Category: General
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Disregard for good corporate governance collapsing family businesses -Rockson Dogbegah
The President of the Institute of Directors Ghana, Rockson Dogbega, says blatant disregard for the principles of good corporate governance structures is largely the reasons why most indigenous companies don’t survive beyond their founders. According to him, family relations and sometimes acquaintances often fail to follow laid down procedures, leading to the collapse of companies.…
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Ghana Club 100 Awards: Full list of winners
Telecommunication Company, MTN has been adjudged the best company at the 18th edition of the Ghana Club 100 awards. The event which was held at the Kempinski Gold Coast Hotel in Accra brought together captains of industry in both the private and public sectors. Kosmos Energy, GOIL, and Sunon Asogli Power Ltd, came in as…
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GSE working to reduce impact of high interest rates on investments — Ekow Afedzie
Managers of the Ghana Stock Exchange (GSE) are hopeful trading activities on the bourse will become profitable if government is able to bring down interest rates on loans. Currently, the average cost of borrowing in the country is around 27 percent, making Ghana one of the countries with the highest interest rate in West Africa.…
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Fiscal Council must be firm on govt to avoid over spending in 2020—Economist
Some financial analysts have urged the Fiscal Council to start checking the expenditure of the government to prevent a budget overrun. The Fiscal Council was formed after Ghana exited the IMF extended credit facility programme in April this year to advise the government to be financially disciplined. Speaking to Citi Business News on the need…
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Guinness Ghana increases local raw material sourcing to 55 percent
Beverage producer Guinness Ghana Limited says it is on track to reach 70 percent local raw material sourcing from Ghanaian farmers. This follows a research by the Kwame Nkrumah University of Science and Technology which showed that the company has increased its local raw material sourcing from 12 percent to 55 percent. Speaking to Citi…
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PDS deal cancellation was to protect $3 billion ECG assets — Ofori-Atta
Finance Minister Ken Ofori-Atta has explained that government cancelled the power concession agreement with Power Distribution Services(PDS) to protect the 3 billion dollar assets of the Electricity Company of Ghana(ECG). Mr. Ofori-Atta maintained that there was no need pursuing the matter since some partners in the deal breached some agreements that were fundamental to the…
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GRA closes down metering company over GHS6.8m tax default
The Ghana Revenue Authority (GRA) has closed down a metering company as part of its compliance and enforcement exercise in the Greater Accra region to compel businesses to pay their taxes. A special task force with the authority closed down the private metering company, Intelligent Metering and Solution Limited in East Legon. This exercise follows…
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Article: Botched PDS deal: MiDA on the radar
In March this year, the Power Distribution Services (PDS) assumed the responsibility of managing the retail, and distribution business of the Electricity Company of Ghana (ECG), following government’s decision to execute the second Millennium Challenge Compact with the U.S. government with the objective of, inter alia, increasing private sector investment and the productivity and profitability…
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World Bank approves US$150 million loan to support 2.2 million pupils
The World Bank Board of Directors approved today US$150 million in financing to support the government to improve the quality of education for over two million children in low performing basic education schools, and to strengthen the country’s education system. “The project focuses on underserved areas and on improving the quality of education for increased…
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Accra Mall shop owners lock out customers in protest against management
Shop owners operating in the Accra Mall have announced that their shops will be temporarily closed in the initial working hours of today, Thursday, October 24, 2019, in protest of some difficult conditions they operate under. A statement issued by the Accra Mall Tenants Association said the decision was taken to bring to the fore…