Category: Business
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Bank of Ghana cautions against online trading of Ghana Cedi notes and coins
The Bank of Ghana has cautioned against the buying or selling of Ghana Cedi notes and coins currently in circulation as legal tender on online platforms. The Bank says it is the only institution with the right to issue and redeem Ghana Cedi notes and coins in Ghana, according to Article 183 (1) of the…
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Registrar-General’s Department introduces new electronic system for business registration
The Registrar-General’s Department (RGD), has announced the introduction of a new electronic system to aid in the processes and procedures of registering companies in the country and promote government’s efforts at improving the ease of doing business in Ghana. According to the Registrar General, this is in compliance with the Companies Act 2019 (Act 992)…
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Local banks must fully fund cocoa syndicated loan in future – Hackman Owusu-Agyemang
Board Chairman of COCOBOD, Hackman Owusu-Agyemang, has urged local banks and financial institutions to strategically position themselves, so they are able to fully provide the loan COCOBOD needs to purchase cocoa beans in the not too distant future. Since the 1992/1993 cocoa crop season Ghana’s cocoa sector regulator, has been signing syndicated loan facilities with…
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Product prices increased by 4.2% between April and May – Report
The prices of products increased in all localities by an average of 4.2% due to the occurrence of the COVID-19 pandemic. This is according to a recent survey dubbed, the Local Economies Tracker, conducted by the Ghana Statistical Service (GSS) on the impact coronavirus had on local economies. The survey, conducted in May and June,…
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Guinness Ghana launches ‘Link Up 2.0’ Promo to giveaway GHS2M free and instant airtime to Ghanaians
To enable friends reconnect and unlock deeper bonds that were once shared prior the pandemic, Guinness Ghana, Ghana’s leading total beverage company has launched Phase 2 of its National Consumer Promotion, ‘Link Up’, to give away a guaranteed GHS2 million worth of free and instant airtime. Dubbed ‘Link Up 2.0’, this year’s promo has an…
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Borkams industrial and trading enterprise resolves issues with GSA
Borkams industrial and trading enterprise, a firm that deals in quality electrical cables, has resolved issues that led to its closure by the Ghana Standards Authority (GSA). Borkams, located at Agbogba in Accra and owned by a Ghanaian was accused of dealing in cables not certified by GSA. It was thus closed down in June…
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COCOBOD secures $1.3 billion syndicated loan; first tranche expected by October 10
Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo says the first tranche of the newly signed $1.3 billion syndicated loan facility which will cater for the purchase of cocoa beans for the 2020/2021 crop season should hit their accounts by October 10, 2020. The agreement for the loan was signed in Accra…
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BoG Governor justifies conversion of bonds to cash to pay defunct MFIs, S&Ls’ customers
The Governor of the Bank of Ghana, Dr. Ernest Addison has justified the recent decision by government to release an amount of GHS3.56 billion in cash, to fully settle claims of depositors of defunct Microfinance companies, Savings and Loans firms and Finance Houses, instead of sticking to the original plan to pay that amount using…
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NBSSI launches 2020 Ghana Women Entrepreneurship Summit
The Ministry of Trade and Industry says as part of plans to move women entrepreneurs from the micro to larger-scale businesses, it will focus on making funds meant to grow businesses accessible to them. Deputy Minister for Trade and Industry, Robert Ahomka Lindsay said this at the launch of the 2020 Ghana Women Entrepreneurship Summit,…
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About 90% of local businesses recorded reduced sales due to COVID-19 – GSS
A survey conducted by the Ghana Statistical Service (GSS) to track the impact of the COVID-19 pandemic on local economies indicates that most businesses have recorded a whopping 90 percent reduction in sales since the virus hit Ghana in March 2020. These businesses also recorded a 72 percent drop in production. The shock caused by…