Author: Pius Amihere Eduku
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Auditor General found guilty of contempt for not responding to Osafo Maafo’s suit
The Auditor General, Daniel Domelevo, has been found guilty of contempt for failing to respond to a suit filed by the Senior Minister which is challenging a $1 million surcharge on him. According to the court, the reason given by Mr. Domelevo that he was busy finishing up an audit report for Parliament hence his…
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Power disruptions caused by Pokuase BSP project to end by Monday – MiDA
The Millennium Development Authority, MiDA, has assured electricity consumers within parts of Accra West and East regions of the Electricity Company of Ghana, that recent disruption to power supply should be over by next week Monday, May 18, 2020. It will follow the completion of the relocation of all four of GRIDCo’s transformers to the…
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Toyota Ghana Ltd donates vehicle, PPE to Noguchi & Ga East Municipal Hospital
Automobile company, Toyota Ghana Company limited, says it is confident in the ability of frontline workers to combat the spread and eventual containment of COVID-19 in Ghana if they’re given the needed support. To this end, the company has made a vital donation to two institutions to aid their work. The Noguchi Memorial Institute for…
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Ghana among 22 countries blacklisted by EU over money laundering breaches
Ghana has been cited as one of four African countries listed by the European Union (EU) for money laundering breaches. The new list also contains eight other countries named by the EU for the same infraction. According to the EU, the issue puts the financial transactions of the said countries under greater scrutiny. The other…
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Vegetable exporters lament over 100% rise in cost of freight due to COVID-19
The Vegetable Producers and Exporters Association of Ghana is lamenting the over 100% increase in the cost of exporting their produce due to the restricted movement caused by the coronavirus pandemic. The over 500 member association Association says though cargo flights are allowed to operate, it is taking a toll on their operations compelling some…
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BoG creates Fintech & Innovation office to deepen regulation of e-payment channels
The Bank of Ghana has established a new FinTech and Innovation Office to drive its cash-lite, e-payments and digitization agenda. According to the central bank, the emergence of FinTech solutions has introduced significant complexities that require it to focus, understand and supervise effectively. Among the role of the new FinTech and Innovation Office will be…
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Hoteliers unsure of complete shutdown as COVID-19 slows business
Some hotel managers say they are still uncertain whether they will shut down their operations completely despite being affected adversely by the coronavirus. The hospitality industry has not been spared by the impact of the pandemic; compelling managers of facilities to take tough decisions including reducing workforce by laying some staff off to stay afloat.…
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Food prices to keep rising due to impact of COVID-19 – Esoko
Commodity price survey service company, Esoko, is predicting that the prices of food items will continue to rise in the coming weeks due to the impact of COVID-19 on supply and production of some commodities. This is premised on the fact that for the post lock down period, two of the major staple foodstuff, cassava…
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First National Bank acquires GHL Bank
First National Bank (FNB) Ghana, has acquired hundred percent of GHL Bank. This therefore makes GHL Bank a subsidiary of First National Bank Ghana. A statement to Citi Business News confirmed the move, saying, the transaction has been approved by the boards of the two banks and has received the required regulatory approvals from the…
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Supreme Court dismisses suit against Ofori-Atta over $2.25bn Eurobond issuance
The Supreme Court has in a unanimous decision dismissed the case filed against the Minister of Finance, Ken Ofori-Atta, in the issuance of the $2.25 billion Eurobond in 2017. The Chief Justice, Kwasi Annin-Yeboah, who announced the decision said the details of the ruling will be made available on Wednesday, May 6, 2020. Dynamic Youth…