Category: Business
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Chirano mines pays $13m dividend to government
Chirano Gold Mines Ltd has paid a 10% dividend to the government of Ghana worth 13 million dollars for the 2017 fiscal year. This the company attributes to its good performance for the year 2017. Presenting the cheque to the Ministry of Lands and Natural Resources, the Vice President and General Manager of Chirano Gold…
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‘We’ve saved Ghanaians from paying more for fuel’ – Amewu
The Minister for Energy, John Peter Amewu, believes that the numerous tax reductions announced by the Akufo-Addo government since it assumed office in 2017, have cushioned Ghanaians against the impact of the fuel price hikes. According to him, Ghanaians would have been paying eight percent more for fuel if the government had not reduced and…
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Producer Price Inflation drops to 7 percent
The Producer Price Inflation (PPI) for August has reduced to 7.0 percent. The rate indicates that between August 2017 and August 2018 the PPI decreased to 7.0 percent showing 1.2 percentage point drop. The PPI measures the average change over time in the prices for the production of goods and services. Addressing a press conference,…
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Turkish Airlines joins interested parties in new national carrier
Turkish Airlines has expressed interest in partnering the government of Ghana in the establishment of a national carrier. According to the Turkish Ambassador to Ghana, Nesrin Bayazit, Turkey has the capacity to provide the needed support to grow Ghana’s aviation industry. Ambassador Nesrin Bayazit made the disclosure when she paid a courtesy call on the…
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‘Walk the talk’ – Importers on revised FX calculation at ports
Importers are indifferent about the Vice President, Dr. Mahamudu Bawumia’s revelation of reviewing the date used in calculating the exchange rate for them at the ports. The Vice President stated earlier that government is in the process of reviewing the date after several complaints from importers and other business associations. The businesses have complained about…
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New incentives for automobiles as Nissan joins market
Vice President Dr. Mahamudu Bawumia has stated that government will ensure that both local and international automobile companies operating in Ghana, will be given equal incentives to enhance their operations. Following the announcement by the President that German automobile company, VW, will set up a plant in Ghana, local automobile company, Kantanka expressed concerns over…
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Cryptocurrency: Advocates push for swift laws by BoG
Cryptocurrency analysts are urging the Bank of Ghana to expedite processes to formulate laws to regulate their business. They want the regulator to step in to avert a possible controversy between it and patrons of the product. The increasing interest in the use of cryptocurrency has been met with mixed reactions considering the complex nature…
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Menzgold extends gold vault suspension
Gold dealership firm, Menzgold will not open to the public today [September 19, 2018] contrary to its earlier promise. Customers who hope to engage the firm on their gold dealership services will have to wait till September 28. Menzgold temporarily shut down following an impasse with the Securities and Exchange Commission, regulator of the capital…
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SEC approves Energy bank’s IPO to raise GH¢340m
The Securities and Exchange Commission (SEC) has approved for the Energy Commercial bank to issue an Initial Public Offering (IPO) to help it meet the minimum capital requirement for banks. The bank should resort to the investing public to raise 340 million cedis which represents about fifty percent of the company’s stake. Though SEC’s approval…
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Reduce impact of fuel price hikes on us – GPTRU to gov’t
The Ghana Private Road Transport Union (GPRTU), wants government’s intervention to reduce the impact of fuel price hikes on its members. The Union has however said it does not plan to increase transport fares. [contextly_sidebar id=”yKcSgXX4tBXBWmiLNuqJpqJFFDiNZDAQ”]The Union cannot increase fares in line with an agreement with the Ministry of Road and Transport. Checks by Citi…