Category: Business
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BoG withdraws FX support for imports of rice, toothpicks, others
The Bank of Ghana has revealed that it will no longer provide FX support for some food items imported into the country. Some of the items include rice, vegetable oil, toothpicks, pasta, fruit juice, bottled water, ceramics and tiles. A message from the Central Bank to banks stated that: “in accordance with the president’s directive,…
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GSE tightens rules on green bonds
The Ghana Stock Exchange (GSE), in collaboration with the Securities and Exchange Commission (SEC), has launched new rules to guide the listing and trading of green and sustainable bonds on the market. Dubbed the Green and Sustainable Bond Rules, the launch of the new guidelines formed part of activities to mark the 32nd anniversary of…
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Bank of Ghana wins ICSA’s best fintech policy of the year award
The Bank of Ghana has been presented with the “Best FinTech Policy of the Year” award, under the Innovation and Excellence Awards category at the Connected Banking West Africa Summit, 2022. The award is in recognition of the various policies of the Bank of Ghana that have fostered digital financial services, accelerated financial inclusion and…
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Producer Price Inflation rises sharply — Now at 65.25% in October
THE Producer Price Inflation (PPI) which measures the average change over time in the selling prices of goods and services as received by domestic producers shot up to 65.2 per cent in October. This was up from the 45.6 per cent recorded in September and clearly signals what is to be expected of consumer inflation…
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Trade bodies advocate policy on profit retention by foreigners
Trade bodies in the country have called for what they describe as “a profit retention policy” to regulate how much profit foreign investors repatriate to their home countries. That, they believe, is one of the measures that is needed to be taken to stabilize the cedi against the major foreign trading currencies while re-energizing the…
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1st Deputy Governor inducted as fellow into Ghana Academy of Arts and Sciences
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari has been inducted as a Fellow into the prestigious Ghana Academy of Arts and Sciences(GAAS). The ceremony was held on Tuesday, 15th November 2022, in the Auditorium of the Academy in Accra. The Vice President of the Republic of Ghana, His Excellency…
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Banks urged to leverage economic crisis
The current global economic crisis presents banks the opportunity to innovate, accelerate and deepen their much needed transformation, Finance and Strategy Consultant, Professor Noel Tagoe, has said. He said while crisis destroyed bad companies, good companies survived them, and great companies were improved by them. At the 26th annual banking conference organised by the Chartered…
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Private takeover of Saglemi project ‘a good call’ – GREDA Executive Secretary
The Executive Secretary of the Ghana Real Estate Developers Association (GREDA) Samuel Amegayibor, has charged its members or any private developer who expresses interest in the Saglemi Housing project to sort out all legal issues surrounding the project. His comments come on the back of the government’s intention to sell the 1,500 housing units to…
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Accountants urged to proffer solutions to mitigate impact of COVID-19 on businesses
As part of efforts to mitigate the impact of Covid-19 and high inflationary rates on businesses, chartered accountants have been challenged to proffer solutions for their respective organizations. The Association of Chartered Certified Accountants (ACCA) believes that if practitioners are able to embrace innovative ways, businesses would not bear the brunt of the current economic…
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ATU and ICT ministers underscore importance of a digital economy for Africa’s resilient growth
The African Telecommunications Union (ATU) held a ministerial forum on Day 0 of AfricaCom 2022, bringing together participants from Malawi, Namibia, Uganda, and Zambia. The session which was under the sponsorship of Huawei focused on methods to engineer a new sense of hope for Africa’s digital economic journey under the theme ‘Rise Stronger with Digital…