Category: News
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New managers of ECG will end ‘dumsor’–MiDA
The Millennium Development Authority (MiDA) has assured that the coming in of the Power Distributing Services (PDS), which is the motherboard of Meralco Consortium, the company chosen to manage the Electricity Company of Ghana (ECG) will completely end power crisis in the country. This was revealed to Citi Business News on the sidelines of an…
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Energy Commercial bank IPO fails; seeks strategic investors
Energy Commercial Bank is presently in discussions with some strategic investors to acquire a stake in the bank through a private placement in order to meet the Bank of Ghana’s minimum capital requirement of 400 million cedis. The discussions are expected to be completed soon to enable the bank meet the December 31 deadline. A…
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Peasant Farmers Association cautions gov’t against GMOs
As Ghana remembers its farmers today and use the day to celebrate their efforts, the Peasant Farmers Association of Ghana (PFAG) has called for circumspection in introducing Genetically Modified Organisms (GMO) in seeds. According to the farmers, “the call for introduction of GMOs to salvage the local seed industry is only a strategy by multi-national…
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National carrier:Pursuit for partner still on course –Minister
Aviation Minister, Joseph Kofi Addah has clarified that the government is yet to conclude the processes that will lead to the selection of a partner for the new home based carrier. According to him, the Memorandum of Understanding (MoU) with Ethiopian Airlines is but one of the numerous agreements signed with other interested airlines. Recent…
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Agric in focus: Agric startups lament low local investments
Access to funding may not be a challenge peculiar to farmers alone. This is because startups in the agric space providing modern techniques to boost production in the sector are facing the same challenge. In the following report, some owners of startups within the agric value chain, comment on the issue. Click to listen to…
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Agric in focus: Cocoa farmers seek new livelihoods
Cocoa plays an important role in the economy of Ghana. The cocoa industry employs approximately 800,000 farmers spread over six out of the ten regions of Ghana. The crop generates about 2 billion dollars in foreign exchange annually and is a major contributor to Government’s Revenue and GDP which is the total value of all…
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Energy Bank engages strategic investors to meet capital requirement
Energy Commercial Bank is presently in discussions with some strategic investors to acquire a stake in the bank through a private placement in order to meet the Bank of Ghana’s minimum capital requirement of GHS400 million. The discussions are expected to be completed soon to enable the bank recapitalize to the tune of GHS400 million…
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Impact Enterprises to fetch Ghana$5bn by 2030
Ghana could accrue some US$5 billion from Impact Enterprises by 2030 should government pass policies and provide a regulated environment for such businesses. This is according to UK based consultants of impact investments, the Global Steering Group for Impact investment,(GSG). Impact Enterprises are companies that have the objective to create maximum positive impact on the…
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Bailing out victims of financial scams sends bad signals-Prof Quartey
Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has cautioned government against bailing out customers of financial scams in the country. According to him, government’s decision to pay customers of DKM for the losses they incurred when the company collapsed, will only embolden other victims of similar…
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Salaga market left to rot as reconstruction works are abandoned
Traders at the new Salaga London market in Accra are calling on government to complete the old market to facilitate their trading activities. The traders who say they have complained several times to government but seen no positive results say they are recording losses as a result of the situation. According to the traders, they…