Tag: Ghana Business News
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Authorities assure of no job losses as paperless ports kicks off
There is not going to be any job losses with the rolling of a paperless system at the country’s ports. That is the assurance from port authorities ahead of the implementation of the paperless system at the ports. This is expected to ease the apprehension among some stakeholders with the reduction of human interface in…
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Average mortgage rate stays at 33.1%; Bank of Africa offers highest
The average interest rate for mortgage loans among commercial banks remained at 33.1% as previously recorded in June. According to the Bank of Ghana’s Annual Percentage Rate (APR)and Average Interest (AI) report, Bank of Africa still offers the highest interest on mortgages at 36.6 percent. Bank of Baroda however offers the lowest interest on mortgage…
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Stop issuance of permits – Minister to EPA
Minister of Environment, Science, Technology and Innovation, Professor Frimpong Boateng has advised the new members of the Board of Director of the Environmental Protection Agency (EPA), to halt the issuance of permit to small scale miners. The Minister believes this is necessary until such a time that the country will be rid of all harm…
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BoG to commission audit into UT, Capital banks’ operations
The Bank of Ghana is to commission a team of auditors into the operations of UT and Capital Banks as it investigates the circumstances surrounding the collapse of the two banks. This is to follow an approval from the Public Procurement Authority as the central bank is resorting to sole sourcing in the selection of…
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GIPC hosts global leaders at 1st Investment Summit
The Ghana Investment Promotion Centre (GIPC) is to host top executives from some of the world’s largest investment firms and multinational corporations at the Ghana Investment Summit 2017. The event will be held at the Kempinski Hotel Gold Coast City in Accra from August 20 to 22, 2017. The summit is the first major gathering…
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Railway dev’t to cost $ 7.8 bn – Joe Ghartey
The Minister of Railway Development, Joe Ghartey has stated that Ghana will need an estimated 7.8 billion dollars to construct rail tracks. Although he clarifies that the figure was an estimate put together by consultancy firm “team engineers” in 2013, he asserts that the cost could possibly escalate which may increase government’s budget for the…
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Advertisers renew appeals to pass Advertising Bill
The Advertising Association of Ghana (AAG) has called for the speedy passage of the Advertising Bill. The Bill when passed will lead to the setting up of an Advertising Standard Authority which will bring together relevant industry players to ensure sanity in the industry. This is expected to be achieved by eliminating fraudsters and protecting…
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GRA educates small taxpayers to improve revenue mobilisation
The Ghana Revenue Authority (GRA) has commenced processes to educate informal sector businesses on data keeping to increase their tax compliance. It follows what the GRA believes is the low tax compliance due to the lack of information. The exercise is being conducted by the Debt Management, Compliance and Enforcement Team of the GRA. The…
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Govt to redirect NIB’s mandate to support industries
Government has announced plans to refocus the operations of the National Investment Bank (NIB) to offer financial assistance to small and medium scale businesses. Trade and Industry Minister, Alan Kyerematen explains this should also grow the businesses to boost Ghana’s industry and increase economic growth. The NIB, which is now considered as a universal bank,…
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Resist pressure for illegal siting of fuel stations – Prof. Frimpong Boateng
The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong Boateng, has advised the Environmental Protection Agency (EPA) and the National Petroleum Authority (NPA) to resist persuasion and pressure from influential people in society to site fuel stations at wrong places. Fuel and gas stations have claimed lives of hundreds of Ghanaians across…