Tag: Ghana Business News
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Banking Consultant calls for review of interest on foreign currency accounts
Information gathered by Citi Business News indicates that some banks in country lost a substantial portion of their dollar deposits to the recently issued local dollar bond. Government was able to raise 94.6 million dollars from the security, hinting that it will continue with such bonds to raise funds in retiring domestic debt and invest…
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Terkper insists debt stock is declining, Minority in parliament disagree
Finance Minister Seth Terkper has insisted that Ghana’s debt stock will decline as it shows signs of reduction. A Bank of Ghana (BoG) summary of Economic and Financial Data released in September this year indicated that Ghana’s total public debt had hit almost GHC110 billion as at July this year. But Mr. Terkper, speaking to…
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We’ll stop privatization of ECG—TUC
The Trades Union Congress (TUC) has served notice it will resist the privatization of the Electricity Company of Ghana(ECG). In strong worded letter to the Flagstaff House , the TUC accused the Millennium Development Authority (MiDA) of betraying the Union by going ahead to announce a planned Builders Conference on the private sector participation of…
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Attacks on Dangote Cement misplaced- CEO
Dangote Cement Company has described as unfair recent attacks on the company even though it has not infringed on any law of the country. The Cement Manufacturers Association of Ghana(CMAG) in a recent press conference attacked Dangote, calling on government to restrict importation of cement from Nigeria in retaliation of a similar ban imposed on…
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MCC expresses satisfaction in ECG Private Sector Participation
As the Trades Union Congress(TUC) expresses regret over the Millennium Development Authority’s (MiDA) announcement of a Bidders Conference on Monday, October 31, the Chief Executive Officer of the Millennium Challenge Corporation(MCC), Dana Hyde has insisted that processes used in the compact involved all important parties. The Public Utility Workers’ Union (PUWU) of TUC has been…
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Stanbic awards winners of App Challenge
A level 300 student of the University of Health and Allied Sciences, Aminu Abdul Manaf has emerged winner of the Stanbic Bank App Challenge. Mr. Manaf won the challenge with the Zealous App, a fusion of several mini apps which include a currency converter, with 171 currencies and live exchange rates. The App offers the…
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Focus on IMF conditions to avert budget overruns- Economist urges govt
As the period for the general elections draw closer, government has been urged to focus on the conditions provided in the External Credit Facility programme with the International Monetary Fund (IMF) to avert budget overruns. Government was heavily criticized recently for restoring allowances for trainee nurses after scrapping it. The move was seen by some…
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Gas from Gye Nyame Sankofa field may prevent dumsor in 2017- Petroleum Commission
As some observers point to a possible load shedding by early 2017, the Petroleum Commission has said that Ghana will have reliable gas supply from the Sankofa Gye Nyame field to produce about thousand megawatts of power by mid next year. The New Patriotic Party (NPP) yesterday warned that Ghana could return to another period…
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Appropriation Bill will serve interim purpose- AGI
Despite criticism of the Advanced Appropriation Bill approved for by parliament for the first quarter expenditure of 2017, the Association of Ghana Industries (AGI) is optimistic the bill will serve its interim purpose. The Minority in parliament criticized government for not investing in critical sectors of the economy in the expenditure of the Appropriation Bill.…
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Barclays launches Shared Growth to create employment
As part of efforts directed at Youth Employment, Barclays Bank Ghana has launched a new initiative called the Shared Growth. The programme which has three main pillars– Financial Inclusion, Enterprise Development and Youth Employability will provide over 2.5 million cedis to help address challenges with unemployment. Speaking at the launch, the Managing Director of Barclays…