Category: Government
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Over 119 thousand Ghanaians duped in Ponzi schemes in 2018
Data from the Bank of Ghana has revealed that nearly 119, 300 people lost their investments to four Ponzi schemes in 2018. That excludes victims of Menzgold. The victims lost a total of GHS59,568,000. The companies that were used to dupe the unsuspecting customers include, Savannah Brokerage Investment Limited, Bitworld Investments Limited, FX Crypto Trading…
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Patricia Obo-Nai heads Vodafone Ghana as new CEO effective today
Vodafone Ghana will from today April 1 2019, be headed by Mrs. Patricia Obo-Nai as its new Chief Executive Officer. Patricia is the first Ghanaian to be appointed CEO of Vodafone Ghana. Her appointment follows the return of Ms. Yolanda Cuba, the immediate past Vodafone Ghana CEO to Vodacom Group in South Africa, after successfully…
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Govt signs €34m agreement with EU, UNIDO
Government has signed an agreement worth 34 million Euros with the United Nations Industrial Development Organization (UNIDO) and the European Union to boost the country’s industrial development, trade and exports. The agreement will enable Ghana benefit from the UNIDO’s new Country Program for Ghana and the EU’s West Africa Competitiveness Programme. The Trade Minister, Alan…
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Ghana’s debt stock increases by 21 percent in 2018
Figures released by the Bank of Ghana(BoG) in its latest Summary of Economic and Financial Data show that Ghana’s debt stock increased by 21.5 percent in 2018. By this, the country added 30.6 billion cedis to its debt stock in 2018. The debt stock at the end of 2017 stood at 142.6 billion cedis, increasing…
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SEC warns public against investing in crypto currency platforms
The Securities and Exchange Commission(SEC) is cautioning the General public against investing in crypto currency deals. The SEC insists the activities of crypto currencies are not licensed by their outfit. The SEC states that activities offered by such digital on-line trading platforms that promise high returns on investment entities are unregistered and unlicensed neither are…
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Gov’t seeks $200m to ensure sustainable mining
Government is seeking to raise some $200 million from donors for the implementation of the Multi- Sectorial Mining Integration Project which seeks to ensure sustainable mining in the country. The World Bank and the Australian government have already committed $30 million and $500,000 respectively for the implementation of the project The Multi- Sectorial Mining Integration…
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Private sector participation needed in extension service delivery—Agric Ministry
A Deputy Minister for Food and Agriculture, Kennedy Osei Nyarko has called for active private sector participation in extension service delivery. According to him, the ratio of extension officers to farmers is woefully inadequate and must be looked at critically. As at 2017, there were only 1,600 extension officers to provide assistance to the thousands of…
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Domestic revenue collection crucial to economic development– GRA
The Commissioner General of the Ghana Revenue Authority, Emmanuel Kofi Nti has maintained that the authority will enforce the relevant laws that will help improve domestic revenue mobilization. According to Mr. Nti the collection of taxes is crucial to the economic development of the nation. The Commissioner General spoke at an event organized to award…
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Investors more confident in Ghana now than before —Ken Ofori-Atta
The Finance Minister, Ken Ofori-Atta has reiterated that the high participation of foreign investors in Ghana’s recent issue of three billion dollars Eurobond confirms investor confidence in Ghana. Comparing the 3 billion dollar bond to the last bond of 750 million dollars raised under the erstwhile John Mahama administration, Mr. Ofori-Atta argued that government got…
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Parliament slashes GNPC 2019 budget by $80m
Parliament has slashed the Ghana National Petroleum Corporation’ (GNPC)’s 2019 expenditure budget by 80 million dollars, Ranking Member of the Select Committee on Energy, Adam Mutawakilu has said. The Ranking Member of the Select Committee on Energy who disclosed this said there was no justification for some of the projects captured in the 2019 budget…