Category: Business
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Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate
A global investment and research firm, Goldman Sachs, has predicted that the Bank of Ghana (BoG) will raise its policy rate by 200 basis points (bp) on Wednesday when it concludes an emergency Monetary Policy Committee (MPC) meeting called to respond to the current economic challenges. This is according to the Daily Graphic. The firm…
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MTN Ghana introduces voucher distribution denomination change to prevent price disparity
MTN Ghana has introduced an Electronic Voucher Distribution (EVD) Denomination Change to enable pre-paid customers who purchase airtime from retailers to receive the same value purchased. The EVD Denomination change initiative will prevent retailers from overcharging customers for purchasing electronic credit transfer. MTN customers can visit any EVD vendor (credit transfer agent) to purchase airtime…
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BoG, UG partner to improve research in Ghana’s financial sector
The financial sector is set to see a major boost as the Bank of Ghana and the University of Ghana have signed a partnership agreement to promote research and influence policy making in the country, The 3 million cedi funding will also support the establishment of the Chair in Finance and Economics at the university’s…
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BoG, EOCO deepen collaboration to build robust financial sector
As part of efforts to build a strong and robust financial sector, the Bank of Ghana and the Economic and Organised Crime Office, EOCO have signed an agreement strengthen the investigative operations of the EOCO. To this end, the Board of the Central Bank has approved a grant of ten million Ghana cedis which will…
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Cedi Depreciation: Government urged to enforce laws on pricing in dollars
The Executive Director of Danquah Institute, Dr. Antoinette Tsiboe Darko is calling on the appropriate authorities to speedily put in place measures to reduce the dollarisation in the economy. According to her, the pricing of goods and services in dollars is a structural defect which has worsen the economic challenges confronting the country. She compares…
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E-cedi will not affect MoMo business – Bank of Ghana
The Bank of Ghana has assured that its quest to implement the digital currency, also known as the e-cedi, will not disrupt or collapse the mobile money (MoMo) system. According to the regulator, the implementation will rather be a positive one in the MoMo value chain. Speaking at the MTN Momo Stakeholder Forum organised which…
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Coronation Insurance launches marine insurance e-portal for importers
Coronation Insurance Ghana Ltd, a leading insurance company offering a diverse range of services covering general and special risk businesses, has launched a special electronic portal to facilitate the purchase of marine insurance policies. The Coronation e-portal which is designed specifically for the purchases of various marine insurance products of the company is in line…
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Bank of Ghana to widen its scope on cryptocurrency
The Bank of Ghana has assured stakeholders of its preparedness to sanitize the digital space with respect to cryptocurrency. The Central Bank admits that in the initial stages of the new digital currency, there was a gap, however, the regulator has braced itself to make it cleaner while building public interest. Speaking at the MTN…
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Importers, Exporters Association calls for sympathy for Labianca following corruption claims
The Importers and Exporters Association has jumped to the defence of Labianca Company Limited after it was implicated in corruption-related activities. In a statement, it called for the criticism of Labianca to be measured because of its contribution to the economy. “Even though we do not condone any act of unhealthy business transactions by any…
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BoG Deputy Governor chairs advisory board of UG’s College of Humanities
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has been appointed as the Chairman of the Advisory Board of University of Ghana’s College of Humanities. The Vice-Chancellor of the University of Ghana, Prof. Nana Aba Appiah Amfo disclosed this when she inaugurated the 15-member Advisory Board of the College. At the…