Tag: Ghana Business
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DKM customers abandon court injunction plan
The aggrieved customers of DKM Microfinance in Tamale, seeking an injunction over payments scheduled for next week Monday [October 17, 2016], have abandoned the move to hit the courts. The customers, on Monday [October 10, 2016], initiated processes for an injunction to halt the payments of monies to validated creditors. They argue that there is…
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Business strategist proposes mergers for SMEs
The Chief Executive Officer of Breakthrough Consult, Caleb Ayiku has advised Small and Medium scale Enterprises (SME’s), to merge with already established businesses to promote their businesses and expand their capital. According to him, most SME operators tend to rely solely on their profits which is not enough to push their businesses, forcing the sudden…
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Local cement supply short of demand – Spio Garbrah
The Minister of Trade and Industry, Dr Ekwow Spio Garbrah has told Citi Business News Ghana does not possess the capacity yet to provide the needed quantity of cement to satisfy the country’s cement demand. According to him, the quantity manufactured in Ghana is not enough to meet demand. “The ministry is actually seeking an…
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Government to achieve local dollar bond target
The transaction is going on very well and the target of between 25 and 50 million dollars will be achieved. This is the assurance from the joint book runners of government’s first local dollar bond. The bond, which was issued last week Monday, is expected to close today. A statement on the issue from the…
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Trade Minister defends cement imports from China
Trade and Industry Minister, Dr. Ekwow Spio Garbrah has clarified that the regulation on cement importation was set up to control the importation of cement into the country and not to totally ban them as being asserted by cement manufacturers in Ghana. According to the Minister, the 500 thousand tonnes imported by Fujian, a Korean cement…
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Inflation hits 17.2 percent in September
Inflation for September 2016 went up to 17.2 percent. This represents a 0.3 percent increase compared to the 16.9 percent recorded in August this year. The monthly change rate between August and September was 0.2 percent; down from the negative 0.6 percent recorded in August 2016. Figures released by the Ghana Statistical Service (GSS) also…
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Banks welcome minimum capital revision
Some banks in Ghana have lauded the decision by the central bank to increase the minimum capital requirement of banks. According to them this will provide a platform for banks to perform bigger transactions and intervene in the productive sectors of the economy. In an interview with Citi Business News, the Managing Director of Capital…
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Ghana’s debt to GDP to hit 70% mark if… – Economist
Ghana’s debt to GDP ratio could hit the 70 percent threshold if the base rate for calculating the figure, is adjusted to reflect current growth targets. This is the indication from economist, Dr. Eric Osei Assibey. Crossing the 70 percent mark is also likely to affect Ghana’s international credit rating. “The projection was about 4.9…
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Biz of elections: Chinese take over election printing deals (Audio)
You will expect that during this period (fourth quarter of an election year) most local printing companies will be making some good profits because most political parties and politicians will be making a lot of demands for their services. But a visit to Accra New Town road, known to be Ghana’s printing hub, shows this…
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Bankers debunk claims of possible deposit slowdown
Some banks have debunked claims of a possible slowdown in deposits from customers due to the upcoming general elections. According to them, although they are threatened by the upcoming elections as businesses in the industry may slow down, they are hopeful of a good 4th quarter. “We don’t expect deposits to slow down; the level…