Tag: Ghana Business News
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2017 light cocoa crop season opens
The Ghana COCOBOD today announced the opening of the 2017 light crop cocoa season. A statement from COCOBOD and copied to Citi Business News indicated that the purchases of cocoa beans will also begin today. According to COCOBOD, the producer price to be paid at all buying centres is GH¢475.00 for every 64 kilograms bag…
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GIPC targets local investment growth
The Ghana Investment Promotion Centre (GIPC) has outlined some key initiatives aimed at building capacity of local businesses and improve the investment regime in Ghana. The CEO of the GIPC, Mr. Yoofi Grant believes the plan should enhance the competitiveness of local businesses and eventually turnaround the economic fortunes of the country. The NPP government…
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Cancel deferment of Amended VAT implementation – Parliament to GRA
Parliament has asked the Finance Ministry and the Ghana Revenue Authority (GRA) to halt the suspension of the implementation of the Amended 3% VAT for local businesses. It follows an acceptance by the House for the two entities to meet over the implementation of the amended tax. The 1st Deputy Speaker, Joseph Osei Wusu who…
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COCOBOD to supply CPC with beans despite indebtedness
The Ghana COCOBOD has served notice it will supply about thirty thousand metric tonnes of cocoa beans to the Cocoa Processing Company (CPC) within the next few weeks to sustain the operations of the company. The CEO of COCOBOD, Joseph Boahen Aidoo who disclosed this also said the plan is to make the CPC viable…
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Economy to suffer over ‘swift’ cedi devaluation – Dr. Turkson
Economist, Dr. Ebo Turkson has advised that Ghana delays any attempt to devalue the cedi until such a time that the country develops capacity to grow its exports. He argues that the country risks distorting its balance of trade eventually due to the possibility of excess imports compared to exports. Even though Dr. Turkson admitted…
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Ease of doing business key for entrepreneurial growth (Audio)
Ghana’s business environment is considered as less competitive compared to some economies within the sub-region. While efforts have been made to reduce the cost and duration of registering a business in the country, it appears more needs to be done at a time that the Ghana Investment Promotion Centre is targeting 5 billion dollars in…
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Devalued currency is a blessing for Ghana – Henri Wientjis
Businessman and CEO of the African Tiger Holdings Limited, Henri Wientjis has suggested that Ghana’s devalued currency is a blessing for the country. He argues that the depreciation of the cedi should serve as an opportunity to develop the country’s agric sector and increase exports to the advantage of exporters. Speaking at the Investment Opportunities…
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Mining firms demand economic respite despite boost in revenue
Mining companies operating in Ghana have renewed their plea for government to reduce the relative high operational cost which they say is impacting their activities. They contend that the development has compelled some companies to relocate to neighbouring Ivory Coast while Burkina Faso and Mali continue to attract new exploration activities compared to Ghana. The…
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Give value for money – Energy Minister charges new Audit Committee
Energy Minister, Boakye Agyarko has charged the new Audit Committee for the energy ministry to commit itself to giving value for money as it commences its work. As part of fulfillment of provisions of Section 86 of the Public Financial Management Act 2016 (Act 921), the Minister on Friday, June 2, 2017 inaugurated a five…
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Barclays PLC reduces its African stake to 23.4%
Barclays PLC has reduced its shareholding in Barclays Africa to 23.4%. On Thursday, Barclays Africa announced that following the completion of South Africa’s largest bookbuild in South African Rands, Barclays PLC has sold 33.7% of Barclays Africa. The issued share capital was at a price of R132 per share. A statement from the bank and…