Tag: Ghana Business News
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Ghana, IMF yet to decide on mode for energy bond
The International Monetary Fund (IMF) is yet to reach an agreement with the government of Ghana on the mode of issuing the energy bond. Sources close to the matter tell Citi Business News that a final decision is likely to be made next week. The government is currently on a road show in London ahead…
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Banks reduce interest rates on deposits
Commercial banks have reduced their interest rates they offer on customer deposits. Latest figures released by the Bank of Ghana have shown that the average interest rate customers get on money deposited at banks reached 10.4 percent in September 2017. According to the Annual Percentage Rates (APR) and Average Interest (AI) report, the figure is…
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Biz registration blues cleared with e-certificate
Individuals and businesses can now patronize any service from the Registrar General’s Department (RGD) via online. The development follows the launch of the E-Certificate on Thursday, October 19, 2017. The situation at the RGD hitherto was often chaotic as business owners who patronized various services from the department could not find their way around, getting…
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Free Trade Agreements least benefit Ghana
Ghana has benefitted little from Free Trade Agreements (FTA) it has signed over the last decade. The development has also contributed to widening the country’s trade deficit recorded over the period. According to a latest research conducted by IMANI Africa, Ghana has made little use of agreements with other ECOWAS countries and the US. It…
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Cement producers fear industry collapse over imported products
Local cement manufacturers are predicting an imminent collapse of the industry should authorities fail to regulate the unfair competition from imported cement. They explain that the lack of punitive mechanisms have led to the dumping of substandard products on the Ghanaian market. A situation, the cement manufacturers contend has rendered them uncompetitive. They also fear…
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LPG marketers backdown on closure of outlets
LPG operators have announced the rescheduling of the maintenance of their retail outlets with immediate effect. The move according to the businesses, is to ensure uninterrupted supply of liquefied petroleum gas. The decision was arrived at after an emergency meeting between OMCs, Ghana Liquefied Petroleum Gas Operators and the Liquefied Petroleum Gas Marketing Companies on…
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Businesses to face sanction for non renewal of license
The Registrar General’s Department (RGD) has announced it will sanction companies that default in re-registering their businesses. The caution comes even though a deadline for defaulting companies is expected to be announced by the end of October 2017. The exercise also forms part of moves by the Registrar General’s Department to improve upon its operations.…
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Mining firms reduce targets for gold prices
Gold mining companies have disclosed that the declining price of gold on the international market has compelled them to adjust their operational strategy and forecast. The businesses also explain that the development has made them reduce their revenue expectations for their operations. The price of gold on the international market has been declining for some…
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Roadshow for GH¢10bn energy bond starts today
Government will today (October 19, 2017) embark on a roadshow for the energy sector bond to be used to clear the energy sector debt. Today’s roadshow, to be carried out in London, is the first of two roadshows to be conducted ahead of the issuing of the bond.. The bond is also expected to be…
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Poultry farmers pressurize gov’t for compensation
The Poultry Farmers Association of Ghana has blamed recent comments of selling unwholesome poultry to consumers on frustration of its members. A section of the farmers have warned they may be compelled to sell infested birds to the public if the government fails to pay their outstanding compensations. Government is yet to clear the 1.8…