Category: Business
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CEO of Eye Express receives special recognition award
The Chief Executive Officer (CEO) of Eye Express, Dr Naa Kowah A. Agyemfra, has been awarded the special recognition award, Practitioner of the Year, at the 2022 Ghana Business Standard Awards. The 2022 Ghana Business Standard Awards seeks to celebrate organizations committed to remarkable business standards in their sectors and industry leaders breaking barriers of…
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Bank of Ghana to clamp down on forex bureaus trading illegally
The Bank of Ghana has disclosed plans to begin closing down forex bureaus flouting the laws governing foreign exchange operations. This is part of efforts meant to stop all market practices fueling the cedi’s fast depreciation. The local currency has crossed the GH¢10 to US$1 mark on the retail market. A visit by Citi Business…
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Civil Aviation Authority bans Delta Air Lines’ plane from flying to Ghana
The Ghana Civil Aviation Authority has banned an aircraft with Delta Air Lines, with registration N195DN, from flying to Ghana. According to the Authority, the decision follows the failure of the company to investigate and address technical issues regarding the aircraft in question, which left several Accra-bound passengers, including Ghanaians, stranded at the JFK airport…
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BoG warns public against engaging services of 19 unlicensed loan providers
The Bank of Ghana has cautioned the public to desist from engaging the services of some 19 unlicensed entities engaged in the provision of loans to consumers. According to the Central Bank, the operations of the institutions are in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016. A statement, issued by the Central…
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VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana
Two leading actors in Ghana’s fruit and vegetable sector have joined forces to increase the production and supply of quality fruits and vegetables in Ghana and to boost exports to overseas destinations. The Vegetable Producers and Exporters Association of Ghana (VEPEAG) and the Ghana Association of Vegetable Exporters (GAVEX) have worked independently over the years…
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VADUG members resist implementation of Customs Amendment Act
The Vehicle and Asset Dealers Union of Ghana (VADUG) says it will resist all attempts by government to implement the Customs Amendment law 2020, as it has the potential of collapsing their business. The vehicle dealers lament that despite several engagements with the government to halt the implementation of the bill, government has announced its…
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Full Text: Monetary Policy Committee of BoG increases key rate to 22%
The Monetary Policy Committee (MPC), today held an extraordinary meeting to review recent developments in the economy and assess risks to the outlook. The Committee took note of the increase in inflation in the month of July and heightened pressures in foreign exchange market and deliberated on the underlying drivers. A summary of the assessment…
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Cost of credit to further go up as Bank of Ghana raises policy rate to 22%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 300 basis points to 22%. The increase in the key rate follows an emergency Monetary Policy Committee (MPC) meeting held by the Central Bank on August 17, 2022. It also comes at a time when the country is…
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BoG increases Monetary Policy Rate to 22% after crunch meeting
The Bank of Ghana has raised the Monetary Policy Rate by 300 basis points from 19 percent to 22 percent. The last change in the policy rate was in May 2022 and was maintained in July 2022. This development follows a Monetary Policy Committee meeting earlier on Wednesday because of Ghana’s recent economic challenges. The…
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AGI reiterates calls for the implementation of policies to support businesses
The Association of Ghana Industries, AGI, has reiterated calls for the introduction of deliberate policies and programmes to support industries or businesses. According to the AGI, this is one of the best ways that the country can overcome its current economic crisis. Speaking at the 5th Ghana Industrial Exhibition Summit in Accra, President of the…