Monday, February 17, 2025

Business

BoG erred in revoking my microfinance company’s license – Minister-designate

The Public Enterprises Minister-designate has refuted claims that his microfinance company, Daily Capital Microfinance Ltd, did not meet the minimum capital requirement by the Bank Of Ghana (BoG). Joseph Cudjoe told Parliament’s Appointments Committee Tuesday, that the development which led to the revocation of the company’s license came to him as a shock. He said to the best...

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Price of goods and services up by almost 10 percent

Latest data released by the Ghana Statistical Service, GSS, indicates that on a year-on-year basis (January 2020 to January 2021), the average price of goods and services across the country increased by 9.9 percent. The rise in the inflation rate for January 2021, is however lower than the rate recorded for December 2020 by 0.5 percentage point, and...

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Highway Robberies: Police assures striking tomato traders security escorts

The Inspector General of Police has assured tomato traders and transporters of police and military escort to protect them against highway robbery. This is in response to a petition by the group following persistent attacks on the Kumasi-Bolgatanga-Burkina Faso route, leading to the death of some members. The traders are however yet to call off their strike. The...

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Coffee farmers unhappy about less investment in the industry

Coffee grows well where cocoa develops but Ghana exported less coffee of only $34,000 in 2018. Coffee farmers therefore find it shocking that government is not investing in the coffee value chain as it requires minimal capital. President of the Coffee Federation of Ghana, Chief Nathaniel Ebo Nsarko speaking on “Talking Business with Nhyira Addo on Joy Prime”...

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FDA working to approve coronavirus vaccine amidst second wave

Delese Mimi Darko, FDA, Chief Executive Officer The Food and Drugs Authority (FDA) has revealed that as part of its activities for 2021, it is working with the Ghana Health Service and the Ministry of Health to ensure that a Covid-19 vaccine is approved for the use by Ghanaians. According to the Chief Executive Officer of the Authority,...

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Cedi will be fairly stable in 2021 – BoG

The Bank of Ghana has given the firm assurance that the Ghana cedi will be fairly stable in 2021. This follows projections from the Economic and Finance Think Tank, Center for Economics Finance and Inequality Studies (CEFIS) that the cedi will end the year at GH¢6.45. According to the Center, the local currency will also hit GH¢6.24 pesewas...

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New anti-money laundering law awaits President’s assent

President, Nana Akufo-Addo will soon assent into law the Anti-money Laundering Bill, 2020 following its passage last week Thursday by Parliament. The law is expected to curb illicit financial inflows, deal with various financial malfeasance as well as enabling Ghana to comply with international best practices once it is fully operational next year. In effect, people with unexplained...

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President Akufo-Addo’s govt commences 2nd term economic game plan

Having secured a second term in office – albeit this being contested by the opposition National Democratic Congress – President Nana Akufo-Addo is already planning how to execute his plans for Ghana’s economy from 2021 to 2024 and leave an unforgettable legacy. Considering how committed he has proved to be with regards to structural change for the economy...

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Prices of fuel to increase in December – IES

IES has projected the rise in the price of fuel on the domestic market in December. According to the Institute, the sharp increase is as a result of the 11.5% increase in prices of International Benchmark- Brent crude, the 6.94% increase in prices of Gasoline, the 7.26% increase in Gasoline prices and the stability of the local currency....

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