Category: Featured
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Govt poised to help private sector grow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has reiterated his government’s resolve to do everything it can to grow the country’s private sector, which will contribute to the growth of the economy. He said this because the country’s current economic challenges require investment from the private sector. Speaking at a meeting with the Group Board Chair of…
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Petroleum tanker drivers resume work after suspension of strike
Business operations have resumed at various petrol and gas depots along the Volta Aluminum Company (VALCO) Kpong road in Tema. A tour at different loading terminals including Tema Oil Refinery, Fuel Trade and Chase was busy with the tanker drivers queueing to fill their tanks. The operations come after government through the Ministry of Roads…
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Mahama begs IPPs to reconsider shutdown over $1.73 billion debt
Mahama begs IPPs to reconsider shutdown over $1.73 billion debt Former President John Dramani Mahama has urged the Independent Power Producers (IPPs) to reconsider their decision to shut down their plants on July 1 due to the government’s outstanding debt of $1.73 billion. In a Facebook post on June 30, the former President emphasized that…
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GCB Bank unveils comprehensive turnaround plan to revitalize operations after DDEP blow
At the annual general meeting of the Ghana Commercial Bank (GCB), Managing Director Kofi Adomakoh addressed the bank’s financial performance in 2022 and outlined the challenges faced by the bank and the overall operating environment. The bank’s financial performance in 2022 reflected the impact of several factors, including the Domestic Debt Exchange Programme (DDEP) initiated…
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Petroleum tanker drivers suspend nationwide strike
The Ghana National Petroleum Tanker Drivers Union and Liquified Petroleum Gas (LPG) Tanker Drivers have suspended their industrial action after more than two hours of crunch meeting held with the Minister of Roads and Highways, Kwasi Amoako-Attah. The Union is expected to resume work from tomorrow, Friday while works begin to smoothen the road. The…
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First National Bank, Fidelity Bank establish special arrangements amid Forex license suspension
Following the temporary suspension of forex licenses by the Bank of Ghana (BoG) due to violations of the Ghana Interbank Forex Market Conduct rules, First National and Fidelity Banks have announced the establishment of special arrangements with partner banks. The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited were suspended…
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Bank of Ghana’s operational mechanism ‘very pleasing’ – Prof. Aryeetey
At the launch of Ivor Agyeman-Duah’s comprehensive book on the Bank of Ghana, titled “Central Banking in Ghana and the Governors – Institutional Growth and Economic Development,” Professor Ernest Aryeetey, the Secretary General of the African Research Universities Alliance and former Vice Chancellor of the University of Ghana, praised the Bank’s operational mechanism, stating that…
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Deputy CEO of GIPC stresses IMF’s role in Ghana’s economic recovery
In a recent Financial Economics Seminar held in Accra, Yaw Amoateng Afriyie, the Deputy CEO of the Ghana Investment Promotion Centre (GIPC), expressed his optimism regarding Ghana’s economic prospects despite the ongoing cost of living crisis and inflationary pressures. Afriyie emphasized the importance of leveraging the benefits of the International Monetary Fund (IMF) program to…
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Chamber of IPPs orders members to suspend power supply from July 1
There is an impending power crisis as the Chamber of Independent Power Producers (IPPs) has directed its members to cut supply to the national grid from July 1. The directive to nominate nothing and not declare an availability of power to the system operator is to last till July 8. Members of the Chamber include…
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Forex licences of Fidelity Bank, First National Bank temporarily suspended
The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited have been suspended temporarily. This is because, the two financial institutions have breached some sections of the Ghana Interbank Forex Market Conduct rules, according to the Bank of Ghana (BoG). The Central Bank which meted out the sanction has also fined…