Tag: Ghana Business News
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BoG Governor hopeful of further drop in interest rates
The Governor of the Bank of Ghana, Dr. Ernest Addison has disclosed that interest rates will drop further when external pressures on the economy decline. The central bank has kept its policy rate unchanged at 17 percent, for two consecutive times this year. The move is anticipated to increase access to capital by businesses as…
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#GITEX2018 in pictures
The annual edition of GITEX Technology Week came off from October 14 to 18, 2018. The event took place in Dubai in the United Arab Emirates (UAE). According to organizers, GITEX 2018 presented the largest regional IT exhibition with a more significant role in 2018 than ever before. The event also defined latest trends, presented…
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Consumer spending in IT to reduce in 2019
Spending in the telecom and ICT industry is expected to see some amount of dip next year, 2019. The International Data Corporation which is a global ICT research and consultancy services firm, projects that the experience will be across the board including inventors and consumers. Data from the IDC on spending on IT in Ghana…
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NIC to the rescue of ESICH Life over delayed payments
The National Insurance Commission, NIC, has moved in to get customers of Esich Life Assurance access to their insurance claims. The company has been saddled with bouts of customer picketing for almost a year now following failure by the clients to access their claims. The woes of Esich Life have been connected with the collapse…
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ExxonMobil deal: Gov’t likely to extend timeline for local partner
ExxonMobil may get an extension of the timeline to select a local partner for its operations in Ghana. Citi Business News understands this may be the option since the government is keen on getting the company to operate in the country’s oil sector. Deputy Energy Minister, Dr. Mohammed Amin Adam disclosed this in an interview…
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Telecoms Chamber to engage gov’t over increased tariffs
The Chamber of Telecommunications has said it is open to further discussions with the government over the imposition of taxes on operations of its members. This follows the increase in telecom service tariffs after the recalibration of the Value Added Tax (VAT). The midyear budget review saw the separation of the 5 percent GETFund and…
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Karpowership wins best Independent Power Plant of the Year
Karpowership Ghana Company Limited has been adjudged the Best Independent Power Plant service for the year 2017 at the Ghana Business Quality Awards held in Accra last weekend. The award seeks to appreciate Karpowership for its service quality, competitiveness and service innovation in Ghana. The award ceremony was under the theme Building Ghana beyond Aide:…
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No renewal of license for fronting companies – Petroleum Commission
The Petroleum Commission of Ghana has cautioned all businesses that engage in fronting to desist from the practice or face the law. The Commission has stated that it will not renew the license of any Joint Venture which fails to fully disclose the identities of its shareholders. The CEO of the Petroleum Commission, Egbert Faibille…
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Aviation authorities attend 13th ICAO conference in Canada
The Deputy Minister of Aviation and MP for Takoradi, Hon. Kwabena Okyere Darko-Mensah has led a team of Aviation experts from the Ministry of Aviation and the Ghana Civil Aviation Authority to attend the Thirteenth Air Navigation International Civil Aviation Conference(ICAO) conference currently ongoing in Montreal, Canada. Also part of the delegation are seasoned experts…
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MTN shares soar despite incomplete investors’ data
It has emerged that MTN is yet to complete the reconciliation of information of some investors who bought into the company’s shares almost two months after the company listed on the Ghana Stock Exchange. As a result, managers of the stock market are anticipating increased trading activities on the exchange after the processes are completed.…