Category: Business
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Stay away from NAM1’s new land deal – Menzgold customers cautioned
The over 60,000 customers affected by the ongoing Menzgold saga are being cautioned against accepting a land deal being offered by CEO of the company, Nana Appiah Mensah. Leadership of the affected customers had earlier described the land deal as a second attempt by Appiah Mensah to defraud customers. Since 2018, Menzgold has struggled to…
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Ghana bans importation of day old chicks, poultry products from UK, other countries
The Ministry of Food and Agriculture has banned the importation of poultry products from Netherlands, Germany, Russia, Denmark and United Kingdom. This follows the outbreak of Highly Pathogenic Avian Influenza subtype H5N8 in those countries. The ban is being implemented with immediate effect. Some products to be affected by the ban include day-old chicks, hatching…
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Settle remaining debts or we’ll withdraw our services – IPPs to government
The Chamber of Independent Power Producers, Distributors and Bulk Consumers has served notice of its intent to withdraw services to the Ghana Grid Company (GRIDCo). According to a statement signed by its CEO, Elikplim Apertorgbor, the failure of government to settle at least 80 percent of its due debt worth over a billion dollars is…
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Aggrieved Menzgold customers reiterate calls for government bailout
The Chairman of the Coalition of Aggrieved Menzgold customers, Isaac Nyarko has reiterated calls for government to help resolve the Menzgold issues and have their monies paid to them. Following an order from the Securities and Exchange Commission (SEC) to suspend aspects of its operations in 2018, Menzgold has since struggled to pay monies belonging…
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Africa Financial Markets Index 2020: Ghana places sixth out of 23 countries
Ghana’s financial development has improved more than any other country on the continent in the last year. This is according to an annual review of Africa’s financial markets. The Absa Africa Financial Markets Index, produced by OMFIF and sponsored by Absa Bank, provides a toolkit for countries seeking to strengthen their financial markets infrastructure. It…
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Political interference cause of TOR’s woes – Senyo Hosi
The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Senyo Kwasi Hosi says political interferences in operations of the Tema Oil Refinery (TOR), will have to be halted in order for the entity to properly function. Speaking at the Energy Manifesto Town Hall, organized by the CBOD, Senyo Hosi said it will…
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Intensify efforts to reduce over-reliance on imports – Fidelity Bank MD urges government
Managing Director of Fidelity Bank, Mr. Julian Opuni is calling for intensified efforts by government to reduce Ghana’s over-reliance on imports and make the country self-sufficient post-COVID-19. According to him, a turnaround from import dependence is essential for the country to take full advantage of opportunities presented by the pandemic. Africa’s contribution to global trade…
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We’ll vote wisely to protect our jobs on December 7 – Automobile Dealers Union
The Automobile Dealers Union Ghana (ADUG) has described the upcoming December polls as a choice between destroying the jobs and livelihoods of their members or maintaining same. According to the General Secretary of ADUG, Clifford Ansu, even though Parliament passed a number of Bills before going on recess ahead of the December elections, it failed…
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Importation of second-hand cars rises
Importation of second-hand cars is on the rise over fears that the Customs Amendment Act, 2020, will be implemented in 2021, if the New Patriotic Party government is voted back into power. This was disclosed by the Automobile Dealers Union of Ghana. Speaking to Citi Business News, the General Secretary of the Automobile Dealers Union,…
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Inflation drops to 10.1%; lowest level since March 2020
The national year-on-year inflation rate in Ghana has dropped for the third consecutive time falling to 10.1 percent in the month of October. The inflation rate for October is therefore 0.3 percentage point lower than the inflation rate for the month of September. The decrease was influenced by the lower inflation levels of some non-food…