Category: Business
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Petroleum Commission prioritises technology use for upstream operators
Chief Executive Officer of the Petroleum Commission, Egbert Faibille has urged various companies operating within the petroleum sector to use technology in building the industry. This he believes will promote the upstream space and improve revenue for the sector and country as a whole. He made the remarks at an engagement with some investors in…
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Banks’ recapitalization impacts dividend payment to SSNIT
The Social Security and National Insurance Trust (SSNIT) has disclosed that most banks it is a shareholder in, have been unable to pay dividends for last year due to the increase in the minimum capital requirement. The Director General of SSNIT, Dr. John Ofori Tenkorang explains to Citi Business News this has also affected the…
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EximBank Board charged to boost SME growth
Finance Minister Hon. Ken Ofori Atta has sworn in three members of the Ghana Exim Bank Board with a call on the 9-member Board to prudently utilize the financial resources allocated to them. He believes this will enable the government achieve its target of implementing the IDIF Project. Mr. Ofori Atta said the Bank must…
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BoG keeps final 2018 policy rate at 17%
The Bank of Ghana has maintained the policy rate at 17 percent. This was after 85th regular meeting of the Monetary Policy Committee (MPC) of the central bank met for the final time for 2018. The policy rate is the rate at which the Bank of Ghana lends to commercial bank. The policy rate has…
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Visa, leading banks bring mobile payments to Ghana
Visa, the world’s leader in digital payments, in partnership with leading Ghanaian banks, has announced the launch of Visa on mobile, its innovative mobile payment service in Ghana. From today, the partnership commences with four Ghanaian banks who have either enabled Visa on mobile on their mobile banking applications and/or have acquired merchants to be…
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Cedi records poorest performance in November 2018
The local currency, the cedi, witnessed its weakest performance in November 2018 compared to the same period in 2017; a Bank of Ghana report has shown. The cedi, in relation to the dollar, recorded a depreciation of 7.82 percent as at Thursday, November 22, 2018. This was after a two month downward performance of the…
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Compromising on rules could collapse financial sector—Senior Minister
Senior Minister Yaw Osafo Maafo has warned that Ghana’s financial system could face an imminent collapse if industry personalities continue to compromise the rules and regulations put in place to protect the system. He made the comments at the Securities and Exchange Commission’s(SEC) 20th anniversary Dinner and Awards Night here in Accra. The Securities and…
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Ghana’s debt increases to 170.8 billion cedis – BoG
Ghana’s total debt stock has reached 170.8 billion cedis as at September 2018. A summary of economic figures released by the Bank of Ghana shows that between July and August 2018, the country added 11.4 billion cedis to its debt stock. But calculating this as a percentage of GDP, Ghana’s debt represents 57.2 percent. The…
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GRA must open more offices to make TIN registration easier—Consultant
Tax consultant Abdallah Ali Nakyea has called on the Ghana Revenue Authority to open more offices across the country to help speed up the issuance of Tax Identification Numbers (TIN) and also help with effective revenue mobilization. His comments follow several complaints by some Ghanaians in their attempt to secure their TIN. While some say they’ve been…
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MTN wins 17th edition of Ghana Club 100 Awards
Scancom Ghana Limited, owners of MTN has been adjudged the best company at the 17th edition of the Club 100 awards event. Ghana Oil Company, GOIL came second with Goldfields Mining Company placing third. The Club 100 Awards is a prestigious event that is used to acknowledge the hard work, growth and contribution of corporate…