Category: Government
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‘Go Lite with Zenith Bank’ launched to promote cashlite system
The Managing Director and CEO of Zenith Bank Henry Oroh has reiterated the bank’s commitment to supporting the Bank of Ghana(BoG) to promote a cash-lite economy in Ghana. According to him, a lot of progress has been made in the promotion of a cashless economy, but more needs to be done. Available data from the…
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IFC,GSE ‘ring the bell for gender equality’
IFC, a member of the World Bank Group, is partnering with the Ghana Stock Exchange and over 70 other stock exchanges around the world to “Ring the Bell for Gender Equality”—an initiative linked with International Women’s Day that promotes increased women’s participation in the global economy to catalyze sustainable and inclusive private sector growth. Accelerating…
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Fuel prices increase; crosses 5 cedis mark
Prices of Petrol and Diesel have gone up beyond 5 cedis at some fuel stations in the country. Checks at two of the major Oil Marketing Companies, Total and Shell showed a 24 pesewas increase of the prices of both Diesel and Petrol. Both are now selling at GHc5.18 GOIL on the other hand is…
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Seven groups demonstrate against luxury vehicle tax
Seven Associations including the Vehicle and Asset Dealers Association on Thursday embarked on a demonstration to protest the luxury vehicle levy. Members of the associations presented a petition to the Ministry of Finance. The levy was introduced during the 2018 midyear budget review, and it affects vehicles with engine capacity above 3.0 litres. The yearly…
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We’ve not abandoned Ayensu starch factory – Management
The Management of Tiberias Ghana Limited, majority shareholders of the Ayensu Starch factory has rejected claims that it has abandoned the facility. The company in a statement said it has gone to great lengths to ensure that the plant is running after it took over the factory in 2016. “So far, Tiberias has invested over…
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No more deputies; Finance Minister ordered to appear in Parliament
The Speaker of Parliament, Prof. Mike Oquaye has directed the Finance Minister, Ken Ofori-Atta to be in Parliament himself to answer questions filed by Members of the House. Prof. Mike Oquaye’s ruling follows the Minority’s insistence that the Minister and not his deputies be present to answer questions which mainly concern mobile money transactions and…
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Protect public purse during procurement exercises—Joseph Adda
Ghana’s Aviation Minister Joseph Kofi Adda has called on heads of agencies across the country to take the needed steps to protect the public purse as far as public procurement is concerned. The Minister made the remarks while giving his keynote address at the sod-cutting ceremony for the construction of the Ghana Civil Aviation Authority’s…
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Ghana Exim bank initiates stringent measures to recover loans
The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst…
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Gov’t must embark on structural change to stabilize cedi—Economist
Economist, Dr. Ebo Tuckson has urged government to as a matter of urgency implement the needed structural changes in the economy to strengthen the Cedi. His comment follows widespread concern from different sections of the public about the performance of the local currency against the US dollar and other international currencies. The Bank of Ghana…
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BoG must provide guidelines to help sustain local banks–PEF
The Private Enterprise Federation (PEF) is appealing to the Bank of Ghana to provide strategic guidelines with which local banks can become stronger to match up to the standard of the foreign banks. This, they believe will enhance their skills and capabilities in serving the nation. “Most of our financial institutions should be local ownership…