Category: News
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thyssenkrupp wins major order for fertilizer plant in Egypt
thyssenkrupp’s plant engineering business has won a major order from the Egyptian chemical and fertilizer manufacturer NCIC (El Nasr Company for Intermediate Chemicals). The order for the engineering, procurement and construction (EPC) of a new fertilizer complex was signed in Cairo on March 17, 2019. thyssenkrupp is realizing the project in a consortium with the…
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Digital address now a requirement for business registration–RGD
Effective Monday 25th March 2019, persons who seek to register their businesses will require a digital address code for the business before being able to complete the registration process. This is according to the Registrar Generals Department(RGD). The Registrar General Jemima Oware, said the move is part of the government’s efforts to move Ghana up…
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Court joins AG to Receiver vs uniBank case
An Accra High Court has joined the Government of Ghana in a case in which Dr. Kwabena Duffuor and 16 others are challenging the receiver of now-defunct bank uniBank, Nii Amanor Dodoo over the revocation of the bank’s license. In its ruling, the court, presided over by Ms Justice Abena Dadzie, stated that: “It is…
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Awake Purified Drinking Water rescues Okwampa, Ayensuako residents from water crisis
Two communities in the Awutu-Senya East District in the Central Region who had challenges accessing potable water have been rescued by Awake Purified Drinking Water. Awake, charity-driven purified bottle water which highlights Kasapreko Company Limited’s Corporate Social Responsibility across communities in Ghana, has commissioned mechanized borehole systems and donated huge water storage tanks in both…
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GRIDCo transmission tower collapses; company suspects vandalism
One of the transmission towers near the Head office of Ghana Grid Company (GRIDCo) at Tema has fallen over into another tower. Officials of the GRIDCo discovered the fallen tower on Monday morning and noted that the bolts holding the pylon had been loosened causing it to fall over. Before the discovery, customers from Accra…
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Ghana among RMB’s 2019 Top 10 Investment Destinations in Africa
Ghana remains one of the top 10 attractive investment destinations in Africa even after the worst banking crisis in its history. Studies by Rand Merchant Bank Ltd, RMB (Corporate and Investment Banking arm of FirstRand Limited) show that a growth will be driven predominantly by the hydrocarbons sector, with a continued ramping-up of oil and…
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Banks are ready to take advantage of Payment Systems and Services Bill
The Absa Group Limited, formally Barclays Africa Group Limited is confident the passage of the Payment Systems and Services Bill into Law will urge banks to grow in the country. The Payment Systems and Services Bill which was passed into law is expected to promote innovation in the design of new secure electronic money products and payment services,…
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Cedi depreciation causes fuel price hike for a second time in March
Some Major Oil Marketing Companies (OMCs) have slightly adjusted upward the prices of petrol and diesel. Checks at various fuel stations showed that Shell and Total have increase the prices of petrol and diesel by six pesewas. The two companies are selling a litre of petrol and diesel for GHS5.24 representing a 1.16 percentage increase…
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Gov’t assures beverage industry of zero duties on imports of equipment
A Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay has called on Small and Medium Beverage Enterprises to take advantage of the opportunities in the beverage industry for the industrial transformation of Ghana. Speaking at the 3rd Edition of the Ghana Beverage Awards Mr. Ahomka-Lindsay lauded the organizers of the awards, Global Media Alliance for…
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Using short term measures to support cedi not sustainable—Banking Consultant
The local currency, the Ghana Cedi experienced its strongest performance against the US Dollar in the past three months after gaining 8 pesewas to end Friday March 22, 2019, selling at GHC 5.16 on the interbank foreign exchange market. Historically, the Ghanaian Cedi reached an all-time high of 5.60 against the dollar at some forex…