Category: Business
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Prioritise liquidity to survive challenges – Absa Bank tells SMEs
Absa Bank has implored small and medium-scale enterprises (SMEs) to adjust their operations and prioritise liquidity to survive the current economic challenges. The country has made good progress in restructuring its domestic debts under an exchange programme that was concluded earlier this month. Negotiations for an IMF bailout programme are also underway. However, until that…
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Pharmaceutical Society of Ghana woos India investors
The Pharmaceutical Society of Ghana is urging its Indian counterparts to forge deepened trade relations with the industries local to establish more manufacturing companies across the country. The society explains that Indian is far advanced in the manufacturing of pharmaceutical products thus a shared technology will boost the capacity of the indigenous companies. Speaking at…
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Fuel prices likely to drop in March – COPEC
The Chamber of Petroleum Consumers (COPEC) has predicted that fuel prices are likely to see a decline in the first pricing window of March 2023. According to COPEC, prices of both petrol and diesel have all declined marginally within the period while crude price has also minimally dropped from $82.99/barrel to $82.48/barrel (-0.61%). With the…
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Gold Fields production drops by 4% in 2022
Production for Goldfields Ghana dropped by four percent to 838,000 ounces (koz) in 2022 from 871, 000 (koz) in 2021, mainly driven by decreased production at the Damang Mine due to completion of the Damang pit cutback as well as lower production at Asanko. The Company in a press release indicated that all-in costs across…
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Appolonia City earmarks USD10 million for infrastructure development.
Appolonia City, Greater Accra’s newest futuristic city located 20km east of Accra in the Oyibi-Afienya enclave is expected to see an infrastructural facelift estimated at an amount of USD10 million in phases over the next 3 years. Appolonia City is a project by Rendeavour, Africa’s largest private city developer with over 30,000 acres of visionary…
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Third World Network Africa urges Africans to be strategic about AfCFTA
Third World Network Africa, a research and advocacy organization is urging African leaders to develop strategies that will move the continent away from the challenges that confront it by leveraging on the African Continental Free Trade Area. The advocacy group explains that the lack of political will to execute the already discussed policies has delayed…
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Ecobank Kenya appoints Josephine Anan-Ankomah as new Managing Director
Ecobank Transnational Incorporated (ETI) has appointed Ghanaian career banker, Mrs. Josephine Anan-Ankomah as the Regional Executive, Central, Eastern and Southern African (CESA) and Managing Director, Ecobank Kenya. Her appointment has since received clearance from the Central Bank of Kenya. Mrs. Anan-Ankomah leaves her role as Ecobank Group Executive, Commercial Banking. She has served the Bank…
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We’ll keenly monitor every step in ‘Gold4Oil’ chain – Opoku Prempeh assures
Energy Minister, Dr Matthew Opoku Prempeh has assured that his ministry will keenly monitor every step in the Gold for Oil programme value chain from the ship that brings the oil, through delivery to the BDCs, to the OMCs and to the pumps. This, according to Dr Opoku Prempeh will ensure that the purposes for…
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Residential users to pay 100% instead of 85% for electricity consumed – PURC
The Public Utilities Regulatory Commission (PURC) has stated that residential users of electricity are likely to pay the full cost of services provided by the utility provider by the end of the year. This comes on the back of a recent upward adjustment of tariffs by the utility regulator which saw an increase in electricity…
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PAC commends GIFEC for its prudence and strong liquidity position
Ghana Investment Fund for Electronic Communications (GIFEC), an Implementing Agency of the Ministry of Communications and Digitalisation responsible for programmes to close the Digital Divide, has been commended for its strong operational and financial position by a member of the Public Accounts Committee (PAC) of Parliament – Isaac Yaw Opoku – Member of Parliament for…