Author: Nerteley Nettey
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Currency that never gains gets Ghana Central-Bank lifeline
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line in the sand, ready to intervene should the currency slip out of the tight range it’s held since May. The Bank of Ghana has sold dollars in the spot and forward markets to stabilize the…
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Qatar Airways to launch four weekly flights to Accra starting Sept 29
Qatar Airways has announced that will operate four weekly flights to Accra, via Lagos from 29 September 2020 becoming the fourth new destination launched by the national carrier of the State of Qatar since the start of the pandemic. The Accra service will be operated by the airline’s state-of-the-art Boeing 787 Dreamliner featuring 22 seats…
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48,998 firms in manufacturing sector closed down during lockdown – GSS
Data from the Ghana Statistical Service, GSS, indicates that the shock caused by the COVID-19 pandemic had considerable impacts on Ghanaian businesses, forcing many firms to shut down. According to the data, the accommodation and food sector, for example, saw over 29,000 businesses closing down during the lockdown period with about 17 of those businesses…
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Asset base of defunct microfinance firms, others was short by GHS4 billion – Receiver
The Receiver of the 347 defunct microfinance companies, 23 savings and loans and finance houses, faced a GHS4 billion shortfall in the asset base of defunct companies it hoped to recover. Speaking on Citi TV‘s The Point of View, Eric Nana Nipah explained that the firms cumulatively said they had an asset base of about…
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Ghana’s economy records first contraction in 37 years
Provisional figures released by the Ghana Statistical Service, GSS, show that for the first time in 37 years the Ghanaian economy contracted by 3.2%. According to the same data, the country’s second quarter Gross Domestic Product (GDP), that is the value of goods and services produced from April to June, increased to GHS85.7 billion cedis,…
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Make the most out of the all-new Huawei Petal search with these easy tips
Got your hands on the latest Huawei device and want to enjoy using it? Download all of your favorite apps and games and get busy! Thanks to HUAWEI AppGallery, the third largest app marketplace in the world, you have a wide range of local and global apps at your disposal! But how do you it?…
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Huawei announces new developer technologies capable of smarter all-scenario experiences
Huawei has unveiled major upcoming updates for Harmony OS 2.0, EMUI 11, HMS (Huawei Mobile Services), HUAWEI HiLink, and HUAWEI Research in its keynote speech at the Huawei Developer Conference 2020 held in Songshan lake, China. These improvements they revealed will empower global developers and ecosystem partners to provide enhanced and innovative user experiences. At…
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Customers of defunct Microfinance firms, S&Ls to receive full cash payment from September 16
Depositors of the collapsed Microfinance companies, Savings and Loans and Finance Houses will from Wednesday, September 16, 2020, have full access to their funds. It follows the government’s resolution of the original commercial paper, also known as bond. The government on Tuesday released a total of GHS3.56 billion to settle the remaining depositor claims of…
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GHS3.56 billion cash released to settle remaining customers of collapsed Microfinance firms, others
Government has released GHS3.56 billion in cash to fully settle depositor claims of 347 defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses that were being settled with bonds. The money will be ready for the depositors from Wednesday, September 16, 2020, according to a statement from the Receiver of these defunct firms.…
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Standard and Poor’s low credit ratings, unfortunate – Finance Ministry
The Ministry of Finance has described as unfortunate the recent downgrade of Ghana’s credit rating from B to B-negative by international ratings agency, S&P Global. According to the Ministry, though it acknowledged that the downgrade was global, it found it disturbing that the rating agencies would choose to lower its ratings at a time when…