Tag: Ghana Business News

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in Government, Local Economy, Top Stories

The Ghana Revenue Authority has described as unfortunate the decision by freight forwarders to embark on a strike action if the authority goes ahead with the implementation of the CTN system. The freight forwarders have constantly expressed their displeasure over the system and have called on the GRA to reconsider its decision in rolling it…

Real estate industry advocate massive local content patronage

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in Government, Local Economy, Top Stories

Players in the country’s construction industry are bemoaning the lack of stakeholder consultation between them and government. Their complaint follows government’s engagement with a Singaporean architect who has been mandated to see to the transformation of Accra into a modern city. According to the local players in the construction industry, government has on many occasions…

‘We are not collapsing’ – Prudential bank assures customers

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in Banking And Finance, Local Economy, Top Stories

Local bank, Prudential bank is urging its customers to ignore reports cautioning them to withdraw their deposits because the bank is near collapse. According to the bank the publication is false and should be ignored because they are mere fabrications calculated to destroy its image. The bank further states that it has never experienced any…

Panic withdrawals: Don’t be anxious of capital flight – Nana Otuo

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in Banking And Finance, Government, Local Economy, Top Stories

Banking Consultant, Nana Otuo Acheampong has downplayed effects of the ongoing panic withdrawals that have hit local banks. It follows fears that the situation could lead to capital flights which will distort economic growth considering the magnitude of withdrawals that may be involved. The uncontrolled withdrawals embarked on by customers of banks and specialized deposit…

IFC increases investments to sub-Saharan Africa to $6.2bn

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in Banking And Finance, Local Economy, Top Stories

IFC, a member of the World Bank Group, has announced record new investment commitments of $6.2 billion in long-term financing in Sub-Saharan Africa for its 2018 fiscal year. This is up from $3.5 billion in the previous fiscal year. IFC’s annual investments and mobilizations in the region accounted for more than a quarter of IFC’s…

GRA’s ‘controversial’ CTN policy takes effect October 15

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in Government, Local Economy, Top Stories, Transport

The Ghana Revenue Authority (GRA) has announced that it will fully implement the Cargo Tracking Note (CTN) system at Ghana’s ports from October 15, 2018. The system was meant to be implemented in August 2018 but was postponed after pressure from the Freight Forwarders Association. But a letter addressed to the Shipowners & Agents Association…

IMF cuts global economic growth target to 3.7%

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in Banking And Finance, Government, Local Economy, Top Stories

The International Monetary Fund (IMF) has cut global growth projection to 3.7 per cent for this year [2018] and 2019. The Fund says the global economy’s growth target has dropped by 2 percent from the initial 3.9 percent. The Economic Counsellor and Director of Research Department at the IMF, Maurice Obstfeld disclosed the Fund’s new…

Industrializing Ghana: Nana Addo defends 1d,1f; bauxite deal

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in Government, Local Economy, Mining, Top Stories

President Akufo Addo has mounted a strong defense of his government’s industrialization agenda in a bid to grow Ghana’s economy. The President says the flagship one district, one factory program should create employment and improve livelihoods. President Akufo Addo made the remarks at the Financial Times Africa Summit where he also justified the recent economic…

GRA’s revenue faces massive dip over fake TIN – Analyst

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