Category: Local Economy
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Foreign investment inflows helped cedi’s stability in first half of 2021 – Economist
Economist, Courage Martey, has lauded the cedi’s performance so far this year. Ghana’s local currency has remained fairly stable in the first two quarters of 2021, experiencing a depreciation of less than one percent against the US Dollar between January and June. According to Mr. Martey, the stability of the currency can be attributed to…
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GhQR was designed to replace more expensive payment systems – Archie Hesse
Chief Executive of the Ghana Interbank Payment and Settlement System, Archie Hesse, says the GhQR code payment service has been designed to replace the relatively more expensive payment systems found in shopping centres across the country. The GhQR code system of payment is a contactless mode of payment involving the scanning of a QR code…
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GSE likely to record first positive yearly return since 2017 – Analyst
A continuous easing of COVID-19 related restrictions will see the Ghana Stock Exchange (GSE) ending the year 2021 on a positive note, the first time since 2017. That’s according to the General Manager of UMB Stockbrokers, Ben Ackah. For the past decade, the Ghana Stock Exchange Composite index (GSE-CI) which reflects the average performance of…
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GSE returns 36% in Cedi terms to investors in first half of 2021
After recording negative returns from 2018 to 2020, the Ghana Stock Exchange has taken a strong positive turn, returning about 36% in Cedi terms for investors in the first half of 2021. During the same period last year, the stock exchange returned about -16% to investors. The strong performance can be attributed mainly to a…
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PassionAir operates demonstration flights to Ho with connection to Kumasi.
The management of PassionAir has stated that it has operated a demonstration flight to Ho, the Volta Region capital and connected to Kumasi in the Ashanti Region. The demonstration flight was to ascertain the technical performance of their aircraft operation into Ho airport. It was to also collect the necessary data for their planned operations…
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Bank of Ghana issues new directives on handling of captured ATM cards
Regulated Financial Institutions have been directed by the Bank of Ghana to among other things ensure that the replacement of ATM cards captured by Automated Teller Machines, due to technical issues among others, is done for free. This was contained in a document issued by the central bank on how payment cards captured in Automated…
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ADB, NIB to be refocused to remain relevant – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta says the fundamental objectives of special-purpose banks such as the NIB and ADB would have to be reviewed to help them secure the necessary capital so they can give out long-term funds as the government makes moves to establish a development bank. The Government of Ghana, in partnership with…
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Ghana positioned for better growth after exit from money laundering list – Ofori-Atta
The removal of Ghana from the global list of high-risk money laundering and terrorist financing countries has positioned the country for a stronger recovery in the coming months. This is according to Ghana’s Finance Minister, Ken Ofori-Atta, The Financial Action Task Force (FATF), the initiative set up to tackle money laundering globally, grey lists a…
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Banks to use BoG’s bullion vans until new ones are imported – CID Boss
The Ghana Police Service has assured that it is working with stakeholders in the banking sector to provide adequate security for the carting of money within the country. The Inspector-General of Police, James Oppong-Boanuh about two weeks ago said he will stop his officers from providing protection for the so-called bullion vans used by banks…
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GRA set to implement full cashless drive from July 1
The Ghana Revenue Authority’s cashless drive, which will see GRA turning away any cash payments at any of its offices, will be fully enforced come Thursday 1st July 2021. The Authority has been working towards a full end to end digital tax process where taxpayers can file and pay their taxes from any part of…