Author: Nii Larte Lartey
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Ofori-Atta hopeful IMF will disburse second tranche of Ghana’s US$ 3 billion bailout
Government is upbeat about Ghana’s receipt of the second tranche of the US$ 3billion bailout from the International Monetary Fund (IMF). Finance Minister, Ken Ofori-Atta believes, Ghana will meet the criteria for the disbursement of the next US$600. This comes after the recent assessment by the Fund’s visiting staff. Government expects the second tranche in…
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Picketing by Individual Bondholders Forum suspended
Members of the Coalition of Individual Bondholders Groups have suspended their planned picketing at the premises of the Finance Ministry, to demand payments of their outstanding principals and coupons. This comes after government’s payment of all outstanding matured coupons and principals owed the group. The group, made up of the Ghana Individual Bondholders Forum and…
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Govt honours obligations; pays matured coupons of individual bondholders
The Government has confirmed the settlement of all outstanding arrears owed to members of the Individual Bondholders’ Forum. A statement issued by the Finance Ministry on Monday explained that all coupons and principals due up to June 19 have been paid, and instructions for the payment of coupons up until July 10, 2023, have been…
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Apparel manufacturers call for increased investments to boost industry
The Ghana Apparel Manufacturers Association is asking government to prioritize investment in the industry to make the country the preferred apparel manufacturing hub. The group which is largest apparel-based business advocacy organization in Ghana says given the right support, it will be able to produce t-shirts on large scale to support other sectors including players…
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Bank of Ghana to auction US$120 million to BDCs in 2023 third quarter
The Bank of Ghana will in the third quarter of 2023 sell $120 million to Bulk Oil Distribution Companies (BDCs) under the FX Forward Auction Calendar for the same period. the calendar, $40 million each would be auctioned in July, August and September. Further breakdown suggests that $20 million each will be sold on July…
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Consider tax on plastics to raise revenue – Tax consultant to gov’t
Now as government struggles to raise revenue to support the country’s economic slowdown some tax analysts want government to turn attention to taxation on single use plastics. This they believe will help in Ghana’s revenue generation while protecting the environment. In recent times, there has been a strong push for policy instruments to drive responsible…
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Businesses urged to unlock potential with Data & AI technologies
Running a business is no longer tedious with the advent of digital tools and Artificial Intelligence (AI). These emerging technologies are enabling entrepreneurs and new business ventures to gain a competitive advantage. That’s why players in the space want companies to use these platforms to increase productivity and customer satisfaction. At a Data and AI…
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Fan Milk PLc recalls Fan Yogo batches after customer complaints
Fan Milk PLC, producers of Fan Yogo has recalled some batches of the product after concerns raised by some customers. Consumers who have recently purchased Fan Yoyo have taken to social media about the abnormal texture of the product prompting the company’s action. But the company has admitted to the anomaly saying, “the root cause…
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IPPs suspend planned shutdown after engagements with ECG
The Chamber of Independent Power Producers Ghana (IPPs) has suspended its planned shutdown of plants powering the national grid despite debts owed by government. This follows what the Chamber describes as fruitful engagements with the Electricity of Ghana (ECG). To this end, the IPPs have agreed to keep operating their power plants after July 1,…
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Mid-year budget review slated for July 27
Finance Minister, Ken Ofori-Atta is expected to present the Mid-Year Budget review to Parliament on Thursday, July 27, 2023. This is in accordance with Section (28) of the Public Financial Management Act, 2016 (PFMA) Act 921 which requires that the finance minister presents a Mid-Year Review to parliament six months after the presentation of the…