Category: Top Stories
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Adverse impact of COVID-19 causes decline in exports and imports – BoG data
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for January 2021, indicate that the country’s external sector continues to suffer adversely from the impact of the novel coronavirus pandemic. According to the data, the value of the country’s total exports decreased to 1.4 billion dollars in 2020, from the $1.5…
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Monetary Policy Rate maintained at 14.5% for fifth time
In its quest to review developments in the economy and take the necessary steps to ensure financial and economic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 14.5 percent. This is the fifth time the Central Bank has maintained the policy rate at 14.5 percent. In a…
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Continue with bold financial sector reforms – Nana Otuo Acheampong urges BoG Governor
Banking Consultant, Nana Otuo Acheampong has welcomed the expected renewal of the tenure of office of the Governor of the Bank of Ghana Dr. Ernest Addison by President Akufo-Addo for another 4 years. The President back in 2017, forwarded Mr. Addison’s name to the Council of State for consideration and approval as the Governor of…
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Akufo-Addo renews tenure of BoG Governor, Dr. Ernest Addison
The tenure of the Governor of the Bank of Ghana, Dr. Ernest Addison has been renewed by President Nana Akufo-Addo for another four years. His current tenure which begun on 1st April 2017 will end at the end of March 2021. According to Citi Business News sources at the Central Bank, President Akufo-Addo has given…
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IES fears return of ‘dumsor’ if government refuses to take over Ameri plant
The Institute of Energy Security (IES) has predicted a complete shutdown in power supply in Ghana following the lack of preparedness by the government to take over the Ameri Power deal. The Ameri deal was signed by the government in 2015 at a total cost $510 million to provide 230 megawatts of power for five…
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Frances Adu-Mante appointed Board Chair of Absa Bank Ghana Limited
Frances Adu-Mante appointed Board Chair of Absa Bank Ghana Limited Absa Group is pleased to announce the appointment of Mrs Frances Adu –Mante as Board Chair of Absa Bank Ghana after securing the necessary regulatory approvals. Mrs Adu-Mante, who has served on the Board since September, 2017 succeeds Mr. Charles Alexander Cofie, who completed his…
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Introduce quota system to boost sale of local poultry products – Poultry farmers to government
The Greater Accra Poultry Farmers Association is calling on the government to introduce a quota system that would mandate retailers of poultry products to sell local produce. The association believes this would help grow the local poultry industry and make them progressively competitive. As of 2019, Ghana is reported to have spent over 300 million…
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GSE continues to rebound as it gains 4% in January 2021
The positive performance of the Ghana Stock Exchange in the last quarter of 2020 has continued into the first month of 2021, with the local bourse returning to investors a gain of 4.3 % in January 2021. This is the first gain recorded in January since 2018. The years 2018 and 2019 saw the local…
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Fuel prices to go up slightly in 1st pricing window of February – IES
Consumers of petroleum products should be paying slightly higher prices for the fuel they purchase at the country’s various pumps for the next two weeks which is the first pricing window for February, 2021. According to an analysis by the Institute of Energy Security, IES, the increase can be attributed to the 3.9% increase in…
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UMB appoints Nana Kwadwo Dwemoh Benneh as Chief Executive Officer
After five years of dedicated and growth-oriented service to Universal Merchant Bank (UMB), Mr. Benjamin Amenumey has completed his tenure as UMB’s CEO making way for the appointment of Nana Dwemoh Benneh as the bank’s new Chief Executive Officer, following the approval of the Central Bank. In a statement issued by UMB, Mr. Benjamin Amenumey…