Tag: Ghana Business News
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Goil pursues MMT, others over GH¢12m debt
Oil marketing company, Goil, is hopeful that it will be able to recover the estimated 12 million cedis owed it by state transport company, Metro Mass Transport (MMT), by the end of the year. It follows what the company says is its plan to recover its debts and invest the proceeds into its business from…
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SES urges laws to solidify improved digital market in Ghana
The government must expedite the passage of laws that will allow it to benefit from the increased market opportunities presented by Ghana’s growing digital market. As such, efforts to move unto a national digital platform must be quickened so as not to lose benefits to other competitors across the sub-region. A latest study by satellite…
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Producer Price Inflation drops again to 3.7% in March
Ghana’s Producer Price Inflation (PPI) has dropped for the third time in a row to 3.7 percent as at March 2018. The PPI measures the average change over time in the general prices received by domestic producers for the production of goods and/or provision of services. Comparing the March figure to that of February, the…
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Agric Ministry bridges funding gap with new model
Farmers in the country should be able to secure increased credit from banks with the coming on board of the Ghana Incentive Based Risk Sharing Agricultural Lending (GIRSAL). According to the Ministry of Agriculture, GIRSAL which will be rolled out this year is meant to serve as an incentive for banks to increase their lending…
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BoG sanitises industry with new borrowers & lenders law
Customers of commercial banks would be restricted in their borrowings from any bank in the coming months if he/she does not have a credible loan repayment track record. This will follow the strict enforcement of the new Borrowers and Lenders Act, by commercial banks in the country. The Bank of Ghana has served notice it…
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COCOBOD restructures debt payment plan with CPC, WAMCo
The Ghana Cocoa Board (COCOBOD) is confident of an eventual repayment of all outstanding debts owed it by institutions that rely on its supplies. The industry regulator believes the new terms should also afford such debtors, time to turn around their operations to grow the cocoa industry. The Cocoa Processing Company (CPC) and the West…
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Parliament to ratify free trade agreement upon recall
Ghana could be among the few African countries to ratify the Continental Free Trade Agreement within the coming days if Parliament agrees to the pact when it resumes sitting on Thursday, April 26, 2018. The House though on its annual recess, has been recalled to sit for two days, that is on Thursday and Friday; April…
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IMF to release $236m to Ghana in May
The IMF should be releasing about two hundred and thirty-six million dollars ($236,000,000) to Ghana under the agreement with the Fund, by the first week of May this year. This will be the total of the fifth and sixth disbursements under the economic support program. These among others were the highlights at this year’s spring…
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Agric’s contribution to GDP records eighth decline in a row
Despite plans by the current administration to revamp the agricultural sector and make it the leader of Ghana’s economy, the sector has rather seen a decline in its contribution to GDP for yet another time. At least this is according to the 2017 figures released by the Ghana Statistical Service. The percentage of its contribution…
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Underpricing ‘killing’ utility providers in sub-Saharan Africa – World Bank
The World Bank has identified under pricing as the biggest threat to the survival of utility companies providing electricity, in sub-Saharan Africa. As a result, the Bank is predicting of a possible drop in private sector participation to improve operations of such companies if the situation remain unresolved. The World Bank attributes the worrying impact…