Category: Business
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GH¢60bn loss: BoG can’t refuse to lend to government – Dr. Kwabena Duffuor
A former Governor of the Bank of Ghana, Dr. Kwabena Duffuor has said the Central Bank is obligated to provide support to government in times of a crisis provided it’s done with adherence to the law. Dr. Kwabena Duffuor who also is a former Finance Minister between 2009 to 2012 disclosed that in financing Government,…
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We can’t keep our power plants on if payments are not consistent – IPPs
The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor has indicated that the IPPs will only take on the threat of shutting down their plants only if promises made to them by the government are not fulfilled. “It is not about the threat to shut down, it is about our…
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Forge strong synergies that will attract more FDIs – GIPC tells businesses
The Ghana Investment Promotion Centre (GIPC) has emphasized the need for stakeholders in the business space to forge partnerships aimed at creating synergies that spur economic growth. This, the Investment Center explains will improve efforts aimed at attracting more sustainable Foreign Direct Investment (FDI) into the country and the African continent. According to the 2023…
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Sprite moves to clear pet plastic packaging in Ghana
Sprite is moving away from its iconic green packaging to fresh, new clear PET plastic bottles, including an update of the full portfolio’s packaging design. Now everyone can enjoy the same great taste of their favourite sparkling lemon-lime drink knowing their bottle can be easily recycled and made into new bottles. The transition from green…
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Republic Bank and Petra Trust sign MoU to provide pension-backed mortgages to Ghanaians
Republic Bank (Ghana) PLC, one of the leading Universal Banks and a pioneer in the mortgage business in Ghana has signed a Memorandum of Understanding (MoU) with Petra Trust Limited Company, a corporate trustee, authorized by the National Pensions Regulatory Authority (NPRA) to manage pension schemes in Ghana. The MoU is a collaboration to provide…
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Transport operators threaten to increase fares by 20%
The Coalition of Transport Union and Association is threatening to increase transport fares by 20 percent if government fails to scrap off some taxes from the petroleum price build-up. The association says government must abolish the sanitation and pollution levy, and energy sector levy to ease the unnecessary pressure on drivers and other consumers. Speaking…
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ECG settles June, July payments to IPPs
Citi Business News has gathered that the Electricity Company of Ghana (ECG) has settled debts to all Independent Power Producers (IPPs) for the months of June and July after earlier concerns expressed by the power generation companies. Sources close to Citi Business News confirm that all the IPPs have received a second payment for current…
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Electricity tariff goes up by 4.22%
The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs for all non-lifeline residential customers, affecting the average end-user. This decision comes after a review carried out for the third quarter of 2023 by the PURC. According to the PURC, the primary objective behind the tariff adjustment is to ensure…
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Managing Director of Republic Bank pays courtesy call on Asantehene
The Managing Director of Republic Bank (Ghana) PLC, Mr. Benjamin Dzoboku, paid a courtesy call on Otumfuor Osei Tutu II, the Asantehene at his Manhyia Palace on Friday, 18th August 2023. The visit was in appreciation of Otumfuor’s presence at a luncheon in his honor hosted by Republic Financial Holdings Limited (RFHL), the parent company…
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BoG new head office 41% completed; to be finished in Sept. 2024
The new headquarters of the Bank of Ghana (BoG) is expected to be completed in September 2024. The physical progress on the 13-storey facility currently stands at 41%. This was disclosed in a document issued by the Bank of Ghana in Accra on August 21. The Minority in Parliament and other Civil Society Organisations have…