Category: Top Stories
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Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors
Standard Chartered Bank Ghana PLC has appointed Ebenezer Twum Asante as Chairman of the Board of Directors with effect from March 1, 2023. He succeeds Dr. Emmanuel Oteng Kumah who retired from the Board in October 2022. His appointment has received approval from the Bank of Ghana. Ebenezer joined the Board of Standard Chartered Bank…
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SONA full of hopelessness- importers and exporters association
The Importers and Exporters Association of Ghana has described the State of the Nation Address presented by President Nana Addo Dankwah Akufo-Addo on Wednesday, 8th March, 2023 as full of hopelessness for businesses. In a statement, the Association explains that attempts by the Nana Addo-led government to get Parliament to, as a matter of urgency,…
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CPA threatens legal action to demand favorable tariff prices
Consumer Protection Agency is calling on the Public Utility Regulatory commission (PURC) to announce a favorable adjustment of utility prices in the interest of consumers in its second quarter announcement for 2023. The PURC on 1st February increased utility tariffs for water and electricity by 29.96 percent and 8.3 percent respectively. The CPA maintains that…
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Gold for oil policy already bearing fruit – Nana Addo
President Nana Addo Dankwa Akufo-Addo is impressed with the progress of the Gold for Oil Policy so far. Delivering the State of the Nation Address in Parliament on Wednesday, the President said the policy, which is aimed at reviving the economy “is already bearing fruit.” “Firstly, it will help us preserve foreign exchange, especially the…
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Government’s decision to cut interest rates on T-Bills is laudable – Joe Jackson
Executive Director of Dalex Finance, Joe Jackson, has lauded government’s decision to reject bids made for the 91,182 and 364 day bills with yields over 35% in a recent T-Bills auction on March 3, 2023. This, he notes is a crucial step towards addressing the high interest rates on government securities. Government rejected all the…
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DBG to invest in agriculture value chains to tackle food insecurity
The Development Bank Ghana (DBG) has revealed its intention to make targeted investments across four value chains in the agriculture sector, with the aim of addressing the prevailing food insecurity in the country caused by inadequate local production to meet consumption needs. This initiative comes amidst increasing concerns about high food prices in Ghana, which…
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BoG directs banks to submit prudential reports on sex-disaggregated basis
Banks and other deposit-taking institutions in the country are now required to submit their monthly prudential returns to it on a sex-disaggregated basis. This new move introduced by the Bank of Ghana (BoG) is to be collected in an online reporting portal, is to give the Bank a full view of the gender dynamics in…
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AGM Petroleum Ghana relinquishes South Deep Water Tano block
AGM Petroleum Ghana Limited (AGM) has decided to quit the South Deep Water Tano (SDWT) block to after considering all options. The move comes as the Energy Ministry issued a final deadline to Aker Energy to submit its Plan of Development The SDWT block is located in ultra-deep waters and requires substantial investments to proceed…
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Interest on treasury bills for last 3 months hits ¢4.416bn
Interest cost on Government of Ghana Treasury bills for the last three months is estimated at GH¢4.416 billion. This was disclosed by the Executive Director of Dalex Finance, Joe Jackson. Government reportedly bought a total of GH¢33.08 billion worth of T-bills in the last three months. The treasury instruments were sold by government at an…
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Ghana needs 10 billion cedis to transform agric industry- Chamber of Agribusiness
The Chamber of Agribusiness Ghana has indicated that the country’s agricultural industry needs about 10 billion cedis to curtail some of the limitations that hinder the growth of the sector. The Chamber explains that although the country has in place feasible policies, there is the need for industry players to adopt new strategies and technology…