Category: Business
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Customers of defunct Microfinance firms, S&Ls to receive full cash payment from September 16
Depositors of the collapsed Microfinance companies, Savings and Loans and Finance Houses will from Wednesday, September 16, 2020, have full access to their funds. It follows the government’s resolution of the original commercial paper, also known as bond. The government on Tuesday released a total of GHS3.56 billion to settle the remaining depositor claims of…
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GHS3.56 billion cash released to settle remaining customers of collapsed Microfinance firms, others
Government has released GHS3.56 billion in cash to fully settle depositor claims of 347 defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses that were being settled with bonds. The money will be ready for the depositors from Wednesday, September 16, 2020, according to a statement from the Receiver of these defunct firms.…
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Printing firms optimistic of increase in revenue as election season approaches
There is no doubt that the Coronavirus pandemic has literally rendered some business activities ineffective. But with the easing of restrictions and the upcoming elections, one is expected to see some change. Citi Business News takes a look at how businesses are picking up for operators in the printing industry with a focus on Accra…
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Prior online payment for mandatory COVID-19 test at KIA begins today
From today, September 15, 2020, passengers travelling to Ghana will be required to make an online payment for the compulsory COVID-19 test. The passengers will have to show proof of payment to the airlines before boarding flights to Ghana. However, some airlines operating within Ghana’s airspace say the directive will not be feasible until communication…
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GRA optimistic of meeting GHS42.7 billion target despite missing half-year target
Acting Commissioner General of the Ghana Revenue Authority, GRA, Amishaddai Owusu Amoah, has revealed it is implementing effective and efficient strategies and systems in order to exceed the revised tax revenue target set by government in the 2020 mid-year budget. This comes after it missed its half-year target by 6.9%. It will be recalled that…
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Alhassan Andani urges businesses to innovate and take advantage of AfCFTA
President of the Ghana Bankers Association, Alhassan Andani says Ghanaian businesses should be innovate in their operations to be able to expand their market base beyond the borders of the country. This, he says, is not only necessary to ensure the sustainability of their businesses, but also to adequately benefit from the Africa Continental Free…
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DKM customers will be paid by end of September – Akufo-Addo
President Akufo-Addo has promised to pay all customers of Diamond Microfinance Limited (DKM) in full by the end of September 2020. Speaking at a gathering of chiefs and people of Wenchi in the Bono Region as part of his presidential tour, the President stated that everyone who was owed money by the microfinance company will…
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Registrar General to release payment plan for clients of 20 FMCs this week
The Registrar General, Jemimah Oware, says she will divulge the exact details of governments’ bailout package in virtual meetings with creditors who qualify as investors of the defunct 20 fund management companies under official liquidation, on the 15th and 16th of September. Customers of the 20 companies have been incessantly calling for details on the…
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Cocoa Cooperative rolls out exposure mitigation program to support farmers
With COVID-19 still affecting all aspects of life, cocoa farmers in Ghana are struggling to meet production targets due to the impact of the pandemic. Some of these cocoa farmers in rural communities have little or no access to hand hygiene, sanitation facilities, and information on COVID-19 prevention measures. As a result, a COVID-19 Exposure…
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Tullow Oil Plc commends resilience of Ghana’s operations despite difficult times
CEO of Tullow Oil Plc Rahul Dhir has cited governments’ effective handling of the COVID-19 pandemic as a contributory factor to the impressive performance of its Ghana operations. Despite recording a $1.3 billion dollar loss after tax for the first six months of 2020, Ghana saw the strongest performance in the entire group producing an…