Category: Business
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BoG maintains policy rate at 13.5% for third time
The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5%. The policy rate is the rate at which the Central Bank lends to commercial banks in the country. Addressing a press conference after the 102nd MPC meeting on Monday, September 27, the Governor of the Bank of Ghana…
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Ghana’s debt stock hits GH¢336 billion; debt-to-GDP ratio now 76.4% – BoG
Latest figures released by the Bank of Ghana indicate that in two months, the country’s public debt stock has increased by GH¢3.5 billion. By this, Ghana’s total public debt stock increased from about GH¢332 billion in May 2021 to about GHC336 billion in July 2021. According to the latest Bank of Ghana’s Summary of Macroeconomic…
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BOST saved Ghana from paying $26 million to BDCs – Managing Director
The Bulk Oil Storage and Transportation Company Limited (BOST) says its current management has saved Ghana from paying $26 million to eight Bulk Distribution Companies. The eight companies had asked BOST to pay $37 million for 22.7 million litres of petroleum products which allegedly went missing from tanks of the national strategic oil storage company…
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We must begin interrogating bank staff over bank-related robberies – Prof. Aning
Security analyst, Prof. Kwasi Aning, believes the time has come for financial institutions to embark on rigorous scrutiny of their staff following the increasing cases of bank-related robberies in the country. He says routine checks must also be carried out on both company and personal electronic devices, used by the staff to assess information that…
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Stakeholders advocate for high performance buildings at Ghana Green Building Summit 2021
Yecham Property Consult, in conjunction with the Embassy of Denmark and supported by IFC–EDGE Program, hosted the 4th Ghana Green Building Summit 2021 from 23rd to 24th September, 2021 at the CalBank Head Office in Accra. This year’s Summit, a hybrid version, symbolically captured our adaptation to the new normal with a combination of virtual…
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RCBs call for government intervention to retrieve GH¢100M locked-up cash from NTHC
Some Rural & Community Banks (RCBs), particularly those in the Ashanti Region, claim their GH¢100 million is locked up with the National Trust Holdings Company Limited (NTHC). According to the directors of these rural banks, NTHC, which is a state-owned entity with SSNIT as its majority shareholder has failed to pay them their claims since…
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BoG likely to maintain policy rate at 13.5% – Economist
Economist with Databank, Courage Martey is projecting an unchanged Policy Rate of 13.5% by the Bank of Ghana. The Monetary Policy Committee (MPC) of the Central Bank on Wednesday 22nd September, 2021 began holding its 102nd meeting to review developments in the economy. In an interview with Citi Business News on his expectations, Courage Martey said…
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GREDA blames housing deficit on lack of social housing arrangement by government
The Ghana Real Estate Developers Association (GREDA) says governments have done little to address the growing housing deficit in Ghana. It contends that adequate steps have not been taken by the appropriate authorities to resolve challenges associated with accommodation in the country. Ghana’s housing deficit remains the same, as against the increasing population of the…
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Stateholders must create accessible, affordable insurance for all – UNDP
Dr Angela Lusigi, United Nations Development Programme (UNDP) Resident Representative in Ghana, has called on stakeholders in the insurance industry to create accessible and affordable insurance solutions to build resilience in the face of increasing disaster risks. She said while disaster risks were on the increase, there was a huge protection gap in developing countries,…
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CSOs write to Speaker of Parliament to invite interested parties in AGM-AKER deal
The Alliance of CSOs working on Extractives, Anti-Corruption, and Good Governance, has made a request to the Speaker of Parliament to invite all interested parties in the AGM-AKER deal. They are of the view that this will pave way for a transparent conversation on the issue. The request is captured as part of a letter…