Category: Business
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Société Générale Ghana records GHS 109M profit in 2022 despite DDEP impact
Société Générale Ghana Plc recorded a GHS 109 million profit after tax for the year 2022 as compared to the GHS 184 million cedis recorded in 2021. This represents a decrease in the profit margin of the bank. This comes on the back of the implementation of the Domestic Debt Exchange Programme (DDEP) by government…
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Ban on cryptocurrency still in force – Finance Ministry warns
The government has reiterated its ban on the use of cryptocurrency in all transactions, saying that all financial institutions in the country have been directed not to engage in crypto transactions. Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam, made the announcement when he answered questions on the floor of Parliament. “The…
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Aggrieved Menzgold customers demand action from Parliament
The Coalition of Aggrieved Customers of Menzgold (CACM) has urged the Speaker of Parliament to admit, move, and deliberate the motion filed on their behalf before the next mid-year budget is presented on July 27, 2023. The coalition said that members of Parliament have not been able to bring the issue to the fore and…
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Rana Motors officially launches Kia Carens in Ghana
In its quest to meet the dynamic needs of its clients, Rana Motors has officially launched the Kia Carens, the latest addition to the Kia line –up unto the Ghanaian Automobile market. The new automobile which is a spectacular combination of futuristic technology and inspiring design promises to serve the demands of families. The Kia…
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Coalition of Individual Bondholders Groups to picket at Finance Ministry over unpaid bonds
The Coalition of Individual Bondholders Groups has notified government that members of the group will picket the Ministry of Finance from July 6 to demand payments of their bonds. The picketing will continue until their grievances are addressed by the relevant authorities. The Coalition, which is made up of the Individual Bondholders Association of Ghana…
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ECG to begin new nationwide revenue mobilisation from July 11
The Electricity Company of Ghana (ECG) has announced the commencement of a new nationwide revenue mobilization initiative known as “Operation Zero.” Scheduled to begin on July 11 and conclude on September 11, 2023, this two-month campaign aims to recover every outstanding debt to the last pesewa. In an official statement, the ECG emphasized that it…
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NPA cracks down on illegal ‘Gao Gao’ fuel stations in Upper East Region
The Upper East Regional office of the National Petroleum Authority (NPA) has embarked on an exercise to clamp down on 16 illegal reseller outlets popularly known as ‘gao gao’ in the region. The region had observed an alarming proliferation of these reseller outlets in areas such as Pelungu, Duusi, Gbane Shiega, Tongo, Gaare, Chuchuliga, Bolga…
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IMF conditionalities not preventing energy sector leakages – ACEP
The Africa Centre for Energy Policy (ACEP) has disclosed that the conditionalities of the International Monetary Fund are not helping curb the revenue leakages in the country’s energy sector. In a report dubbed, ‘Protecting Ghana’s Economic Sustainability in the Face of Power Sector Risks,’ the energy think tank said the already implemented conditionalities are not…
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Gas is the ideal transitional fossil fuel due to its low carbon emissions – Ghana Gas CEO
The Chief Executive Officer (CEO) of the Ghana National Gas Company (Ghana Gas), Dr. Ben K. D. Asante, emphasized the importance of embracing new gas markets in the energy transition discourse during a stakeholder round table discussion held on Tuesday, July 4, 2023. With the theme “Embracing New Gas Markets in the Energy Transition Discourse,…
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Fan Milk PLc recalls Fan Yogo batches after customer complaints
Fan Milk PLC, producers of Fan Yogo has recalled some batches of the product after concerns raised by some customers. Consumers who have recently purchased Fan Yoyo have taken to social media about the abnormal texture of the product prompting the company’s action. But the company has admitted to the anomaly saying, “the root cause…