Category: Business
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Golden Star Takeover: Management assures of protection for employees
Ghanaian Gold Mining Company Golden Star, has assured that discussions are being held as part of the negotiation for their takeover by Chinese Gold Mining firm, Chifeng Jilong. According to the company, this is to ensure that employees of the Ghanaian mining firm are protected during and after the acquisition exercise. Golden Star on Monday…
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NPA confident fuel prices will be stable in November
The National Petroleum Authority, NPA, is confident that the two-month removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG will provide the desired relief to Ghanaians when it takes effect. According to the Authority, it will do everything within the law to ensure that the Price Stabilization and Recovery levy…
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We’ll introduce more strategies to rake in revenue in 2022 budget – Charles Adu Boahen
Minister of State at the Ministry of Finance, Charles Adu Boahen has hinted that government will use the 2022 budget to introduce more policies and strategies to rake in more revenue and widen the tax net. According to him, this forms part of efforts to facilitate effective and efficient mobilisation of taxes in the country.…
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How mortgage interest rates can further be reduced – Republic Bank explains
Dan Mohenu, Senior Manager for Commercial & Retail Banking of Republic Bank (Ghana) PLC has offered some explanations as to why interest rates on mortgage facilities, and for that matter all loans may not go down as significantly as some members of the public expect. He gave his explanation when he spoke as a panel…
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Chifeng Jilong Gold to acquire Golden Star for US$470 Million
Ghana-focused miner Golden Star Resources says China’s Chifeng Jilong Gold Mining has agreed to purchase all of the company’s shares for a total of $470 million in cash. The Transaction will be consummated through Chifeng’s majority-controlled subsidiary, Chijin International (Hong Kong) Limited. In a statement, Golden Star CEO Andrew Wray said the deal would help…
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2022 budget: Prof. Quartey calls for measures to boost Ghana’s growth rate
The Finance Minister, Ken Ofori-Atta is expected to present the budget statement for the 2022 fiscal year in Parliament on November 17, 2021. Ahead of this presentation, stakeholders are hopeful that issues such as Ghana’s debt sustainability, illicit financial flows, unemployment, reduction of the revenue and expenditure gap, and many others will be addressed. For…
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Ghana Standards Authority to establish new Metrology Institute by 2023
The Ghana Standards Authority (GSA) says it has begun taking steps to establish a Fit-For-Future National Metrology Institute by the year, 2023. The Project aims at strengthening the capacity of the GSA, the National Metrology Institute (NMI) in Ghana as well as enhancing their measurement capability to meet the requirements of the scientific community and…
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Former President Mahama calls for increased funding of SMEs to reduce unemployment
Former President, John Mahama has charged African leaders to actively offer funds and tax waivers to Small and Medium-Sized Businesses on the continent to help reduce unemployment as the continent tries to recover from the impact of the Covid-19 pandemic. He made the remarks while delivering the keynote address at the 3rd annual edition of…
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ADB MD wins two awards at Ghana Business Awards
The Managing Director of the Agricultural Development Bank, Dr. John Kofi Mensah has been honored as the Public Sector Chief Executive Officer at the 4th Edition of the Ghana Business Awards held at the Kempinski Gold Coast Hotel in Accra. Dr. Kofi Mensah was awarded for transforming the Agricultural Development Bank Limited (ADB) from a…
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Africa must hasten slowly in discarding hydrocarbons – Dr. Amin Adam
A deputy Energy Minister, Dr. Mohammed Amin Adam, says African countries ought to exercise some patience in adopting cleaner sources of energy. According to the Energy And Petroleum Economist, the recent energy crisis in Europe should be clue enough that no economy can depend solely on the “so-called cleaner sources of energy”. Dr. Amin Adam…