Author: citibusinessnews
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Restructure Ghana’s finances to wean it off IMF – Pianim
Renowned economist, Kwame Pianim is advocating for the country to restructure its finances and organizations to enable it to develop steadily. He believes this will enable the country to wean itself from dependence on institutions such as the International Monetary Fund (IMF). Pianim made the comment while highlighting the importance of investing in peace in…
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Ghana is the best destination for investment in West Africa – Bawumia
The Vice President, Dr. Mahamudu Bawumia, has stated that despite the existing economic challenges, Ghana remains the most favourable investment destination in the West African Sub-region. In his opinion, the $3 billion support received from the International Monetary Fund (IMF) will contribute to the stabilization of the Ghanaian economy. Dr. Bawumia expressed confidence that investors…
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Golden nectar: Uncovering Ghana’s blossoming honey industry
Ghana has a long history of beekeeping, dating back to the 16th century. The country is home to a wide variety of bees, including stingless bees, honey bees, and carpenter bees. Honey is a valuable product in Ghana, and it is used for both food and medicinal purposes. The honey industry in Ghana has been…
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IMF mission staff arrive in Ghana today to assess implementation of economic recovery programme
A mission staff from the International Monetary Fund (IMF) will arrive in the country today, Wednesday June 7, 2023, to assess the implementation of Ghana’s Economic Recovery Program. This will be the first-ever visit by the IMF after its Board approved Ghana’s bailout on May 17 as it seeks to examine progress of the agreement.…
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WTO Chief urges African governments to increase trade, agric investment
The Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has called on African countries to create trading opportunities and increase investment in agriculture to address food security in Africa. In a speech read on her behalf at the 8th Africa Agribusiness and Science Week (AASW8) in Durban, Dr Okonjo-Iweala noted that one-fifth of…
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Publish gold-for-oil policy document to improve transparency – Dr. Manteaw
The spokesperson for the Civil Society Organization in the Extractive Industry, Dr. Steve Manteaw, is demanding the immediate publication of the policy document regarding the gold-for-oil policy. Expressing concern over the lack of transparency surrounding the policy, Dr. Manteaw emphasized the need for disclosure of the agreement’s terms and conditions. He made these remarks during…
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Nationalistic approach needed to support local start-ups in Ghana – Zeepay CEO
The Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, says a nationalistic approach is needed to support local start-ups in Ghana. Mr. Takyi-Appiah opined that the various financial institutions in the country should be willing to give loans to local enterprises to boost their businesses, which will also have a positive impact on the Ghanaian economy.…
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Citi Business Festival: We’re ready to support viable businesses – Absa Bank
The Head of Digital and Payments for ABSA Bank Ghana, Horatio Dodoo, has announced that the bank is prepared to offer its support to startups with significant growth potential. Speaking during the Citi Business Festival Forum on Citi TV on Tuesday, Mr Dodoo encouraged startups to take advantage of the bank’s support scheme for Small…
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Ghana needs a comprehensive digital regulatory framework – TechGulf CEO
Franklin Asare, CEO of TechGulf, has highlighted the crucial need for a strong digital regulatory framework in Ghana to strengthen the country’s digital economy. Speaking at the inaugural Citi Business Festival Forum on Citi TV, themed ‘Reimagining the Digital Economy,’ Asare, previously the Country Director for Oracle Corporation, emphasized the importance of implementing regulatory measures…
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IMF proposes acquisition, mergers of banks to mitigate financial sector instability
The International Monetary Fund (IMF) is asking government to consider a possible acquisition and mergers of banks and other non-bank financial instructions as part of moves to mitigate the country’s financial sector shocks. Under its risk assessment matrix, the IMF in its latest country report in Ghana in said these proposals if adopted will among…