Author: Nerteley Nettey
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Benchmarking prices of goods and services against the exchange rate illegal – BoG Governor
The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such as the U.S dollar. Despite the existence of the law, the practice exists in many facets of the Ghanaian economy as some businesses have even adopted new ways by…
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Finance Minister commissions digital petroleum measurement project to boost Gov’t revenue
In order to realize its full revenue from various tank farms across the country, the Ministry of Finance and the Ghana Revenue Authority in collaboration with Strategic Mobilization Company, has commissioned a digital downstream petroleum products measurement project in Tema. Speaking at the commissioning ceremony, Finance Minister, Ken Ofori-Atta, said the new system will address…
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Yofi Grant appointed External Independent Member of the Board of OACPS’ Endowment & Trust Fund
The Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre ,(GIPC), Reginald Yofi Grant, has been appointed as an External Independent Member, for a 2-year mandate, on the Board of Directors of the Organisation of African, Caribbean and Pacific States, OACPS’ Endowment and Trust Fund (ETF), to represent the West Africa Region. The OACPS’…
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Olympus quits camera business after 84 years
Olympus, once one of the world’s biggest camera brands, is selling off that part of its business after 84 years. This is according to the BBC. The firm said that despite its best efforts, the “extremely severe digital camera market” was no longer profitable. The arrival of smartphones, which had shrunk the market for separate…
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Trade Ministry outlines enhanced protocols to curtail COVID-19 spread in workplaces
The Ministry of Trade and Industry has outlined enhanced restrictions and protocols to prevent the spread of COVID-19 in workplaces. This is part of measures to help curb the spread of the virus in the country, after health authorities disclosed that there is an increase in COVID-19 cases among institutions. Some of the restrictions include…
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JICA and other DFIs provide $600 million syndicated loan to COCOBOD
COCOBOD, Japan International Cooperation Agency, JICA and other Development Finance Institutions have announced a $600 million credit facility for COCOBOD’s Productivity Enhancement Programmes (PEPs). The facility is part of a number of projects in line with the Ghana beyond Aid agenda. In November 2019, Development Finance Institutions (DFI) including African Development Bank (AfDB), Japan International…
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Hollard partners Melcom to boost insurance penetration in Ghana
One of Ghana’s leading insurance companies, Hollard Life Assurance, has partnered retail giant, Melcom Ghana to make insurance services easily accessible to Ghanaians. The new partnership known as the ‘Hollard-On-The-Go’ will increase insurance penetration by easing accessibility of insurance services to include more people. Speaking to Citi Business News at a ceremony to launch the…
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Tanzanian miner becomes overnight millionaire
A small-scale miner in Tanzania has become an overnight millionaire after selling two rough Tanzanite stones – the biggest ever find in the country. This is according to the BBC. Saniniu Laizer earned £2.4m ($3.4m) from the country’s mining ministry for the gemstones, which had a combined weight of 15kg (33 lb). “There will be…
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Banking sector clean-up: We’re partnering with state agencies on prosecutions- BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed some reservations about the processes being used in the prosecution of officials found culpable in the banking sector crisis. He however says although the banking sector regulator has no control over the judicial processes, it is collaborating with the relevant state agencies to…
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Huawei officially announces EMUI 10.1 update schedule
Huawei has announced the global release schedule of EMUI 10.1. First introduced during the launch of the Huawei P40 series in March this year, EMUI 10.1 is built upon Huawei’s distributed technology model, offering users a seamless all-scenario experience across multiple devices. As we move towards a smarter future, Huawei’s EMUI 10.1 promises path-breaking innovation…