Tag: Ghana Business
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AGI wants policy rate reduced
The Association of Ghana Industries (AGI) is impressing on the central bank to reduce the policy rate and assist businesses to thrive. It comes on the back of the decision by the Monetary Policy Committee (MPC) to maintain the policy rate at 26 percent. Although the CEO of the AGI, Seth Twum Akwaboah says the…
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Reduce cost of doing business in Ghana – Veep to new BoG Board
Vice President Kwesi Amissah Arthur has made a strong case for a reduction in the cost of doing business in the country. Mr. Amissah Arthur says the high interest rate regime has deepened the challenge for most businesses especially SMEs, to access credit and expand. According to him, the situation has also contributed to the…
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Less hustle in 2nd quarter interest payment – Telcos
Telecom operators have told Citi Business News there have been less challenges with the payment of second quarter interests on mobile money accounts. The second tranche of interest payments, begun on Sunday, September 18, 2016; a week after the first tranche of payments. Some customers had expressed varied concerns over the apparent delay in payments…
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BoG worried over high lending rates
The Governor of the Bank of Ghana (BoG) Dr. Abdul Nashir Issahaku has described as worrying the country’s current average lending rate which is hovering around 33 percent. According to Dr. Issahaku, the central bank is committed to bringing down lending rates by tightening monetary policy. Speaking to Citi Business News, Dr. Issahaku said the…
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Policy rate maintained at 26 percent again
The Monetary Policy Committee of the Bank of Ghana has once again maintained the policy rate at 26 percent. This is the fourth consecutive time the Committee is maintaining the rate at 26 percent since January this year. Addressing the media at the concluding part of the 72nd meeting of the MPC, Governor of the…
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MPC announces policy rate today
The Monetary Policy Committee (MPC) of the Bank of Ghana will announce its policy rate today as it concludes its 72nd regular meeting for this year. Today (Monday)’s media briefing on the policy rate which will be addressed by the Governor of the central bank, Dr. Abdul Nasir Issahaku, is among other things expected to…
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Seth Terkper presses local investors to buy $100m bond
Information gathered by Citi Business News indicates that government has commenced meetings with local investors as it prepares to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday (September 16, 2016), to convince them invest in government’s upcoming $100 million bond this month. The bond,…
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Former lands minister calls for regulation of galamsey operations
A former minister of Lands and Natural Resources and now Minister of Roads and Highways Alahaji Inusah Fuseini has called for the licensing of galamsey operators in the country. According to Alahaji Inusah Fuseini the move will ensure proper regulation of the activities of the miners. Speaking to Citi Business News Alahaji Inusah Fuseini said…
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SEC advances moves for multinationals to list from 2017
The Securities and Exchange Commission (SEC) has given indication some multinational companies have initiated processes to list on the Ghana Stock Exchange (GSE), from next year. It comes on the back of the passage of the Securities Industry Bill (SIB) by Parliament in July this year. Though the SEC is awaiting the Presidential assent for the…
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BDCs chamber calls for calm over debt payment uncertainty
The Chief Executive Officer of the Chamber for Bulk Oil Distribution Companies Senyo Horsi has rejected revelations that government may not abide by the agreed payment plan to clear debts owed banks by Bulk Oil Distribution Companies. Government is currently indebted to about 17 Bulk Distribution Companies in excess of 500 million dollars. In government’s…