Author: Ellen Dapaah
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![Why Ghana needs a new financial sector regulation architecture [Article]](https://citibusinessnews.com/wp-content/uploads/2020/11/woelinam-dogbe.jpg)
Why Ghana needs a new financial sector regulation architecture [Article]
Ghana’s financial sector is in crisis. A crisis occasioned by the collapse of over 300 financial institutions; and which has affected every division of the financial sector. Universal banks, savings and loans companies, microfinance companies, capital market institutions, and insurance companies have been impacted. While majority of the collapsed institutions were licensed and regulated, a…
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Customers of Blackshield Fund Management Company receive bailout text messages
Some customers of Blackshield Fund Management Company have started receiving text messages from the Securities and Exchange Commission (SEC) for them to get part of their locked up monies paid. SEC explained that the Commission started transmitting the text messages to the customers from Friday, November 20, 2020. The Commission said there were six steps…
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AfCFTA Secretariat rolls out ‘Vision’ initiative backed by Super-App
The Africa Continental Free Trade Area (AfCFTA) Secretariat has launched a new initiative known as the AfCFTA Vision which is purposed to bring together financial institutions to share knowledge on how to implement the trade agreement in 2021. The initiative, which is in partnership with the Sankoree Institute, an affiliate of AfroChampions, comes barely two…
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Telecoms sector paid over GH¢3.2 billion in taxes in 2019 – Report
Findings from a Total Tax Contribution (TTC) survey by the Ghana Chamber of Telecommunications has brought to light the significant contribution of the telecommunication sector towards Ghana’s socioeconomic development. According to the data, the sector’s total taxes and payments to government amounted to over GH¢3.2 billion in 2019. This figure represents approximately 9.5 percent of…
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Rural banks to re-engage BoG on directive to suspend dividend payment to shareholders
President of the Association of Rural Banks (ARBs), Daniel Ohene Kwaku Owusu, has said his outfit will re-engage the Central Bank on its directive to banks and other Specialized Deposit-Taking Institutions (SDIs) to suspend the payment of dividends to their shareholders. He indicated that though the Bank of Ghana’s directive was with good intentions, the…
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Value of MoMo transactions drops after five months of consistent increase
The total value of Mobile Money transactions has fallen for the first time after five months of continuous increase. The surge began in May, as it shot up from GHS32.8 billion in April to GHS41.5 billion, representing a whopping 26.5 percent increase. But after several months, it has dropped from GHS58.8 billion in September to…
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COVID-19 impact on Ghana’s movie industry: Drive-in theatres becoming the new trend
The COVID-19 pandemic has distracted the global film industry, halting film production and closing cinemas. Global box office revenues totalled US$42 billion last year, contributing almost one-third of the estimated US$136 billion in the value of worldwide movie production and distribution. According to PwC’s entertainment and media outlook: 2018 – 2022, Ghana’s Entertainment and Media…
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Auto Plaza CEO hails government’s efforts in improving automobile industry
The Chief Executive Officer and Founder of Auto Plaza Limited, Jihad Hijazi has commended the government’s efforts in building the automobile industry. According to him, the government has introduced policies that the sector players seek to benefit from, whilst providing employment for a huge number of Ghanaians. This forms part of efforts in achieving the…
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Nissan appoints Japan Motors as vehicle assembly partner in Ghana
Nissan has appointed longtime partner Japan Motors Trading Co. as its local partner in an all-new vehicle assembly facility in Accra, Ghana. The appointment is a result of the 2018 Memorandum of Understanding between Nissan and the government of Ghana to lay the foundation for a sustainable automotive manufacturing industry in the country. The first…
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Japan Motors launches Nissan assembling plant in Ghana
As part of efforts to develop Ghana’s automotive industry to serve both local and the African market, Japan Motors has set up a Nissan assembling plant in the country. According to stakeholders in the industry, the plant will promote skills development and job creation in Ghana. The Managing Director of Japan Motors, Salem Kalmoni, at…