Author: citibusinessnews
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Q3 2022: UBA’s Gross Earnings hit N608bn, Reports 12.3% Growth in Profit
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced remarkable performance in its unaudited financial results for the third quarter that ended September 30, 2022, recording impressive growth across all its major indices, replicating the commendable performance it achieved in the first two quarters of the current fiscal year. Specifically, the bank’s Gross…
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$1.13bn Cocoa Syndicated Loan: First tranche expected to hit BoG account today
The first tranche of the $1.13 billion cocoa syndicated loan is expected to hit the account of the Bank of Ghana today, October 26, 2022. Sources indicate that about $790 million is expected to come in from the consortium of banks. The $790m forex to be received by the BoG, is expected to bolster the…
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Cabinet, EMT, banks and forex bureaus to meet over depreciating cedi – Oppong Nkrumah
Government has announced plans it says will help end the continuous depreciation of the Ghana cedi. Information Minister, Kojo Oppong Nkrumah says the Governor of the Central Bank, Dr. Ernest Addison will today, October 25, 2022, meet all CEOs of commercial banks and forex bureaus to address the issue. The cedi is currently selling at…
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Game Shopping Center at Accra Mall to close down by December
Multinational retail shop, Game will close down its Accra Mall branch by December this year. This is because Massmart Holdings, owners of the enterprise, are in talks to shut down operations in some African countries. This development follows an earlier announcement by Mass mart to close eight unviable shops in Africa. According to Citi News…
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VISAL & iRisk Reinsurance Brokers organize a successful workshop for the Insurance market.
Visal Reinsurance Brokers Limited (Visal Re) in partnership with iRisk Reinsurance Brokers Limited (iRisk Re) have organized an educational workshop on treaty reinsurance accounting for the insurance market in Ghana. The three-day non-residential workshop held from Tuesday, October 11 to Thursday, October 13 at the Holiday Inn Hotel, Airport-Accra was aimed at building the technical…
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Staff-level agreement to be reached on IMF negotiations by end of year – Finance Ministry
The Ministry of Finance says government and the International Monetary Fund (IMF) have reached a clear path towards the final details of a programme with the goal of reaching a Staff-Level Agreement by the end of the year. This follows meetings between the Government and the IMF advancing negotiations towards a Fund-supported Programme in Washington…
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Gov’t to maintain forex rate at ports to aid traders – Deputy Trade Minister
The government will maintain a fixed exchange rate at the ports for the next three months to cushion traders who import goods into Ghana, Deputy Trade Minister, Michael Okyere Baafi, has said. The dollar rate will be kept at the same level as the Bank of Ghana’s interbank rate. In a response to the protest…
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![Which investment is best for you in the Ghanaian Financial Markets? [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/10/FB.jpg)
Which investment is best for you in the Ghanaian Financial Markets? [ARTICLE]
Investments are generally motivated by the desire for profit; each investor aims to use his money profitably to generate significant returns. As a result, investors may decide to put their money into one or more of the available investment classes which include bonds, stocks, cash equivalents, real estate, various commodities, etc. Bonds, stocks, and cash…
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12th pre-harvest to increase business among value chain players
Agrihouse Foundation is set to hold the 12th edition of annual Pre-harvest Agribusiness Conference and Exhibitions in the Northern region, on the theme, “Connecting the Unconnected: the Farmer-the- Buyer and the Market.” The three (3) day most important Farmer to Buyer and Agribusiness market linkage event is scheduled to take place from Tuesday, October 25…
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First Agricultural Cold Chain summit to be held in Ghana
FreezeLink will convene the first ever agricultural cold chain conference in Ghana, under the WE4F (Water and Energy for Food) initiative, on TUESDAY, 25th October, 2022 at the Shippers’ House in Accra. Dubbed the Agri Cold Chain Summit (ACCS) 2022, the purpose of the event is to enable fruit and vegetable farmers in Ghana to…