Tag: Ghana Business
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Analysts blame high price & timing for Access bank’s IPO extension
Stock market analysts have cited inappropriate timing and pricing as some reasons leading to the extension of the offer period for Access bank’s Initial Public Offer. “The extension was given to investors who were not able to purchase within the stipulated period. As expected for some us we were not considering the deal to be…
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Access bank extends IPO period by fourteen days
Access bank has extended its Initial Public Offer (IPO) period by two weeks. The bank has extended the closing period for the offer from November 11, 2016 to November 25, 2016. A statement from the bank on the extension said, “The Securities and Exchange Commission has granted the Bank an extension to its Initial Public…
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Prez Mahama once more defends MiDA, ECG partnership
President Mahama has stressed that private sector participation in Ghana’s power sector is inevitable if the sector is to perform satisfactorily. According to him, the long term benefits over reduced losses outweigh the immediate concerns militating against such move. The decision to allow the Millennium Challenge Corporation (MCC) to take part in the management of…
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Mortgage houses dismiss report on low demand for home loans
Information available to Citi Business News indicate that demand for home loans from mortgage houses has not declined despite a drop in home loan application from commercial banks. Though the mortgage houses admit not all applications may be granted at any particular point in time, they contend demand is still satisfactory. “There is a demand…
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MPC to announce policy rate next Monday
The Monetary Policy Committee (MPC) of the Bank of Ghana will next week Monday, announce its policy rate for commercial banks in the country. The announcement will conclude the MPC’s 73rd regular meeting which starts this Friday, November 14. For the fourth consecutive time this year, the MPC kept the policy rate unchanged at 26…
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Government considers tax cuts for women
Female taxpayers in Ghana may soon be enjoying some tax reliefs in order to promote equity and improve their livelihoods. This comes on the back of a latest research commissioned by the International Centre for Tax and Development (ICTD) in partnership with the Ghana Revenue Authority (GRA), Ministry of Finance and other international tax related…
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Government will not overspend this year – Dr. Kwesi Botchway
The National Development Planning Commission (NDPC), has downplayed fears government will overspend this year because it is an election year. Chairman of the Commission, Dr Kwesi Botchway, believes government will stay within approved expenditure levels partly due to Ghana’s current commitment with the IMF program. “We have a program that we are running with the…
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Banks blame economy for drop in demand for home loans
Banks, offering mortgage loans, have blamed the general slowdown in economic activities and a weak purchasing power among Ghanaians, as reasons accounting for the decline in the demand for mortgage loans. They argue, the development has also increased the cost of mortgages making it unattractive to prospective home buyers. The assertions come on the back…
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Ghana’s 3rd FPSO to arrive in March 2017 – ENI
Barring any last minute hitch, the Floating, Production, Storage, Offloading (FPSO) vessel for the Sankofa Gye Nyame Oil and Gas project, will arrive in Ghana in March 2017. This is the indication from the Managing Director of ENI Ghana, Fabio Cavanna. According to him, construction works have advanced steadily and the vessel is set to…
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SADA, ENI sign MOU for 50 MW solar project
Italian Oil Exploration Company, ENI is set to provide up to 50 megawatts of solar energy in the Northern Savannah Ecological zone of the country. The project forms part of efforts to increase Ghana’s energy supply to meet the increased demand. The project is also in partnership with the Savannah Accelerated Development Authority (SADA). Speaking…