Author: Ellen Dapaah
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Kofi Adomakoh appointed as MD for GCB
The Board of GCB Bank Limited has announced the appointment of John Kofi Adomakoh as the new Managing Director (MD) of the Bank effective November 9, 2020. Mr. Adomakoh, an astute banker, replaces Anselm Ray Sowah, who ended his tenure of office as the MD of GCB Bank in September this year after more than…
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Stakeholders in banking sector intensify efforts to reduce money laundering
Stakeholders in Ghana’s banking sector are advocating for more support from various sectors of the economy to tackle money laundering in Ghana. This menace, which has resulted in Ghana’s current position on the European Union’s grey list, can limit many transactions with other countries if not checked. The Financial Action Task Force (FATF), the initiative…
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NBSSI converted to Agency after passage of Ghana Enterprises Agency Bill
Parliament has approved the Ghana Enterprises Agency Bill under a certificate of urgency. The House, last week, determined that the Bill be passed under a certificate of urgency due to its importance. The Ghana Enterprises Agency Bill will convert the National Board for Scale for Small Industries (NBSSI) into an agency to oversee, coordinate, promote…
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Telecoms analyst questions government’s rationale for takeover of AirtelTigo
A telecoms expert, Fouad Chalabi has questioned the government’s move to take over the shares of AirtelTigo. Government confirmed the take over last week stating that the deal has reached advanced stages. The proposed deal would result in the government of Ghana acquiring 100 percent shares of AirtelTigo, along with all its customers, assets and…
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GIRSAL launches Lending Knowledge Portal to improve access to finance for agribusinesses
The Ghana Incentive-Based Risk-Sharing System for Agricultural Lending Project (GIRSAL) has intensified efforts to make it easy for agribusinesses to gain credit from financial institutions. Lack of access to cheaper credit is seen as a major setback to the growth of agribusiness. It is against this backdrop that GIRSAL, with support from the Alliance for…
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Advanced budget a step in the right direction – Economist
An Economist, Dr. Adu Owusu Sarkodie, says the Finance Minister, Ken Ofori-Atta’s plans for the first quarter of 2021 is a step in the right direction. Reacting after the budget presentation on Wednesday, October 28th, 2020, he said, “In a nutshell, he [Ofori-Atta] has indicated exactly what my expectations were. Clearly, whatever has been presented…
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Banking sector clean-up was not managed well – Togbe Afede XIV
Ghanaian Entrepreneur and President of the National House of Chiefs, Togbe Afede XIV, says the banking sector clean-up could have been handled better by government. According to him, government could have carried out a better scrutiny to prevent the collapse of the huge number of financial institutions that lost their licenses. Togbe Afede, who once…
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Finance Ministry got 50 Bills passed by Parliament within four years – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta says his outfit was able to produce 50 Bills since 2017 which were all passed into law by Parliament. Ofori-Atta disclosed this when he presented the 2021 Expenditure in Advance of Appropriation statement to Parliament on Wednesday, October 28, 2020. The Expenditure in Advance of Appropriation is a mini-budget…
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Finance Minister to present budget for first quarter of 2021 today
The Minister of Finance, Ken Ofori-Atta, will later today, Wednesday, October 28, 2020, present a budget to Parliament to cater for the first quarter of 2021. The expected presentation, known as Expenditure in Advance of Appropriation, has become a usual characteristic of election years to prevent transitional challenges in the smooth running of government for…
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We don’t expect tax hikes or new taxes in 2021 Q1 budget – GNCCI
Ahead of the Finance Minister, Ken Ofori-Atta’s presentation of the budget for the first quarter of 2021 on Wednesday, October 28, different groups of the Ghanaian society have been speaking about their expectations. The presentation, known as the Expenditure in Advance of Appropriation, is normally read in elections years to ensure the smooth running of…