Category: Local Economy
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Government urged to review agricultural policies to boost food production
The Chamber of Agribusiness Ghana is calling for a relook at government agricultural policies as part of efforts to enhance food production in the country. The Chamber insists that most of government’s policies and interventions have not yielded the desired results. Speaking in an interview with Citi Business News, Chief Executive Officer of the Chamber,…
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Sanctions for unregistered SIM cards to begin today
SIM card users in Ghana who have not re-registered their SIM Cards will start facing punitive actions from Monday, September 5, 2022. According to a document from the National Communications Authority, the initial punitive measures will include the re-routing of outgoing calls for special messages to be played. Some numbers will also be blocked…
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Investment in technology critical to economic growth – Elsie Addo Awadzi
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi has underscored the need for more investments to be made in technology to ensure economic growth. Madam Elsie Addo Awadzi believes though the COVID-19 pandemic gave rise to the use of technology, there are some gaps in access to it. Delivering her speech as…
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Ghana EXIM bank launches GEXIM MiG town
The Ghana Export-Import Bank (GEXIM) on Tuesday 30th August 2022 launched its first GEXIM Made-In-Ghana (MiG) Town at its head office, located at the Africa Trade House in Accra, opposite Cedi House. The GEXIM MiG Town is an outlet that stocks assorted, innovative and well packaged Made-In-Ghana products including food and ingredients, beverages, skin and…
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Fuel prices to go up between 5% and 10% – IES
Consumers of petroleum products should expect fuel prices to go up between 5% and 10% at the various pumps across the country from September 2022, According to the Institute for Energy Security, IES, this will add close to 70 pesewas to the current prices. Currently, a litre of petrol is going for about GHS11 on…
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17 OMCs did not pay GH¢249.8m duties, taxes between 2022, 2021 – Auditor General
Seventeen Oil Marketing Companies did not pay duties and taxes totaling GH¢249,800,802.28 on 219,995,530 litres of fuel products lifted for the period January 2020 to December 2021. The Auditor General’s report on the audit of Ministries, Departments and Agencies noted this discrepancy from the Integrated Customs Management System (ICUMS). Twenty-eight Oil Marketing Companies failed to…
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Deepened stakeholder collaboration needed to sanitize forex bureau sector – BoG
The Bank of Ghana is urging stakeholders within the financial sector to step up their collaborative efforts to ensure that the forex bureau sector is sanitized of all deliberate market practices that are fueling the cedi’s continuous depreciation. This, according to the Central Bank forms part of efforts to ensure the stability of the local…
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$750m Afreximbank loan received in full; $37m set aside for debt resolution – Gov’t
Deputy Finance Minister, John Kumah says government has received the full loan amount of $750 million from the African Export-Import Bank (Afreximbank). The disclaimer was issued after ranking member on the Finance Committee in Parliament, Cassiel Ato Forson made comments indicating the bank account of government had received only $713 from the total amount in…
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Office of the Registrar of Companies to delist 2,584 dormant companies from Companies Register
The Office of the Registrar of Companies (ORC) has begun processes to continue striking off 2,584 dormant and defaulting Companies from its Companies’ Register. This exercise is being carried out in accordance with Section 289 of the Companies Act, 2019 (Act 992) which connotes that a Company can be stricken off the Companies Register for…
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Col. Damoah removed as Customs Commissioner in the wake of Labianca saga
The Commissioner of the Customs Division of the Ghana Revenue Authority (GRA), Colonel (Rtd.) Kwadwo Damoah, has been directed by the President to hand over his duties to an acting Deputy Commissioner at the Authority, Seidu Iddrisu Iddisah. Col. Damoah had been serving in his position despite his contract expiring in October 2021, according to…