Tag: Ghana Business News
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Pharmacy Chamber seeks incentives for pharma-park
The Chamber of Pharmacy Ghana has made an appeal for the government to provide incentives for its new pharma-park. Among the requests are; one hundred percent income tax free status, duty free imports for building materials, amongst others. The aim of this project is to reduce imports of medicines substantially within the short to medium…
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Enterprise Group announces new appointments
Enterprise Group Limited is pleased to announce the reorganization of its business structures resulting in a number of new appointments, with effect from 2nd January, 2019. The new appointments are as follows: Kwame Ofori, who held the office of Executive Director of the General Business subsidiary, Enterprise Insurance from 2010 to 2018, will become Executive Director…
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Six fund managers exit investment market
The Securities and Exchange Commission (SEC) has cautioned the public against doing business with some six fund management companies who have voluntarily ceased their operations. The companies cited various reasons for the decision. As a result, the regulator says they are not supposed to engage the public in that capacity henceforth. The fund management companies…
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Goldfields improves productivity with contract mining – Chamber of Mines
The Ghana Chamber of Mines has disclosed to Citi Business News that the change in operations by Goldfields has led to increased productivity at the company’s Tarkwa mine. Goldfields, in 2018 announced a major shift in its mining operations from owner to contract mining sparkling a lot of controversy from labour unions over job losses.…
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$670m support to stabilise cedi laudable – Prof. Peter Quartey
Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Peter Quartey, has described as a move in the right direction, the decision by the Bank of Ghana to use six hundred and seventy million dollars ($670,000,000) to stabilize the cedi. The Governor of the Bank of Ghana, Dr Ernest Addison revealed…
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Absa CEO, Maria Ramos to retire at end of February 2019
Absa has announced that its Group Chief Executive Officer, Maria Ramos will retire in February 2019. Ms Ramos’ retirement is based on the fact that she turns 60 which makes her eligible to retire. A statement from Absa on the matter said: “Maria has been Group Chief Executive since 2009. She has led the Group…
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Economist lauds debt re-profiling as debt reaches GH¢172.9bn
An Economist, Professor Eric Osei Assibey has suggested that the government’s debt re-profiling could be having a positive impact on reducing the country’s debts. According to him, some interim improvements within the economy could have a greater impact if the plan is sustained. Professor Assibey’s comments come on the back of a recent Bank of…
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Ghana’s debt hits 172.9 billion cedis
The total amount that Ghana owes reached 172.9 billion cedis in November 2018. This is according to data from the Bank of Ghana. The Summary of Economic and Financial data by the central bank shows that between July and November 2018, the country added 13.2 billion cedis to its debt. The figure went up from…
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Telecoms Chamber seeks stay of execution over NCA fines
The Electronic Communications Tribunal will next week, give its ruling on a stay of execution filed by the Chamber of Telecommunications. It follows the latter’s dissatisfaction over a fine for failing to provide quality services as required. The Chamber of Telecommunications last week, petitioned the Electronic Communications Tribunal over fines imposed on them by the…
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Mining firms expectant of gold price boom as prices pick up
Mining companies are expecting gold prices to sustain the increase for this year to impact on their profits. The price of the commodity has since 2016 failed to see significant increases as projected by mining firms. The drop in price has affected the profits of the mining industry which has also impacted their contribution in…