Author: Ellen Dapaah
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Failure of foreign countries to pay LIDs on cocoa beans disheartening – COCOBOD CEO
Ghana and Ivory Coast’s move to combat farmer poverty with a living income premium for their cocoa sales is being undermined by chocolate makers scaling down purchases and negotiating discounts on other parts of the prices. This, the Ghana Cocoa Board, says is disheartening and must be checked with all urgency. The premium is being…
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Help COCOBOD develop a robust risk management system – IAA Boss
A five-member Audit Committee has been inaugurated by the Director-General of the Internal Audit Agency (IAA), Dr. Eric Oduro Osae at the Ghana Cocoa Board (COCOBOD). Dr. Oduro Osae charged the committee should help the organisation to develop a robust risk management policy to anticipate risks, ensure constant awareness of the organisation’s risk exposures and…
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S&L sub-sector contributes 35.1% of total assets for Q1 of 2022 – BoG
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi, has disclosed that the savings and loans sub-sector contributed 35.1 percent of the total assets of the specialized deposit-taking institutions sector in the first quarter of 2022. While commending the savings and loans sector for their significant role in the economy at the 12th…
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Non-resident Ghanaians can use their passports for banking transactions – BOG
The Bank of Ghana has issued a directive to banks in the country to allow non-resident Ghanaians who have not yet registered for or do not have access to their National ID cards to use their passports for banking transactions until they obtain their cards. This directive comes a few days after banks started demanding…
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Volume of registered internet banking customers drop by 4.8% in 2021 – BoG
Data from the Bank of Ghana has revealed that the number of registered internet banking customers declined by 4.8 percent to 970,435 in 2021, compared to 2020. According to the Central bank’s 2021 Payment Systems Oversight Annual Report, registered mobile banking customers also decreased to 4.06 million in 2021, from 4.77 million in 2020. Despite…
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‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah
Minister for information Kojo Oppong Nkurmah has ruled out suggestions that the electronic transfer levy (e-levy) has failed and should be scrapped following the request for help from the International Monetary Fund (IMF). According to him, although government had earlier insisted that seeking a bailout from the International Monetary Fund was not an option, it…
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Plans are underway to complete fertilizer, railway projects in Ghana – Afreximbank
As part of efforts to boost Ghana’s participation in intra-African trade, the African Export-Import Bank, also called the Afreximbank, has pledged its commitment to supporting the building of some key facilities in Ghana. This includes the development of a major fertilizer facility to make Ghana a net exporter of fertilizer and the construction of a…
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GHASALC laments drop on number of digital transactions following e-levy
The Ghana Association of Savings and Loans Companies (GHASALC) has lamented the impact of the electronic transfer levy (e-levy) on its operations. Board Chairman of GHASALC, Kwame Owusu-Boateng, tells Citi Business News despite the drop in transactions since the implementation of the e-levy, his outfit is doing its best to educate its customers to continue…
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AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade
The African Continental Free Trade Area Secretariat (AfCFTA) has called for the accelerated development of key infrastructure in areas like transportation across the continent, to fast-track trade under the AfCFTA. The remark was made at the Ghana Trade Roadshow held here in Accra on Wednesday. Despite decades of common market agreements within different economic blocs…
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Enterprise Group PLC records 37% rise in revenue in 2021
Leading Insurance Company, Enterprise Group PLC, has recorded an increase in revenue of 37 percent for the year ended 2021, amounting to GHS1.16 billion. This growth in revenue, according to the company, resulted in profit after tax of GH¢122 million for the year under review. This however represents a decrease in profit after tax compared…