Category: Top Stories
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Ghana Maritime Authority to speed up processes for passage of Cabotage law
The Ghana Maritime Authority (GMA) says it has begun exploring ways to fast track the processes of getting the Cabotage Law in full force. Cabotage deals with the transportation of goods or passengers between two places in the same country by a transport operator from another country. According to the Authority, once the law is…
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Halt implementation of Insurance Act 2021 – GUTA to Government
The Ghana Union of Traders Association (GUTA), is calling for the suspension of the implementation of the Insurance Act 2021 due to some clauses the association finds problematic. Per the law, importers are to insure their goods only with local insurance companies. The law also prescribes a jail sentence for importers who do not comply…
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BoG urges companies to uphold corporate governance practices
Governor of the Bank of Ghana, Dr. Ernest Addison, has reiterated the need for the financial sector to uphold good corporate governance practices to enhance efficiency. According to him, corporate governance plays an important role in the financial sector as it helps to create a strong banking sector and enhance their financial intermediary role in…
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Ghana removed from money laundering list
Ghana is no longer on the global list of high risk money laundering and terrorist financing countries, after it enacted various legislations to criminalise money laundering and fight the crime. This was made known by global money laundering and terrorist financing watchdog, Financial Action Task Force (FATF) on Friday, June 25, 2021. The country was…
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Ofori-Atta charges AfDB to tackle problems hindering Africa’s post-COVID-19 recovery
Finance Minister, Ken Ofori-Atta has tasked the African Development Bank (AfDB) to show leadership in addressing key risks being faced by the continent, to ensure a successful socio-economic recovery from the Coronavirus pandemic. Mr. Ofori-Atta made the remarks during his welcome statement for the 2021 Annual Meetings of the African Development Bank Group, which has…
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Form strategic alliances to capitalize under AfCFTA – Kobla Nyaletey advises exporters
One of the ways Ghanaian exporters can increase access to funding as they explore existing opportunities within the Africa Continental Free Trade Area (AfCFTA) is for them to form strategic business alliances, Kobla Nyaletey, Director of Markets of Absa Bank Ghana and Nigeria has said. He believes such a move will save businesses in export…
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Bawumia stresses on importance of digitalizing land registration processes
Vice President Dr. Mahamudu Bawumia says digitalizing land registration processes is the best way to improve the current state of the economy. Speaking at a national symposium on the Land Act, 2020, Dr. Bawumia said the only way Ghana can make the much-needed strides in development is when technology becomes the driving force for all…
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Importers unhappy with custodial sentencing clause in Insurance Act 2021
The Importers and Exporters Association of Ghana has raised concerns over a custodial sentencing clause in the Ghana Insurance Act 2021. The law prescribes a jail sentence for importers who do not comply with the mandatory Marine Insurance Policy. The association believes the law is not business-friendly and counterproductive hence must be removed from the…
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Construction Chamber calls on government to constitute Road Fund Board
The Ghana Chamber of Construction Industry has called on the government to immediately constitute the Road Fund Board. The Chamber said the constitution of the board would ensure its members who are owed monies as far back as 2017 are paid. Chief Executive Officer of the Ghana Chamber of Construction Industry, Emmanuel Cherry, stated that…
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Fix TOR and BOST to cushion consumers from fuel price hikes – COPEC
As fuel prices continue to rise at the pumps, the Chamber of Petroleum Consumers (COPEC) says the situation will not change until institutions like the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited run at full capacity. According to COPEC, once the entities commence operations, they should be able to…