Tag: Ghana Cedis
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Bank of Ghana cautions against online trading of Ghana Cedi notes and coins
The Bank of Ghana has cautioned against the buying or selling of Ghana Cedi notes and coins currently in circulation as legal tender on online platforms. The Bank says it is the only institution with the right to issue and redeem Ghana Cedi notes and coins in Ghana, according to Article 183 (1) of the…
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Bank of Ghana introduces new Ghc200, Ghc100 notes
The Bank of Ghana has introduced GH¢100 and GH¢200 notes to the country’s currency denomination mix. It has also introduced a GH¢2 coin. This was announced by the Governor of the Central Bank, Dr. Ernest Addison at a press conference in Accra on Friday. Explaining the rationale for these new denominations, the Governor said the…
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GRA closes down metering company over GHS6.8m tax default
The Ghana Revenue Authority (GRA) has closed down a metering company as part of its compliance and enforcement exercise in the Greater Accra region to compel businesses to pay their taxes. A special task force with the authority closed down the private metering company, Intelligent Metering and Solution Limited in East Legon. This exercise follows…
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Banking consultant bashes BoG for high lending rate
Banking consultant, Nana Otuo Acheampong, has criticized the Bank of Ghana over the country’s high average lending rate which is hovering around 33 percent. According to him, it is imperative for the central bank to roll out measures to help ease pressures on the economy and businesses. Speaking to Citi Business News, , Nana Otuo…
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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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Inflation rate hikes to run into December- GSS
The Ghana Statistical Service (GSS) has stated that the country is likely to see an upsurge in its consumer price inflation (CPI) till the end of 2016. According to the GSS activities of speculators have heightened some exchange rate fluctuations which have seen increase in some goods. Government statistician at the Ghana Statistical Service Dr…
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8 banks on the verge of collapse – Bawumia
A former deputy Governor of the Bank of Ghana and the running mate of the NPP Dr. Mahamudu Bawumia has warned that eight banks in Ghana risk collapse due to the continuous hikes of bad loans on their books. “The asset quality review of banks, conducted in 2015, shows significant vulnerability of banks to current…