Tag: Ghana Business News
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Five companies risk delisting from stock market over non-compliance
At least five companies risk being delisted from the Ghana Stock Exchange (GSE) by September 2017 if they fail to rectify all anomalies with their listing obligations. That is the indication from some market analysts. It follows the decision by the Ghana Stock Exchange to suspend the trading activities for five companies on the domestic…
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Banks’ tight loans stance reduces profits by 40% – BoG report
Commercial banks’ decision to reduce their levels of loans and advances to businesses have rather affected their profitability. As a result of this position, the profits of commercial banks had dropped by 40 percent as at June 2017. Figures from the Bank of Ghana on the banking sector indicate that the profits of commercial banks…
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Stock Exchange suspends trading for five companies
The Ghana Stock Exchange (GSE) will from Monday, August 28, suspend the trading activities of five listed companies on the Exchange. The managers of the domestic bourse say the decision is due to the failure of the said companies to meet their continuing listing obligations despite several promptings to do so. The five companies are…
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8 key Q&A s on collapse of UT, Capital Bank (Article)
The collapse of two indigenous banks; UT and Capital Banks have left in their wake discussions within the industry as to what possible conditions may have triggered the situation. The Bank of Ghana among others cited the provisions of the Banks and Specialised Deposit-Taking Institutions (SDIs) Act, 2016 as basis for allowing GCB Bank to…
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450MW Karpowership to stabilize power supply – ACEP
The African Center for Energy policy (ACEP) is hopeful the arrival of the 450 megawatts Karpowership will help improve power supply in the country. The new power generating vessel replaces an earlier once with a lower capacity of 225 megawatts at Tema. Citi Business News understands that the ship has arrived in Ghana’s territorial waters…
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How to legally & easily establish a business in the UK (Article)
Globalization and migration have made it easier for people to move from one part of the world to another, sometimes to even settle. And it’s on the back of this that the United Kingdom government has instituted various means by which foreign based companies or businesses can also easily setup branches or subsidiaries in the…
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Ghana signs MoU on promoting radio astronomy
Government under the Ministry of Environment, Science, Technology and Innovation (MESTI), has signed a Memorandum of Understanding (MoU) to institutionalize cooperation in radio astronomy. The MOU which was signed between Ghana and eight other African countries is expected to enhance collaboration between the said countries in the promotion of scientific studies and projects. It also…
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Work to get relevant laws passed – Minister to PC Board
Energy Minister, Boakye Agyarko has charged the new Board of Directors of the Petroleum Commission to work to get outstanding legislations on their operations passed into law by the end of the year. The Commission is seeking to get the Data Management Regulations and the Health and Safety Regulations by December this year. The two…
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BoG cautions public against online scheme ‘MONIDOUBLA’
The Bank of Ghana has cautioned the public to stay away from doing any business with the online financial scheme; MONIDOUBLA. The said entity’s operations involve mobilizing funds and making payments to its community members via mobile money platforms. The central bank in a statement copied to Citi Business News on Thursday said that MONIDOUBLA…
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Banks’ NPLs hit 8 billion cedis – BoG report
The Non-Performing Loans (NPLs) of commercial banks in Ghana has reached GH¢7.96 billion as at June 2017. The figure went up from the GH¢6.09 billion recorded in the same period in 2016. The latest Banking Stability report by the Bank of Ghana shows that the NPL ratio has also gone up to 21.2 percent from…