Category: Business
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More oil cash could help gov’t meet 2022 revenue target – Seth Terkper
Former Finance Minister, Seth Terkper says a sustained high price of crude oil on the international market could help government in raking in much-needed revenue for this year. From a revenue target of GH¢72 billion in 2021, government has set for itself a new target of GH¢ 100 billion for 2022, and is hoping the…
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We’re working to ensure successful implementation of E-levy – Telcos Chamber
The Ghana Chamber of Telecommunications, says despite the tough demands that come with the reconfiguration of the systems of Electronic Money Issuers (EMI’s) in Ghana, for the implementation of the Electronic transfer Levy (E-Levy), its members are committed to making sure the implementation comes off successfully. The implementation of the E-levy, which is expected to…
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Ghana’s oil revenue up 17.5% despite decrease in production – PIAC
Data from the Public Interest and Accountability Committee (PIAC) has disclosed that Ghana’s revenue from oil production saw an increase to a record US$783.33 million in the year ending 2021. This represents a 17.5 percent increase in revenue from the US$666.39 million recorded in 2020. According to PIAC, this increase is due to higher crude…
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More partnerships needed to grow pharmaceutical industry – CalBank MD
Managing Director of CalBank PLC, Philip Owiredu is advocating for more partnerships and investments in the development of critical drugs and improve the logistics necessary to boost the local production and supply of pharmaceuticals in the country. According to him, this will help curb the over-reliance on imported drugs which has led to the decline…
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ADB Bank’s profit jumps by almost 25% in 2021 to hit GH¢ 81.6 million
The Agricultural Development Bank, ADB Bank has continued its trend of profitability in the year 2021, after seeing its profit before tax rose by almost 30% to hit GH¢126 million at the end of last year. Strong growth in the banks’ net interest income and net fees and commission income among others, contributed to its…
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Our investment in security systems will minimize fraud cases – GAB
The Ghana Association of Banks says its members have invested heavily in infrastructure to help prevent and detect fraudulent activities in their systems. President of the Association, John Awuah stated that “The good thing is as a community of banks the level of investment that we have undertaken to be able to stop these fraudsters…
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Access Bank’s profits before tax hits half a billion Cedis in 2021; profit after tax increases by 33.5%
Leading local Bank Access Bank Ghana PLC has seen a significant jump in its profits for the year 2021. The bank which recorded a profit before income tax of almost GHC 360 million in 2020, saw that metric jump up to a little over GHC 500 million in 2021, representing a growth of about 41%…
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WAPCo presents start-up tools and scholarships to students in host communities
The West African Gas Pipeline Company Limited (WAPCo) has presented start-up tools to graduates of its Community Youth Enterprise Scheme (CYES) in Shama District of the Western Region and Tema Manhean/Kpone in the Greater Accra Region. The company also presented scholarship certificates to the eighth batch of its scholarship awardees under its Scholarship Scheme. WAPCo…
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Construction giant WBHO appoints Ghana country director
The global construction giant WBHO has appointed Senyo M. Adjabeng as it’s Country Director for Ghana. Prior to his appointment, Mr. Adjabeng was the Human Resources Lead for the business in Ghana. He brings 20 years of experience working in various executive positions and sectors in Ghana including banking, consulting, judicial services and construction. Mr.…
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Go beyond the caution; enforce laws against pricing in foreign currencies – Forex analyst to BoG
A Forex Analyst is warning that the Bank of Ghana’s notice of caution to persons pricing goods and services in foreign currencies, will come to naught, if the Central Bank fails to ensure that the laws concerning the practice are enforced. According to the apex bank, such practices breach the Foreign Exchange Act, 2006 (Act…