Category: Business
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NPLs should drop to single digits in 2021 and beyond – Banking consultant
Banking consultant Nana Otuo Acheampong has expressed confidence in seeing the percentage of non-performing loans in Ghana’s banking sector, drop to single digits beyond 2020. His comment follows the announcement by credit rating agency, Fitch Ratings that, despite non-performing loans falling to 14 percent in 2019, from 22 percent two years prior, they will remain…
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Address our salary concerns, other issues in 48 hours – Tanker drivers to Akufo-Addo
The Ghana National Tanker Drivers Union has issued a 48-hour ultimatum to President Nana Akufo-Addo to address issues affecting their members or face their wrath. The tanker drivers, among other things, say they are compelled to take low salaries and endure harassment from police officers at various checkpoints in the country. They also accused the…
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Take advantage of risk management opportunities from COVID-19 – NIC Boss to Insurance firms
The Commissioner of Insurance, Mr. Justice Ofori, has advised Chief Executive Officers (CEOs) and Chief Finance Officers (CFOs) of insurance companies in the country to take advantage of the risk management opportunities occasioned by the emergence of the COVID-19 pandemic. He said this when he was advising them to rethink their ways of doing business.…
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Traders lament continuous rise in food prices contrary to earlier predictions
In the month of September, there were significant price increments for some commodities nationwide. The price of tomatoes, for instance, increased by 5.35 percent to close trading at GH¢348.17 per crate. This was followed by gari with a 3.78 percent increment to close at GH¢231.75 per 68kg. Commodities that made losses included yam, which decreased…
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COCOBOD targets 1.5 million tonne rise in cocoa production within five years
Management of the Ghana Cocoa Board (COCOBOD) says the successful implementation of earmarked programs under the $600 million AfDB credit facility, should increase the country’s annual cocoa production from about 900,000 metric tonnes to 1.5 million within the next five to seven years. The agreement for the facility which was signed in November 2019, is…
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Google and Amazon seek investment in e-commerce within AfCFTA
The Secretary General of the African Continental Free Trade Area,( AfCFTA) , Wamkele Mene, has disclosed that e-commerce giants, Google and Amazon, have approached the Secretariat for investment in AfCFTA . According to him, discussions are yet to be finalized on the necessary regulatory framework that will be used for the digital trade aspect of…
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DUFIL; owners of Indomie brand acquire Yum-mie noodles
Leading instant noodle producers and owners of the Indomie brand, ‘De United Food Industries (GH) Ltd, (DUFIL), has acquired the noodles division of Blow Chem Industries Ltd, producers of Yum-mie noodles. This acquisition comes a year after DUFIL set up its ultra-modern factory in Spintex, Accra. Indomie has been a dominant noodle brand in Ghana…
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Spending in December will not increase inflation rate – Economist
Usually, Ghana’s inflation rate sees a rise ahead of a Christmas season. But this time round, things may take a different turn as economic activities return after COVID-19 hit hard in an election year. This is according to an economist, Dr. Adu Owusu Sarkodie. The inflation rate for September, which is 10.4 percent, is the…
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Educate public on deposit protection scheme – Otuo Acheampong to banks
Banking Consultant, Nana Otuo Acheampong has called on financial institutions in the country to prioritize educating the public on the deposit protection scheme. According to him, this will ensure its success as well as increase the confidence of customers in the banking sector. The Ghana Deposit Protection Insurance Scheme was established to protect insured depositors…
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Kab-Fam Ghana Ltd. wins outstanding Electronic Retail Company Award
Electronic Retail Giant, Kab-Fam Ghana Ltd, has been awarded the outstanding Electronic Retail Company of the year at the Ghana Business Standard Awards held on Friday October 16th, 2020 at the plush Movenpick Ambassador Hotel. The Ghana Business Standard Awards is an initiative of KN Unique Communications in partnership with Strategic Accountancy Africa and Zelliate…