Category: Local Economy
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Bank of Ghana, EMTECH launches new regulatory sandbox to promote FinTechs
In line with its commitment to develop an enabling and inclusive regulatory environment that promotes FinTechs and support innovation, the Bank of Ghana in partnership with EMTECH Service LLC, has launched a regulatory and innovation sandbox pilot. According to the Central Bank, the regulatory and innovation sandbox is a supportive and controlled policy environment that…
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139,331 jobs created from 1D1F so far – Alan Kyerematen
The Trade and Industry Minister-designate, Alan Kyerematen says 139,331 jobs have so far been created from the government’s One District, One Factory initiative. Mr. Kyerematen, who announced this when he appeared before the Appointments Committee of Parliament on Friday, February 26, 2021, also disclosed that “76 of the projects are currently operational whilst 107 of…
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GCNET appeals against Labour Court ruling on redundancy pay
Management of the Ghana Community Network Services Limited (GCNet) has filed an application for an appeal against the recent Labour Court ruling that directed the company to pay redundancy compensation based on provisions in its Human Resource Policy Manual. According to them, the Labour Court inappropriately determined the matter which has been at the core…
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KIA workers to withdraw services to demand removal of MD
Local and international departures at the Kotoko International Airport (KIA) are expected to be disrupted this morning following a call for the withdrawal of services of all general staff at the Airport from 6 am of Friday February 26, 2021 until further notice. The call was made by the Divisional Union of the Public Services…
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Support for indigenous companies needed to create more jobs – Opoku Prempeh
Energy Minister-designate, Dr. Matthew Opoku Prempeh says achieving the Ghana Beyond Aid vision, can only be possible if government and other stakeholders ramp up their support for local companies, to ensure they do not just thrive in Ghana, but flourish in other parts of the world. The comments were made following a tour of indigenous…
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Gas sub-sector becoming a fiscal burden to the country – IES study
The Institute for Energy Security’s (IES’) study of the petroleum industry reveals that the natural gas sub-sector is rapidly becoming a fiscal burden to the country due poor energy strategies, and delays in building the necessary and relevant infrastructure to off-take the processed domestic gas. Government’s poor handling of the gas sub-sector is greatly contributing…
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Ghana cedi expected to be stable for the rest of 2021
Senior Economic Analyst with Databank, Courage Kingsley Martey, is confident the cedi will sustain its stability throughout the year 2021. The cedi, which began the year selling at 5 cedis 76 pesewas, has remained strong so far against the US dollar. However, there are concerns that it could come under pressure when the global economy…
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GUTA laments Benin’s withdrawal from ECOWAS Trade Liberalization Scheme
The Ghana Union of Traders Association, GUTA, is calling on government to engage in talks with Benin over the latter’s decision to withdraw from the ECOWAS Trade Liberalization Scheme. According to GUTA, the situation stands a chance of hampering the business of its members trading with the country. In an interview with Citi Business News,…
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Don’t charge new rates until 3rd quarter – Shipping lines urged
The Concerned Freight Forwarders and Traders Association of Ghana has added its voice to calls on shipping lines to suspend the scheduled increase in shipping rates from March 1, 2021. Last week some stakeholders at the Tema Port raised concerns over an impending increase in Shipping Line and handling charges; insisting the charges are not…
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SEC warns public against investing in Wiseling Online Investment Company
The Securities and Exchange Commission (SEC) has cautioned the public against investing in Finland-based company operating in Ghana, Wiseling Online Investment Company. SEC says it has not licensed the company to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act…