Category: Top Stories
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PURC sets guidelines on competitive procurement for electricity generation capacity and energy
The Public Utilities Regulatory Commission (PURC) on June 9, 2023, approved the rate setting guidelines for competitive procurement and supply of electricity generation capacity and energy for the regulated electricity market. According to the Executive Secretary of PURC, Dr. Ishmael Ackah, the purpose of these guidelines is to promote transparency and efficiency in the procurement…
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Ken Ofori – Atta encourages African leaders to share in vision of Afreximbank
Ghana’s Finance Minister, Ken Ofori Atta has charged African leaders to share in the vision of the Pan- African bank to give deepened credence to the bank. He indicated that there is the need for Afreximbank to strategically position its self to meet the dynamic needs of the continent. According to him, although the bank…
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Africa’s reliance on foreign capital markets risky – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has highlighted the risks and costs associated with African nations relying on foreign capital markets. In his keynote address at the 30th AGM of the African Export and Import Bank (Afreximbank), President Akufo-Addo said it is important for Africans to build their indigenous financial institutions in order to achieve economic…
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#CitiBusinessFestival: Eight ways e-commerce is changing face of Ghana’s retail market
E-commerce has grown in Ghana at least over the last decade. The use of online platforms in transacting business has been on the rise and that aspect of the Ghanaian trade space continues to develop. As part of the Citi Business Festival 2023, the spotlight was put on Ghana’s retail and consumer market. The on-air…
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IMF bailout: Ghana to seal agreement with bilateral creditors soon
Government is yet to reach an agreement with bilateral creditors as part of processes to restructure Ghana’s debt following the US$ 3 billion loan from the International Monetary Fund (IMF). The process of getting an MoU with the creditors the IMF has said is a crucial step towards bringing the country’s debt to sustainable levels…
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Citi Business Festival enters third week; focuses on retail and consumer markets
The programmes lined-up for the 2023 edition of the Citi Business Festival being organized by Citi TV/Citi FM will continue today, Monday, June 19, 2023. This third week delves into the ‘Retail and Consumer Market’ It begins with the on-air radio series featuring Micheal Kottoh, Managing Partner at Konfidants on the topic, the changing scene…
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Cocoa farmers threaten to sell farms for galamsey if govt doesn’t increase price
Cocoa farmers in the Prestea-Huni-Valley Municipality of the Western Region have cautioned the government to immediately increase the price of cocoa, or they will continue to sell their cocoa farms for galamsey activities. The farmers, who spoke to Citi News in Damang, said the current cocoa price is a disincentive to farming, and that the…
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Govt to receive $6.2bn from multilateral partners – Ofori-Atta
Finance Minister, Ken Ofori-Atta has disclosed that the government is expected to receive about $6.2 billion from its multilateral partners between 2023 and 2026. While briefing the nation on the economy at the Ministry of Finance on Sunday, June 18, the Minister disclosed the government has come up with Ghana’s Post-COVID-19 Programme for Economic Growth…
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Cybersecurity expert urges BoG to strengthen regulation of loan apps to safeguard borrowers
Cybersecurity expert, Maximus Ametorgoh has called upon the Bank of Ghana to strengthen its regulation of loan applications, citing the potential risks faced by borrowers due to the proliferation of uncertified loan apps. His recommendation comes in response to recent actions taken by the Bank of Ghana, which has cracked down on 97 loan applications…
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IMF staff conclude visit to Ghana, acknowledge signs of economic stability
A team of experts from the International Monetary Fund (IMF), led by Stéphane Roudet, recently concluded their visit to Ghana, which took place from June 8 to June 15, 2023. The visit aimed to engage with Ghanaian authorities and stakeholders to assess recent economic developments and review the implementation of the Fund-supported program approved on…