Category: News
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China bauxite deal “old fashioned” model of exporting raw materials–Dr.Graham
The Coordinator of the Third World Network, Dr. Yao Graham has cautioned government against rushing into agreements with powerful nations such as china that may lead to Ghana’s raw material being exported. He argued for example that, the model being adopted by the government in signing the two-billion dollar bauxite deal with China is not…
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Bank crisis: Your deposits are safe – UniCredit assures customers
The management of uniCredit has called on its customers to remain calm and ignore rumours that the firm is facing challenges following the consolidation of its sister company – uniBank- with others into the Consolidated Bank of Ghana (CBG). The BoG merged uniBank, Sovereign bank, Beige bank, Royal bank and Construction bank under the new…
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Consolidated bank assesses skills of staff
Current employees of the Consolidated Bank Ghana Limited are to undergo assessment tests scheduled for September 15th and 16th, 2018. This follows the completion of application processes for all the workers of the bank. A memo to all staff and sighted by Citi Business News also stated that the tests will be carried out in…
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Ghana scores average in new World Bank report
Ghana scored an average point in the World Bank’s Country Policy and Institutional Assessment (CPIA) index for the year 2017. The index, which captures four main areas including Economic Management, Structural Policies, Policies for Social Inclusion and Equity, as well as Public Sector Management and Institution, scored Ghana 3.6 on scale of one to six.…
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Inflation for August increases 9.9 percent
Inflation for the month August has increased to 9.9 percent from the 9.6 percent recorded in July. This represents 0. 3 percentage point increase. Inflation measures the rate of change in the general price level of goods and services over a period of time. There is more details in this report. Speaking at press briefing,…
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Gov’t cuts sod for construction of steel company under 1D1F
The Ministry of Trade and Industry has cut the sod for the construction of a steel manufacturing company under government’s one district, one factory initiative(1D1F) in the Ningo Prampram District. The company, which is called B5 plus Ltd is injecting an amount of 80 million dollars into the project and is hoping to complete it…
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Menzgold’s woes won’t have huge impact on financial sector – Economist
The closure of parts of the operations of gold trading company, Menzgold, won’t significantly impact Ghana’s financial sector. Economist, Professor Godfred Bokpin, explained that the development is as a result of investors’ risk which regulators cannot be entirely blamed for. The SEC has ordered the immediate suspension of the gold deposit-taking business of Menzgold. A…
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GRA misses targets, contracts McKinsey to block loopholes
The Ghana Revenue Authority missed its revenue target for the first eight months of the year. The Authority fell short of its target by 1.8 billion cedis. As a result, it has engaged the services of consultancy firm, McKinsey, to help it block revenue leakages that persist in its revenue collection. The Commissioner General of…
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Labour unions, KPMG determine exit pay for Consolidated bank staff
The Ministry of Employment and Labour relations together with the Bank of Ghana, the receiver for the Consolidated bank as well as representatives of labour unions have met over the issues affecting the staff of the Consolidated bank. This is also to reduce any apprehension among the remaining staff. Present at the meeting were officials…
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Ghana, Cote d’Ivoire pursue joint cocoa sector reforms
Ghana and Cote d’Ivoire have agreed on at least twelve actions to be adopted by both countries as they collaborate to improve the cocoa sectors of their respective economies. Following a meeting between the Presidents of the two countries in March, the Ghana COCOBOD and its equivalent body in Cote d’Ivoire met in Accra between…