Category: Government
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Criminal investigations into banks’ collapse underway – Nana Addo
President Nana Addo Dankwa Akufo-Addo, has revealed that a Special Investigations Team has been put in place to undertake criminal investigations into the failures of all seven banks for possible prosecutions by the relevant State agencies. Addressing the media at an end of year press conference on Wednesday, 19th December, 2018, President Akufo-Addo assured that “no…
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Ghana must develop its own pipeline to transport gas—Prof Gyan-Baffuor
Minister for Planning, Prof. George Gyan-Baffour says it is of great importance that Ghana expedites the processes needed to build its own gas pipelines. According to him, such infrastructure will reduce Ghana’s dependence on the West African Gas Pipeline, which is currently used to transport gas from Nigeria to Ghana. His comments follow recent negotiations…
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Pioneer Kitchenware to go off stock market by year end
The managers of the Ghana Stock Exchange are to remove Pioneer Kitchenware from the database of listed companies on the stock market by the end of 2018. This is because the company has failed to make any progress with reconciling its operational performance with the operators of the bourse despite several notices to do so.…
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Ghana, Spain deepen ties with Chamber of Commerce
The Spain – Ghana Chamber of Commerce has been launched. The event took place on Wednesday 12th December 2018, during a stakeholder and media ceremony held at the residence of the Ambassador of Spain to Ghana, Her Excellency Alicia Rico in Accra. The Spain – Ghana Chamber of Commerce among other things will primarily serve as a…
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Exchange rate pressures may push policy rate up—Economist
Pressures from the cedi depreciation could compel the central bank to increase the policy rate by first half of 2019, economist Adu Owusu Sarkodie has projected. According to him, the demand for dollars in December due to the festive season could have an effect on the exchange rate forcing the Bank of Ghana(BoG) to use…
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IMF warns government against over borrowing
Managing Director of the IMF, Christine Lagarde has warned government against excess borrowing, stating that it could derail economic gains achieved by the country. Madam Largarde is in the country for a two-day visit to complete processes for Ghana’s exiting of the programme with the IMF. Speaking at a conference organized by her outfit in…
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First National Bank saving tips for Christmas
Are you spending thoughtlessly because it’s Christmas? This festive season, many of us may be guilty of spending without thinking, however, if you never pay attention to the money you are spending it can soon lead to real financial problems. That is why you should not surprise yourself with your expenses during this Christmas. “Thoughtless…
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Contractors demand payment for 2 billion cedis arrears
Contractors are demanding quick payment of their outstanding arrears. This is despite government’s announcement that it will release 2 billion cedis to settle some arrears owed them early next year. According to the Chamber of Construction Industry, its members are still struggling to defray loans they took from banks to execute government projects as interest…
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IMF’s Christine Lagarde starts two day visit to Ghana
The Head of the IMF, Christine Lagarde is in Ghana for a two day visit. Her coming is ahead of the nation’s exit from the Fund by the end of this year. Madam Christine Lagarde’s visit is viewed by some analysts as symbolic as it may signify the Fund’s impression with Ghana’s overall performance under…
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Parliament approves GH¢1.2 billion for GRA in 2019
Parliament has approved an amount of about 1.2 billion cedis for the Ghana Revenue Authority (GRA) for the 2019 financial year. According to the Finance Committee of Parliament, the amount is necessary to help the GRA with its pursuit of registration and issuance of Taxpayer Identification Numbers [TIN] as well as other means the authority…