Tag: Ghana Business News
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Bayport announces good performance on GAX
Bayport Financial Services has announced good performances on the local bourse after the company listed on the Ghana Alternative Market (GAX) early this year. The listing of the debt instrument was targeted at raising GH¢200 million from the GAX in the medium term. Speaking to Citi Business News after presenting the “Fact Behind the Figures”…
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Growing economy is the best debt management strategy- Economist
As the Nana Akufo-Addo administration prepares to govern the nation, one major challenge it will face is the management of Ghana’s growing debt stock. By September this year, Ghana’s total debt stock had hit GH¢112.4 billion, while the budget deficit which is currently at 5 percent of GDP is predicted to grow by 1.5 percent…
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Business activities pick up slowly in Accra
Checks by Citi Business News in some parts of the national capital indicate that business activities are slowly picking up. Most shops have resumed work today as compared to election day, which was on December 7, 2016. On Wednesday, December 7, 2016, most shops were closed at the Okaishie market centre and its environs. Same…
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GRA improves in tax mobilization
The Ghana Revenue Authority (GRA) has improved in its tax mobilization through the deployment of Total Revenue Integrated Processing System (TRIPS). According to the GRA, there is going confidence in the use of the TRIPS in assessing, filing and paying of various domestic tax forms such as Income Tax, PAYE, VAT, Withholding Tax, and Gift…
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Govt secures US$100m to construct bridge over Volta Lake
Ghana has signed a $100-million (11,239 billion Yen) loan agreement with the Japan International Co-operation Agency (JICA) for the construction of a 540-metre long cable-stay steel bridge over the Volta River at Volivo and Dofor Adidome in the Volta Region. The agreement marks the resumption of the Yen loan Scheme after it was suspended when…
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New rules for microfinance companies good- Banking Consultant
Banking Consultant, and Head of the Osei Tutu II Centre for Executive Education & Research, Nana Otuo-Acheampong has expressed optimism in the new regulations announced by the Bank of Ghana (BoG) aimed at strengthening activities in the microfinance industry. As part of the regulations, the central bank has directed microfinance companies to observe corporate governance…
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Microfinance companies reject new BoG logo
It appears the decision by the Bank of Ghana(BoG) to introduce a new logo for all microfinance companies in the country may face a stiff resistance. The Bank of Ghana in announcing new regulations for microfinance companies in Ghana launched a logo to distinguish between licensed microfinance institutions and unlicensed ones. But the decision was…
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BoG auctions $1.8 bn cocoa syndicated loan from today
The Bank of Ghana(BoG) will today auction the first of three dollar auctions for this year to commercial banks in the country as part of moves to stabilize the cedi. The 1.8 billion dollar proceeds which are from the cocoa syndicated loan, will be embarked on this morning with a volume target of 20 million…
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Partner Israeli investors to expand businesses- Togbe Afede XIV
The President of the Ghana-Israel Business Chamber of Commerce Togbe Afede XIV has urged Ghanaian investors to partner Israeli citizens wishing to set up businesses in Ghana. According to him, there are many Israeli investors who have expressed interest to partner Ghanaians in agro processing and agriculture. Speaking to Citi Business News after the inauguration…
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Rectified list of DKM customers to be out this week
The Official Liquidator for DKM Microfinance, the Registrar General’s Department has told Citi Business News the final list of creditors affected in the error ridden list, will be released by close of this week. According to the Official Liquidator, 93,000 validated customer list was completed last Saturday, November 26th, 2016. The Principal Company Inspector for…