Category: Business
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Banks lost GHS 56 million to fraud in 2022 – BoG report
Banks and other financial institutions in the country recorded a total loss value of GHS 56 million attributable to fraud for the year ending 2022. This is, however, a 7. 8 per cent drop compared to the GHS 61 million recorded in 2021, according to data from the 2022 fraud report compiled by the Financial…
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Corporate bodies urged to use AI to improve productivity
Stakeholders in the tech industry are urging corporate bodies in the country to leverage artificial intelligence (AI) to enhance their competitiveness in the globalized marketplace. The call comes on the back of the rapidly evolving landscape where AI technologies have proven to be instrumental in transforming businesses worldwide. Chief Executive Officer of Web and Software…
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BoG warns against 97 illegal loan Apps in Ghana
The Bank of Ghana (BoG) has cautioned the public against the operation of some online Apps operating without authorization. 97 of such applications have thus been cited for engaging in unlicensed lending activities in contravention of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (930). “The Bank of Ghana reiterated that the activities of these…
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Citi Business Festival: Forum on Building Resilient SMEs comes off today
The second forum of the Citi Business Festival 2023 will be held today, Tuesday, June 13, 2023, on the topic, ‘Building Resilient SMEs.’ The one-hour 30 minutes in-depth conversation will focus on how to build successful and resilient SMEs even in difficult economic times. It will be live on Citi TV at 11 am. The panel will…
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Ecobank Ghana PLC records 40.3% revenue growth in 2022
ECOBANK Ghana PLC has despite the shocks of the Domestic Debt Exchange Programme and the general decline of the Ghanaian economy, the bank managed to increase its total revenue for 2022 by 40.3% to 2.97 billion GHC. Ecobank Ghana PLC explains that this growth was driven by mainly increases in net interest income, as well…
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Citi Business Festival 2023 enters week two; focuses on building resilient SMEs
The Citi Business Festival 2023 will continue this week as it enters its second leg. Conversations will center on Small and Medium Scale Enterprises (SMEs). SMEs make up over 80% of Ghanaian businesses, thus this week’s on-air radio series and TV forum aim at deliberating on how to build successful and resilient SMEs even in difficult…
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Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula
The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, has announced that Mobile Network Operators (MNOs) are working with the Bank of Ghana to facilitate the retrieval of funds for individuals whose monies are locked up in mobile money accounts. Numerous subscribers have voiced their concerns regarding the inability to access their funds on mobile money…
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Update your records or have your names expunged – ORC tells businesses
Businesses entities and other professional bodies risk having their details expunged from the National Register if they fail to update their records with the Office of the Registrar of Companies (ORC). This, the ORC explains has become necessary as the new office was hived from the Registrar General’s Department. Jemima Maama Oware, the Registrar of Companies…
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Ghana is the best destination for investment in West Africa – Bawumia
The Vice President, Dr. Mahamudu Bawumia, has stated that despite the existing economic challenges, Ghana remains the most favourable investment destination in the West African Sub-region. In his opinion, the $3 billion support received from the International Monetary Fund (IMF) will contribute to the stabilization of the Ghanaian economy. Dr. Bawumia expressed confidence that investors…
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African leaders urged to push for electronic cars over combustible automobiles
Players within the Africa energy space have criticized the various governments in the sub-region for allowing the establishment of combustible automobile industries on the continent. They argue, among other things, that investments in the automobile industry should focus on electric vehicles (EVs) to mitigate the negative impacts of fossil fuel use. Dr. Ferdinand Tornyie, a…