Category: Top Stories
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Spare parts dealers in talks with assembly plants to manufacture car parts
Co-chairman of the Abossey Okai Spare Parts Dealers Association, Clement Boateng says negotiations are underway between his association and some car assembly plants established in Ghana. In addition to Volkswagen, Sinotruk and Kantanka who have been operating assembly plants in Ghana, Nissan last month began the setting up of its plant in the country, as…
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COPEC predicts 5% increase in fuel prices
The Chamber of Petroleum Consumers (COPEC) is predicting an increase in prices of fuel in Ghana in the coming days. COPEC believes the increment is likely to be seen in the second pricing window in December 2020. The Chamber indicated that the slight depreciation of the cedi among other things is a reason for this…
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BoG, Monetary Authority of Singapore sign MoU to support SMEs
The Bank of Ghana (BOG) has signed a Memorandum of Understanding (MOU) with the Monetary Authority of Singapore (MAS) to collaborate in promoting Small and Medium-sized Enterprises (SMEs) through the use of technology. This is a follow up to earlier engagements between the Governments of Ghana and Singapore, which culminated in an understanding between the…
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Nigeria to re-open land borders soon – President Buhari hints
After more than a year of closing its frontiers to stop the smuggling of products from neighbouring West African states into the country, President of Nigeria, Muhammadu Buhari has stated that Nigeria is looking to reopen its borders ‘as soon as possible’. This is according to the Premium Times website. Mr. Buhari stated this during…
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World Bank approves $60 million to strengthen resilience of Africa’s agricultural sector
The World Bank Board of Directors has approved a $60 million International Development Association (IDA) grant to help African countries strengthen the resilience of their agricultural sectors to the threat posed by climate change. The grant fulfils the World Bank’s commitment at the 2019 United Nations Climate Summit to increase its support to the CGIAR,…
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Inflation drops to 9.8%; lowest rate since outbreak of COVID-19
Ghana has for the first time since the outbreak of the novel Coronavirus pandemic in the country recorded a drop in inflation below 10%. The year-on-year inflation rate for November which is 9.8% percent, is lower than the revised inflation target of about 11 percent announced in the 2020 mid-year budget statement. The figure also…
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Bui Authority Bill will help diversify our revenue sources – Fred Oware
Bui Power Authority is anticipating an increase in revenue in the coming years. Speaking to Citi Business News, Chief Executive Officer of the Authority, Fred Oware, said the passage of the Bui Power Authority bill will help diversify the financial streams of his outfit. He indicated that, “We think that we should operate quite profitably,…
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Amalgamated Mutual Fund PLC begins partial bailout payments to clients of collapsed FMCs
The Amalgamated Mutual Fund PLC (The AM Fund) has commenced cash payments under the partial bailout scheme to clients of the Fund Management Companies (FMCs) for which the Official Liquidator is yet to obtain Liquidation Orders from the courts. This follows the announcement by the Securities and Exchange Commission (SEC) on November 18, 2020, that…
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Cocoa Barometer 2020 demands system change to end poverty within cocoa sector
A new report released by the Cocoa Barometer analysing trends within the cocoa sector has highlighted the need for government and industry stakeholders as well as farmers and civil society organisations, to outline policies to end deforestation and human rights abuses within the cocoa supply chain. According to the report dubbed, ‘Cocoa Barometer 2020’, after…
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Insure your premises against eventualities – SIC urges businesses
SIC Insurance Company has reiterated the need for businesses to begin paying critical attention to insuring their buildings. Over the weekend, fire gutted the first floor of the GBC Liberty House Branch at Katamanto in Accra. Head of Corporate and Special Risk at SIC, Emmanuel Simpiney-Mensah, emphasized that the role of insurance in minimizing business…