Category: Government
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GRIDCo transmission tower collapses; company suspects vandalism
One of the transmission towers near the Head office of Ghana Grid Company (GRIDCo) at Tema has fallen over into another tower. Officials of the GRIDCo discovered the fallen tower on Monday morning and noted that the bolts holding the pylon had been loosened causing it to fall over. Before the discovery, customers from Accra…
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Ghana among RMB’s 2019 Top 10 Investment Destinations in Africa
Ghana remains one of the top 10 attractive investment destinations in Africa even after the worst banking crisis in its history. Studies by Rand Merchant Bank Ltd, RMB (Corporate and Investment Banking arm of FirstRand Limited) show that a growth will be driven predominantly by the hydrocarbons sector, with a continued ramping-up of oil and…
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Banks are ready to take advantage of Payment Systems and Services Bill
The Absa Group Limited, formally Barclays Africa Group Limited is confident the passage of the Payment Systems and Services Bill into Law will urge banks to grow in the country. The Payment Systems and Services Bill which was passed into law is expected to promote innovation in the design of new secure electronic money products and payment services,…
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Cedi depreciation causes fuel price hike for a second time in March
Some Major Oil Marketing Companies (OMCs) have slightly adjusted upward the prices of petrol and diesel. Checks at various fuel stations showed that Shell and Total have increase the prices of petrol and diesel by six pesewas. The two companies are selling a litre of petrol and diesel for GHS5.24 representing a 1.16 percentage increase…
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Gov’t assures beverage industry of zero duties on imports of equipment
A Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay has called on Small and Medium Beverage Enterprises to take advantage of the opportunities in the beverage industry for the industrial transformation of Ghana. Speaking at the 3rd Edition of the Ghana Beverage Awards Mr. Ahomka-Lindsay lauded the organizers of the awards, Global Media Alliance for…
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Using short term measures to support cedi not sustainable—Banking Consultant
The local currency, the Ghana Cedi experienced its strongest performance against the US Dollar in the past three months after gaining 8 pesewas to end Friday March 22, 2019, selling at GHC 5.16 on the interbank foreign exchange market. Historically, the Ghanaian Cedi reached an all-time high of 5.60 against the dollar at some forex…
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Gov’t begins campaign to promote Made in Ghana products in supermarkets
The government through the Food and Drugs Authority (FDA) has begun a campaign to encourage supermarkets and foreign retail shops in the country to promote locally produced goods dubbed “Made in Ghana Display”. In view of this, the FDA has commenced engagements with major supermarkets and retail outlets to allocate specific sections in their supermarkets…
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NLA has our support, ignore fake groups -Licensed lotto agents
The leadership of the Licensed Lotto Operators and Agents Association (LLOAA), has said the group calling itself the Concerned Lotto Agents Association of Ghana (CLAAG) does not have any locus to interfere in its dealing with the National Lottery Authority. According to the licensed operators, they solidly believe in the vision and innovative policies and…
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Citi FM adjudged Tourism Oriented Media at National Tourism Awards
Citi FM has been adjudged the Tourism Oriented Media at the 2018 edition of the National Tourism Awards. The event which was organized under the theme” Celebrating Our Heritage” was held at the Ghana Trade Fai Center, La Accra. Citi FM and Citi TV as part of efforts to promote tourism have adopted the month…
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Govt must manage its expenditure to prevent a return to IMF—Prof. Quartey
Economist Professor Peter Quartey is positive Ghana will not return to the IMF if only it manages its expenditure and revenue better in 2020. Some economists have pointed out that governments overspend in election years, creating economic difficulties that compel Ghana to back to the IMF for a bailout. But speaking to Citi Business News,…