Category: Top Stories
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Deputy CEO of GIPC stresses IMF’s role in Ghana’s economic recovery
In a recent Financial Economics Seminar held in Accra, Yaw Amoateng Afriyie, the Deputy CEO of the Ghana Investment Promotion Centre (GIPC), expressed his optimism regarding Ghana’s economic prospects despite the ongoing cost of living crisis and inflationary pressures. Afriyie emphasized the importance of leveraging the benefits of the International Monetary Fund (IMF) program to…
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Chamber of IPPs orders members to suspend power supply from July 1
There is an impending power crisis as the Chamber of Independent Power Producers (IPPs) has directed its members to cut supply to the national grid from July 1. The directive to nominate nothing and not declare an availability of power to the system operator is to last till July 8. Members of the Chamber include…
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Forex licences of Fidelity Bank, First National Bank temporarily suspended
The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited have been suspended temporarily. This is because, the two financial institutions have breached some sections of the Ghana Interbank Forex Market Conduct rules, according to the Bank of Ghana (BoG). The Central Bank which meted out the sanction has also fined…
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Govt yet to engage IPPs over debts as power crisis looms
With just a day to the expiration of the deadline given by the Independent Power Producers to shut down over outstanding arrears, the group is yet to meet government for a favorable response. The two parties were expected to meet this week for an agreement on demands for a 30 percent interim payment of the…
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We’re working to restore economy to full health – Akufo-Addo assures
The President, Nana Addo Dankwa Akufo-Addo, has reiterated his government’s commitment to making the ailing economy stronger. He said his government is working assiduously to restore the economy to full health. The economy in recent times has taken a downturn with prices of goods and services skyrocketing, unsustainable debt stock and wobbly currency causing the…
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Stop financing fossil fuels projects in Africa – CSOs to AfreximBank
A coalition of African NGOs working for Just Energy Transition is calling on AfreximBank to stop financing fossil fuel projects that pose a threat to the environment. The group accused AfreximBank’s financed fossil fuel projects in Nigeria, Mozambique, and East Africa of causing “significant socioeconomic impacts, including land grabbing, displacement, loss of livelihoods, increased poverty,…
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Excessive interest rate hikes negatively affecting trade and industry – Stephen Amoah
Deputy Minister for Trade and Industry, Dr. Stephen Amoah has raised concerns about the potential negative impact of excessive interest rate hikes on trade and industry, particularly in light of the persistent inflationary pressures experienced in the country. Dr. Amoah urged policymakers to exercise caution when adjusting interest rates, as their strategy may inadvertently worsen…
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Pensioner Bondholders suspend picketing at Finance Ministry
The Pensioner Bondholders Forum has suspended its planned picketing at the Finance Ministry to protest the non-payment of outstanding coupons. This follows the resumption of payments of the coupons by government on June 27. On June 22, the pensioner Bondholders began a third round of picketing at the Finance Ministry to demand seven outstanding coupons…
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Auto Assemblers Association urges govt to fast-track key policies for industry growth
In a bid to promote the sustainability and growth of the automobile industry in Ghana, the Automobile Assemblers Association of Ghana, has called upon the government, particularly the Ministries of Finance and Trade and Industry, to expedite the implementation of key policies outlined in the Ghana Automotive Development Policy. Speaking at the inaugural Ghana Automotive…
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Citi Business Festival: 8 insights from forum on agribusiness ecosystem
The fourth and last forum of the 2023 edition of the Citi Business Festival forum focused on the agriculture value chain. The forum aimed to explore the theme “Understanding and Leveraging Agribusiness Value Chains” and how the sector’s advantages can be tapped. Distinguished speakers participated in the event, sharing their insights on the topic. Kwasi…