Category: Government
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Ghana Commodity Exchange signs MoU with Barclays Bank
The Ghana Commodity Exchange and Barclays Ghana, a member of the Absa family, signed a Memorandum of Understanding to cooperate with each other in building a framework for the settlement of trades as well as the provision of financial services to exchange actors. As part of this MOU, Barclays Ghana, the biggest lender to the…
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‘Dumsor’ hits parts of Ghana after PDS takeover of ECG
There is a total blackout currently in some parts of the country. Some places including Lapaz, Abeka, Sowutum, Kasoa, Tema, Kwashieman, Odorkor, Awoshie and parts of northern Ghana are currently without light. With regards to northern Ghana, the Northern Electricity Distribution Company (NEDCO) attributed the situation to a “system failure.” They have however assured the general public that…
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Vodafone Ghana rolls out 4G services next month
Telecommunications Company Vodafone is preparing to roll out its 4G services next month after securing the spectrum for $30 million last year. Vodafone will be the second telecommunications company to operate on the 4G spectrum after MTN which secured the LTE license in 2015 at $67.5 million . Citi Business News has gathered that Vodafone…
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Govt to build four shea butter processing factories in 2019
Government in collaboration with the African Development Bank and the Rural Enterprise Programme will establish four new modern shea butter processing facilities in the country before the year 2019 ends. This was disclosed by the Ministry of Trade and Industry. The initiative will fall under governments one district, one factory programme. According to a study…
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Govt announces reforms to improve ‘ease of doing business’ ranking
Vice President Dr. Mahamadu Bawumia has outlined various reforms being undertaken by government to see Ghana improve in the next ease of doing business ranking this year. The vice president said he is positive such action will improve the economic situation in the country. Ghana ranked 114 among 190 economies in the ease of doing…
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Ex-UT, Capital bank staff to meet GCB management over contract termination
Ex-workers of defunct UT and Capital Banks are scheduled to have a meeting with the management of GCB Bank over the termination of their contracts. Overall, 56 ex-staff of the banks were affected after the GCB Bank said they did not possess the minimum qualification required to work with the bank. Although the workers have…
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GNPC’s ‘backstabbing’ stopped Ghanaians from owning 40% of MTN – Yusif Ibrahim
Chief Executive Officer (CEO) of the Dara Salaam Group of Companies, Alhaji Yusif Ibrahim, has stated that but for an act of bad faith by the Ghana National Petroleum Corporation (GNPC), telecommunications giant, MTN would have been 40 percent Ghanaian-owned. Until its recent Initial Public Offering (IPO), MTN was wholly-owned by South African nationals. Speaking…
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‘Payment Systems and Services Bill’ to be passed in June– BoG
The Bank of Ghana(BoG) says it is confident that works on the Payment Systems and Services Bill being done by parliament will be completed by the end of June this year. The Payment Systems and Services Bill has been in parliament for about 2 years. When passed into law it is expected to further strengthen the regulatory…
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Gov’t must enforce strict anti-money laundering cyber rules-Analyst
Some cyber security analysts are calling on government to ensure that there is strict adherence to cyber security and anti-money laundering regulations in the country. The call comes as the European Union has rejected a proposal by the EU Executive Commission to include Ghana and 22 other countries to its dirty money list. Ghana was…
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Five companies to start Cylinder Recirculation Model–NPA
The National Petroleum Authority (NPA) has licensed five LPG marketing Companies to undertake the Cylinder Recirculation Model. The policy is expected to be rolled out before the end of the year. The marketing companies under the Cylinder Recirculation Model will be responsible for the distribution of already filled LPG Cylinders to consumers. They will also…