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Chocolate imports cost US$45m

In spite of being the second largest grower of cocoa in the world, Ghana spends an average of US$45 million(GH 216 million) every year to import chocolate and other cocoa derivatives for special occasions such as Christmas and Valentine’s Day. The imports are mostly done in the last quarter of the year, strategically to meet increased demand during the Christmas ...

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SG Ghana targets 7.5% market share by 2022

Societe Generale (SG) Ghana has said it will leverage modern technology based solutions to drive financial inclusion and grow the bank’s market share from the present five per cent to 7.5 per cent in the country by 2022. Already, the bank has deployed cutting-edge technology to support its product and service offerings to increase its present 200,000 clients under its ...

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No More Unusual Tax Incentives To Mining Companies – President Akufo-Addo Tells Africa

Nana Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has stated that it is not right that Africa, which is rich in minerals sought after by the world, should remain inhabited by the poorest people in the world. “Africa has made the world rich with our minerals; our gemstones adorn crowns and homes around the world. It is time to make Africa prosperous and ...

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IMF Donates ¢75,000 To Support ‘Kayayei’ In Accra

The International Monetary Fund (IMF) has donated 15,000 dollars (GH¢75,000) to support the establishment of an Integrated Support Centre for female head porters (Kayayei) at Agbobloshie in Accra. The Centre is to be established by Purim African Youth Development Platform (PAYDP), a Non-Governmental Organisation that empowers girls through formal and informal education. Ms Christine Lagarde, the IMF Director, during her ...

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Bank Of Ghana Reduces Policy Rate To 16 Per Cent

The Bank of Ghana on Monday reduced the policy rate to 16 per cent representing a 100 basis points. In March, 2018, the Bank reduced its rate by 200 basis points from 20 per cent to 18 per cent. The Monetary Policy Committee noted that the immediate risks to the disinflation path were well contained and the current conditions provided ...

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Security, infrastructure key in ‘Year of Return’ — Hotels association

Dr Edward Ackah-Nyamike Jnr

The President of the Ghana Hotels Association (GHA), Dr Edward Ackah-Nyamike Jnr, has urged the government to make security and basic infrastructure such as good road network, a priority in a bid to attract more tourists into the country, this year. With this year christened the ‘Year of Return’, to mark 400 years of slave trade, he said the hospitality ...

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More executive roles for women in the corporate world

Ms Millicent Clarke

The Regional Head of Human Resource (HR) at Standard Chartered Bank for Africa and the Middle East, Ms Millicent Clarke, has observed that over the years, biases against females in the corporate world has significantly reduced, as many organisations begin to tap into the immerse potential of women for growth in their businesses. She said this has led to many ...

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Forestry Commission, CEIEC sign deal to increase forest sector revenue

Mr kwadwo Owusu Afriyie(left) and Mr Liu Zhirong(right)

A Memorandum of Understanding (MoU) has been signed between Ghana’s Forestry Commission and the China National Electronic Import and Export Corporation (CEIEC) meant to lead Chinese companies to corporate with the Ghanaian government to construct a China- Ghana Forestry Economic and Trade Corporation park. The move aims at building an internationally advanced industrial cluster and bringing out strong   industrial agglomeration ...

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Ghana needs to reduce the price of gas to aid industrialisation

Dr Theophilus Acheampong

Government has been urged to take a critical look at the gas production sector by reviewing the pricing system which has a lot to do with the high price of electricity power in the country. “If we want to be competitive, if we want to support industrial growth, then ultimately it means that the price of power that people pay ...

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Hearing challenging GH¢34m fine on telcos begin

The Electronic Communications Tribunal (ECT) yesterday began hearing details of a petition put before it by the Mobile Network Operators ( MNOs) in the country over the GH34 million fine imposed on them by the National Communications Authority (NCA). The fine, which the MNOs had earlier described as too heavy, was slapped on them for what the regulator claimed to ...

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