the Northern Region, is leading to huge losses for farmers and traders. The traders, who have identified January to May as the period that the yams get rotten due to lack of a storage…
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COCOBOD to launch motorized pruner to improve cocoa yields
Management of COCOBOD says it will soon launch a motorized pruner and cocoa irrigation project, to improve quality yields and help farmers make more money without expanding their farms. The Deputy CEO of COCOBOD in charge of Agronomy and Quality Control, Dr. Emmanuel Agyemang Dwomoh, says efforts are underway to engage and attract the attention…
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OMCs reject calls for reduction in fuel cost to reflect global crude prices
The Association of Oil Marketing Companies is urging restraint among some industry watchers and analysts who are demanding a reduction in prices to reflect the downward trends in global crude oil prices and the relative stability of the cedi. According to the CEO of the Association, Kwaku Agyeman Duah, the reduction can only be felt…
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BoG to clamp down on entities pricing and accepting payments in dollars
The Bank of Ghana says it will not hesitate to penalize persons who flout the Foreign Exchange Act by pricing and taking payments for goods and services in any currency apart from the Ghana cedi. The BoG’s comment follows viral images of a shop attendant at Palace Hypermarket on the Spintex Road in Accra accepting dollars…
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Confidence in savings and loans sector will be restored- Bonds Savings & Loans CEO
The Chief Executive Officer of Bond Savings and Loans Plc, George Ofosuhene, is hopeful confidence in the sector will improve significantly with the deliberate steps taken by regulators following the financial sector clean up. “I think that there are processes and programs that are in place that are being churned out and very soon we…
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1D1F must be carefully implemented to produce better results – IEA
A senior economist with the Institute for Economic Affairs (IEA), Dr. John K. Kwakye, says government’s flagship industrialization policy, one district-one factory, must be re-engineered if it is to yield the right results. Addressing the press in Accra on February 25 as part of IEA’s assessment of the President’s state of the nation address, Dr.…
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GSA must be empowered to slap fines on law breakers – Prof. Dodoo
The Ghana Standards Authority, GSA, is asking for more powers to allow it impose fines on institutions that break the country’s standard laws. This, the Authority says will not only empower it to discharge its duties, but will also give it the financial strength if it is allowed to keep a fraction of the fines.…
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Receiver to pay all customers of defunct Microfinance, S&Ls firms by March ending
The receiver of the collapsed microfinance companies, savings and loans, and finance houses, has assured that all affected depositors will receive their locked up investments by end of March this year, after payment processes started on Monday, February 24, 2020. The deadline follows a promise by President Akufo-Addo during the State of the Nation Address…
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Ramani Distribution celebrates 20 years of Lele brand in Ghana
Ramani Distribution Company Limited, a Commodities Trading Company, has celebrated 20 years of its Lele brand with an announcement to work towards producing rice locally. The group also outdoored a brand new logo, which coincided with the official opening of its new ultra-modern office complex known as Lele Towers in Tema. Speaking at the event,…