Category: Business
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Prices of foodstuff to go down this month – ESOKO Ghana predicts
Commodity Analyst, Esoko Ghana, says the prices of some foodstuff are likely to see a further reduction in the month of August. The prediction is based on the rains witnessed in the first half of the year as well as the easing of COVID-19 restrictions. In July, there was significant price reductions for some commodities…
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1D1F: Ekumfi Juice, Casa De Ropa to pick up after COVID-19 slowed production
Mangers of two major factories under government’s One District One Factory initiative in the Central Region, Ekumfi Fruit and Juices Factory, and Casa de Ropa company, say although they have been negatively impacted by the COVID-19 pandemic, their production capacities have not been significantly reduced. The two firms, which have received credit facilities from the…
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SEC urges fund managers to invest more in ICT services
The Director General of the Securities and Exchange Commission, SEC, Rev. Daniel Ogbarmey Tetteh, has emphasized the need for fund managers to leverage on technology for business growth. According to him, the impact of information and communication technology (ICT) in the securities industry has become increasingly critical considering the impact of the novel Coronavirus on…
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First Atlantic Bank launches 25th anniversary; commits to sub-regional expansion
First Atlantic Bank has launched its 25th Anniversary celebration with a commitment to continue providing its customers with innovative products and services as it positions itself for bigger competition in the West African sub-region. Speaking to Citi Business News, the Managing Director of the bank, Odun Odunfa, said, the milestone will be marked in all…
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ADB shows impressive half-year performance despite impact of COVID-19
The Agricultural Development Bank (ADB), has posted impressive financial growth in its half year results even in the face of the Coronavirus pandemic that has wreaked havoc to all sectors of the economy including the financial sector. But the unaudited half year results published by the Bank last week showed a growth in all key…
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Local banks now more resilient and able to support economic growth agenda – Finance Minister
The Finance Minister, Ken Ofori-Atta, says the banking sector reforms undertaken by government in 2017 and 2018, has strengthened local banks, making them more resilient to shocks. Assessing the balance sheets of local banks currently, the Finance Minister argued that the financial health of Ghanaian-owned banks are stronger compared to the period before the cleanup…
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Beverage producers optimistic eased COVID-19 restrictions will revive operations
Beverage producers in the country are hopeful the decision by government to provide stimulus package for small and medium enterprises will help large firms to continue supplying their clients in the value chain. A recent survey by the Ghana Statistical Service revealed that even though COVID-19 negatively impacted businesses, SMEs were the hardest hit with…
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We’ve instituted stringent measures to detect distressed banks – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors. The Governor says the measures include tightening of the bank’s supervisory role to stop the…
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ARB Apex Bank increases operating income by 17 percent for 2019
Although falling interest rates remain a burden on the profitability of the Bank, ARB Apex Bank put up an impressive performance, increasing its total operating income by 17 percent from GHS55.5 million in 2018 to GHS64.96 million in 2019. Assets of the Bank recorded a significant growth of over 47 percent from GHS394.5 million in…
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Be mindful of MoMo fraudsters – MTN urges consumers
While mobile money transactions have increased financial inclusion and made money transfers less stressful over the past years; it comes with some disadvantages as well. One of the challenges for users of the platform in Ghana these days is the phenomenon of Mobile Money fraud. The fraud is either perpetuated physically through robbery attacks on…