Tag: Ghana Business News
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Hotels Association hits back at Tourism Minister
The Ghana Hotels Association has downplayed accusations from government that the industry has been unproductive in the tourism sector. The rebuttal, follows comments by the Tourism Minister , Mrs. Elizabeth Ofosu Agyare that hoteliers are not being productive and receptive to new technologies to enhance the industry She explained that lack of requisite skills by…
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Petrosol launches campaign to ensure accuracy at the pumps
As part of efforts aimed at providing the right quantity of fuel to its consumers, Oil Marketing Company, Petrosol has launched the ‘Full Quantity Campaign’ in Accra. The move is also intended to complement the work of the Ghana Standard Authority (GSA) and National Petroleum Authority (NPA) by creating awareness of the availability of the…
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Starbow launches 97-seater Avro RJ Jet
Indigenous airline, Starbow, has acquired a 97-seater Avro RJ Jet to augment its fleet as it looks to expand its operations in the West African sub-region. The Avro RJ plane has four engines and can make steep approaches and short take-offs. This makes it safer in the event of an engine being lost. The 97-seater…
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Committee to relocate illegal miners at AngloGold Obuasi starts work
The committee set up by government to relocate illegal miners from AngloGold Ashanti’s Obuasi Mine has begun carrying out its mandate. The committee was unable to carry out its mandate for the scheduled date which was Monday,25 2016. According to the committee, the delay in moving the illegal miners was as result of its quest…
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Capital Bank is ready to meet BoG requirements- CEO
As the Bank of Ghana(BoG) prepares to announce a new capital requirement for banks in the country, the Chief Executive Officer of Capital Bank, Rev Fitzgerald Odonkor has told Citi Business News the bank is ready to meet the new measures to expand its financial intermediation. The central Bank earlier announced that it is undertaking…
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Moody’s positive rating of Ghana a reflection of economy- Terkper
Finance Minister Seth Terkper is optimistic recent revision of Ghana’s Long Term Bond Ratings from negative to stable by international Credit Ratings Agency, Moody’s will influence Ghana’s economic outlook. Moody’s, in its recent economic report of Ghana defined the economic outlook as positive, affirming the rating at B31. The report cited significant fiscal deficit reduction…
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Ban on imports not solution to trade imbalances- Franklin Belnye
An advisor to the Governor of the Bank of Ghana, Mr. Franklin Belnye has kicked against the placement of ban on some selected imported items as a measure of improving Ghana’s budget deficit. Government in recent times placed a ban on a number of items including the importation of cement to protect local producers and…
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Terkper upbeat of first local dollar denominated bond
Finance Minister Seth Terkper is optimistic government’s decision to issue its first local dollar denominated bond in the country will yield good results. According to him, there are enough US dollars in the country, to help government meet its target of raising over 50 million dollars locally. Speaking to Citi Business News after a local…
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GHIB to expand operations to East Africa
Managers of the Ghana International Bank have disclosed that the bank will soon commence operations in East African countries such as Rwanda, Tanzania, and Zambia to help improve Ghana’s trade finance. According to the managers, the bank currently holds an asset of 400 million British pounds on the African continent. Speaking to Citi Business News…
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Further delay in IMF cash will push interest rates up – Economist
An Economist with the Institute of Statistical, Social and Economic Research, (ISSER), Professor Robert Darko Osei, is cautioning of a further increase in interest and inflation rates over a further delay in the release of the IMF bailout cash. He argued that, government’s decision to borrow more to meet expenditure like wages in an election…