Category: Business
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Ghana Standards Authority closes down two Chinese plastic companies
The Ghana Standards Authority (GSA) has shut down two plastic producing companies which are owned by some Chinese nationals. The companies which were shut down after a swoop exercise by the GSA failed to meet regulatory standards. The factories which are both operating without the required license are located at Sakaman near Dansoman. The GSA…
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Managing Director of CAL Bank to leave post by the end of 2019
The Managing Director of Cal Bank Limited Frank Adu Jnr, is confident his successor after he exits the bank by the end of this year, will be well equipped to succeed. Frank Adu Jnr, who was appointed Managing Director of the bank in the year 2000, has over 28 years of experience in the banking…
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Former CEO of MTN appointed as independent non-executive director by Stanchart Bank
Former CEO of MTN Ghana, Mr. Ebenezer Twum Asante has been appointed by Standard Chartered Bank Ghana, as an Independent Non-Executive Director of the Bank effective 2nd May, 2019. Mr. Ebenezer Twum Asante has over fifteen years progressive and diversified experience in leadership as an accomplished Senior Executive and Strategic Leader. He was appointed Vice…
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ENI announces new gas discovery in Ghana
ENI Ghana has announced that it has discovered more gas and condensate in Cape Three Points, offshore Ghana. According to the company, the well, drilled on the Akoma exploration prospect, proved an estimated volume of between 550 and 650 bcf of gas and 18-20 mmbbl of condensate. A statement from the company said the field…
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ITLOS case to blame for some dormant oil contracts – Alex Mould
Former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has blamed the number of dormant contracts Ghana has with some oil exploration companies on the protracted maritime dispute between Ghana and Ivory Coast. The Member of Parliament for Adansi Asokwa, K.T Hammond had earlier called on government to cancel some oil exploration contracts signed…
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EOCO, Special Prosecutor must stop corruption in oil & gas sector — COPEC
The Chamber of Petroleum Consumers (COPEC), has charged anti-corruption bodies such as the Economic and Organized Crime Office (EOCO) and the Special Prosecutor’s Office to apply more pressure in their fight against corruption especially in the oil and gas sector. The call is in line with recommendations made by the committee set up to investigate…
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Local manufacturers petition Trade Ministry over imminent collapse of Ghanaian companies
The Ministry of Trade and Industry has received petitions from various manufacturing companies calling for government’s intervention to avert an imminent collapse of some local companies due to competition from imported products. The groups, including Aluworks, Cement Manufacturers Association of Ghana, Steel Manufacturers Association of Ghana as well as Association of Biscuit Manufacturers want government…
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Alan Kyerematen defends incentives and waivers for 1D,1F projects
Minister of Trade and Industry Alan Kyerematen insists government should actually be doing more than it currently is, when it comes to incentives and tax waivers for companies under the One District, One Factory program. This follows the Minority in Parliament’s complaint that the lack of details on the tax waivers and incentives under the…
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GEPA targets $5.3 billion Non Traditional Exports by 2023
The Ghana Export Promotion Authority (GEPA) has set a target of 5.3 billion dollars to trade Non-Traditional Exports to foreign markets by 2023. According to GEPA, the target is realistic as they have put in measures to achieve it. GEPA seeks to rely on specific initiatives to achieve this objective, one of which is a…
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expressPay launches Visa on mobile to drive digital payments in Ghana
expressPay, a leading financial technology service provider has launched Visa on mobile – an innovative Visa electronic payment service. This will allow thousands of consumers and merchants to make and accept digital payments more conveniently. The Visa on mobile solution will allow consumers to simply scan a merchant QR code to make a payment. The…