Tag: Ghana Business News
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Delays in forming new Boards causing economic losses – Analyst
Calls for the President to constitute new Boards for key government institutions have intensified due to the potential administrative lapses further delays could cause. The former Director General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi has indicated that Ghana may have lost huge investments at least for the first half of…
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GCAA improves safety with new Air Traffic Management system
Aviation industry players are hopeful that Ghana will be able to accommodate and manage more aircrafts and increase its revenue from the aviation sector effective next month. This follows the implementation of a new air traffic management equipment at the Ghana Civil Aviation Authority (GCAA). The safety equipment which will primarily be operated by the…
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Citi FM’s Sales Revolution reignites skills for profit boom
The Sales Revolution, as part of the Citi Business Festival, ended on Friday with impactful lessons to boost the profits of the companies of participants. The event which was on the theme, ‘Reignite your selling advantage’, witnessed massive participation from about 200 sales personnel and marketing executives. The highly charged participants were obviously anticipating to…
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PIAC demands swift clearance of $ 2.4bn energy sector debts
The Public Interest and Accountability Committee (PIAC) has warned that the troubles confronting Ghana’s energy sector may deepen soon if the huge debts in the sector are not settled. PIAC argues that the debt owed particularly by the Volta River Authority (VRA), greatly affected operations for 2016 considering the declining global oil prices. In the…
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Monitor tax cuts on spare parts to benefit consumers – Minority
The Minority in Parliament is casting doubt over the impact of the Customs Amendment Bill on consumers of imported spare parts. They argue that the absence of a proper mechanism to monitor the margin of reduction in prices would make little of the slashed taxes. The Deputy Minority Leader in Parliament, Mr. James Klutse Avedzi…
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Average interest on mortgages stays at 33.2 %, GCB offers highest
The average interest rate for mortgage loans among commercial banks remained at 33.2 percent in May 2017. According to the Bank of Ghana’s Annual Percentage Rate (APR) and Average Interest (AI) report, GCB Bank still offers the highest interest on mortgages. The bank’s interest on mortgage loans still stands at 40.3 percent. It is followed…
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Banks’ interest rates drop marginally – BoG report
Interest rates of banks have seen marginal declines between April and May 2017. An assessment of the average interests charged by the commercial banks on loans and advances shows that the banks have generally reduced their interest rates. The interest rates on loans and advances have declined between 0.3 and 1.8 percent. According to the…
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Rising inflation to affect interest and exchange rates – Economist
Economist, Dr. Ebo Turkson has predicted of dire implications on interest and exchange rates should inflation rise in May. According to him, this will have a negative impact on businesses and the economy entirely. “When prices increase generally, our exports become less competitive because our goods are more expensive than formerly. So inflation is not…
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Importers kick against 0.02% AU ‘tax’
Importers have warned they will increase the prices of goods within the coming months should government fail to halt the proposed 0.02 percent deductions on all imports outside the African Union (AU). President Nana Akufo Addo has indicated that cabinet has approved the deduction awaiting Parliamentary approval and implementation. In a speech read on his…
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Average interest on banks’ deposits drops to 11.2 %
The average interest offered by banks on customer deposits dropped marginally between April and May this year. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the BoG, the figure declined from 11.3 percent as at the end of April 2017 to 11.2 percent as at end of May. Out…