Category: Business
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Valuation of consumer stocks decline by as much as 56% on Ghana Stock Exchange
Food and consumable sector stocks performance on the Ghana Stock Exchange were significantly poor for the first half of 2020 compared with their performance in the same period in 2019. All the three food and consumable sector stocks on the local bourse– Guinness Ghana Breweries, Unilever Ghana and Fan Milk –as of June 2020, had…
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GIPC pledges support for potential Ghanaian investors in the Diaspora
The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant, has assured Ghanaians in the diaspora that the Centre is ready to assist them to take advantage of investment opportunities in the country. He explained that the GIPC serves as the intermediary between the private sector and the government; hence, their…
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Government to reduce taxes on digital devices and spectrum costs – Bawumia
Government has announced that as part of efforts to inspire digital transformation it will reduce the high cost of data in the country, if the New Patriotic Party is re-elected into power in December. According to them, this will be done through the reduction of taxes on digital devices, reduction of spectrum and license costs,…
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Vulnerabilities in digital systems reason for increase in banking sector fraud – E-crime Bureau
The latest report released by the Bank of Ghana on cyber fraud indicates that the banking industry, in 2019, reported a total of 2,295 fraud cases as compared to 2,175 fraud cases reported in 2018. Giving reasons for the increase in the number of fraud cases in the sector, the central bank stated that the…
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Edward Boateng seeks tariff-free entry of Ghana’s cocoa products into Chinese market
Ghana’s cocoa products will soon enjoy zero tariffs on China’s market should everything go as planned. This is according to Ghana’s Ambassador to China, Edward Boateng. He made these comments after a launch of the Africa Cocoa Centre; a cocoa trading space which will connect Africa to China’s fast-growing appetite for chocolate and other cocoa…
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Construction industry players demand feasible plans from political parties in their manifestos
Ghanaian contractors are challenging political parties to tell them about their policies towards the growth and development of the construction industry and indigenous contractors. They want this properly captured in their manifestos, so that they can hold whoever wins the elections in December 2020 accountable. President Akufo-Addo has stated that all the 88 district hospitals…
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MPS Terminal 3 breaks all-time productivity record on MSC LIVORNO
On Saturday 15th August 2020, Meridian Port Service (MPS) reached a new level of container handling productivity on vessels by exceeding the previous record of 112 moves/hour which was achieved on MSC ALTAIR that berthed at Terminal 3 on 15th May 2020. The new vessel productivity record of 139.91 moves/hour on MSC LIVORNO is from…
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FDA allays fears of transmission of COVID-19 through poultry products
The Foods and Drugs Authority has allayed fears of animal to human transmission of COVID-19 following news that poultry products from Brazil have been affected by the virus. As such, countries including China and the Philippines, which receive poultry imports from Brazil have ceased to do so for the time being. Poultry farmers in Ghana…
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Valuation of financial stocks decline significantly on local bourse
Financial sector stocks performance on the Ghana stock exchange were generally poor for the first half of 2020 when compared to their performance in the same period in 2019. Currently, 12 financial sector companies are listed on the local bourse, consisting of 10 banks and 2 insurance companies. The GSE Financial Stocks Index (GSE-FSI) which…
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GOIL records highest profit growth since 2016
GOIL Company Limited now GOIL Company Limited (PLC), has recorded its highest growth in 3 years. The company whose share price witnessed a drop of about 45 percent in 2019, said its impressive performance should improve demand for its shares which will boost its share valuation on the Ghana Stock Exchange. The company reported a…