Author: Lawrence Segbefia
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Recapitalization of financial sector a positive signal of economic stability – Moody’s
A new report by international rating agency, Moody’s, says the steps taken by regulatory authorities to recapitalize the financial sector has given a positive signal about Ghana’s economic and financial stability. This, coupled with efforts directed at reducing the country’s power deficit, according to Moody’s, shows effective policy making, improving the confidence level in government.…
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NIC denies increasing motor insurance cost
The National Insurance Commission (NIC) has refuted claims circulating on social Media that it has increased the cost of motor insurance policy by 100 percent as a result of the implementation of the Motor Insurance Database. The National Insurance Commission, NIC, this week announced that it has stopped the issuance and use of the old…
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Honour promise to provide 20 million day-old chicks – Poultry farmers to Agric Ministry
The Poultry Farmers Association is urging government to honour its promise of providing day old chicks for farmers at an affordable cost. The Ministry of Food and Agriculture, last week announced that it will gradually reduce the importation of chicken as it introduces the Broiler Revitalization Project. The project is aimed at providing Ghana’s poultry industry…
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Petroleum retailers threaten to boycott fuel with temperature above 20 degrees
The Ghana Petroleum Retailers Association has joined calls urging the National Petroleum Authority (NPA) to enforce a directive it gave to Bulk Oil Distributors and oil depots to keep the temperature of their petroleum products at 20 degrees Celsius before it is transported. The National Petroleum Authority in a recent directive aimed at reducing losses…
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Cleanup of financial sector responsible for current economic stability–BoG
The Bank of Ghana (BoG) says the current financial stability being experienced in the country is as a result of the prudent way it undertook the financial sector clean. Between 2017 and 2019, the central bank embarked on an exercise that saw over 420 financial institutions including banks, microfinance companies, as well as savings and…
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Wotiriyɛ launched in partnership with NLA
In partnership with the National Lottery Authority a new lottery operative called Wotiriyɛ has introduced an exciting mobile phone based game called *787#. The goal of this game is to simplify the experience of playing the lottery. Anyone over 18 years with a mobile phone can play – and they do not even need to have an expensive phone…
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Ghana’s property tax must be reviewed to generate more revenue – Millennium Properties CEO
The Chief Executive Officer of Millennium Properties Limited, Peter Atsu Tsikata, is calling for reform of Ghana’s property tax rate to help rake in the needed revenue for the state. He says the current regime where owners of multi-million dollar properties in the country are made to pay property tax of about GHS 2, 000…
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Finance Ministry to assess economic impact of Year of Return initiative
The Ministry of Finance says it is setting up a unit to assess the economic impact of the Year of Return initiative announced by President Akufo-Addo. The Year of Return was initiated by the government last year to encourage Africans living outside the continent to visit Ghana to mark 400 years of the arrival of the…
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Ofori-Atta to raise over US$3 billion in diasporan bond
The Ministry of Finance is hoping to raise over US$3 billion in a Diasporan bond through the creation of the Diasporan Savings and Investment account. The account which will also be known as the African Sankofa Account will enable people of African descent living outside the continent to lend to the government of Ghana for…
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Green Climate Fund provides $9billion funding for climate change projects
The Green Climate Fund says it has made available nine billion dollars for some selected countries including Ghana to access money for climate change projects. The Green Climate Fund, according to the UNDP, will help the Finance Ministry endorse contracts that only meet requirements set out to protect the environment. Speaking to journalists after an…