Tag: Ghana News
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We only provided credit to govt in 2020 and 2022 – BoG
The Bank of Ghana (BoG) has debunked claims that it has financed the government to the tune of GH¢80 billion. BoG said it did not provide credit to the government from 2017 to 2019 or 2021. The Bank said it was only in 2020 that it issued the GH¢10 billion COVID-19 bond to the government,…
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Local bread producers worried over influx of ‘foreign’ bakers
The bread industry in Ghana, a staple in the diets of the populace, has long been dominated by local producers. However, recent attention has turned to a new sprawling factory situated along the Accra-Tema motorway. This development has raised concerns within the community, as fears grow that large-scale production might lead to the sidelining of…
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Organised Labour to demand increment in 2024 salaries instead of COLA
Organized Labour has said that it will reject the government’s plan to introduce a Cost of Living Allowance (COLA) in next year’s salaries negotiations instead of increasing the salaries of public sector workers. COLA is an allowance given to government employees as short-term relief when immediate salary increments cannot be made. Organized Labour says that…
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BOST net profit increases by 112% in 2022, currently at GH₵342m
The net profit margin of the Bulk Oil Storage and Transportation Limited Company (BOST) has increased from GH₵161 million in 2021 to GH₵342 million in 2022. This was disclosed by the board chairman of BOST, Mr Ekow Hackman, during the institution’s 2nd annual general meeting held at their office in Accra on Thursday, August 17,…
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Govt supporting efforts to make TOR best refiner in Africa – NAPO
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production. According to the sector minister, any positive gains recorded by the state-owned refinery would help cushion the government in its operations. Speaking at the 2nd Annual General Meeting of…
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Switzerland, China two other countries account for half of all exports from Ghana
Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports. The countries are Switzerland, China, Canada and South Africa. The report further indicated that over two-thirds of all exports come from only…
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Ministry of Energy staff arrested for stealing GHC 287,775 from ADB
The Accra Circuit Court will on September 5 this year resume hearing a stealing case involving a secretary of the Ministry of Energy and the Agricultural Development Bank. Regina Abanga, a secretary at the Ministry of Energy is accused of manipulating ATM machines belonging to ADB and withdrawing sums to the tune of GHC 287,775.…
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Restore GN Savings and Loans license – Former staff urges govt
A group calling itself concerned former employees of defunct GN Savings and Loans Limited is appealing to the Akufo-Addo government to restore the bank’s license to complement efforts in creating sustainable jobs. GN Bank which was under the Groupe Nduom brand lost its operational license after it was reclassified as a Savings and Loans firm…
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GRA to rake GH¢400 million from gaming tax
The Ghana Revenue Authority (GRA) is hoping to rake in some GH¢400 million from the new gaming tax. The new tax seeks to charge 10 percent tax on bet and lotto wins. Speaking to Citi Business News, a member of the Gaming Committee at the GRA, Spio Abedu said the taxes will be deducted at…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…