Category: Business
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Social innovator turns plastic waste into sandals
With a population of nearly 2.9 million, Accra is a rapidly growing capital, producing nearly 2,000 metric tons of waste each day, of which only an estimated 60% is collected. As a result, uncollected plastics obstruct the drainage systems, are burnt illegally, or end up in streams and the ocean, choking sea life and breaking…
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Qatar Airways to operate four weekly flights to Accra
Qatar Airways has announced it will operate four weekly flights to Accra, Ghana via Lagos from 29 September 2020, becoming the fourth new destination launched by the national carrier of the State of Qatar since the start of the pandemic. The Accra service will be operated by the airline’s state-of-the-art Boeing 787 Dreamliner featuring 22…
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GCB Bank’s G-Money launches API for Fintech partners
G-Money, GCB Bank Ghana Limited’s mobile money service has launched ‘Nexus,’ an open Application Programming Interface (API) system to onboard third-party Financial Technology (FinTech) partners. With the API, G-Money partners are now able to perform disbursements, collections and bill payments including the payment of school fees and utility bills. Additionally, partners will be able to…
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Farmers elated about siting of new rice processing factory in Sefwi Akontombra
As parts of efforts by the government to boost productivity and increase job opportunities, the government with funding from the African Development Bank through the Agricultural Commodity Processing Development of the Rural Enterprise Program (REP) have started a rice Processing Factory in Sefwi Akontombra in the Western North Region. The factory- Sefwi Akontombra Rice Processing…
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Over 600 bags of maize harvested from Citi FM/Citi TV farm
The Management of Citi FM/Citi TV has harvested over 600 bags of maize from 10 out of its 20-acre maize plantation in the Akuapem North District of the Eastern Region. The farming initiative, which is in partnership with Glofert Fertilizer Company, forms part of the station’s commitment towards the ‘Operation Feed Yourself’ campaign, which was…
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Bank of Ghana maintains policy rate for 3rd consecutive time at 14.5%
The Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 14.5 percent after a similar decision in May and July of this year. This makes it the third consecutive time the policy rate has being maintained in 2020. The rate is of keen interest to businesses, as it signals the…
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Our members didn’t file multiple applications for COVID-19 stimulus package – Hotels Association
The Ghana Hotels Association has rejected claims that its members submitted multiple applications for government’s COVID-19 stimulus package for businesses. Chief Executive Officer of the National Board for Small Scale Industries (NBSSI), Mrs. Kosi Yankey-Ayeh, had recently indicated that some hoteliers were submitting family names under the same business to access the fund in a…
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Ghana’s debt stock up by GHS43.5 billion
Ghana’s total debt stock has gone up again. According to the latest Summary of Macroeconomic and Financial Data from the Bank of Ghana, the total public debt stock which started the year at GHS219.6 billion, saw an accumulation of GHS43.5 billion in seven months. This brings the total debt at the end of July 2020…
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Pay fuel suppliers regularly to ensure continuous power supply – IPPs to government
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB–Ghana) has questioned government’s commitment to regularly pay its members to ensure a continuous supply of power in the country. This comes days after Government announced an amended Power Purchase Agreement with CENIT Energy Limited, a Ghanaian independent power producer. According to the Chamber, government…
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Help reduce debts in Ghana’s energy sector – Government to IPPs
Government has called on Independent Power Producers (IPPs) in the country to help reduce debts and provide a stable energy supply for Ghanaians. The advice comes after the government successfully secured terms for an amended Power Purchase Agreement (PPA), with CENIT Energy Limited (CEL), a Ghanaian independent power producer. Per the agreement, CEL has decided…