Category: Business
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Government partners private companies to mine abandoned iron ore in Oti Region
Ghana’s iron ore and steel industries are set to receive significant boosts following the initiative by the government, and some potential investors to mine an abandoned ore reserve in the Oti Region. The reserve, which holds about 500 million tonnes of iron ore, will boost steel production in the country and also provide several direct…
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Manufacture of petroleum products push PPI to 31.2% in April
Recent data from the Ghana Statistical Service show that producer price inflation, the average price of goods and services received by domestic producers for their production activities, for the month of April has risen by 1.1% to a record 31.2%. This increment was mainly influenced by the manufacturing sub-sector, which constitutes more than two-thirds of…
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Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative
As part of efforts to bring some relief to cocoa farmers in Nigeria and help them achieve a living income, the world’s fourth leading producer of cocoa has begun processes to join the Ghana-Côte d’Ivoire Initiative. The Ghana-Côte d’Ivoire Initiative was promulgated by the two leading producers of cocoa in the world, Ghana and Côte…
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Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD
The Managing Director of FBNBank Ghana, Mr. Victor Yaw Asante, has reiterated the commitment of banks in the country to continuously innovate to keep up with the pace of changing customer behaviour and expectations. According to him, this will ensure that the industry remains relevant and competitive, especially in product development, personalization and customer service…
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6th CEO’s Summit pushes for ease of doing business law to boost economic growth
The Ghana CEO’s Summit is urging government to take a serious look at addressing the bottlenecks embedded in the country’s civil service and craft a framework that will streamline systems for a more efficient delivery of government services. The CEO’S Summit believes that easing business processes like tax filing, business registration and the likes will…
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Policy rate likely to be increased to tame inflation – Databank CEO
The Monetary Policy Committee (MPC) of the Bank of Ghana will from today Wednesday, 18th May 2022 to Friday, 20th May 2022 hold its 106th Regular Meetings to review developments in the economy. The MPC’s regular meetings over the next three days will conclude with an announcement of a decision to either maintain, reduce or…
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Banking Consultant bemoans continuous charging of unfair fees by banks
Banking Consultant, Nana Otuo Acheampong, has bemoaned the continuous charging of some fees by some banks in the country contrary to directives from the Bank of Ghana. In June 2021, the Central Bank warned commercial banks and Specialised Deposit-Taking Institutions in Ghana to abolish some unfair charges in the banking sector. The directive was reiterated…
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Chamber of IPPs disappointed over ECG’s tariff increase request
The Chamber of Independent Power Producers Distributors and Bulk Consumers (CIPDiB), has expressed disappointment at the call for an increment in electricity tariffs by the Electricity Company of Ghana (ECG). According to the Chamber, the government has engaged the IPPs to reduce their capacity charges or tariffs to the ECG, to make the price of…
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A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR
As food inflation in the country continues to rise, further pushing national inflation to unprecedented levels, the Council for Scientific and Industrial Research (CSIR) is urging government to invest in a comprehensive storage strategy to deal with post-harvest losses in the country. This the CSIR believes will eventually make food available all-year round which will…
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NPA allays fears of fuel scarcity in the country
Despite the earlier scare of a likely scarcity of fuel in the country, the National Petroleum Authority is confident that there is enough of the commodity in Ghana. Head of Economic Regulation at the National Petroleum Authority, Abass Ibrahim Tasunti reassured the public that there was sufficient fuel in the country and hence no need…