Category: Business
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ADB resumes Saturday banking in 27 branches
The Agricultural Development Bank PLC (ADB), has resumed its Saturday Banking Services in twenty-seven (27) branches across the country. The selected Branches in the Greater Accra Region include Spintex, Madina, Tema Main, Dansoman, Kaneshie, Makola, Ridge, New Town, Nima, Ring Road Central (RRC), Teshie, Nungua, and Abeka Lapaz. Also in the Ashanti Region and Bono/Bono…
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Indigenous banks urged to leverage technology to reduce unbanked population – UMB CEO
Indigenous banks are being urged to leverage technology to reduce the number of unbanked Ghanaians in the system. According to the CEO of the Universal Merchant Bank Nana Dwemoh Benneh the time is right to tackle this long-standing issue within the financial sector. According to the World Bank’s Consultative Group to Assist the Poor (CGAP),…
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UMB is focused on building its SME portfolio and digital-first positioning – CEO
The Chief Executive Officer of the Universal Merchant Bank (UMB) Nana Dwemoh Benneh says the bank is focused on building a strong Small and Medium-Sized enterprises portfolio while making inroads into becoming one of the leading digital-first banks in the country. The remarks come as the bank celebrates its 50th anniversary. Universal Merchant Bank (UMB)…
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Deputy Trade Minister highlights need for domestic production of goods
A deputy Minister for Trade and Industry, Nana Ama Dokua Asiamah Adjei, has highlighted the need for Ghanaian traders to focus on domestic production of goods instead of relying heavily on imports. This comes after complaints by traders about how the depreciation of the cedi against the dollar, high rates charged at the ports, and…
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Ghana’s food security situation likely to worsen in coming months – Peasant Farmers
The Peasant Farmers Association of Ghana is warning that Ghana’s food security situation is likely to worsen if urgent action is not taken. Ghana declined from 78th position in 2016 to 82nd position in 2021 on the Global Food Security Index published by the Economist Intelligence Unit (EIU). The caution by the farmers’ association, comes…
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Telecommunications Chamber, BoG intensifying efforts to curb mobile money fraud – Dr. Ashigbey
The Ghana Chamber of Telecommunications says it is working extensively with the Bank of Ghana to implement multiple strategies, in a bid to clamp down on mobile money fraud, which has in recent times led to a massive loss of funds of some businesses and individuals. According to the World Bank, the rapid growth of…
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Government cannot heed calls to implement a fixed exchange rate- Banking Consultant
Banking Consultant, Nana Otuo Acheampong has spoken against the possibility of Ghana pegging its local currency against the dollar following calls by the Importers and Exporters Association of Ghana to do so. The local currency has witnessed significant depreciation against the US Dollar. It is currently selling for about GHC 7.80 at some forex bureaus.…
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Too much anxiety negatively impacting Cedi performance – Prof. Peter Quartey
Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey has cautioned against heightened anxiety around the local currency. According to him, too much anxiety will lead to speculation about the currency which could fuel further depreciation. The Cedi has depreciated significantly against its major trading currencies…
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Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant
Technology Consultant and Digital Lead of Pop Out, Maximus Ametorgoh says consumers in Ghana are likely to pay a little bit more for products purchased on E-commerce platforms as the Ghana Revenue Authority (GRA’s) prepares to introduce a non-resident E-commerce and Digital Service Registration Portal, to help with the taxation of e-commerce platforms operating in…
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Diesel prices may soon cross GH¢10 per liter, petrol GH¢9 – COPEC predicts
The Chamber of Petroleum Consumers Ghana (COPEC) has predicted that diesel may sell at over GH¢10 per litre while petrol will cross GH¢9 from March 16, 2022. COPEC attributed its prediction on the rising cost of crude on the international market and the cedi which is currently depreciating among major trading currencies. In a statement,…