Category: Top Stories
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2021 Citi Business Festival takes off today
The 2021 edition of the Citi Business Festival starts today, Tuesday June 1, 2021, with an array of radio and TV programmes. The month-long festival of business events and on-air activities provides inspiration, business ideas and information for persons who are starting, building or growing their businesses. This year’s Citi Business Festival will feature virtual…
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ExxonMobil pulls out of Ghana, abandons oil fields
US oil and gas company, ExxonMobil has pulled out of Ghana, abandoning its exploration activities in the Deepwater Cape Three Point Block in the Western Region. The company in a letter to the Minister of Energy, Matthew Opoku Prempeh, copied to the Petroleum Commission and Ghana National Petroleum Corporation, (GNPC) and sighted by Citi Business…
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BoG cuts policy rate to 13.5%, first time since March 2020
In its quest to foster economic growth and ensure financial stability in response to developments on the local and external front, the Monetary Policy Committee, MPC, of the Bank of Ghana, BoG, at the 100th Monetary Policy Committee Meeting, has for the first time since March 2020 reduced the policy rate to 13.5 percent. This…
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Peasant Farmers concerned about Development Bank Ghana’s mode of operation
The Peasant Farmers Association of Ghana says it is disappointed that the yet to be established Development Bank Ghana will not deal directly with farmers. The bank is a major part of the GHS100 billion Ghana CARES ‘Obaatampa’ programme aimed at dealing with the devastating economic effects of the COVID-19 pandemic. Head of Programmes and…
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Take advantage of AfCFTA to sell more cocoa – Edward Boateng
Former Ambassador to China, Edward Boateng, says Ghana must focus on taking advantage of the African Continental Free Trade Area (AfCFTA) agreement on the sale of its cocoa. His comments come on the back of reports that China had begun the production of cocoa. According to him, “I think what we should be looking at is…
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Economist urges government to secure concessionary loans to reduce debt
Economist, Dr. Lord Mensah is urging the government to go in for concessionary loans instead of commercial loans from the Eurobond market. This comes after plans by government to raise as much as US$1 billion through the sale of sustainable bonds by July this year. According to the Minister of State at the Ministry of…
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Ghana’s debt crosses GHS300 billion mark as debt-to-GDP ratio drops to 70.2%
Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended 2020 at GHS291.6 billion, saw about GHS13 billion being added in the first quarter of 2021. This represents an increase of about 4 percent, and brings Ghana’s total public debt as…
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Citi Business Festival starts on June 1
The 2021 edition of the most anticipated business programme, the Citi Business Festival will start on Tuesday, June 1. The Citi Business Festival is a month-long initiative marked with on-air and outdoor events held annually in the month of June to equip the Ghanaian business community with strategies needed to grow and scale up their…
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Government spent over GHS65 billion to achieve SDG targets via MDAs in 2019, 2020
Over GHS65 billion was spent by the government on working to achieve the Sustainable Development Goals (SDGs) through the Ministries, Departments and Agencies (MDAs) in 2019 and 2020. This is according to the Finance Ministry’s SDGs 2020 report. “Total spending on the SDGs by the government through MDAs came to GHS31,448,312,790 in 2019 and GHS35,774,648,335…
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Transportation in the capital: Businesses opt for tricycles due to lower cost
You may have noticed a tricycle in your neighbourhood either carrying foodstuffs, bags of sachet water or refuse. They clearly have become the new normal for carting moderate quantities of goods, although this wasn’t the case some years ago. They have become very instrumental in the logistics of some businesses lately, especially in the capital…