Category: News
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IMF boss Christine Lagarde visits Ghana on December 16
The Head of the IMF, Christine Lagarde is scheduled to visit Ghana ahead of the country’s completion of the program with the Fund. Miss Largarde’s trip to Ghana is scheduled for December 16 to 18, 2018. Deputy Information Minister, Pius Hadzide disclosed this at a media briefing on Wednesday [December 12, 2018]. According to him,…
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ADB seeks shareholders’ approval to raise GH¢380m for recapitalisation
ADB has announced that it will embark on a renounceable right to issue to raise 383 million cedis to help it meet the minimum capital requirement. This decision is however subject to shareholders’ approval at the bank’s Annual General Meeting. The AGM is scheduled for Thursday, December 20, 2018. According to ADB, it is also…
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November inflation drops to 9.3%; lowest in 5 years
The inflation rate for November 2018 has dropped to 9.3% percent, down by 0.2% percent from the 9.5% percent recorded in October 2018. According to the Ghana Statistical Service (GSS), the figure now is the lowest rate recorded in the past five years since 2013. Inflation measures the rate of change in prices of goods…
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Parliament approves about GHS500m for Energy Ministry
Parliament has approved about 500 million cedis for the Ministry of Energy to spend in the 2019 fiscal year. The amount is expected to be used to enhance activities in the Power sub sector and the Petroleum Sub-sector. Speaking on the floor of parliament, the Chairman of the Committee of Mines and Energy, Emmanuel Akwasi-Gyamfi…
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DVLA to inspect TIN from January 2nd 2019
With just about 2 weeks to the end of the year, the Driver and Vehicle Licensing Authority (DVLA) has emphasized that it will insist on Tax Identification Numbers (TIN) before vehicles are registered in 2019. The DVLA in a statement it issued two weeks ago, stated that effective January 2, 2019, a Tax Identification Number…
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The Seed Funds partners Kenya’s 4G Capital NxtGen
The Seed Funds (TSF) Savings & Loans company limited, has partnered with 4g capital (a Kenya based Mauritius registered) fintech company to launch the NXTGEN platform in Ghana. NXTGEN platform will enable TSF get deeper the underserved MSME sector across Ghana in an automated and cost effective way. TSF will use the NXTGEN platform to…
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Ghana to comply with WTO trade facilitation rules by 2020
Ghana has set 2020 to fully comply with the World Trade Organization’s agreement on Trade Facilitation. The Trade Facilitation Agreement is to expedite the movement, release and clearance of goods at the port. When implemented fully, the agreement will address the issue of slow customs clearance, duplication of border agencies and documents and also reduce…
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Fish farmers laud ‘Aquaculture for food & jobs program’
The Ghana Aquaculture Association wants the Ministry of Fisheries and Aquaculture Development to improve its surveillance and reduce the instances of diseases even as it considers implementing the aquaculture for food and jobs program. The group has lauded the move but fears the gains could be eroded with the presence of instances of diseases at…
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GRA to sanction officials in bribery allegations over TIN registration
The Ghana Revenue Authority (GRA) has cautioned that it will not spare any of its officers who will be implicated in taking bribes before registering people for Tax Identification Numbers (TIN). There have been allegations that some officers have been demanding money from taxpayers before registering them. The issue is also cited as contributing to…
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Energy Bank-First Atlantic Bank merger needs additional investor—Consultant
A Banking Consultant, Dr. Richmond Atuahene has stated that the proposed merger between Energy Commercial Bank and First Atlantic Bank will require strategic investors to meet the 400 million cedis capital requirement before the deadline. Describing the issue as crucial, he maintained that the two banks have little time to seek new investors hence must…