Tag: Ghana Business News
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Left to die: Timber industry cries for help (Audio)
The fortunes of Ghana’s timber industry continue to wane with each passing month in the absence of a clear plan to boost activities in the sector. This has also led to the collapse of majority of businesses in the once vibrant industry. Our series, ‘Left to die’, continues and my colleague Jessica Ayorkor Aryee throws…
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Env’t Ministry upbeat of Innovation Policy
The Minister for Environment, Science, Technology and Innovation Professor Frimpong -Boateng has hinted that his outfit has completed drafting the national Science,Technology, and Innovation policy and will soon go to Parliament for approval. President Akufo Addo has charged the ministry to prepare the policy to improve the country’s technological performance as well as its innovation…
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GCAA to sanction Starbow for possible safety breaches
The Ghana Civil Aviation Authority (GCAA) has disclosed to Citi Business News it will slap sanctions on local airline Starbow if it emerges that it was liable for Saturday’s incident. The latest follows the soon to commence review of the operations of Starbow Airlines. The exercise will also include the management structure and skills set…
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Cedi depreciates by 5% in 2017
Some currency analysts have predicted that the cedi’s depreciation is expected to continue, at least to the end of 2017. Citi Business News’ analysis shows a continuous streak of the local currency for a greater part of this year. For this year alone, the cedi has depreciated by about 5 percent on the interbank foreign…
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BoG reduces policy rate again to 20%
The Bank of Ghana (BoG) has reduced the policy rate by 100 basis points from 21 percent to 20 percent. This was announced after the Monetary Policy Committee (MPC) finished its 79th meeting which is the final for 2017. This is the fourth reduction for this year by the Central Bank. By this, the policy…
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President demands quality service from new PURC Board
President Akufo Addo has appointed Mr. Michael Opam as the Board Chairman of the Public Utility Regulatory Commission (PURC). He is to Chair the Board which has eight others as members. Speaking at the inauguration of the board on Monday, November 27, 2017, the President charged the Commission to sanction all utility providers that fail…
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Left to die: fishing industry on life support (Audio)
Ghana’s fish industry has been one of the major contributors to economic growth as it supports livelihoods along the coast of Ghana. But the impact of climate change and high imports has limited the growth of the local fishing sector at least for the past seven years. In the fourth of Citi Business News’ series,…
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Black Friday discount deals hit 90% (Audio)
Majority of shoppers will experience some level of reduction in the prices of products they purchase from today [November 24, 2017] and into the weekend. It follows the rolling out of the Black Friday by majority of retail giants as well e-commerce portals in the country. The move is expected to lead to discount deals…
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Creating 350,000 jobs will be tough unless – Economist
Economists have told Citi Business News that it will be tough for government to achieve its job creation agenda for 2018 if the country continues to rely on the oil sector. According to them, it will be prudent to invest and grow the real sector of the economy (comprising agriculture, industry, among others) to drive…
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GRA destroys fake smuggled goods
The Ghana Revenue Authority (GRA) on Tuesday (November 21, 2017) destroyed expired goods worth over 50,000 dollars. The goods, which were smuggled into Ghana through the Eastern corridor, include cigarettes, alcoholic beverages, pharmaceuticals as well as Indian hemp. The Chief Revenue Officer of the Customs Division of the GRA, Emmanuel Adjei believes the continuous destruction…