Category: News
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Akufo-Addo must address nation on BoG ‘crisis’ – Ato Forson
Minority Leader Dr Cassiel Ato Forson has asked President Nana Addo Dankwa Akufo-Addo to address the nation on the government’s measures taken to resuscitate the Bank of Ghana (BoG). “Given the unprecedented collapse of our central bank, it is imperative for the President of Ghana to urgently address the nation. During this address, the President…
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Ghana pursues double taxation, bilateral investment treaties with Trinidad and Tobago
A delegation from the Ghana Investment Promotion Centre (GIPC), and the Ghana Export Promotion Authority (GEPA) have engaged authorities of Trinidad and Tobago about considering Double Taxation and Bilateral Investment treaties, to further enhance trade flow between the two nations. The talks were held, when the delegation met with representatives of Trinidad and Tobago’s Chamber…
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Cocoa farmers disappointed over discontinued road projects
A group calling itself the Concerned Farmers Association is complaining about plans by the Ghana Cocoa Board (COCOBOD) to discontinue its Cocoa Road construction program. COCOBOD announced that after the completion of ongoing projects, the institution will not embark on any further ventures in road construction because it does not form part of its core…
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Managing Director of TOR resigns
The Managing Director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson has resigned on health grounds, according to a letter sent to President Nana Akufo-Addo. Mr Hinson in his letter dated August 11, 2023, stated that he is unable to continue his role as the MD due to unforeseen health circumstances. “It has been…
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![The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]](https://citibusinessnews.com/wp-content/uploads/2023/08/Elikplim-Kwablah-Apetorgbor-512x375-1.jpg)
The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]
conoIn an era where energy is the lifeblood of progress, the role of independent power producers (IPPs) emerges as a beacon of innovation, resilience, and transformative change. As developing economies strive to carve a path toward prosperity and self-sufficiency, the significance of IPPs in bolstering energy security and driving economic growth cannot be overstated. This…
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Third International Coconut Festival launched in Accra
The African Coconut Group (ACG) is partnering with the Ghana Export Promotion Authority (GEPA) to host the third International Coconut Festival in Ghana, on the theme, “Investing In Ghana’s Coconut Sector for an Inclusive Climate and Social Resilience.” The launch of the 2023 edition took place on August 10th at the La Palm Royal Beach…
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Anti-LGBTQ+ bill could impact Ghana’s trade and investment opportunities – US Ambassador warns
The US Ambassador to Ghana, Virginia Palmer, has cautioned that the approval of the Anti-LGBTQ+ law might have repercussions on trade and investment within the nation. Ambassador Palmer emphasised that discriminatory legislation against LGBTQ+ individuals could tarnish Ghana’s reputation and discourage potential investors. Speaking in Accra, she remarked that the diverse communities contribute to Ghana’s…
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Tame inflation, GHS 60billion loss not excuse to shirk policy mandates – IMF tells BoG
The International Monetary Fund (IMF) has cautioned the Bank of Ghana against not fulfilling its policy mandate in the face of the loss it posted for the financial year ending 2022. According to the IMF, the Central Bank must despite the impairment ensure that inflation returns to the target of 8 percent. “The loss the…
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IMF justifies BoG’s GHS 60billion DDEP-induced loss
The International Monetary Fund (IMF) has backed the Bank of Ghana’s GHS 60 billion loss incurred in 2022. The Fund says the impairment which was brought on by the government’s Domestic Debt Exchange (DDE) was necessary to “restore macroeconomic stability and public sustainability.” The Bank of Ghana incurred the loss largely as a result of…
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AfDB projects inflation to remain above 44.7 percent until 2024
The African Development Bank (AfDB) is projecting that Ghana’s inflation rate will anchor at 44.7 percent for year ending 2023. According to the AfDB, interest rate is also to remain above 25%. This projection is coming on the back of a three-month continuous increase in inflation to 43.1% in July 2023. This projection is contained…