August inflation rate up by 0.3 percent

The year-on-year inflation rate for August was 9.9 per cent up from 9.6 per cent recorded in July 2018. The monthly change rate in August 2018 was zero per cent, compared with the rate of 0.4 per cent recorded in July 2018. The year-on-year non-food inflation rate for August 2018 was 10.8 per cent compared […]

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Local investors, financial firms commit GHC2.5bn to One District, One Factory program

Local investors and financial institutions have so far committed about GH?2.5 billion to support the One District, One Factory program of the government. According to Deputy Minister of Trade and Industry Carlos Ahenkorah government is also expecting some $300 million from international partners. He spoke to JoyBusiness after cutting the sod for the construction of […]

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GNPC needs stricter measures to avert crude underpricing – Analyst

Some energy analysts have called for stricter measures to prevent the country from losing money through errors such as underpricing in the oil and gas industry. The advice follows an enquiry by the Minister of Finance, Ken Ofori-Atta’s into some activities of the Ghana National Petroleum Corporation(GNPC) at the TEN oil fields which was said […]

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CBG to close down 98 branches, keep 93

The newly-created Consolidated Bank Ghana Limited (CBG) will be closing down 98 of its 191 inherited branches and keeping 93, Chairman of Parliament’s Finance Committee, Dr Mark Asibey-Yeboah, has said. Briefing the media after Day 2 of the committee’s in-camera hearing at which it met with CBG officials, Dr. Asibey-Yeboah said although the management of […]

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Nearly GHS700m debt stifles GRIDCo power transmission

Power transmitter, Ghana Grid Company (GRIDCo) is struggling to operate due to the failure of as many as 39 companies to pay for services provided. The Electricity Company of Ghana (ECG) is one of the major debtors with an outstanding amount of GHS 694 million. GRIDCo says the debt situation has caused a reduction in […]

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Government had ¢20bn plan to avert ‘needless’ bank collapse -Terkper

Former Finance Minister Seth Terkper has said steps taken by the Bank of Ghana that led to the collapse of seven banks could have been avoided. He said the defunct banks could have been saved if a workable strategy put in place had been properly applied. This strategy he said was designed by the NDC […]

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BoG reduces cash in circulation with re-opened bonds

The Bank of Ghana (BoG) could be mopping up excess liquidity in the economy with the re-opening of three Government of Ghana bonds. By this, the central bank is seeking to reduce money in circulation to tame inflation and other economic impacts. The settlement for the three bonds is expected to be made today [September […]

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Germany likely to put up car manufacturing plant in Ghana – Angela Merkel

The governments of Ghana and Germany are likely to sign an agreement, Thursday that will lead to the setting up of a car manufacturing plant in the West African country. The agreement will involve German car manufacturing giants Volkswagen if it is consummated. This was disclosed by the President Nana Akufo-Addo as he received German […]

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40% of Ghana’s unproductive cocoa trees to be cut down

Ghana and Cote D’Ivoire have launched a joint action to step up efforts at fighting the Cocoa Swollen Shoot Virus Disease (CSSVD) Control Programme at Pilla 34 and Manzanouan, both border towns in the Western North Cocoa Region. The exercise would require the farmers to cut down their cocoa trees for new ones to be […]

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New development bank in the offing – Ofori-Atta

Minister for Finance, Ken Ofori-Atta has revealed that there are plans to have another development bank, which would create a guarantee system to support agriculture. He made this known at a forum on the collapsed banks, organized by the Danquah Institute in collaboration with Citi FM. The Minister was expectant that the new bank should […]

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