Category: Local Economy
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Tony Oteng-Gyasi appointed as Board Chairman of GRA
The President, Nana Addo Dankwa Akufo-Addo has appointed Tony Oteng-Gyasi as the new Board Chair of the Ghana Revenue Authority, (GRA). The former President of the Association of Ghana Industries, and Managing Director and Chairman of Tropical Cable and Conductor Ltd will replace Professor Stephen Adei as the new Chair of the Board of the…
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Akufo-Addo appoints Kofi Dzamesi as CEO of Bui Power Authority
A former Minister for Chieftaincy and Religious Affairs, Samuel Kofi Dzamesi has been appointed as the Chief Executive Officer of the Bui Power Authority. His appointment was confirmed in a letter signed by the Chief of Staff, Akosua Frema Osei-Opare on July 30, 2021. “Pursuant to Section 9 (2) of the Bui Power Authority Act,…
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New SEC Board charged to work efficiently to drive economic growth
The Minister of Finance, Ken Ofori-Atta has inaugurated the Board of the Securities and Exchange Commission (SEC). The reconstitution of the Board was in line with the Securities Industries Act, 2016 (Act 929) as amended. Speaking at a ceremony to inaugurate the Board for the SEC, the Ghana Revenue Authority and the Social Security and…
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Inaccurate data could hamper Ghana’s Credit Reporting System – Banking Consultant
Banking consultant Nana Otuo Acheampong has charged the Bank of Ghana and institutions participating in the Credit Reporting System (CRS) to ensure accuracy in the data they collect. According to him, poorly kept records could lead to innocent borrowers being rated unfairly by lenders. The remarks come on the back of the announcement of the…
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Young women urged to seek professional advice before venturing into AgriBusiness – YARA
West Africa Regional Director of YARA, Mr. Danquah Addo-Yobo, has urged young women who intend to venture into agriculture as a business to seek professional advice before venturing into the sector. He noted that the agricultural sector offers women many opportunities to grow as entrepreneurs. As the novel Coronavirus continues to spread and pose a…
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Banks see strong growth in their asset base in 1st half of 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows steady growth in their total assets. While banks like UBA Bank and OmniBSIC Bank saw their asset base grow by almost 40 percent at the end of the first half of 2021, when…
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ADB leads in profit growth rate as banks remain profitable in 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows promising increases in profits for some and some slowdown in profit growth for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 13 of Ghana’s top banks covering January…
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GIPC, Information Ministry launch ‘Spark Up’ Investment Summit
The Ghana Investment Promotion Centre (GIPC), in collaboration with the Ministry of Information (MOI), on Tuesday, August 3, 2021, launched the annual investment summit dubbed ‘Spark Up’, at the Kempinski Hotel Gold Coast City. Themed “Reawakening the Giant: Maximizing Ghana’s Investment Potential”, the Summit, which will take place on September 6, 2021, will engender open…
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Akufo-Addo appoints former Ambassador to China Edward Boateng as TOR MD
President Nana Akufo-Addo has appointed Ghana’s former Ambassador to China, Edward Boateng as Managing Director of the Tema Oil Refinery (TOR). Mr. Boateng is expected to spearhead the transformation of the company. Edward Boateng who served as Ambassador from 2017 to 2020, takes office at the Tema Oil Refinery at a time when workers of…
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Traders advocacy group lauds government for not introducing new taxes in budget review
Traders Advocacy Group Ghana has commended the government for not introducing new taxes in the 2021 mid-year budget review. The government as part of efforts towards reviving the economy amidst the Covid-19- pandemic earlier in the year introduced some new taxes, including the Energy Sector Recovery Levy. In an interview with Citi Business News, General…