Category: Government
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Reduced trade activities in China cause of Cedi’s performance – Franklin Cudjoe
The President of policy think tank, Imani Africa, Franklin Cudjoe, is calling for more sustainable measures from the Bank of Ghana to stabilize the cedi despite the local currency’s recent stability. The Cedi has in recent times seen some relative stability, appreciating by 4.5 percent on year to date basis. Speaking to journalists on the…
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Gov’t must stick to commitment on debt management this election year—Economist
A Senior Economist with investment firm, Databank, Courage Martey, has urged government to be cautious of its expenditure this election year. He maintains that even though the Finance Ministry has shown the commitment not to overspend, there is the need to remind the government to stick to its plan debt management strategy. Since the year…
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OMCs welcome NPA’s Product Marking Scheme to check fuel diversion and adulteration
The Association of Oil Marketing Companies (AOMC), has welcomed the introduction of a new monitoring system for the petroleum sector known as the Petroleum Product Marking Scheme. The system, which also checks adulteration of fuel will help the National Petroleum Authority to check the quality level of fuel in the country. Speaking to Citi Business…
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CBOD committed to tackling corrupt practices in petroleum industry – Senyo Hosi
The Chief Executive Officer of the Chamber of Bulk Oil Distributors, Senyo Hosi, says his outfit is undertaking a self-assessment exercise to help reduce diversion of fuel in the petroleum industry. According to him, it is important for all stakeholders in the sector to help government expose corrupt acts in the downstream sector that is…
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Aviation workers angry with gov’t for encroaching on lands needed for air safety
The Professional Workers’ Union of the Ghana Civil Aviation Authority, GCAA, is demanding an end to what it calls unlawful encroachment of the Authority’s lands. The workers say lands demarcated for aviation safety purposes are being taken over by the government which they fear could jeopardize safety at the country’s International Airport. In an interview…
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Gov’t launches Petroleum Product Marking Scheme to check stealing of subsidized fuel
Government has expressed optimism that the diversion and stealing of subsidized fuel will be greatly reduced with the introduction of a new monitoring system known as the Petroleum Product Marking Scheme. The system uses a special marker to trace quantities of petroleum products at all operational depots in the country prior to distribution to the…
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Bawumia urges ECG to boost revenue collection as it launches new mobile app
Vice President, Dr. Mahamudu Bawumia, has charged the Electricity Company of Ghana (ECG), to improve its collection rate to help turn around the fortunes of the energy sector. The power distribution company currently has a collection rate of 66 percent, a situation that is partly accountable for the recurring debt in the energy sector. But…
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NEIP urges startups to take advantage of tax holiday to expand
Executive Director of the National Entrepreneurship and Innovation Plan (NEIP) John Kumah, has urged businesses below five years to take advantage of the tax holiday introduced by government and apply. He says this will relieve them off some pressures that come with building a robust business. “An important thing is the environment for startups, since…
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Gov’t clears $1bn legacy debt owed Bulk Oil Distributors
Government has completed payments of all legacy debts due the Chamber of Bulk Oil Distributors, CBOD, according to the Chamber’s CEO, Senyo Hosi. A statement from the Chamber to Citi Business News said the government made payment to the tune of one billion dollars as at January 13, 2020. According to the bulk oil distributors,…
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GIPC woos US investors at business meeting with Mayor of Broward County
The Ghana Investment Promotion Centre (GIPC) has intensified efforts to boost investments in the country with a call on foreign governments and individuals to take advantage of the country’s numerous investment prospects to facilitate development. The Centre says there are many investment opportunities that are underutilized or untapped, requiring huge capital and human investments. An…