Tag: Ghana Business News
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Govt creates mining districts to regulate small scale mining
Small scale miners whose operations were suspended following the rise in illegal mining activities may have to wait a little longer before resuming work. It follows plans by the government to intensify some oversight roles by the Minerals Commission. Speaking to Citi Business News on the possible time for the resumption of work by the…
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Economists highly confident of single digit inflation in 2018
Some economists are positive Ghana will attain single digit inflation by next year. According to them, key indicators such as declining inflation and other fiscal conditions as well as the stable currency regime, could help attain single digit inflation in the future. The Bank of Ghana is optimistic of achieving a single digit inflation of…
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Businesses caution massive job cuts over 3% VAT Flat Rate
Some manufacturers are contemplating possible job cuts with the continuous implementation of the 3 percent VAT Flat rate scheme. The businesses say the tax is affecting their profit margins hence the decision to reduce the labour sizes to stay relevant in business. The options of job cuts is among the concerns raised by some manufacturers…
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Stopping galamsey: Gov’t to ban mercury imports by end of year
Government has disclosed it will ban the importation of mercury to augment efforts to curb the impact of illegal mining activities in the country. The move is expected to take effect by the end of 2017. The Minister of Environment, Science, Technology and Innovation, Professor Frimpong Boateng who announced this said the ban will restrict…
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Fuel prices to remain stable in 2nd pricing window in July
Prices of fuel are likely to remain stable in the second pricing window of July. This is the assertion of the Institute of Energy Security (IES). The Institute of Energy Security (IES) believes the cedi to dollar exchange rate, as well as the country’s stock level which is around 185 million litres are key projections…
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Fruit juice industry nears collapse over perennial challenges (Audio)
Fruit juice is believed to be the most consumed beverage next to water due to its health benefits. However, local fruit juice manufacturers have predicted that their industry will be going down on its knees soon should critical issues of raw materials and high production cost go unresolved. Citi Business News’ Pius Amihere Eduku has been…
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Average interest on deposits drops marginally in June – BoG report
The average interest offered by banks on customer deposits dropped by 2.67 percent between May and June 2017. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure declined from 11.2 to 10.9 percent within the one month period. Although its rate has dropped marginally, Omnibank…
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Customs sets August deadline to remove ‘unwanted’ check points
The Customs Division of the Ghana Revenue Authority (GRA) has disclosed that it will by the middle of August 2017 remove all check points that have impeded trade activities in the country. The plan is ahead of a September deadline to get all barriers and checkpoints removed to facilitate the movement of goods, persons and…
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National digital address system to start vigorously – Veep
Vice President, Dr Mahamadu Bawumia has assured that government will launch the national digital address system in a few months’ time. This he says will be merged with a post code to ensure the unique identification of various addresses. “In the next couple of months, we want to launch the National digital address system for…
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HFC Bank receives Exceptional Diaspora Investment award
HFC Bank Ghana, a subsidiary of Republic Financial Holdings Limited has been awarded for Exceptional Diaspora Investment in Ghana. The award is in recognition of the Republic Financial Holdings Limited of Trinidad and Tobago’s investment in HFC Bank Ghana. HFC Bank was awarded at the prestigious Diaspora African Forum Excellence Awards Dinner. Receiving the Award…