Category: Featured
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Officials of Quick Credit, Marwako picked up for privacy breaches
Officials of three (3) companies have been picked up for questioning for allegedly breaching data protection laws. This was captured during the commencement of an enforcement exercise of data laws by the Data Protection Commission. The companies are Hisense Ghana Limited, Quick Loan and micro-Investments limited and Marwako Fast Food. Quick Credit Investment and Micro-Credit…
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BoG not mandated to report daily activities to Parliament – Kyei-Mensah-Bonsu
The Majority Leader, Osei Kyei-Mensah-Bonsu, has strongly criticized the Minority Leader, Dr Cassiel Ato Forson, for calling for the resignation of the governor of the Bank of Ghana (BoG) and his deputies amidst allegations of financial mismanagement. The Minority in Parliament is demanding the resignation of Dr Ernest Addison and his deputies, levelling grave allegations…
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Ghana pursues double taxation, bilateral investment treaties with Trinidad and Tobago
A delegation from the Ghana Investment Promotion Centre (GIPC), and the Ghana Export Promotion Authority (GEPA) have engaged authorities of Trinidad and Tobago about considering Double Taxation and Bilateral Investment treaties, to further enhance trade flow between the two nations. The talks were held, when the delegation met with representatives of Trinidad and Tobago’s Chamber…
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Cocoa farmers disappointed over discontinued road projects
A group calling itself the Concerned Farmers Association is complaining about plans by the Ghana Cocoa Board (COCOBOD) to discontinue its Cocoa Road construction program. COCOBOD announced that after the completion of ongoing projects, the institution will not embark on any further ventures in road construction because it does not form part of its core…
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Managing Director of TOR resigns
The Managing Director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson has resigned on health grounds, according to a letter sent to President Nana Akufo-Addo. Mr Hinson in his letter dated August 11, 2023, stated that he is unable to continue his role as the MD due to unforeseen health circumstances. “It has been…
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![The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]](https://citibusinessnews.com/wp-content/uploads/2023/08/Elikplim-Kwablah-Apetorgbor-512x375-1.jpg)
The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]
conoIn an era where energy is the lifeblood of progress, the role of independent power producers (IPPs) emerges as a beacon of innovation, resilience, and transformative change. As developing economies strive to carve a path toward prosperity and self-sufficiency, the significance of IPPs in bolstering energy security and driving economic growth cannot be overstated. This…
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Anti-LGBTQ+ bill could impact Ghana’s trade and investment opportunities – US Ambassador warns
The US Ambassador to Ghana, Virginia Palmer, has cautioned that the approval of the Anti-LGBTQ+ law might have repercussions on trade and investment within the nation. Ambassador Palmer emphasised that discriminatory legislation against LGBTQ+ individuals could tarnish Ghana’s reputation and discourage potential investors. Speaking in Accra, she remarked that the diverse communities contribute to Ghana’s…
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Tame inflation, GHS 60billion loss not excuse to shirk policy mandates – IMF tells BoG
The International Monetary Fund (IMF) has cautioned the Bank of Ghana against not fulfilling its policy mandate in the face of the loss it posted for the financial year ending 2022. According to the IMF, the Central Bank must despite the impairment ensure that inflation returns to the target of 8 percent. “The loss the…
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IMF justifies BoG’s GHS 60billion DDEP-induced loss
The International Monetary Fund (IMF) has backed the Bank of Ghana’s GHS 60 billion loss incurred in 2022. The Fund says the impairment which was brought on by the government’s Domestic Debt Exchange (DDE) was necessary to “restore macroeconomic stability and public sustainability.” The Bank of Ghana incurred the loss largely as a result of…
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AfDB projects inflation to remain above 44.7 percent until 2024
The African Development Bank (AfDB) is projecting that Ghana’s inflation rate will anchor at 44.7 percent for year ending 2023. According to the AfDB, interest rate is also to remain above 25%. This projection is coming on the back of a three-month continuous increase in inflation to 43.1% in July 2023. This projection is contained…