Category: Business
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Peasant Farmers concerned about Development Bank Ghana’s mode of operation
The Peasant Farmers Association of Ghana says it is disappointed that the yet to be established Development Bank Ghana will not deal directly with farmers. The bank is a major part of the GHS100 billion Ghana CARES ‘Obaatampa’ programme aimed at dealing with the devastating economic effects of the COVID-19 pandemic. Head of Programmes and…
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Economist urges government to secure concessionary loans to reduce debt
Economist, Dr. Lord Mensah is urging the government to go in for concessionary loans instead of commercial loans from the Eurobond market. This comes after plans by government to raise as much as US$1 billion through the sale of sustainable bonds by July this year. According to the Minister of State at the Ministry of…
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Ghana’s debt crosses GHS300 billion mark as debt-to-GDP ratio drops to 70.2%
Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended 2020 at GHS291.6 billion, saw about GHS13 billion being added in the first quarter of 2021. This represents an increase of about 4 percent, and brings Ghana’s total public debt as…
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Citi Business Festival starts on June 1
The 2021 edition of the most anticipated business programme, the Citi Business Festival will start on Tuesday, June 1. The Citi Business Festival is a month-long initiative marked with on-air and outdoor events held annually in the month of June to equip the Ghanaian business community with strategies needed to grow and scale up their…
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IES urges government to act on its ENI/Springfield unitisation directive
The Institute for Energy Security (IES) has charged government to take immediate steps to actualize its directive to Eni Ghana Exploration and Production Limited and Springfield Exploration and Production Limited to unitize the Afina discovery and the Sankofa field. According to the Institute, urgent action is required from government given that time is of essence…
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Stakeholders call for intensified efforts in adding value to Ghana’s cocoa exports
The CEO of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, says the absence of “cocoa billionaires” in Ghana is a sign that the country has not efficiently “monetized and domesticated” the crop that regularly brings about two billion dollars of foreign exchange into the country. According to him, despite having produced cocoa over the…
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Public Safety Bureau wants transportation of petroleum products in Ghana regulated
The Bureau of Public Safety is calling on the various state regulatory agencies to reassess the transportation of petroleum products in the country, following the recent tanker explosion which resulted in the deaths of three people. In an interview with Citi Business News, the Executive Director of the Bureau of Public Safety, Nana Yaw Akwada,…
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Policy rate to remain unchanged for 7th consecutive time – Economist predicts
Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has predicted that the policy rate will remain unchanged at 14.5 percent. Should the prediction come to pass it will be the seventh consecutive time the rate has remained at that figure since March last year. The rate is…
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AOMCs call on government to address revenue leakages in petroleum sector
The Association of Oil Marketing Companies is calling on the government agencies to do all they can to address all inadequacies in the petroleum sector which cause the country to lose revenue. According to the association, many of its members who are tax compliant are forced out of business by their non-compliant counterparts offering outrageous…
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We’ll ensure VW’s investment in Ghana yields results – Akufo-Addo
The President, Nana Akufo-Addo has assured Volkswagen (VW) Ghana of its commitment to the success of the company, along with other automobile companies in the country. The remarks were made when the new Chairman and Managing Director of the Volkswagen Group for Sub-Saharan Africa, Dr. Robert Cisek, paid a courtesy call on the President at…