Author: Nerteley Nettey
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Ghana’s return to the IMF will restore investor confidence – Republic Bank MD
Managing Director of Republic Bank (Ghana) PLC, Benjamin Dzoboku has stated that Government’s decision to go to the International Monetary Fund (IMF) to seek for economic assistance will go a long way to help increase the ability of banks to increase lending to priority sectors of the economy. Despite, data showing that many sectors of…
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IFC and LMI partner to provide clean power and water to businesses
Ghana’s manufacturing sector is set to see a boost as the IFC—a member of the World Bank Group and LMI Holdings have signed a partnership to provide essential infrastructure services to manufacturing companies located in LMI-operated special economic zones in Ghana. The initiative will see IFC provide LMI with a loan of up to $30…
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Global price dynamics push value of Ghana’s total exports to $9 billion in June 2022 – BoG data
The value of Ghana’s total exports increased to about 9 billion dollars in June 2022, from the 7.6 billion dollars recorded during the same time period in 2021. This is contained in the Bank of Ghana’s Summary of Macroeconomic and Financial Data for July 2022. The report also shows an increase in total imports from…
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Telecoms Chamber and IIPGH advocate sustained coding education
The Ghana Chamber of Telecommunications in partnership with the Institute of ICT Professionals, Ghana, (IIPGH), is advocating sustained coding education for children cross the country. The call was made on the sidelines of the final workshop of the Institute’s Coding Caravan initiative in Tsiame in the Volta Region of Ghana. The workshops, which started in…
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FDI Inflows: Ghana is second highest recipient in West Africa
FDI flows to Ghana increased by 39% to $2.6 billion for the year 2021. According to the World Investment Report 2022, this placed Ghana second in West Africa, and seventh in Africa, in terms of FDI attraction. The rise in Ghana’s FDI flows was attributed to major projects in its extractive industries, which included; the…
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Government to use windfall from petroleum sector to address revenue gaps – Ofori-Atta
Government has announced that it intends to use the windfall from the petroleum sector to address revenue gaps and aggressively improve its revenue mobilization drive. This was announced by the Minister of Finance, Ken Ofori-Atta during his presentation of the 2022 Mid-Year Budget Review in Parliament on Monday, 25th July, 2022. According to him, this…
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Bank of Ghana maintains policy rate at 19%
In its quest to ensure macroeconomic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 19 percent. This is the first time the Central Bank has maintained the policy rate this year, after increasing it twice by 200 basis points or more. The rate, which is of keen…
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Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in June; 78.3% of GDP
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at June 2022, at USS 54.4 billion or GH¢393.4 billion. In Dollar terms, the debt dropped by about $4 billion in the first 6 months of the year, from $58.6. billion in December 2021 to $54.4 billion at half year,…
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Establishment of ORC will further boost ease of doing business – Akufo-Addo
Government’s efforts to create an enabling environment for businesses to thrive has been augmented by the establishment of the Office of the Registrar of Companies, ORC. This is according to President Akufo-Addo. Speaking at the launch of the newly established Office of the Registrar of Companies (ORC) in Accra, President Akufo – Addo said the…
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Mohinani Group to open first bottle-bottle PET plant in Ghana
Parent company of Poly Tanks (Gh) Ltd, Mohinani Group, is set to invest over $16 million to open Ghana’s first bottle to bottle recycling plant to supply food grade rPET (recycled polyethylene terephthalate) of European standards. According to the Group, the investment is in line with the company’s commitment to meet both the Group and…