Category: Local Economy
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Prof. Quartey urges new BoG board to push for a reduction in loan default rates
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has urged the new board of the Bank of Ghana to among other things strengthen the Central Bank’s enforcement and regulatory mechanisms. This follows the swearing-in of the board and a call by President Nana Akufo-Addo for the board…
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MTN Ghana to pilot 5G network in 2023
The Chief Executive Officer of MTN Ghana, Selorm Adadevoh has announced a partnership with 6 other multinationals to build a comprehensive subsea data cable to serve the African continent and the Middle East region. The move according to the telecom giant is due to its astronomical growth in demand for internet and data services influenced…
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Don’t reverse the 50% reduction in benchmark values – GUTA appeals
The Ghana Union of Traders Associations (GUTA) wants the government to abort plans to scrap the 50% reduction in benchmark values. GUTA insists that, if the reversal is carried through, it will adversely affect their businesses. There are rumours that government intends to reverse the 50% reduction in benchmark values introduced about two years ago.…
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Resolve high interest rate concerns – Akufo-Addo urges new BoG board
President Nana Akufo-Addo has charged the new board of the Bank of Ghana to interrogate the issue of high interest rates in the country. According to the President, a low interest rate for businesses in the country is critical for ensuring that Ghanaian businesses become and stay competitive. The President made the remarks at the…
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Western North Region records bird flu cases
The Western North Regional Directorate of Agriculture has destroyed hundreds of birds affected by the H5N1 avian influenza. The outbreak, which occurred in the Farm of Mr. Samuel Mensah Kwarteng in the Ahodwo community in Bibiani- Anhwiaso-Bekwai- Municipality of the Western North Region, is the first to be reported in the region. Mr. Augustine Kwarteng,…
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COCOBOD achieves new record, targets 1.06 million tons to end 2020/2021 season
The Chief Executive Officer of the Ghana Cocoa Board, Joseph Boahen Aidoo, says he is optimistic the country will produce more than one million metric tonnes of cocoa for the 2020/2021 crop season. As of August 19, 2021, COCOBOD, has already exceeded the years’ target of 900,000 metric tonnes. With about five more weeks for…
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![Onion traders at Adjen Kotoku hopeful of boom in sales in December [Video]](https://citibusinessnews.com/wp-content/uploads/2021/08/Onions.jpg)
Onion traders at Adjen Kotoku hopeful of boom in sales in December [Video]
The vegetable crop onion is the third-largest vegetable crop in Ghana, after tomatoes and chilli pepper. Onion is produced predominantly under rain-fed conditions, which accounts for 75 percent of the annual crop. It also has tremendous market potential in Ghana. It is consumed widely across all households, while the country’s expanding hospitality industry also offers…
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GUTA calls for collaboration with government on 1D1F
The Ghana Union of Traders Association (GUTA) is calling on the government to align the trading community to its one district one factory initiative. GUTA argues that as traders, they can play a significant role in the success of the program, adding that they can serve in the distribution of products from the factories. President…
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Dr. Osae defends concerns Auditor-General raised against GNPC’s international transactions
The Director-General of the Internal Audit Agency, Dr. Eric Oduro Osae has disagreed with the Ghana National Petroleum Corporation’s (GNPC) assertion that the requirement to seek parliamentary approval for some five international transactions, referred to in the 2020 Auditor-General’s report, does not apply to the corporation. The Auditor-General indicted the GNPC for signing and awarding…
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We don’t need parliamentary approval for international transactions – GNPC
The Ghana National Petroleum Corporation (GNPC) has described as wrong, findings by the Auditor-General, pointing to the fact that the company entered into five significant international business contracts without parliamentary approval, contrary to the provisions of Article 181 of the 1992 Constitution. According to a rejoinder published by the GNPC in response to the 2020…