Category: Business
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BoG must give special forex concessions to fuel importers to mitigate price hikes – COPEC
The Chamber of Petroleum Consumers (COPEC) is proposing that the Bank of Ghana (BoG) should give concessionary dollar rates to fuel importers in Ghana. COPEC believes this will go a long way to mitigate the constant hike in the price of fuel in the country. Executive Secretary of COPEC, Duncan Amoah stated that “we have…
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Ghana lost about GH¢200 million in sales in 2020 due to COVID-19 – Study
Ghana recorded about GH¢200 million dip in sales, representing 61 percent from May to September 2020 as a result of COVID-19, a joint study conducted by the UNDP, World Bank and Ghana Statistical Service and a business tracker study has revealed. Professor Kwesi Amponsah-Tawiah, from the University of Ghana Business School, made this known, during the…
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Dr. Bawumia tasks Banks to develop specific E-cedi products to meet consumer tastes
Vice President Dr. Mahamudu Bawumia has tasked the banking community to be proactive in developing specific digital products for different types of customers with the introduction of the e-cedi. Speaking at the 25th National Banking Conference under the theme, “The Digital Economy of Ghana, the Strategic Role of the Banking Industry” Dr. Bawumia said, the…
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Bank of Ghana raises Monetary Policy Rate to 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 100 basis points to 14.5% percent. This is the first time the Central Bank has increased the key rate since May this year, after being maintained at 13.5% for two consecutive times. The rate, which is of keen…
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Chartered Institute of Bankers urged to introduce digital courses
The Chartered Institute of Bankers, Ghana is being charged to ramp up efforts in offering digital skills training to its members as Ghana moves into a cash-lite economy. This call comes at a time where stakeholders in the banking sector are increasingly instituting digital services in order not to be left out of the digitalization…
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Government must address infrastructural concerns to boost domestic tourism – Hotels association
The Ghana Hotels Association says efforts must be made to address the infrastructure deficits across the country to chalk major successes with the government’s domestic tourism drive. According to the Association, poor road networks, and unstable phone connectivity among others in parts of the country discourage people from patronizing tourist attractions in such areas. President…
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Volta Fair 2021: Senyo Hosi urges youth to consider venturing into agro processing
Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors Senyo Hosi has urged the youth of the Volta Region to consider investing in other parts of the agricultural value-chain instead of just focusing on traditional farming. According to the businessman, who is also the founder of an indigenous agric social business in the…
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Most MSMEs unwilling to pay more taxes even for better government services – CDD report
The majority of Medium, Small and Micro Enterprise (MSME) owners in Ghana are unwilling to pay more taxes even if it means benefiting from more improved government services. This is according to the report of a survey conducted by the Ghana Center for Democratic Development (CDD-Ghana). The report titled ‘Access to Justice and Public Services,…
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Government’s e-levy policy ill-timed – Telecoms chamber
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Ken Ashigbey, has said that the introduction of the 1.75% levy on electronic financial transactions is ill-timed. He said the chamber was not consulted by the government on the proposal before the announcement was made in Parliament on Wednesday, November 17, 2021. “When we got…
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GIPC launches 2nd edition of Taste of Ghana
The Ghana Investment Promotion Center (GIPC) has launched the second edition of Taste of Ghana, purposed to showcase and celebrate Ghana’s unique culture in grand style. The launch, which took place at the Centre’s premises, served as the official outdooring for the main event dubbed ‘Taste of Ghana 2.0”, scheduled to take place on 27th…