Category: Government
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Occupants of Trade Fair to vacate facility by year end
All occupants of the Trade Fair site are to vacate the premises by the end of this year; 2018. This management says is to allow for work to begin on site. Trade fair has for some time now stated their intentions to revamp the facility to restore the once vibrant trading hub. Chief Executive Officer…
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IMF clearance speeds up processes for China’s $2bn – Akoto Osei
The Minister for Monitoring and Evaluation, Dr. Anthony Akoto Osei, has stated that government will speed up negotiations on the two billion dollar SinoHydro bauxite deal, following the International Monetary Fund’s (IMF) rejection of the Minority’s request to classify the deal as a loan. Speaking to Citi News, Dr. Akoto Osei maintained that the clarification…
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Ghana’s economy expands by 32.4 % after rebasing
Ghana’s economy has expanded by 32.4 percent following the rebasing of the economy from the 2006 to 2013 base period. By rebasing of the economy, the base year for calculating the Gross Domestic Product (GDP) which refers to the monetary value of all finished goods and service produced within a particular period has been moved…
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Ghana’s growth prospects strong; revenue shortfall must be tackled- IMF
A team from the International Monetary Fund (IMF) which undertook the seventh review of Ghana’s performance with regards to the IMF’s extended credit facility says the country’s growth prospects remain strong, but expressed worry over revenue shortfalls. The team was in Accra from September 17-27, 2018, and held various discussions focusing on recent developments, fiscal…
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![Spare parts dealers lament over locked up funds in S&L company[audio report]](https://citibusinessnews.com/wp-content/uploads/2018/01/Spare-parts-1.jpg)
Spare parts dealers lament over locked up funds in S&L company[audio report]
Spare parts dealers at Abossey-Okai have expressed fears of their businesses collapsing if government does not intervene to get their investments with First Allied Savings and Loans released. The dealers made the comments at a town hall meeting between spare parts dealers at Abossey-Okai and key government agencies. Citi Business News was at the event.…
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Don’t panic, we are still strong – Savings & Loans Association
The Ghana Association of Savings and Loans Companies is assuring clients and the general public that the sector is still robust despite recent issues facing the financial sector. A statement from the association to Citi Business News admitted to challenges with some Savings and Loans Companies. But it is confident such issues should be resolved…
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Menzgold to pay customers their monies from Friday
Management of gold dealership company Menzgold, has announced that customers can visit branches of the company to demand their matured investment from tomorrow [Friday], September 28, 2018. Addressing a press conference today, Thursday, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, explained that the company will pay all its customers that were trading with them…
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Stay off our business; Menzgold sues BoG, SEC
Embattled gold dealership company, Menzgold, has sued the Securities and Exchange Commission (SEC) and the Bank of Ghana. The company in its suit is seeking from the court an order directing the two institutions to stop interfering in its business. Menzgold also asked the court to stop the Bank of Ghana and the SEC from publishing what…
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BoG challenges jurisdiction of court hearing Duffuor’s case
The Bank of Ghana has challenged the capacity of the General Jurisdiction Court hearing the lawsuit brought against it by a shareholder of Unibank, Dr. Kwabena Duffuor. The Central Bank on August 1, 2018, collapsed uniBank along with four other local banks on grounds of insolvency among other irregularities, to create a new bank known…
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Savings and Loans Industry still strong—Advans Savings and Loans CEO
A Deputy Chief Executive Officer of Advans Savings and Loans, Francis Owiredu has stated that the issue of panic withdrawals is being blown out of proportion. Although he admits that some financial institutions have been affected by it, he argues that it is not something the financial industry should be alarmed at. Various financial institutions…