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6 ways to survive weak cedi in 2016


There have been many predictions around how the cedi will perform in 2016. Majority of them show the cedi will not perform so well. The cedi started 2016 at 3 cedis 80 pesewas on the interbank foreign exchange market and 3 cedis 83 pesewas at forex bureaus. It is currently trading at 3 cedis 84 on the interbank market and ...

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‘Disorganized markets scare insurance companies’-Dep Commissioner

The Deputy Commissioner of the National Insurance Commission, Mr. Simon Davor

The Deputy Commissioner of the National Insurance Commission, Mr. Simon Davor has told citifmonline that insurance companies are reluctant to insure goods of traders in the informal sector due to the disorganized nature of Ghanaian markets. Between 2010 and 2014, fire outbreaks in markets across the country destroyed goods and properties worth over 19 million Ghana cedis— most of them ...

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We won’t devalue cedi – BoG Governor

Dr. Wampah

The Governor of the Bank of Ghana, Dr. Henry Kofi Wampah has rejected calls for the cedi to be devalued ahead of the establishment of a common monetary zone by West African countries. According to him, the cedi’s rate has always responded to market conditions which makes it unnecessary for it to be devalued. There has been heightened debate over ...

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Govt to issues first bond for 2016 tomorrow

Ghana Cedi

Government will tomorrow, Thursday 7th January, 2016 issue a 500 million cedi 3 year fixed rate bond. The bond which is cedi denominated will be the first bond issued by the bank of Ghana on behalf of government for 2016. Proceeds from the bond is to be used to restructure government debt and also for maturity settlement. The bond will ...

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Ghanaian companies highest contributors to banks NPLs -BoG report

Ghana Cedi

Latest figures from the Bank of Ghana’s financial stability report reveals indigenous companies contributed more than 70 percent to the non–performing loans (NPLs) of the banking industry in 2015. According to the report credit to the private sector contributed 97.4 percent of the total banking sector’s non-performing loans as at September 2015 compared with 93.1 percent in September 2014. Even ...

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BoG revokes license of 70 microfinance companies

Bank of Ghana

The Bank of Ghana (BoG) has revoked the temporary license of 70 microfinance companies and a money lending company for failing to meet conditions precedent to the issuance of a final license. According to the BoG ‘in the exercise of its powers it grants licenses to persons desiring to conduct the business of banking including microfinance and money lending. Pursuant ...

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How new taxes law will affect you


Majority of Ghanaians will be hit with massive increase in the taxes they pay following the implementation of the new income tax law by the Ghana Revenue Authority (GRA) to replace the repealed Internal Revenue Act,  (Act 592). Per the new law, which took effect from January 1st 2016, a number of areas which prior to the review were exempted ...

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Ghanaian business & corporate giants we lost in 2015


They were giants in their own right and were well known to have played significant roles in the business and corporate worlds. But before the year 2015 came to an end they were called by our maker. In all two notable key personalities in the business and corporate world departed from earth in 2015. The first to have departed was ...

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June 3 flood: NIC orders Enterprise insurance to pay Alliance Motors customers


The National Insurance Commission (NIC) has directed Enterprise Insurance to pay up car owners whose cars were destroyed at Alliance Motors Ghana limited during the June floods. Alliance Motors Ghana Ltd, dealers in Jaguar and Land Rover vehicles had refused to compensate clients who were affected by the floods and claimed the company’s insurance policy with Enterprise Insurance, does not ...

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ADB recommences IPO


The Initial Public Offer (IPO) of Agricultural Development Bank (ADB)  has finally taken off. The launch follows approval from the Securities and Exchange Commission (SEC). The launch was been put on hold several times following a number of law suits filed against the bank for the move. The last suit that was filed against the launch of the offer was ...

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