Category: News
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Cargill to invest more in Ghanaian cocoa farmers as it marks 10th anniversary
Cargill’s cocoa and chocolate business has held its 10th anniversary in Ghana by announcing plans for future investment and farmer support. Commenting during the anniversary celebration event at Cargill’s cocoa processing facility in Tema, Ghana managing director Pieter Reichert said, “Our 2022 roadmap is fully aligned with our global sustainability goals and consolidates our continuing…
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GAWU, ICU petition President over COCOBOD issues
The General Agricultural Workers’ Union (GAWU) and the Industrial and Commercial Workers’ Union (ICU) have expressed their displeasure over what they say are unwarranted remarks by the Board Chair of the Ghana COCOBOD. The labour unions say the development is inimical to the operations of the cocoa sector as it could block future investments. Mr.…
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Ghana’s economy grows by 7.4% in third quarter
Ghana recorded a 7.4 percent economic growth rate ending September 2018. This is according to the third quarter estimates released by the Ghana Statistical Service. The figure represents a decrease compared to the 8.7 percent recorded for the same period last year [2017]. For the third quarter of this year which spans July to September,…
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Producer Price Inflation drops to 6.5% in November
The Producer Price Inflation for November this year, reduced to 6.5 percent. The drop represents a 0.7 percentage point decrease relative to the 7.2 percent recorded in October. The Producer Price Inflation measures the average change over time in prices for the production of goods and services. The Acting Government Statistician, Baah Wadieh attributed the…
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Criminal investigations into banks’ collapse underway – Nana Addo
President Nana Addo Dankwa Akufo-Addo, has revealed that a Special Investigations Team has been put in place to undertake criminal investigations into the failures of all seven banks for possible prosecutions by the relevant State agencies. Addressing the media at an end of year press conference on Wednesday, 19th December, 2018, President Akufo-Addo assured that “no…
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Ghana must develop its own pipeline to transport gas—Prof Gyan-Baffuor
Minister for Planning, Prof. George Gyan-Baffour says it is of great importance that Ghana expedites the processes needed to build its own gas pipelines. According to him, such infrastructure will reduce Ghana’s dependence on the West African Gas Pipeline, which is currently used to transport gas from Nigeria to Ghana. His comments follow recent negotiations…
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BoG must strengthen non-bank sector of economy—IMF boss
Managing Director of the IMF, Christine Lagarde has charged the Bank of Ghana to address the weaknesses in the non-bank sector of the economy to make the financial sector more resilient. Madam Lagarde commended the Central Bank for undertaking various reforms to strengthen the banking sector, including the revocation of licenses of some seven Banks.…
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Pioneer Kitchenware to go off stock market by year end
The managers of the Ghana Stock Exchange are to remove Pioneer Kitchenware from the database of listed companies on the stock market by the end of 2018. This is because the company has failed to make any progress with reconciling its operational performance with the operators of the bourse despite several notices to do so.…
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Ghana, Spain deepen ties with Chamber of Commerce
The Spain – Ghana Chamber of Commerce has been launched. The event took place on Wednesday 12th December 2018, during a stakeholder and media ceremony held at the residence of the Ambassador of Spain to Ghana, Her Excellency Alicia Rico in Accra. The Spain – Ghana Chamber of Commerce among other things will primarily serve as a…
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Exchange rate pressures may push policy rate up—Economist
Pressures from the cedi depreciation could compel the central bank to increase the policy rate by first half of 2019, economist Adu Owusu Sarkodie has projected. According to him, the demand for dollars in December due to the festive season could have an effect on the exchange rate forcing the Bank of Ghana(BoG) to use…