Category: Top Stories
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1D1F: We’ve supported 48 companies not 60 – Trade Ministry clarifies
The Ministry of Trade and Industry has revealed that 48 companies have received a total disbursement of 14 million Ghana Cedis through the One District One Factory (1D1F) Initiative, facilitated by the Ghana Exim Bank. The objective of the 1D1F program is to support the private sector in establishing at least one manufacturing enterprise in…
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Solid business models provide framework for sustainable growth – SMEs told
Dr. Andrews Ayiku, lecturer at the University of Professional Studies, Accra (UPSA), shared valuable advice at the Citi Business Festival forum held on Tuesday, June 13, 2023, on the topic of ‘Building Resilient SMEs.’ During his engaging session, Dr. Ayiku stressed the importance of having a well-defined business model. He expressed concern over business owners…
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Absa Bank’s Audrey Abakah advocates for discipline, customer understanding in SME success
Audrey Abakah, the Director for SME Agency, Banking, and Partnership at Absa Bank, delivered crucial advice to business owners during the second forum of the Citi Business Festival held on Tuesday, June 13, 2023. Abakah emphasized the significance of cultivating the right mindset, particularly discipline, as a key driver of success in business. Speaking passionately…
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Ruka Sanusi highlights transformational leadership, team alignment as key drivers of resilient SMEs
Ruka Sanusi, the Executive Director of the Ghana Climate Innovation Center, shared some invaluable insights on building resilient small and medium-sized enterprises (SMEs). on the Citi Business Festival 2023 held today, Tuesday, June 13, 2023. With the theme centered on ‘Building resilient SMEs,’, Sanusi emphasized the importance of transformational leadership, team alignment, and other critical factors…
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#CitiBusinessFestival on-air series: Excessive taxes crippling businesses – govt told
Ismail Ibn Ibrahim, Deputy Managing Partner at Ali-Nakyea and Associates, shared valuable insights while speaking on the topic “Navigating the tax maze as an SME” during the Citi Business Festival on-air series on Tuesday, June 13, 2023. In his discussion, he expressed reservations about the introduction of new taxes and raised concerns about the disregard…
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Citi Business Festival: Forum on Building Resilient SMEs comes off today
The second forum of the Citi Business Festival 2023 will be held today, Tuesday, June 13, 2023, on the topic, ‘Building Resilient SMEs.’ The one-hour 30 minutes in-depth conversation will focus on how to build successful and resilient SMEs even in difficult economic times. It will be live on Citi TV at 11 am. The panel will…
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Moody’s upgrades Ghana’s local currency ratings from Ca to Caa3, stable outlook maintained
Moody’s Investors Service (Moody’s) has upgraded the Government of Ghana’s local currency long-term issuer rating from Ca to Caa3, and the stable outlook has been maintained. Additionally, Moody’s has upgraded the local currency senior unsecured MTN program rating from (P)Ca to (P)Caa3. This upgrade comes as a result of the completion of the government’s primary…
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T-bills auction: Govt treasury bills oversubscribed by 6.4% amid rising borrowing costs
The government’s treasury bills target of ¢2.63 billion saw an oversubscription of about 6.4%, indicating strong investor demand. However, this increase in demand comes with a growing concern over the rising cost of borrowing. The Bank of Ghana’s figures reveal that interest rates have been consistently rising for the past eight weeks, raising questions about…
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Fitch affirms credit ratings of some Nigerian banks operating in Ghana
Fitch Ratings has affirmed the credit ratings of some Nigerian banks operating in Ghana, including Access Bank, United Bank for Africa (UBA), Guaranty Trust Holding Company, and Zenith Bank. The affirmations underscore the stability of these banks and their prominent positions in the banking sector. Fitch Ratings affirmed Access Bank Plc’s Long-Term Issuer Default Rating…
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Ecobank Ghana PLC records 40.3% revenue growth in 2022
ECOBANK Ghana PLC has despite the shocks of the Domestic Debt Exchange Programme and the general decline of the Ghanaian economy, the bank managed to increase its total revenue for 2022 by 40.3% to 2.97 billion GHC. Ecobank Ghana PLC explains that this growth was driven by mainly increases in net interest income, as well…