Category: Business
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Newmont Ghana is now Newmont Goldcorp Ghana 
Ghana’s leading gold producer, Newmont Ghana, has welcomed the successful completion of the transaction creating the world’s leading gold company, Newmont Goldcorp, and looking forward to a safe and orderly integration. The transaction closed on 18 April 2018, and the Company’s business in Ghana is now called Newmont Goldcorp Ghana. “Newmont Goldcorp features an unmatched…
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Allow TOR to refine Ghana’s crude oil — TOR MD
The country’s refinery must be allowed to refine portions of Ghana’s crude oil for the local market instead of selling all on the international market, Isaac Osei, Managing Director of the Tema Oil Refinery(TOR) has said. Mr. Osei noted that at the moment, Ghana National Petroleum Corporation (GNPC) sells all of the country’s oil on…
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BoG’s new regulations will help grow local banks—CAL Bank
The Executive Director of CAL Bank, Philip Owiredu has stated that the implementation of new rules by the Bank of Ghana(BoG) will help banks, especially local banks to grow. He maintained that the implementation of the Basel II and III regulations are a step in the right direction that will enhance corporate governance as well…
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Private sector contributes 97% of banks’ NPLs in 2019 first quarter
The first quarter banking sector report published by the Bank of Ghana has shown that the private sector accounted for 96.9% of the total Non-Performing Loans (NPLs) within the industry. By this, the share of loans gone bad within the banking sector not attributable to the private sector represented 3.1%. According to the banking sector…
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Banks’ paid-up capital shows 74.8% increase after BoG reforms
Data from the Bank of Ghana has shown strong growth in bank’s total paid-up capital — rising to GHS9 billion as at end of February 2019. The March 2019 Banking Sector Report revealed that last year’s increase in minimum capital requirement saw an increase in banks’ paid-up capital from GHS5.05 billion as at February 2018…
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Standard Chartered Africa and Middle East Regional Head of HR, Learning & Talent holds mentoring session for young women
The Regional Head of HR, Talent and Learning for Africa and Middle East (AME) at Standard Chartered, Mrs. Millicent Clarke, has held an interactive mentoring session with some young women from Mentoring Women Ghana, talking through what it takes to transition from graduation to being an effective leader in the workplace, as part of the…
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Railway Authority signs US$500 million agreement to develop 100km western railway line
An agreement has been signed between the Ghana Railway Development Authority (GRDA) and China Railway Wuju Group Corporation (CRWG), for the continuation of the development of a new Standard Gauge Western line. The US$500 million projects would have both passenger and freight services. Under the agreement, the Manso through Tarkwa to Dunkwa section of the…
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China to build US$20 billion ‘Industrial City’ in Central Region
ONEGO, an Investment Consulting Firm based in China, has begun negotiations with some key stakeholders to establish an ultra-modern industrial city in the Central Region. The city would be built on 10,000 to 25,000 acres of coastal lands with the capacity of accommodating more than 100 different manufacturing enterprises. It would have a minimum capacity…
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Biscuit producers want prompt government’s response to petition
Biscuit Manufacturers in the country are calling on the government to speed up with a response to their petition. The petition was sent to address unfavorable competition between local and imported biscuit. The local manufacturers complain that the development is hindering their expansion thus are not able to employ more people among others. Of the…
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Registrar General wins case against journalist at NMC
The National Media Commission (NMC) has directed an investigative journalist and Editor of the Awake newspaper, Emmanuel Efo Kosi Senyo to retract and apologise to the Registrar General, Jemima Oware following his publication of a story which allegedly cited the Registrar General of colluding in the allocation of dividends to some beneficiaries of a Will.…