Category: Business
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2022 budget: Reset fiscal policy to create credible path towards sustainability – BoG to Government
Governor of the Bank of Ghana, Dr. Ernest Addison, is urging the government to use the 2022 budget to reset fiscal policy and create a more credible path towards medium-term fiscal sustainability. According to him, this is crucial to accelerate the country’s financial stability. Speaking at the 10th edition of the Ghana Economic Forum (GEF),…
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Ghana ranked best investment destination in West Africa, 6th best in Africa by Rand Merchant Bank
Ghana has been ranked the most attractive West African investment destination by the Rand Merchant Bank, beating Nigeria which is the largest Economy in the subregion. The report also shows Ghana as the 6th best investment destination in Africa. Ghana scored 5.54 while Egypt which the report describes as the most attractive investment destination in…
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The Makers Electronics wins ‘Promising Company of the year’ at 2021 Ghana Business Awards
The Makers Electronics Company Ltd. has won the ‘Promising Company of the year’ award at the 2021 Ghana Business Awards held at the Kempinski Gold Coast Hotel in Accra on Friday, October 29, 2021. The Makers Electronics deals in the sale of electronics and home appliances and offers services to Ghanaians from all walks of…
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December 31 deadline for microfinance firms to recapitalise draws closer
With just two months left for microfinance institutions to meet the deadline for their new minimum capital requirement of GH¢2 million, the Bank of Ghana has reiterated calls for them to ensure they build the necessary capacity to do so. The central bank’s recent reforms have seen the recapitalization of commercial banks as well as…
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Asafo drivers want government to scrap fuel levies
Drivers at the Asafo Neoplan Station in Kumasi have called on the government to take steps to reduce taxes and levies on petroleum products in the country. This, according to them, would help bring down the prices of fuel and other lubricants used in their business operations. Speaking to the Ghana News Agency in Kumasi…
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Receiver announces sale of 24 landed properties of collapsed microfinance firms
The Receiver for the collapsed 347 Microfinance Companies (“MFIs”) and the 23 Savings & Companies, Eric Nana Nipah, is in the process of selling another set of landed properties belonging to some of the defunct firms. Mr. Nipah had earlier in March 2021 announced the sale of some of the properties of the affected firms.…
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Atta Akyea calls for persons behind take or pay power agreements to be sanctioned
Chairperson of the Mines and Energy Committee in Parliament, Samuel Atta Akyea is calling for persons and companies who were involved in signing take or pay power contracts which have for many years cost the country millions of dollars to be brought to face the law. “If you asked me as a lawyer, it is…
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Court dismisses ENI’s request for review of unitization directive
The commercial division of the Accra High Court dismissed a judicial review application brought before it by ENI Ghana Exploration and Production Limited and Vitol Upstream Ghana Limited. The review application was in connection with a number of directives given by then Energy Minister John Peter Amewu for the unitization of ENI’s Sankofa oil field…
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Plans to kick out foreign players in Ghana’s downstream oil sector counterproductive – Henry Akwaboah
The Former Chairman of the Association of Oil Marketing Companies, Henry Akwaboah, says the government’s plans to aggressively implement a local content law on the downstream sector risk dwindling investor confidence in the country. This follows some moves by the government to increase local participation in the space. Henry Akwaboah says if this is not…
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Rural Banks will soon accept Ghana Card as primary source of identification – ARB Apex Bank
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says it is working with the relevant authorities to ensure that the National Identification Card is accepted at Rural Banks across the country as a valid form of identification. For some time now universal banks in the…