Category: Local Economy
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Give timelines on no forex directive- GUTA to government
The Ghana Union of Traders Association (GUTA) is asking government to come clear on the timelines in which the directive given for the Bank of Ghana to seize forex support for some food items imported into the country will be implemented. According to him goods which were procured but are yet to arrive in the…
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No book keeping, no access to finance, Consolidated Bank to MSMEs
Micro Small and Medium Enterprises (MSMEs) will continue to face challenges in accessing finance from financial institutions over their inability to produce accurate records of their businesses. This is according to General Manager, Business Banking at Consolidated Bank Ghana, Michael Kwansa. Access to finance remains a key constraint to MSME growth and development in many…
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Finance Minister hints of favorable budget to revive economy
The Minister of Finance, Ken Ofori-Atta has hinted that the 2023 budget will roll out pragmatic policies that revive the economy from the grappling effect of the current crisis. The Finance Minister maintains that his tenure has seen some amount of significant improvement in the economy. He made these comments when he appeared before the…
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1st Deputy Governor inducted as fellow into Ghana Academy of Arts and Sciences
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari has been inducted as a Fellow into the prestigious Ghana Academy of Arts and Sciences(GAAS). The ceremony was held on Tuesday, 15th November 2022, in the Auditorium of the Academy in Accra. The Vice President of the Republic of Ghana, His Excellency…
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Accountants urged to proffer solutions to mitigate impact of COVID-19 on businesses
As part of efforts to mitigate the impact of Covid-19 and high inflationary rates on businesses, chartered accountants have been challenged to proffer solutions for their respective organizations. The Association of Chartered Certified Accountants (ACCA) believes that if practitioners are able to embrace innovative ways, businesses would not bear the brunt of the current economic…
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Exporters, Importers demand removal of 1% Covid-19 levy
The Importers and Exporters Association of Ghana says government must do well to remove the one per cent Covid 19 Health Recovery Levy in the 2023 budget statement following an assurance by Majority Leader, Osei Kyei Mensah Bonsu that the budget will be read before November 30 The 2021 budget proposed a one per cent…
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Effect of cedi depreciation on inflation expected to continue – GSS
The Ghana Statistical Service has cautioned that the continuous depreciation of the local currency could continue to adversely impact the country’s inflation. Recent Data released by Service shows that the continuous hikes in prices of food, transport, water, and other fuels pushed Ghana’s inflation rate to hit 40.4 percent for the month of October. Addressing…
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Ex-Goldman banker, Asante Berko arrested over alleged bribery scheme
Former Goldman Sachs Group Inc. banker and former Managing Director of the Tema Oil Refinery, Asante Berko, was arrested on charges that he orchestrated bribes to Ghanaian officials while employed at the investment bank. A six-count August 2020 indictment unsealed last week in federal court in Brooklyn, New York, accuses Berko of conspiring with at…
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Development Bank Ghana joins Ghana Association of Banks
The Development Bank Ghana (DBG) was officially admitted to the membership of the Ghana Association of Banks (GAB) on November 1, 2022. DBG, therefore, becomes the 25th Institutional Member, following the approval of the Executive Council of GAB. DBG is expected to complement the efforts of other Institutional Members of the Association in the drive…
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MASLOC adjudged sustainable project finance brand of the year
The Micro Finance and Small Loans Centre, MASLOC, was named the sustainable project finance brand of the Year at this year’s edition of the Ghana Credit Excellence Awards. The Chartered Institute of Credit Management Ghana named MASLOC the top-performing institution in delivering sustainable project finance for SMEs for the year under review. The event which…