Author: Lawrence Segbefia
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More Dubai companies seeking Ghanaian partners – Dubai Chamber
The Dubai Chamber of Commerce has disclosed to Citi Business News that more companies in the United Arab Emirates are seeking to invest in bankable projects in Ghana. This follows efforts by the chamber and the Ghana Investment Promotion Center, GIPC, to attract investors from the UAE, particularly Dubai into areas such as agribusiness, health…
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CEOs divided over impact of financial sector clean-up —Oxford Business Group survey
A new survey conducted by the Oxford Business Group (OBG) has shown that almost 44 percent of CEOs are positive about a good outcome of the banking sector reforms undertaken by the Bank of Ghana in 2018. The survey also showed that 43 percent of the CEOs also expressed negative sentiments about the banking sector…
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Major boost for local rice millers as banks provide funds to clear harvest
The Ghana Rice Millers Association says it is ready to meet the market demand for Ghana rice this festive season. The assurance comes after the association secured a deal with some banks to provide funds for the millers at an affordable rate. The banks include GCB Bank, National Investment Bank, Barclays and ADB Bank. Members…
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Cal Bank signs $108 million deal with OPIC, Citi Bank to support SMEs
Cal Bank has signed a 108 million dollar deal with the Overseas Private Investment Corporation (OPIC) and Citibank (Citi) for on-lending to Small and Medium Enterprises (SMEs) in Ghana. The arrangement will enable Cal Bank to advance loans at relatively low interest rates to SMEs in Ghana with flexible repayment terms. In addition, beneficiaries of…
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ACEP builds dossier on poorly executed oil-funded projects to demand prosecution
The Africa Center for Energy Policy (ACEP) is worried that Ghana may not have a good story to tell in terms of how its revenue from the petroleum industry has been utilized. ACEP, which has complained about how oil funded projects are either abandoned or executed poorly, says it is putting together a dossier to…
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Peasant Farmers Association rescinds decision to boycott Farmers’ Day celebration
The Peasant Farmers Association of Ghana (PFAG) has rescinded its decision not to participate in this year’s National Farmers Day celebration in the Volta Regional capital, Ho. The association, earlier this week announced that it will boycott the celebration because some its members who are rice farmers still had their produce stuck at the farm…
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Peasant Farmers urge gov’t to be committed to 2022 ban on imported rice
The Peasant Farmers Association of Ghana (PFAG) has asked government to exhibit ample commitment if it really wants to ban rice importation by 2022. The Ministry of Food and Agriculture, which made the announcement in November just when a national conversation about local rice production was underway, says the move is aimed at strengthening local…
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OmniBSIC bank completes integration process after merger
Executive Director of OmniBSIC Bank, Philip Oti-Mensah, says the bank has been able to seamlessly integrate the operations of the two banks that were merged to form OmniBSIC. After the banking sector cleanup in 2018, the Bank of Ghana approved a merger between OmniBank and Sahel Sahara Bank, to help the new entity meet the…
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Gov’t pegs premix fuel subsidy for 2019 at Ghc206m despite reports of shortages
The Minister for Energy, John Peter Amewu, says government will continue to subsidize premix fuel to make the product available to fisher folk across the country. In recent times, the usual reports about the shortage of the product have resurfaced in some coastal communities. The Minister blames the shortage on persons he calls crooks who…
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ADB wins Best Cocoa Financing Institution Award
The Agricultural Development Bank Limited (ADB) has been adjudged the best Cocoa Financing Institution at the maiden Ghana Cocoa Awards (GCA). The award was in recognition of the Bank’s contribution as a pioneer in financing the cocoa sector and also taking banking closer to Cocoa Farmers across the country. At the awards held at the Movenpick…