Category: Business
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Gold production output expected to rebound by 16% in 2021
The Ghana Chamber of Mines is confident gold production by its members will increase by over 15 percent in 2021 after declining by about 5 percent in 2020 due to the impact of COVID-19. Overall gold production in Ghana declined by 12.1% in 2020, the highest year-on-year decline since 2004. During his presentation at the…
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Airport Customs trains staff to improve operations
As part of efforts towards improving its operations at the Kotoka International Airport, the Customs Division of the Ghana Revenue Authority is running a training program for its over 250 staff. The division says this will help improve upon its staffs’ skills in properly examining goods and luggage that come through the country’s airport with…
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Italy to showcase leading companies in agricultural mechanization
The Ghanaian government’s vision for agriculture is ambitious yet achievable with the right mix of expertise, technology, and machinery. As a critical economic area, a resilient and productive agricultural value chain would have a transformational impact on growth, job creation, and living standards in the country. In Italy, Ghana has a trusted and ready partner…
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Formalise your operations to attract credit and growth – Grace Anim-Yeboah to MSMEs
The Director of Business Banking at Absa Bank Ghana, Grace Anim-Yeboah, has advised Micro Small and Medium Enterprises (MSMEs) who intend to secure credit facilities to expand their businesses to formalise their operations. Speaking on the on-air series of the Citi Business Festival on the Citi Breakfast Show, Madam Anim-Yeboah explained that these enterprises stand a better…
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Absa Bank offers collateral-free loans to credible MSMEs – Grace Anim-Yeboah
In a bid to see Micro Small and Medium Enterprises (MSMEs) thrive, ABSA Bank Ghana has been offering loans as high as GHS 500,000 to start-ups without taking any form of collateral. The Director of Business Banking at Absa Bank Ghana, Grace Anim-Yeboah, disclosed this on the on-air series of the Citi Business Festival on…
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Inflation rate drops further to 7.5% in May; lowest in over a year
Ghana has, for the second consecutive time this year, recorded the lowest year-on-year inflation rate. The inflation rate recorded for the month of May 2021 was 7.5 percent, which is one percentage point lower than the 8.5 percent recorded in April this year. The figure falls within the government’s medium-term inflation target of 8.0±2 percent…
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Alan woos American investors, as US EXIM Bank seeks to assist 1D1F with $300 million
Ghana’s Trade and Industry Minister, Alan Kyerematen, made a strong case for Ghana during the US President’s Advisory Council on Doing Business in Africa (PAC-DBIA) virtual Roundtable on Wednesday, June 2, 2021. The PAC-DBIA advises the US President, through the Secretary of Commerce, on ways to strengthen commercial engagement between the United States and African…
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Akufo-Addo launches Ghana Enterprises Agency
Ghana’s SME sector is expected to experience some enhancement in the coming days. This comes on the back of the launch of the Ghana Enterprises Agency (formerly NBSSI) and the National Micro, Small and Medium-Scale Enterprises (MSMEs) Entrepreneurship Policy. Speaking at the launch, President Akufo-Addo noted that the policy is aimed at reducing, if not…
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Government to introduce programme for taxing informal sector soon – John Kumah
A Deputy Minister-designate for the Ministry of Finance, John Kumah has hinted of the implementation of a new program to ensure Ghana’s thriving informal sector is efficiently taxed. While taking his turn before Parliament’s Appointments Committee, Mr. Kumah noted that the initiative tagged as the Revenue Assurance Compliance and Enforcement (RACE) program will in addition…
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Prof. Dodoo calls for dialogue on financial barriers stifling growth of MSMEs
The Chief Executive Officer (CEO) of the Ghana Standards Authority (GSA), Prof. Alex Dodoo believes Micro, Small and Medium Enterprises (MSMEs) will thrive and compete favourably on the market if financial barriers hindering them from having access to specific resources are removed. Citing an example to support his claim, Prof. Dodoo said some unfavourable policies…