Tag: Ghana News
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Officials of Quick Credit, Marwako picked up for privacy breaches
Officials of three (3) companies have been picked up for questioning for allegedly breaching data protection laws. This was captured during the commencement of an enforcement exercise of data laws by the Data Protection Commission. The companies are Hisense Ghana Limited, Quick Loan and micro-Investments limited and Marwako Fast Food. Quick Credit Investment and Micro-Credit…
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BoG not mandated to report daily activities to Parliament – Kyei-Mensah-Bonsu
The Majority Leader, Osei Kyei-Mensah-Bonsu, has strongly criticized the Minority Leader, Dr Cassiel Ato Forson, for calling for the resignation of the governor of the Bank of Ghana (BoG) and his deputies amidst allegations of financial mismanagement. The Minority in Parliament is demanding the resignation of Dr Ernest Addison and his deputies, levelling grave allegations…
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Akufo-Addo must address nation on BoG ‘crisis’ – Ato Forson
Minority Leader Dr Cassiel Ato Forson has asked President Nana Addo Dankwa Akufo-Addo to address the nation on the government’s measures taken to resuscitate the Bank of Ghana (BoG). “Given the unprecedented collapse of our central bank, it is imperative for the President of Ghana to urgently address the nation. During this address, the President…
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Ghana pursues double taxation, bilateral investment treaties with Trinidad and Tobago
A delegation from the Ghana Investment Promotion Centre (GIPC), and the Ghana Export Promotion Authority (GEPA) have engaged authorities of Trinidad and Tobago about considering Double Taxation and Bilateral Investment treaties, to further enhance trade flow between the two nations. The talks were held, when the delegation met with representatives of Trinidad and Tobago’s Chamber…
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IMF justifies BoG’s GHS 60billion DDEP-induced loss
The International Monetary Fund (IMF) has backed the Bank of Ghana’s GHS 60 billion loss incurred in 2022. The Fund says the impairment which was brought on by the government’s Domestic Debt Exchange (DDE) was necessary to “restore macroeconomic stability and public sustainability.” The Bank of Ghana incurred the loss largely as a result of…
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Republic Bank MD speaks at 21st Trans-Atlantic trade and investment in Trinidad & Tobago
The Managing Director of Republic Bank (Ghana) PLC, Mr. Benjamin Dzoboku has delivered a presentation on behalf of the Group President and Managing Director, Mr. Nigel Baptiste, at the just-ended 21st Trans-Atlantic Trade and Investment Symposium organized by the Emancipation Support Committee of Trinidad and Tobago as part of the Emancipation Day Celebrations at the…
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Inflation rises for the third consecutive month; hits 43.1% from 42.5%
Ghana’s inflation continues to surge as it rises for the third consecutive month, reaching a new high of 43.1% for the month of July from the previous mark of 42.5%. The new figures were announced on Wednesday, August 9, by the government Statistician Prof. Samuel Kobina Annim. Food prices rose significantly to 55.0%, whereas non-food…
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SSNIT readies for new DDEP; says terms are favourable
The Social Security and National Insurance Trust (SSNIT) says it will fully participate in government’s alternative Domestic Debt Exchange Programme (DDEP) including pension funds. The government intends to restructure ¢31 billion pension funds in the second phase of its Domestic Debt Exchange Programme which will affect E.S.L.A. Plc and Daakye Trust Plc. SSNIT says it…
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ISSER calls for limits on Bank of Ghana’s government financing
The Institute of Statistical, Social and Economic Research (ISSER) has called for a decrease in the Bank of Ghana’s (BoG) funding of the government budget, emphasising that such deficit financing by the central bank has significant implications for money supply, inflation, and the exchange rate. In its assessment of the government’s Mid-Year Budget, ISSER highlighted…
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Cylinder Re-circulation: COPEC warns of chaos if NPA rushes implementation
The Chamber of Petroleum Consumers (COPEC) has advised the National Petroleum Authority (NPA) to enhance public education on the implementation of the Cylinder Re-circulation Model before its complete rollout in September 2023. Perry Okudzeto, Deputy Director of the NPA, explained during a press briefing on Thursday [August 3, 2023] that the model had undergone successful…