Author: Lawrence Segbefia
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Banks sign ‘Sustainable Banking Principles’ to invest in environmentally friendly projects
Banks in the country have signed the Sustainable Banking Principles and Sector Guidance Notes that binds them to strictly invest only in environmentally friendly projects. Per the principles, banks in Ghana can reject investment in areas that may promote environmental degradation and pollution. Speaking at the launch of the guidelines, the Vice President, Dr. Mahamudu…
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BoG to scrutinize salaries of bank CEOs and compensations of boards
The Bank of Ghana (BoG), has served notice that it will soon scrutinize the salaries of Chief Executive Officers and compensations for boards of all banks in the country. The move according to the central bank is aimed at cutting down on the huge salaries of Managing Directors who are not performing to satisfaction. Reacting…
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ADB to partner Posco International of South Korea to establish oil palm refinery
The Managing Director of the Agricultural Development Bank (ADB) Limited, Dr. John Kofi Mensah has said the Bank is set to partner Posco International of South Korea for the establishment of a multi-million dollar oil palm refinery in Ghana. Posco International is multi-billion dollar company with expertise in establishing value chains in various areas of…
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BoG maintains policy rate at 16 percent to achieve end-of-year inflation target
Cost of borrowing may not go down at least before the year ends as the Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 16 percent. This was announced after the final meeting of the committee for 2019. The policy rate is the rate at which commercial banks borrow…
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Disregard for good corporate governance collapsing family businesses -Rockson Dogbegah
The President of the Institute of Directors Ghana, Rockson Dogbega, says blatant disregard for the principles of good corporate governance structures is largely the reasons why most indigenous companies don’t survive beyond their founders. According to him, family relations and sometimes acquaintances often fail to follow laid down procedures, leading to the collapse of companies.…
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Rice farmers should contact District Agric Department for help – Ato Panford
The Vice Chairman of the Parliamentary Select Committee on Trade, Industry and Tourism, Ato Panford, has urged rice farmers in the Northern Region seeking buyers to contact the Agric Directorate and Department at the various District Assemblies for help. He says government is liaising with Agric extension officers and the Agric Directorates to implement initiatives…
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Telcos request audit report on alleged tax under-declaration
The Ghana Chamber of Telecommunications is requesting an audit report that suggests that some telcos in the country under-declared taxes from 2015 to March 2017. The Communications Minister, Ursula Owusu-Ekuful, while addressing the media announced that the implementation of the KelniGVG’s revenue assurance and traffic monitoring centre for Mobile Network Operators saved the country GH¢1.5…
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GIPC to attract more investors into agribusiness in 2020—Yofi Grant
The Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has said his outfit will prioritize investments in agriculture and agribusiness in 2020. This, he explained will feed into government’s agricultural programmes such as the Planting for Food and Jobs as well as Rearing for Food and Export. Mr. Grant maintained that…
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Deposit Protection Scheme will restore confidence in financial sector—Dr. Bawumia
The Vice President, Dr. Mahamudu Bawumia, is optimistic the setting up of the Ghana Deposit Protection Scheme will enhance confidence in the financial sector. He explained that the passage of the Deposit Protection scheme, which will be implemented by the Ghana Deposit Protection Corporation, will also reform the financial sector since there are strict guidelines…
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ECOM Ghana bags three Ghana Club 100 awards
Ecom, a leading global commodity merchant and sustainable supply chain management company picked three awards at the 18th Edition of the Ghana Club 100 Awards in Accra. The company’s subsidiary, Agro-Ecom Ghana Limited, was ranked the 10th Best Company in Ghana as well as the best new entrant into Ghana club 100. Its logistics subsidiary,…