Category: Featured
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BOG moves to tackle climate risk financing
The Bank of Ghana (BOG) in its quest to strengthen the financial sector has taken steps aimed at mitigating the impact of climate risk in the books of financial institutions. “The issue of climate risk is increasingly becoming a material risk, especially for institutions exposed to vulnerable sectors of the economy” says Governor. Dr. Ernest…
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Govt must urgently address encroachment of cocoa farms by illegal miners – GAWU
The Ghana Agriculture Worker Union (GAWU) is urging the government to urgently address the encroachment and destruction of cocoa farmlands by illegal miners. GAWU maintains that although the 63.6% upward adjustment of the farm gate price of cocoa is welcome, the major issue plaguing the sector is illegal mining. In an interview with Citi Business…
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African Union to launch regional credit rating agency in 2024
The African Union (AU) has announced plans to establish a new African credit rating agency in 2024. This initiative aims to address the AU’s concerns regarding what it perceives as biased assessments of countries on the continent by major global rating agencies, namely Moody’s, Fitch, and S&P Global Ratings. Misheck Mutize, the lead expert for…
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New study reveals alarming food access disparity affecting 650 million Africans
In a stark revelation, the 2022 Africa Agriculture Status Report (AASR23) has brought to light a dire situation where approximately 650 million people, constituting 50 percent of Africa’s population, lack adequate economic or physical access to food. This significant disparity in food access has raised serious concerns and highlights the urgent need to address challenges…
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Businesses cited for non-compliance with VAT regulations
The AH Hotel in East Legon has been found to be in violation of the country’s Value Added Tax (VAT) regulations. An inspection by the domestic tax compliance taskforce of the Ghana Revenue Authority (GRA) on Tuesday revealed that the hotel does not issue VAT receipts to its customers. The meeting with the hotel’s management…
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COCOBOD to offer cash prizes to eradicate cocoa smuggling
The Ghana Cocoa Board (COCOBOD) has announced plans to offer cash prizes to persons who volunteer information for the arrest of individuals involved in the smuggling of cocoa. This forms part of its key strategies to deal with the prevalence of the menace after 150,000 metric tonnes of cocoa were smuggled out of the country…
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Joe Jackson cautions govt against borrowing from T-bills market at high rates
The Director of Business Operations at Dalex Finance, Joe Jackson is cautioning both government and investors to be cognizant of the implication of high-interest rates on the government’s treasury bills. This he explains could flaw government gains in trying to bring the country’s debt to sustainable levels. The government surpassed its auction target last week…
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Global food price index declines in August
Strong supply conditions push international commodity quotations lower except for rice and sugar International food commodity prices declined in August, led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations (FAO) has reported. The FAO Food Price Index, which tracks monthly changes in the international prices of globally-traded…
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Guinness Ghana delivers best year performance despite economic challenges
Leading beverage company, Guinness Ghana, has posted its strongest performance in a financial year since it was set up, 63 years ago. Speaking to investors during the Facts Behind the Figures event organised in conjunction with the Ghana Stock Exchange, Managing Director, Helene Weesie stressed that factors such as inflation, consistent input costs increase, and…
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Menzgold customers appeal to Akufo-Addo for financial bailout
The Coalition of Aggrieved Customers of Menzgold (CACM) has appealed to President Nana Akufo-Addo to provide them with a financial bailout as they await the court hearing of the chief executive officer of the defunct gold trading company, Nana Appiah Mensah, on September 19, 2023. The group has already revealed its intention to hold a…