Category: Business
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COCOBOD borrows $2 billion in response to improved production by farmers
Better than expected, cocoa production for the 2020-2021 crop year has led the regulator of the sector, the Ghana Cocoa Board (COCOBOD), to borrow extra on the domestic market, to among other things mop up the excess cocoa beans being produced by farmers. COCOBOD has so far sold $2 billion (GHS 11.7 billion) of six-month…
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Deal with fuel smuggling, cylinder recirculation and petroleum price hikes – New NPA boss advised
Executive Director of the Institute for Energy Security (IES), Nana Amoasi VII, has urged the newly appointed Chief Executive of the National Petroleum Authority (NPA) Dr. Mustapha Abdul-Hamid, to prioritize resolving issues pertaining to fuel smuggling, cylinder recirculation and the continues rise in fuel prices at the pumps. President Akufo-Addo in a letter dated June…
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Businesses must take advantage of AfCFTA to diversify funding sources – Kobla Nyaletey
The Director of Markets at Absa Ghana and Nigeria, Kobla Nyaletey, has advised Ghanaian businesses to take advantage of the African Continental Free Trade Area (AfCFTA) to escape the high-interest rate regime in the country. Speaking on the theme, ‘Preparing and positioning for the AfCFTA opportunity‘ on Citi TV, as part of this year’s virtual…
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Benefits of AfCFTA won’t be automatic; we must work for it – Chamber of Commerce CEO
The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu Aboagye, has called for enhanced collaboration and a strategic plan from stakeholders in the country to enable Small and Medium-sized Enterprises (SMEs) to take full advantage of the Africa Free Trade Continental Agreement (AfCFTA). According to him, the opportunity…
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Ghana needs a ‘national branding’ strategy to fully enjoy AfCFTA benefits – Fatima Alimohamed
Chairperson of the Agribusiness Sector at the Association of Ghana Industries (AGI), and CEO of Africa Brand Warrior, Fatima Alimohamed, says getting a “national branding” strategy remains one of the major hurdles Ghana needs to cross if the country can obtain maximum benefit from the Africa Continental Free Trade Area (AfCFTA). She is of the…
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Akufo-Addo appoints Mustapha Hamid as NPA CEO
President Nana Akufo-Addo has appointed Dr. Mustapha Abdul-Hamid as the Chief Executive Officer of the National Petroleum Authority (NPA). He takes over from Hassan Tampoli, who is now MP for Gushiega and a Deputy Transport Minister-designate. The appointment takes effect from July 1, 2021. A letter from the President to Dr. Hamid dated June 17th…
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AOMC blames recent fuel price increase on hikes on global oil market
The Association of Oil Marketing Companies says the recent increase in fuel prices is due to a hike in the global oil market. Fuel prices at the pumps shot up from GHS6.05 to GHS6.23 over the weekend, an increase that many consumers have expressed concerns over. On the other hand, oil prices on the world…
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#CitiBusinessFestival: Virtual forum on AfCFTA comes off today
The fourth edition of the 2021 Citi Business Festival’s virtual fora comes off today, June 22, 2021. The panellists will delve deeper into the conversation on Trade, Export and the African Continental Free Trade Area (AfCFTA). The forum, scheduled to be held from 11:00 am to 1:00 pm, will be hosted by Citi News’ Vivian Kai…
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BoG must sanction banks that flout new directives on fees and charges – Banking Consultant
A Banking consultant, Dr. Akwasi Atuahene, has called on the Bank of Ghana to take action against financial institutions that fail to implement its new directives to stop deducting some charges and fees on the accounts of customers. The Central Bank in a statement on Friday, June 18, 2021, directed banks and Specialized Deposit-Taking institutions…
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African Development Bank to invest $3 billion in Africa’s pharmaceutical industry
In recognition of the devastating effects of the COVID-19 pandemic on African economies, the President of the African Development Bank, Akinwumi Adesina, says the bank is willing to help West African countries accelerate growth and development to ensure economic stability. Speaking at the opening of the 59th ECOWAS Heads of State and Authority summit in…