Author: Ellen Dapaah
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NIB MD laments cost of borrowing for private sector
The issue of private-sector lending continues to remain a problem as stakeholders in the banking sector have expressed worry about the high cost of borrowing for the actors in the private sector. Managing Director of the National Investment Bank, Samuel Sarpong, in interaction with Citi Business News, attributed the crowding out of private-sector lending to…
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Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN
Stakeholders in the trade and industry sector are exploring ways by which the business community can connect to bigger players across the continent to expand through the African Continental Free Trade Area (AfCFTA) agreement. For this reason, the Africa Prosperity Network (APN) has introduced the Kwahu Summit to allow for African heads of state and…
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African Finance Ministers tasked to allocate more resources into education sector
Finance Minister, Ken Ofori-Atta has admonished Finance ministers in other African countries to focus on allocating more resources or investments into their countries’ education sectors. This investment in education, according to him, will in the long term result in an increase in their countries’ GDP per capita. Mr. Ofori-Atta, was speaking during a regional ministerial…
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Dr. Bawumia unveils Ghana’s first Tier IV data centre
Vice President, Dr. Mahamudu Bawumia has expressed satisfaction in the high level of interest being shown by foreign investors in improving Ghana’s digital infrastructure. This follows the opening of Ghana’s first Tier IV Data Center in Accra on Thursday. Known as the Onix data centre, the US$48 million investment adds to Ghana’s existing data centre,…
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Intravenous Infusions PLC records 10% growth in profit in 2021
Local pharmaceutical giant, Intravenous Infusions PLC, has recorded an increase in revenue of 9.69 percent for the year ended December 31st, 2021. This comes as a much better performance compared to a reduction of 10.47 percent recorded in 2020. This growth in revenue, according to the company, resulted in profit before tax of GH¢1.43 million…
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Economy grows by 3.3% in Q1 of 2022; slowest since Q3 of 2020
Ghana’s economy has grown by 3.3 percent in the first quarter of 2022. This is the slowest rate of growth recorded since the third quarter of 2020, when the economy recorded a -3.3 percent growth. Non-oil Gross Domestic product, which looks at economic growth without oil, also expanded by 3.7 percent. When seasonally adjusted, Ghana’s…
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Producer Price Inflation rises again to hit 33.5% in May 2022
Producer price inflation, the average price of goods and services received by domestic producers for their production activities, for the month of May, has risen to 33.5 percent. This rate represents a 2.1 percentage point increase in producer inflation relative to the 31.4 percent recorded in April 2022, and a 21.7 percentage point increase relative…
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Ghana Card: NIA pledges to clear backlog before banking transactions deadline
In less than two weeks, banks and financial institutions will require just the Ghana card as the sole identification document to allow for financial transactions to be made. But until now, over 300,000 Ghanaians are unable to access their Ghana cards from the National Identification Authority (NIA) months and years after applying for them. The…
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Ghana tops list of countries with cheapest cost of electricity in West Africa
Ghana has topped the list of countries with the cheapest cost of electricity for household use in West Africa. According to data from GLOBALPETROLPRICES.COM, a website that tracks the retail prices of motor fuel, electricity, and natural gas in over 150 countries, Ghana stood in 9th place as the country with the cheapest cost of…
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MTN laments inability of customers to access Ghana cards for SIM re-registration
It’s just about five weeks more to end the SIM card re-registration exercise and it appears the inability of customers to access their National Identification cards is hampering the process. Chief Executive Officer of MTN Ghana, Selorm Adadevoh made this observation during a virtual stakeholder and media forum today. As part of efforts to help…