Tag: Ghana Business News
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Stimulus package to be ready by end of year – Biz Dev’t Minister
Business Development Minister, Ibrahim Mohammed Awal has revealed that government will soon bring out a stimulus package for businesses. He maintains that government is identifying the distressed companies and will soon allocate the stimulus package by the end of the year. The Association of Ghana Industries (AGI) had impressed on the government to make its…
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Barclays PLC reduces its African stake by 22% more
Barclays PLC has begun processes to reduce its stake by an additional 22 percent. This is expected to culminate in reducing the bank’s stake in its Africa operations to below fifty percent. The plan also follows a sell-down transaction which commenced on Wednesday, May 31st, 2017. A statement from Barclays and copied to Citi Business…
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Make farmers part owners of agric factories – Industry
Players in the agric sector have called on government to make farmers shareholders of some of the factories that will be established through the one district, one factory initiative. This they believe will sustain the factories and ensure inclusiveness for all stake holders. “In order for the factories to be sustained, the farmers must be…
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Businesses want stimulus package released by midyear
Private sector businesses have impressed on the government to make its stimulus package for businesses, available by the end of June this year. Among the numerous interventions by the NPP government to make local businesses more competitive, is the provision of financial support to some distressed businesses in the private sector. But the businesses are…
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Response to energy bond to determine investor confidence – Economist
Economist, Dr. Lord Mensah has suggested that the response to government’s 15 year energy sector bond will determine the investor confidence in the Ghanaian economy. In his view, the interest to be charged by the investors would demonstrate the assurance that their investments will yield positive results. Government is currently seeking a transaction advisor for…
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Vice President gets tough on public procurement rules
The Vice President, Dr. Mahamudu Bawumia has renewed the NPP government’s commitment to avert huge revenue losses due to flouting of public procurement rules. According to him, the canker has also contributed to the high levels of corruption in the public sector. To this end, the government has commenced a six day training program targeted…
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Govt seeks transaction advisor for $ 2.5bn energy bond
Government through the Finance Ministry, is seeking transaction advisors for its 2.5 billion dollars (10 billion cedis) energy bond to repay legacy debts in the energy sector. According to government, the move is to put the energy sector back on a strong financial footing as part of comprehensive steps to resolve the sector’s challenges in…
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Govt to issue 3 year domestic bond
Government has announced it will issue a three year domestic bond. It is unclear how much government intends to raise and what it intends to use the proceeds for. The bond will be issued via the book building format and opened to resident and non-resident investors. According to the statement from the Bank of Ghana,…
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Reducing cost of doing business: Minister unveils action plan
New and existing businesses seeking documentation for their operations should be able to do so within a relatively shorter period effective end of this month. It follows the implementation of a rapid reform action plan towards reducing the duration of registration and cost of doing business in Ghana. The new agenda being pursued by the…
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![Fishing sector threatened by galamsey [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/05/WhatsApp-Image-2017-05-29-at-6.22.48-PM-1.jpeg)
Fishing sector threatened by galamsey [Audio]
Fishermen in Ghana are appealing to government to strengthen Ghana’s marine regulations. It comes on the back of threats of a dwindling fishing industry as a result of illegal practices. Jessica Ayorkor Aryee visited some fishing communities as part of USAID /UCC fisheries and coastal management capacity building support program. Click below to listen to…