Category: Business
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Police Service discusses banking security with BoG, Bankers’ Association
As part of efforts to improve safety and security in the banking sector, the Ghana Police Service has met with officials of the Bank of Ghana and other relevant stakeholders in the sector. This comes on the back of several attacks on cash-in-transit operations within the country. The Ghana Police Service, in a Facebook…
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We’re not running 64th anniversary promo, ignore fraudulent reports – BoG
The Bank of Ghana has cautioned the general public against participating in a fraudulent promotion said to be on the bank’s 64th anniversary. According to a notice from the central bank, it has observed the fake promotion on social media, hence the disclaimer. The bank however says it is not running a 64th-anniversary promotion of…
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BoG warns against fraudulent money doubling scheme dubbed ‘Worldremit’
The Bank of Ghana is cautioning the general public against the patronage of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”. According to the Central Bank, “this fraudulent scheme is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers”. The central bank explained that the fraudulent…
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Inflation for September 2021 jumps to 10.6%; highest figure since August 2020
Data from the Ghana statistical service has revealed that the year-on-year Inflation rate for the month of September 2021 has jumped to 10.6 percent from the 9.7 percent recorded in August. According to the Ghana Statistical Service, the figure recorded as inflation for September is the highest since post-COVID-19 which dates back to August 2020.…
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Comply with consumer protection policies – BoG to banks
Governor of the Bank of Ghana, Dr. Ernest Addison, is asking banks in the country to comply with the consumer protection policy governing the sector. This forms part of the Central Bank’s effort to ensure the comfort and safety of consumers are well attended to. Section 3 of the Banks and Specialized Deposits-Taking Institutions Act…
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African businesses urged to adopt robust strategies to benefit from free trade agreements
Given the enormous advantages that Free Trade Agreements such as the Africa Growth and Opportunity Act (AGOA) with the USA, the African Continental Free Trade Agreement (AfCFTA) amongst others present, African businesses have been urged to acquire a distinct identity through a well-invested strategy, in order to properly position themselves before competitors, customers, stakeholders, and…
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Economist backs World Bank’s 9.8% end-of-year inflation rate projection for Ghana
The World Bank has projected that Ghana would end this year with an inflation rate of 9.8 percent. This forecast in the Africa Pulse Report by the World Bank falls within the Bank of Ghana’s target of 8 +/-2%. “In Ghana, weak domestic currency combined with a rise in food prices pushed headline inflation from…
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Bankers Association charges merchants to be vigilant to reduce ATM fraud
The Ghana Bankers Association has called for extra vigilance on the part of merchants providing goods and services in order to help reduce ATM or card fraud. The 2020 fraud report from the Central Bank revealed among other things that, ATM or Card fraud recorded a loss value of approximately GH¢ 8.19 million in 2020,…
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Zanetor Agyeman-Rawlings empowers women in agribusiness
The Member of Parliament for Korle- Klottey, Dr. Zanetor Agyeman-Rawlings, has commenced the National Agricultural Capacity and Business Set-up Roadshow to empower young women and persons with disabilities in agribusiness. She said the project was to reduce the financial burden on the people when they ventured into agribusiness. Dr. Agyeman-Rawlings, speaking at the screening and…
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NPA approves 2-month removal of Price Stabilisation, Recovery levy to reduce fuel prices
The National Petroleum Authority (NPA), has approved the removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG for two months. This was announced in a press statement issued by the Authority’s Corporate Affairs Department today, October 11, 2021. “The National Petroleum Authority (NPA) wishes to inform the public that His…