Category: Government
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Fuel prices to hit 5 cedis per litre
Prices of fuel are expected to increase to about 5 cedis per litre for the second pricing window in September [September 16th to 30th]. This is largely due to the depreciation of the cedi. The Institute of Energy Security (IES) who revealed this also adds that other major factors such as the increase in Brent…
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Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’
The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The…
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SEC orders closure of unlicensed investment companies
The Securities and Exchange Commission (SEC) has issued a strong warning asking all unlicensed financial investment schemes to close down their operations or risk facing the law. The Commission is cautioning that the activities of such entities pose a threat to the financial sector which need to be stopped. The SEC says the unlicensed institutions…
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Stop Chinese takeover with skilled labour – Dr. Gyimah
A Ghana-China expert, Dr. Glenn Gyimah believes the Government of Ghana can use the provision of skilled labour to benefit from its relationship with China. He noted the shortage and neglect of skilled labour has not only created room for the Chinese to take local jobs but also slowed the growth of Ghana’s manufacturing sector. “If we…
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China deals fit Ghana’s development agenda—Oppong Nkrumah
Minister for Information Designate, Kojo Oppong Nkrumah has defended government’s decision to partner with China in different economic agreements for exploiting natural resources for national development. According to him, the current global environment makes China one of the best partners to work with for economic gains. President Akufo Addo during a recent visit to China…
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China bauxite deal “old fashioned” model of exporting raw materials–Dr.Graham
The Coordinator of the Third World Network, Dr. Yao Graham has cautioned government against rushing into agreements with powerful nations such as china that may lead to Ghana’s raw material being exported. He argued for example that, the model being adopted by the government in signing the two-billion dollar bauxite deal with China is not…
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Consolidated bank assesses skills of staff
Current employees of the Consolidated Bank Ghana Limited are to undergo assessment tests scheduled for September 15th and 16th, 2018. This follows the completion of application processes for all the workers of the bank. A memo to all staff and sighted by Citi Business News also stated that the tests will be carried out in…
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Ghana scores average in new World Bank report
Ghana scored an average point in the World Bank’s Country Policy and Institutional Assessment (CPIA) index for the year 2017. The index, which captures four main areas including Economic Management, Structural Policies, Policies for Social Inclusion and Equity, as well as Public Sector Management and Institution, scored Ghana 3.6 on scale of one to six.…
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Inflation for August increases 9.9 percent
Inflation for the month August has increased to 9.9 percent from the 9.6 percent recorded in July. This represents 0. 3 percentage point increase. Inflation measures the rate of change in the general price level of goods and services over a period of time. There is more details in this report. Speaking at press briefing,…
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Gov’t cuts sod for construction of steel company under 1D1F
The Ministry of Trade and Industry has cut the sod for the construction of a steel manufacturing company under government’s one district, one factory initiative(1D1F) in the Ningo Prampram District. The company, which is called B5 plus Ltd is injecting an amount of 80 million dollars into the project and is hoping to complete it…