Category: Featured
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Savings and loans companies receive assurance from BoG to resolve NPLs
Savings and loans companies in the country have received assurances from the central bank that steps will be taken to resolve difficulties with Non-Performing Loans (NPLs) and high interest rates. The Central Bank claims to have seen the difficulties facing the sector’s operators. As the bank continues to work to ensure financial stability, Mr. Osei…
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Aggrieved customers of Gold Coast Fund Mgt threaten to picket at Finance Ministry
Leaders of the aggrieved customers of the defunct Gold Coast Fund Management Company have given government up to July 24 to accelerate efforts to pay their locked –up funds or commence a 36-hour picketing at the Finance Ministry. This is coming after the aggrieved group made a call for an investigation into the Economic and…
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Prof. Gatsi cautions govt against attempts to advance money from Contingency Fund
The Dean of the School of Business at the University of Cape Coast, Professor John Gatsi is cautioning government to be more prudent with proceeds from the Contingency Fund. His comments come on the back of the disclosure by the finance minister on the floor of parliament that the Contingency Fund now stands at GH¢200…
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ECG disconnects Musahamat Banana Farm and Treasure Island Hotel over debts
As part of the ongoing revenue mobilization by the Electricity Company of Ghana, dubbed “Operation Zero,” the Musahamat Banana Farm in Aveyime and the Treasure Island Hotel have had their power supply disconnected. The Farm Business, which is under the Ada District of the Tema Region of ECG, owes the electricity distributor to the tune…
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17 defunct public enterprises to be disposed of; some to be listed on stock exchange
The Ministry of Public Enterprises says it is planning of disposing of 17 defunct state-owned enterprises. Some of these entities including the State Construction Company, Bonsa Tyre Factory, and Bolgatanga Meat Factory, among others. According to the Ministry, a review of the companies revealed that the enterprises are liabilities to the country because they have…
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BoG Governor criticized for delays in filing financial statements
The Deputy Ranking Member on the Finance Committee of Parliament, Isaac Adongo, has strongly criticized the Governor of the Bank of Ghana, Dr. Ernest Addison, for the delay in filing the financial statements of the central bank. According to Adongo, the law mandates the Bank of Ghana to publish its assets and liabilities every 15…
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June Inflation rises marginally to 42.5% from 42.2%
Inflation for the month of June 2023 in Ghana increased marginally to 42.5 percent compared to the 42.2 percent recorded in May 2023. According to the government Statistician, Professor Samuel Kobina Annim, the main drivers of this inflationary trend are food and non-food items, which account for 54.2% and 33.4% respectively. Locally produced items witnessed…
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Ghana’s road to economic recovery a difficult one – Kwame Pianim
Economist, Kwame Pianim is doubting government’s ability to improve the country’s economic quagmire within the shortest possible time. He attributes the severity of the challenges to government’s incompetence, corruption, and huge appetite for reckless borrowing, insisting that the government must demonstrate commitment to put these in check. Speaking to Citi Business News, Kwame Pianim said…
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Trade Fair management committed to make facility West Africa’s leading trading hub
The management team of the Ghana Trade Fair Company Limited is committed to converting the trade fair center into a leading trading hub in West Africa. Over the next five years, it aims to complete a project that will host the African Continental Free Trade Area (AFCTA) Secretariat as well as other top-notch facilities. The…
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Trade Minister satisfied with works at Sentuo Oil Refinery
The Minister of Trade and Industry, KT Hammond has paid a working visit to the Sentuo Oil Refinery Ltd. (SORL), touting the project as a good prospect to see to an end Ghana’s refinery problems. The project which is in accordance with government’s “One District One Factory” (1D1F) development policy, will produce/refine 5 Million tons…