Tag: Ghana Business News
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End of the road for eight fund managers as official liquidator gazettes them
The Official Liquidator (OL) has gazetted eight additional fund management companies (FMCs) out of the 54 whose licenses the Securities and Exchange Commission (SEC) revoked. Two more companies, which have also been cleared, are going through the winding up and gazetting process. Their gazetting completes their journeys as corporate bodies. Those gazetted include UniSecurities Gh…
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Ghana’s debt stock hits GHS273.8 billion, crosses dreaded 70% debt-to-GDP mark
Ghana’s total public debt stock has risen by GHS54.8 billion in the first nine months of this year, hitting GHS273.8 billion as at the end of September 2020. Government is currently under pressure to slow down the rate of debt accumulation. The new debt figure pushes Ghana’s debt to GDP ratio to 71 percent, crossing…
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C/R: Ministry of Trade commissions two Business Resource Centres
Minister for Trade and Industry, Alan Kyerematen says the establishment of the Business Resource Centres (BRC) across the country will help nurture the youth with budding talents and boost small-scale businesses. According to the Minister, statistics available show that Ghana’s labour force stands at 12 million as against 700,000 jobs created by the public sector…
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IES demands more commitment from political parties on renewable energy
The Institute for Energy Security is demanding a lot more commitment from the governing New Patriotic Party and the National Democratic Congress in the renewal energy sector. Both parties had made provision for renewable energy in their respective manifestos but the energy think tank believes such promises are not enough. Speaking to Citi Business News,…
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Lands Commission to use auto maps to help address challenges associated with land acquisition
Ghana will in the short to medium term have auto photo maps whereby the entire country will be mapped to serve as a basis for the digitization of the lands in the country. Already all maps in Greater Accra have been scanned and are undergoing digitization. This, according to the Lands Commission, forms part of…
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Winners of FBNBank Ghana save and win promo receive prizes
FBNBank Ghana Limited, a subsidiary of First Bank of Nigeria Limited has presented prizes to winners of the 2019 Save & Win promo. The prize presentation afforded the bank an opportunity to make good on its promise of recognizing and rewarding the bank’s customers that participated in the culture of saving by participating in the…
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Ghanaians confident in banks; but trust in Savings & Loans, Microfinance firms low – Survey
Ghanaians remain confident in banks despite the finance sector crisis and subsequent clean-up over the last two years. The story is however different for Savings and Loan companies and Microfinance companies, which are largely considered unsafe. According to a recent AfroBarometer survey, 58 percent of Ghanaians feel banks are a very safe place to keep…
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Banning rice imports in 2022 not feasible – Importers & Exporters Association
Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit, is warning that government’s plan to ban the importation of rice could cause more harm than good in the short to medium term. He said boosting production and consumption of local rice lies in a holistic support to local farmers in terms…
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Wienco, others intervene to purchase all excess local rice – MoFA
Agricultural commodity trading company, Wienco Ghana Limited, will be at the forefront of attempts to purchase all excess rice harvests. Speaking during a meeting with local rice farmers at Avalavi Weta in the Volta Region on Tuesday, a Deputy Minister of Food and Agriculture, Kennedy Osei Nyarko, said Wienco had already committed to buying all…
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Chamber of Commerce welcomes non-introduction of new taxes in 2020 budget
President of the Ghana National Chamber of Commerce and Industry, Nana Dr. Appiagyei Dankawoso I, says although businesses in the country are still faced with some challenges, they appreciate government’s decision not to introduce new taxes in the 2020 budget. Speaking at the third Chamber of Commerce Awards 2018, he said “The GNCCI validates the…