Category: Business
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Don’t fish in restricted zones – Petroleum Commission to fishermen
The Petroleum Commission has appealed to the fishing community to abide by the laws that prohibit them from fishing within marked areas around the country’s oil fields in order to protect their lives as well as avoid any potential damage to the country’s oil fields. The call according to the Commission forms part of efforts…
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Agrihouse holds third LiPF in Accra
As part of efforts to bring stake holders in the agricultural sector together to develop more strategies that seek to modernise the agricultural sub-sector to enhance high productivity especially the livestock, Agrihouse foundation has held its third Livestock, Poultry and Fisheries Tradeshow, LiPF, in Accra. Over the years, the LiPF tradeshow has showcased and promoted…
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MSMEs to enjoy low interest rates with creation of Development Bank Ghana – Ofori-Atta
Finance Minister, Ken Ofori-Atta has assured that the establishment of the Development Bank Ghana (DBG) will see a reduction in interest rates for Ghanaian businesses. This comes barely a day after the Ministry of Finance and the European Investment Bank signed an agreement for the provision of a €170 million facility for the establishment of…
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Increased manufacturing pushes PPI for April to over 11%
The average price of goods and services received by domestic producers in the country for their production activities, in the month of April 2021 went up by 11.1%, when compared with the prices received by the producers in April 2020. The increase in prices which brings the producer price inflation rate for April 2021, to…
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GRA takes on OMCs for not remitting consumer taxes totalling over GHS100 million
The Ghana Revenue Authority on Thursday, May 20, 2021, began an exercise to take on Oil Market Companies (OMCs) that have defaulted in honouring their tax obligations to the state. The exercise saw the GRA partially possessing and locking up assets of some seven oil marketing companies who, cumulatively, owe the state over GHS100 million…
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Finance Minister justifies establishment of Development Bank Ghana
Finance Minister, Ken Ofori-Atta, has defended the government’s decision to set up the Development Bank Ghana (DBG). The Minister says the Bank is a major part of the GHS100 billion CARES ‘Obaatampa’ programme aimed at dealing with the devastating economic effects of the COVID-19 pandemic. “DBG is a key pillar in our efforts to quickly…
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Stakeholders in mining sector advocate for patronage of local electrical cables
Stakeholders in the mining sector, as part of efforts to push for more local content in production, are advocating for the use of locally-made electrical cables in the industry. It is for this reason that a set of new standards has been launched for the use of electrical cables in the mining industry. The Chief…
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COVID-19 affected upstream oil and gas sector in 2020 – PIAC
The Public Interest and Accountability Committee (PIAC) says the outbreak of the COVID-19 pandemic and its associated shocks on the economy and major industry actors proved challenging to upstream oil and gas operations in 2020 compared with 2019. PIAC said the outbreak and effect of the COVID-19 pandemic brought some uncertainties in the global upstream…
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Akufo-Addo secures €170 million for Development Bank-Ghana
The Ministry of Finance and the European Investment Bank have signed an agreement for the provision of a one hundred- and seventy-million-euro (€170 million) facility for the establishment of a new national bank, the Development Bank Ghana (DBG). DBG is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project, which is seeing to…
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Banks will soon recognise Ghana card as main identification for transactions – Bankers Association
Deputy Chief Executive Officer of the Ghana Association of Bankers, John Awuah has stated that his outfit is in discussions with other stakeholders that will lead to the implementation of a parallel system that will see banks accept the new National ID cards in addition to a number of other ID cards for financial transactions.…