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BoG must move quickly to deal with non-bank sector – Ken Thompson

Ken Thompson

The Chief Executive Officer of Dalex Finance, Ken Thompson says the Bank of Ghana (BoG) must move quickly to deal with the non-bank sector to save Ghana’s economy from collapse. Mr Thompson said the Bank of Ghana has done a good job in cleaning the banking sector adding that without a robust financial system the economy will collapse. Speaking at ...

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No ID, no service at Forex Bureaux – BoG announces new rules

The Bank of Ghana has announced a new set of directives to guide operations of Forex Bureau operations in the country. Why? According to the Bank of Ghana, the move is part of measures to enforce compliance by all licensed Forex Bureaux with the Forex Bureau Regulations issued in accordance with the Foreign Exchange Act, 2006 (Act 723), and the ...

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Economy regains momentum, moves 6 places in latest World Bank report

Ghana has made progress to improve the ease of doing business, according to the World Bank Group 2019 Doing Business Report – Training for Reform, released Wednesday. In the latest report, Ghana has improved its ranking to 114 out of 190 economies up six places from 120 in the 2018 Doing Business Report. Ghana’s ease of doing business score formerly called distance ...

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Ghana, Cote d’Ivoire close to adopting single cocoa trading system

The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has revealed that Ghana and Cote d’Ivoire are close to harmonising their system of trading cocoa at the world market. This is to give the two major producing countries some control, at the cocoa market. The harmonisation will help the two countries in their quest take a strong position on ...

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‘Import More Ghanaian Goods’

Carlos Ahenkorah

Deputy Minister of Trade and Industry, Carlos Ahenkorah, has appealed to the US government to import more Ghanaian goods to help government achieve its ‘Ghana Beyond Aid’ agenda. Speaking at a day’s Trade Africa Learning programme in Accra yesterday, themed “Enhancing Ghana’s Trade Competitiveness,” he said the move would improve trade, skill development and promote better market access. It was ...

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Gov’t targets passage of Fiscal Responsibility law by end of 2018

Government has targeted the end of this year to pass a Fiscal Responsibility Law to help cap budget deficit, Vice President Dr Mahamudu Bawumia has said. He said the passage of Fiscal Responsibility Law will ensure that the budget deficit will not exceed 5% for a fiscal year. The Vice President was speaking at the Ghana Investment & Opportunity Summit ...

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Telecoms Chamber To Engage Govt Over Tariffs Increase

Kenneth Ashigbey

The Chamber of Telecommunications has said it’s open to further discussions with the government over the imposition of taxes on the operations of its members. This follows the increase in telecom service tariffs after the recalibration of the Value Added Tax (VAT). The mid-year budget review saw the separation of the 5 percent GETFund and NHIL levies from the VAT ...

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TUC Urges Govt To Address Rising Cost Of Living

Nana Addo Danquah Akufo-Addo

The Trades Union Congress (TUC) has urged the government to introduce very pragmatic measures in the 2019 Budget to deal with the rising cost of living. It said the 2019 Budget should spell out policies and programmes to tackle the persistent weaknesses in the economy and the numerous social and economic challenges that were making life unbearable for the majority of ...

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Ghana launches online mall to create jobs

The Ministry of Business Development has launched a digital platform, Ghana Online Mall, to create jobs and also serve as a start up for micro, small and medium scale businesses in the country and to revamp marketing opportunities for the private sector. An initiative under the ministry’s National Entrepreneurship and Innovation Plan (NEIP), the Ghana Online Mall will also serve ...

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We must use oil to promote inclusive growth

The petroleum industry is one of the largest and most important sector of Ghana’s economy measured in terms of value addition, revenues to government, investments and export value. It is, therefore, essential that the way the industry is organised and the division of roles and responsibilities take all important public interests into account and ensure that value creation from petroleum ...

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