Author: Lawrence Segbefia
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Offer better protection for financial consumers amid COVID-19 – Group urges BoG
A group known as the Alliance for Financial Consumer Protection (AFCOP), has called on the Bank of Ghana to be proactive in protecting financial consumers in the wake of the COVID-19 pandemic. The group says its call is based on the approach adopted by the Bank of Ghana in ensuring that there is adequate relief…
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COVID-19: BoG hopeful its 5 major decisions will lessen impact on financial sector
The Bank of Ghana says it is hopeful that the proactive measures it has taken so far to protect the financial sector from a possible shock from COVID-19 will yield results. In its latest banking sector report, the central bank says it has taken 5 major decisions that will stabilize the financial sector against any…
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Efficacy of UNIPASS questioned by Freight Forwarders ahead of official outdooring
As government prepares to officially outdoor the UNIPASS system at the country’s ports on Tuesday, April 28, 2020, the Ghana Institute of Freight Forwarders is questioning the efficacy of system. The system is to take over the implementation of the single window platform from GCNET and West Blue Consult. However, a report signed by the…
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COVID-19: Republic Bank donates 2 ventilators, ECG monitors to Ridge Hospital
Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited, has donated two Ventilator machines and ECG Monitors to the Greater Accra Regional Hospital, Ridge in Accra. The ventilators and other equipment valued at GHS 240,000.00 forms part of the Bank’s GHS1.1 million contribution towards the fight against the COVID-19 pandemic in Ghana. The Greater…
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Local companies make progress in PPE production for COVID-19 fight
Some local companies that have received financial support from government are making progress with the mass production of Personal Protective Equipment (PPE) to strengthen government’s fight against the spread of COVID-19. Four companies, namely Dignity Apparel, Cadling Fashion, Alfie Design and Sleek Garment Export Limited have all received a total of 10 million dollars as…
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Tourism Ministry donates items to some industry players to boost COVID-19 fight
The Minister of Tourism, Arts and Culture, Mrs. Barbara Oteng-Gyasi, on Thursday April 23, made the Ministry’s 4th donation of essential equipment to the Ghana Tourism Federation (GHATOF) and tourism industry players to fight against the spread of COVID-19. The donation was made to four trade associations under GHATOF. The associations included Traditional Caterers, Indigenous…
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World Bank predicts global remittances may drop by 20% in 2020 due to COVID-19
The World Bank is projecting that global remittances may decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers,…
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Lifestyle and fashion businesses lament low sales amid COVID-19
Local producers in the lifestyle and fashion industry say they have recorded low sales since Ghana recorded its first COVID-19 case in March. Most producers in the fashion business say they started seeing a dip in online sales and direct shop purchases because most of their products don’t fall under essential items needed around this…
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BoG directs banks, SDIs not to declare dividends to shareholders amid COVID-19 troubles
The Bank of Ghana has directed all banks and Specialized Deposit Institutions (SDIs), to desist from declaring and paying any dividends or distributing reserves to shareholders as the country fights the COVID-19 pandemic. By this, shareholders are not expected to receive dividend from banks and SDIs for the 2019/2020 financial year. A press statement issued…
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Ghana Association of Bankers contributes GHS2m to COVID-19 Fund
The Ghana Association of Bankers in a bid to mitigate the impact of COVID-19 on individuals and businesses in Ghana, has contributed two million Ghana cedis to the Ghana COVID-19 Private Sector Fund. The amount is GAB’s contribution towards the construction of a 100-bed COVID-19 Infectious Disease and Isolation Facility, located at the Ga East…