Tag: Ghana Business News
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3 ‘big’ economies slow down growth in sub-Saharan Africa
The World Bank has described growth in sub-Saharan Africa as very slow in the October edition of the Bank’s biannual report dubbed, Africa’s Pulse. The region recorded a growth of 2.7 percent, in 2018 which is a 0.4 percent rise from the 2.3 percent recorded in 2017. The Bank has attributed the marginal growth to…
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BoG to save cedi’s free fall with $650mn of cocoa syndicated loan
About 650 million dollars from the cocoa syndicated loan is to hit the Bank of Ghana’s account today. This is because the COCOBOD will make the first draw down from the loan to be lodged at the central bank’s account. The figure represents fifty percent of the 1.3 billion dollars that the Ghana COCOBOD secured…
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Excise tax stamp: 1000 jobs could be lost over seized goods – AGI
The Association of Ghana Industries (AGI) has warned that over a thousand people in the beverages industry in Ghana could lose their jobs if the Ghana Revenue Authority (GRA) fails to remove compliance officers from the factories of its members and engage in further dialogue in relation to the tax stamp policy. According to the President…
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BoG closes down Dancom Microfinance Limited, arrests directors
The Bank of Ghana has shut down Dancom Microfinance Limited for operating illegally. The Directors of the company have also been arrested and are being prosecuted for operating without a license. “…Dancom Microfinance was engaged in deposit-taking activities without licence contrary to section 6(1) of the Banks and Specialized Deposit-Taking Institutions Act, 2016(Act 930).” “The…
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We’ve saved deposits of 1m Ghanaians in cleaning banking sector – Nana Addo
President Nana Addo Dankwa Akufo-Addo has revealed that the rationalization of the banking sector, undertaken by his government, has ensured that deposits of one million, one hundred and forty-seven thousand, three hundred and sixty-six (1,147,366) Ghanaians were saved. Speaking at the inauguration ceremony of the new Standard Chartered Head Office on Wednesday, 3rd October, 2018, President…
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Unemployment in sub-Saharan Africa to hit 31 million in 2019 – ISSER
The Institute of Statistical, Social and Economic Research (ISSER) is projecting that the number of unemployed persons within sub-Saharan Africa will increase by 2.2 million by 2019. This will translate into 7.6 percent increase in the unemployment figure for the region. According to ISSER, the unemployment numbers for sub Saharan Africa are expected to increase…
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Cut expenditure, corruption to reduce debt stock – ISSER
The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called on the government to focus on tackling the country’s growing public sector debt. The Institute says failure to meet domestic revenue mobilization targets, coupled with increasing government expenditure makes it difficult to deal with the debt situation. Presenting ISSER’s…
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MTN delights customers on Emirates Airbus A380
Five customers of MTN Ghana have been given upgraded services on Emirates Airbus A380 which landed in Accra on Tuesday [October 2, 2018]. A statement from MTN said, ‘MTN is set to delight its customers today as Ghanaians welcome for the first time the world’s largest passenger plane, the Airbus A380 to terminal 3 at…
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![Ghanaian-piloted A380 aircraft receives rousing welcome [Photos]](https://citibusinessnews.com/wp-content/uploads/2018/10/Emirates-A380-1.jpg)
Ghanaian-piloted A380 aircraft receives rousing welcome [Photos]
History was made today in the country’s aviation section as the world’s biggest passenger aircraft, Airbus A380, belonging to Emirates Airlines, made a debut touch down in Ghana. The double-decker aircraft arrived at the newly constructed Terminal 3 of the Kotoka International Airport on Tuesday afternoon to a rousing welcome by some airport staff and…
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Dr. Nduom leads campaign to stop panic withdrawals
Following recent developments of panic withdrawals within the financial sector, the Chairman of GN Bank, Dr. Papa Kwesi Nduom will lead a team of bank officials to begin a tour of the ten regions on Wednesday 3rd October with the theme “STOP THE PANIC WITHDRAWALS AND STRENGHTEN OUR INDIGENOUS BANKS”. The team will use the…