Category: Business
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PIAC urges District Assemblies to ensure effective utilization of petroleum revenues
The Public Interest and Accountability Committee (PIAC), the statutory body with oversight responsibility of the management and use of petroleum revenues has urged managers of the District Assemblies Common Fund (DACF) to prudently manage revenues allocated to them from the Annual Budget Funding Amount (ABFA). The DACF has received more than GH¢32,380,403.91 from the ABFA…
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Eximbank commits $10 million to sustain Ghana’s largest yam exporter position
The Ghana EximBank is set to commit 10 million dollars to the sector to sustain Ghana’s position as the world’s largest exporter of yam. Speaking to the media on the sidelines of a stakeholder forum on yam exports, Chief Executive Officer of the Ghana EximBank, Lawrence Agyinsam, stated that the amount his outfit is committing…
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Minority, business community react to Ken Ofori Atta’s Midyear budget review
After the Presentation of the Midyear budget review by the Finance minister, Ken Ofori Atta, in parliament yesterday, the minority in parliament and members of the business community have been reacting to portions of the captured policies. This comes at a time when the government is making efforts to get the economy back on track…
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Ghana Exim Bank Deputy CEO meets management of Winas International Foods
Following her participation in the maiden edition of Expo Ghana 2022, a business forum and special exhibition of Made-In-Ghana products recently held in London, United Kingdom, the Deputy Chief Executive Officer of Ghana Exim Bank (GEXIM), responsible for Banking and Business, Rosemary Beryl Archer, has met with management of Wanis International Foods. The meeting took…
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Bank of Ghana maintains policy rate at 19%
In its quest to ensure macroeconomic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 19 percent. This is the first time the Central Bank has maintained the policy rate this year, after increasing it twice by 200 basis points or more. The rate, which is of keen…
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Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in June; 78.3% of GDP
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at June 2022, at USS 54.4 billion or GH¢393.4 billion. In Dollar terms, the debt dropped by about $4 billion in the first 6 months of the year, from $58.6. billion in December 2021 to $54.4 billion at half year,…
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Establishment of ORC will further boost ease of doing business – Akufo-Addo
Government’s efforts to create an enabling environment for businesses to thrive has been augmented by the establishment of the Office of the Registrar of Companies, ORC. This is according to President Akufo-Addo. Speaking at the launch of the newly established Office of the Registrar of Companies (ORC) in Accra, President Akufo – Addo said the…
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Mohinani Group to open first bottle-bottle PET plant in Ghana
Parent company of Poly Tanks (Gh) Ltd, Mohinani Group, is set to invest over $16 million to open Ghana’s first bottle to bottle recycling plant to supply food grade rPET (recycled polyethylene terephthalate) of European standards. According to the Group, the investment is in line with the company’s commitment to meet both the Group and…
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Producer Price Inflation rises again by 4.7% to hit 38% in June
Producer Price Inflation continues to go up as latest data from the Ghana Statistical Service indicates that the average cost of inputs received by domestic producers for the production of their goods and services for the month of June rose by 38 percent. This rate indicates that between June 2021 and June 2022 (year-on-year), the…
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New GNPC CEO leads delegation to Appo Energy conference in Abuja
The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh-Danquah, is today leading a high-powered delegation to a two-day petroleum conference of Chief Executive Officers (CEO’s) of National Oil Companies (NOC’s) of African Petroleum Producers’ Organisation (APPO) in Abuja, Nigeria. The African Petroleum Producers Organisation (APPO) is a 16-member intergovernmental energy organisation…