Category: Business
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Invest in Tier-3 pension scheme – NBC Ghana Trust CEO
NBC Ghana Trust has charged Ghanaians to make a deliberate effort and invest in the Tier 3 pension scheme for a better future. Chief Executive Officer of NBC, a leading private pension scheme administrator, William Asiedu Yeboah has indicated that the surest way to a happy old age is to save towards retirement, hence, the…
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Mine workers wade into $259m tax waiver for Anglogold
The Ghana Mine Workers’ Union is cautioning against agreements that may impact adversely on the country’s mining sector and erode gains so far made. The concern follows the tax concession granted Anglogold Ashanti as it revamps its Obuasi mine. Parliament has approved 259 million dollars tax concession to the mining company. But according to the…
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British Airways heeds to demand for quality service in Ghana
British Airways has announced a series of changes to its Ghana operations which are aimed at improving its service delivery within the country. The airline company says the decision also follows the important nature of the Ghanaian market, the Accra-London routes. British Airways has received heavy backlash from its Ghanaian passengers for quite a number…
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MTN freezes account of ponzi scheme over GH¢11m default
The Financial Intelligence Centre (FIC) is expected to direct MTN on how it could disburse about eleven million cedis (GH¢11,000,000) to customers whose monies have been locked up in the company’s mobile money services. About thirty thousand (30,000) customers have had their monies locked up after being lured into a ponzi scheme operated by Savanna…
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BoG must use moral suasion to get interest rates down-Prof. Dordunoo
Economist, Prof Cletus Dordunoo has called on the Bank of Ghana(BoG) to use moral suasion to compel banks to reduce their interest rates to appreciable levels. According to him, the measures so far implemented by the Bank of Ghana such as the continuous reduction of the policy rate , and setting the Ghana Reference Rate…
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IMF team visits Ghana; rising debt high on agenda
The government is confident that the IMF should be satisfied with efforts to reduce the country’s rising debts even as the Fund’s team makes a visit to Ghana. The optimism follows a visit by an IMF team to Ghana as part of monitoring activities under the program. The latest review of Ghana’s performance under the…
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Minister pushes for increased funding for startups
The Minister for Business Development, Mohammed Awal, has directed managers of the Skills Development Fund (SDF) to prioritize startups in the disbursement of grants. The directive follows what the Minister describes as the over concentration of the fund managers on medium to large scale businesses. The Skills Development Fund, is a government initiative aimed at…
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Analyst backs BoG’s forced retrieval of unpaid Eximbank loans
Some Financial Analysts have lauded moves by the Central Bank to deduct money from commercial banks whose accounts were used to assess loans from the EXIM Bank. The decision follows Exim Bank’s inability to recover credit facilities channeled through them to the commercial banks for on-lending to customers. But Citi Business News understands most of the customers…
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‘Wholesale’ banking licenses injurious to industry – Nana Otuo
Banking Consultant, Nana Otuo Acheampong has implored Savings and Loans companies to exercise restraint in their quest to operate as banks as the implications could be dire. The Ghana Association of Savings and Loans Companies earlier warned that unfavorable conditions in the industry is compelling most of their members to pursue universal banking status. The…
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Gov’t to introduce new tax measures in July
The Ministry of Finance has hinted that government may introduce some new tax measures in addition to some social interventions to shore up the revenue of the country during the presentation of the mid-year budget review next month. Even though the ministry did not state the kind tax measures it may be introducing, it however…