Category: Business
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Ghana Stock Exchange returns -13.98 % in 2020, lowest in over half a decade
After returning losses to investors for the first three quarters of 2020, the Ghana Stock Exchange returned a gain of 5.2 % for equity investors in the fourth quarter, a development which should continue in 2021 and lead to the first positive return in a year for the local bourse since 2017. That’s according to…
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Akufo-Addo government charged to reduce cost of power in 2nd term
The Ghana National Chamber of Commerce and Industry has urged President Akufo-Addo to couple the extension of electricity to communities without power, with a significant reduction in the cost of power itself, across the country. According to data from the Energy Ministry, access to Electricity in Ghana as at the end of 2020 was around…
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Akufo-Addo declares 2021 as ‘second year of roads’
President Nana Addo Dankwa Akufo-Addo has declared 2021 as the “second year of roads”. Delivering his inaugural speech on Thursday, January 7, 2021, President Nana Akufo-Addo said he will largely focus and prioritize road projects to improve infrastructure this year. “Our roads are being constructed at a faster pace than before, and yes, there are…
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SSNIT increases 2021 pension by 10%
The Social Security and National Insurance Trust (SSNIT), in consultation with the National Pensions Regulatory Authority (NPRA), and in accordance with Section 80 of the National Pensions Act 2008 (Act 766), has indexed monthly pensions upwards by 10% for the year 2021. This increment shall be implemented as follows: All Pensioners on the SSNIT Pension…
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Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana
Almost a week after the commencement of the African Continental Free Trade Area (AfCFTA), businesses in Ghana, both small and big, have been charged to be proactive in taking steps to participate and benefit fully from the continent-wide agreement. Trading under the agreement was supposed to have commenced in July 2020 but had to be…
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Serene Insurance meets GH¢50 million new minimum capital requirement
Serene Insurance Company Limited, a subsidiary of the First Sky Group, has announced that it has fully met the new minimum capital requirement of the National Insurance Commission, NIC, one year ahead of the official deadline. This announcement was made by Mr. Eric Seddy Kutortse, Executive Chairman of the First Sky Group, during the 18th…
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Forward auction likely to stabilise cedi in first quarter of 2021 – Economist
The use of forward auctions on the interbank foreign exchange market in the country will be key in keeping the cedi stable within the first quarter of the year. This is according to economist with Databank, Courage Martey. The cedi has over the years experienced some depreciation from the last quarter of a year through…
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BoG Governor confident of cedi’s stability in 2021 after 3.8% depreciation in 2020
Governor of the Bank of Ghana, Dr. Ernest Addison is confident the reserves it has amassed so far, coupled with other measures to be implemented by the government in 2021 should see the local currency remaining stable throughout this year. The cedi which depreciated by 3.8 percent against the dollar in 2020, outperformed many of…
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Eni Ghana and OCTP partners join NBSSI to support SMEs in Ellembelle
Eni Ghana, on behalf of its OCTP partners Vitol and GNPC, has signed a cooperation agreement with the National Board for Small Scale Industries (NBSSI) to support Micro, Small and Medium Enterprises (MSMEs) in the Ellembelle District in the Western Region. Under the agreement, 800 MSMEs will get entrepreneurship, financial literacy and technical skills training.…
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About 12,000 businesses have benefited from Nkosuo Fund – NBSSI
The National Board for Small Scale Industries (NBSSI) has so far disbursed funds to about 12,000 businesses under the Nkosuo Fund. According to its Executive Director, Kosi Yankey-Ayeh, the Board hopes to finish its disbursements by January 31, 2021. The Nkosuo programme, which is a GHS90 million injection into the sector, was launched in September…