Author: Pius Amihere Eduku
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Banks hopeful investments will pick up as depositors receive locked up funds
Some banks say they are anticipating an increase in their investment portfolio with the repayment of some locked up funds to depositors of the collapsed financial institutions. Following the assurance to protect depositor funds, the government, through the Receiver, is making final payments to the affected customers of the savings and loans companies, finance houses…
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COPEC demands reduction in fuel prices as global crude prices drop again
The Chamber of Petroleum Consumers, COPEC, wants Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that consumers have been given over…
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Analysts commend Ghana’s commitment to nuclear energy policy
The Comprehensive Nuclear Test Ban Treaty Organisation (CTBTO) has commended Ghana’s efforts at adopting nuclear energy within the next decade to augment its energy supply needs. The Executive Secretary of the Organisation, Lassina Berbo, told Citi Business News the progress with researches and policies being carried out by the Ghana Atomic Energy Commission shows the…
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World Bank supports countries badly hit by coronavirus with $12 billion
The World Bank has said that it is supporting countries coping with the health and economic impacts of the COVID-19 outbreak. The global financial institution’s support is to the tune of twelve billion dollars. According to a statement from the Bank, the financing is designed to help member countries take effective action to respond to,…
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$200m port projects at Mpakadan and Debre to boost transportation on Volta Lake
The Volta Lake is to host the Akwamu Port project in three years time when the facility starts operating. The project, which is being spearheaded by construction and real estate investment firm, LMI Holdings, will see the construction of two ports at Mpakadan and Debre in the Eastern and Savanna Regions respectively. The construction of…
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GRIDCo threatens to surcharge encroachers of its lands for cost of eviction
The Ghana Grid Company, GRIDCo, has cautioned it will start surcharging encroachers on its lands, the amount incurred in evicting them from the properties. A statement issued by the power supply company said the impact of encroachment on its lands could prolong outages experienced by some customers if the situation is not checked. GRIDCo says…
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Esoko urges gov’t to consider value addition aside from constructing warehouses
Agricultural profiling and messaging service provider, Esoko Ghana, wants government to be proactive with value addition to agricultural produce beyond the warehousing policy to boost production. As part of measures to achieve food security, the government is set to construct one warehouse in each district to help store excess agricultural produce. This is to augment…
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UNIPASS roll out on March 1: Freight forwarders caution against major setback
The Ghana Institute of Freight Forwarders (GIFF), has warned government against a major setback in clearing activities at the Elubo and Aflao borders following a directive to all clearing agents to use the UNIPASS system. A letter from the Senior Minister’s office sighted by Citi Business News said selected points of entry have been earmarked…
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Stanchart rewards winners of SC Mobile App campaign
Standard Chartered Bank, Ghana, has awarded three customers who emerged winners of its SC Mobile Anfield Experience campaign. Two of the winners were rewarded with all-expense paid tickets to the UK with an opportunity to watch a home match at Anfield. The third winner was rewarded with a curved 65-inch television set and a customised…
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Defunct Microfinance, S&L customers with huge sums unhappy with payment in bonds
Some customers of the defunct microfinance and savings & loans companies, who visited the head office of the Consolidated Bank Ghana on Thursday, February 27, to retrieve their locked up capital, have decried the mode of payment by the Receiver. The customers, who received their notification messages, say they have been told by the bank…