Author: Nerteley Nettey
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Ghana’s debt stock hits GH¢336 billion; debt-to-GDP ratio now 76.4% – BoG
Latest figures released by the Bank of Ghana indicate that in two months, the country’s public debt stock has increased by GH¢3.5 billion. By this, Ghana’s total public debt stock increased from about GH¢332 billion in May 2021 to about GHC336 billion in July 2021. According to the latest Bank of Ghana’s Summary of Macroeconomic…
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BoG likely to maintain policy rate at 13.5% – Economist
Economist with Databank, Courage Martey is projecting an unchanged Policy Rate of 13.5% by the Bank of Ghana. The Monetary Policy Committee (MPC) of the Central Bank on Wednesday 22nd September, 2021 began holding its 102nd meeting to review developments in the economy. In an interview with Citi Business News on his expectations, Courage Martey said…
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COCOBOD secures $1.5 billion syndicated loan for 2021/2022 crop season
The Ghana Cocoa Board (COCOBOD) has signed an agreement for a $1.5 billion syndicated loan facility for the 2021/2022 cocoa crop season. This is the largest loan facility so far in its history. The funds, which will be used to purchase cocoa beans for the 2021/2022 crop season, have an interest rate of 1.1 percent…
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Registrar General’s Department to publish names of 222 companies expunged from its register
The Registrar-General, Jemima Oware, says her outfit will, from October 1, publish the names of two hundred and twenty-two dormant companies whose names have been struck out of the Companies Register. According to her, these companies will be classified as being inactive and will not be able to be accessed for any business transaction for…
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Prof. Peter Quartey re-appointed to ADB Board
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has been re-elected to the nine-member Board of Directors of the Agricultural Development Bank (ADB), for a second term. This was announced during the inauguration ceremony for the board in Accra. The board of ADB also has three new…
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We’re settling our clients via payment schedule – Legacy Fund Management
Legacy Fund Management Limited has assured its customers affected by the clean-up of the sector that they will receive their monies in full. The company urged them not to panic, as it is going through all the processes to ensure that they receive their monies. This follows calls some customers made to government to expedite…
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ILO organises training programme for SCORE implementing partners on gender equality
The International Labour Organisation (ILO) has this week organised a two-day training programme for implementing partners of its Sustaining Competitive and Responsible Enterprises (SCORE) programme. The focus of the programme is on gender parity at the work place to curb all sorts of discrimination that could potentially drag the success and growth of small and…
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Cynthia Lumor appointed as Deputy Managing Director of Tullow Ghana
Tullow Ghana has announced the appointment of Cynthia Lumor as Deputy Managing Director, effective October 1, 2021. Cynthia Lumor is the first to be appointed as Deputy Managing Director of Tullow Ghana since the company began its Ghana operations in 2006. As Deputy Managing Director, Cynthia Lumor will be responsible for the integration of the…
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Honour your tax obligations – Nana Addo cautions lawyers and business professionals
President Nana Akufo-Addo has charged members of the legal fraternity to honour their tax obligations or face the rigours of the law. This comes barely a month after the Ghana Revenue Authority (GRA) disclosed that over 60,000 business professionals have been evading tax, per an exercise conducted. Speaking at the Ghana Bar Conference in the…
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Freight rates for cocoa shipment up by 5%
The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA), and the shipping lines ferrying Ghana’s cocoa exports to the international market have agreed to increase their cocoa freight charges by five percent for the 2021/2022 cocoa season, which starts on October 1. This was after a lengthy negotiation with the 26 shipping lines ferrying the…