Category: Top Stories
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Joe Jackson cautions govt against immediate return to international market
Financial analysts are warning government to be extremely cautious in its quest to immediately go back to the capital market following the approval of the country’s deal with the International Monetary Fund (IMF). The warning comes after fresh hints by President Akufo-Addo that government has plans to borrow again from the market soon to fund…
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Ghana Association of Banks welcomes provisions for recapitalization
The Ghana Association of Banks is urging banks whose capitals are below the minimum capital requirement to quickly build it up to meet the right requirements proposed by the Central Bank. The Association maintains that this will also boost their businesses. This comes as the Bank of Ghana has given banks up to the end…
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BoG commissions Financial Industry Command Security Operations Centre
In its quest to ensure the delivery of a safer digital financial industry, the Bank of Ghana (BoG) has inaugurated an advanced command centre known as the ‘Financial Industry Command Security Operations Centre (FICSOC)’. The move forms part of efforts to curb the numerous cybersecurity risks in the country and to create a secure cybersecurity…
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Investments, loans issues top complaints at banks for 2022 – BoG report
Customer issues regarding investments and loans were among the top five category of complaints recorded in banks for 2022. The others included complaints on current accounts, digital and electronic-money services and products. This is according to the Bank of Ghana (BoG) Complaint Management Report 2022. Out of the total 983 reports received, investment products and…
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Ghana will soon return to international market to borrow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has revealed plans to return to the International market to borrow to fund infrastructural projects following the successful completion of Ghana’s $3 billion deal with the International Monetary Fund. Speaking at the Qatar-Africa Economic Forum in Doha, Mr. AKufo-Addo said even though his government is in no rush to return…
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GSA to clamp down on sub-standard cables, electrical products dealers
The Ghana Standards Authority (GSA) is moving to crack the whip on businesses defaulting in the sale of standardized cables and electrical products. In the coming days, the Authority will be deploying over 200 chartered trained officers into various markets to enforce standards compliance. Director General of Ghana Standards Authority, Prof. Alexander Dodoo at a…
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GNPC hasn’t signed any deal with PetroSA – Freddie Blay clarifies
Board Chair of the Ghana National Petroleum Corporation (GNPC), Freddie Blay, has refuted claims of a contract being brokered to sell a 50% stake in Jubilee Holdings Limited to South African oil business, PetroSA, despite the significant revenue this interest has for the state. Mr. Blay has been accused by 29 civil society organizations of…
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Pensioner bondholders to picket again from May 29 over unpaid coupons
The Pensioner Bondholders Forum has hinted of another round of picketing at the Finance Ministry to demand the payment of matured coupons. According to the group, the Finance Ministry is yet to pay matured coupons for May15 and subsequent maturities. Members of the Forum suspended its picketing on May 12 after it had a meeting…
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Gold for Oil has doubled Ghana’s gold reserves – BoG Governor
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison says the country’s gold reserves have doubled following the gold for oil deal. Ghana’s gold reserves according to the Governor would have been low if the gold for oil policy was not rolled out. The program was initiated by the government as a response…
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Ghana’s economic crisis should be over after 3-year bailout – IMF
Ghana should be able to get out of the current economic quagmire after its three-year extended credit facility with the International Monetary Fund (IMF), Dr. Leandro Medina, the IMF Representative in Ghana has said. When asked specifically on Citi TV‘s The Point of View, if Ghana’s struggles with the economy will be over by the end…