Tag: Ghana Business
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Tanker drivers resist ban on ‘10-year old’ vehicles
Gas tanker operators in the country have vowed to resist any move by the National Petroleum Authority (NPA), to ban the use of gas tanker vehicles that are over ten years old. The NPA recently announced that gas tankers which are above ten years will not be allowed to operate by next year. Speaking to…
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BoG to appear in court over NDK judgment debt case against Govt
The Bank of Ghana is expected to justify next week Wednesday [November 30, 2016], in court, why one of government’s account should not be frozen following the ruling in the judgment debt case between non-bank financial institution, NDK Financial Services and government. An Accra High Court granted NDK Financial services a garnishee order following a…
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Ghana’s debts to increase marginally by end of year – Economist
Economists have downplayed any significant increase in Ghana’s total debt stock by the end of 2016. According to them, this would largely be possible should some economic factors remain constant. For instance, the CEO of the Institute of Certified Economists Ghana, Daniel Amarteye Anim explained that the repayment of some maturing debts and a stable…
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Interests on loans to drop if … – Nana Otuo Acheampong
Some financial analysts are anticipating that the Bank of Ghana (BoG) will sustain the decision to reduce further, its policy rate to ease access to credit to businesses. According to them, commercial banks will respond to calls for lower interest rates if the primary reference which is the policy rate, drops. “It is in the…
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Tullow to resume 90 mmscf gas supply to Ghana Gas
Tullow Oil is expected to resume its daily 90 million standard cubic feet of natural gas supply to Ghana Gas effective today, November 22, 2016. Tullow, early this month announced a reduction of its daily natural gas supply by 40 million standard cubic feet to allow it complete a “critical turret remediation works upstream.” The…
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‘Reduced’ policy rate not good for businesses – Economist
Economist, Dr. Lord Mensah has ruled out an immediate reaction from commercial banks following the reduction of the policy rate. Though he has lauded the Bank of Ghana (BoG)’s decision to reduce the rate, he describes the figure as marginal. According to Dr. Lord Mensah, businesses must therefore be guarded in their expectations of a…
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Produce findings on Apex Bank ‘mismanagement’ – UNICOF to BoG
The Union of Industry, Commerce and Finance Workers (UNICOF) is demanding that the Bank of Ghana publishes the outcome of its investigations into the alleged mismanagement by the Managing Director of ARB Apex Bank to save the bank from further misfortune. It follows calls by the union for the MD, Kwadwo Aye Kusi to be…
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Ghana owes 112 bn cedis, hits 67.4 % of GDP
Ghana’s total public debt has hit 112.4 billion cedis equivalent to 28.3 billion dollars, as at September 2016. The figure represents about 14 percent increase from the 98.8 billion cedis recorded in January this year. The latest Economic and Financial Data released by the Bank of Ghana also indicated that the country’s total debt represents…
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GSE lobbies for patronage of the Ghana Fixed Income Market
The Ghana Stock Exchange (GSE) is impressing on companies to utilize the Ghana Fixed Income Market (GFIM) to raise funds for their operations. According to the managers of the GSE, the ready market for bonds should make it easier for businesses to adopt the platform to raise corporate bonds and meet the demand. “The market…
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HFC drives financial inclusion in Northern Ghana
HFC Bank has reaffirmed its commitment to reduce Ghana’s unbanked population by making banking more accessible. It follows the launching of the bank’s new branch in Bolgatanga in the Upper East region. The new branch is also the second to be established in the Northern zone after the Tamale branch. The General Manager in charge…