Business

IMF highlights emerging threats to Ghana’s programme in review statement

An official statement issued by the IMF after completing the seventh review visit to Ghana, the Fund has highlighted key threats to the country’s ongoing programme. The Fund, for instance, took issues with Ghana’s figures in terms of revenue generation, expenditure and tax exemption measures. The review statement, published below, was, however, quick to add that authorities remain strongly committed ...

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Menzgold to pay customers their monies from Friday

Management of gold dealership company Menzgold, has announced that customers can visit branches of the company to demand their matured investment from tomorrow [Friday], September 28, 2018. Addressing a press conference today, Thursday, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, explained that the company will pay all its customers that were trading with them until September 12, when a ...

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Don’t panic, we are still strong – Savings & Loans Association

The Ghana Association of Savings and Loans Companies is assuring clients and the general public that the sector is still robust despite recent issues facing the financial sector. A statement from the association to Citi Business News admitted to challenges with some Savings and Loans Companies. But it is confident such issues should be resolved soon as most of the companies are ...

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Performance of Ghanaian Stocks

Equity May Performance 2018 Performance Produce Buying Company Ltd. 25.00% -16.67% Aluworks LTD 12.50% -43.75% PZ Cussons Ghana Ltd 4.76% 120.00% Unilever Ghana Limited 4.32% 37.31% SIC Insurance Company Limited 2.44% 320.00% Guinness Ghana Breweries Ltd. 1.56% 26.21% Republic Bank 1.56% -6.47% Ecobank Ghana Ltd 1.13% 53.03% Benso Oil Palm Plantation Ltd 1.11% 18.79% Ghana Commercial Bank Limited 1.11% 26.34% ...

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Businesses, bankers push for drop in BoG’s policy rate

The Monetary Policy Committee (MPC) of the Bank of Ghana may take any decision but increase its policy rate for banks. These are the indications from businesses and banks ahead of the announcement of the policy rate later on Monday [September 24, 2018]. The MPC has since the beginning of the year reduced its policy rate by 300 basis points, ...

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Government receives $30m World Bank support to strengthen financial sector

The World Bank has approved a $30 million International Development Association (IDA) credit to support government to strengthen its financial sector stability. The credit is also to help improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. “This project will support government’s plan to undertake reforms to deepen financial markets, promote ...

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Turkey desires to partner Ghana to run proposed national airline

The Turkish Government has expressed interest in partnering the Government of Ghana towards the operation of the proposed national airline. The Turkish Ambassador to Ghana, Madam Nesrin Bayazit, made this known when she paid a courtesy call on the Minister of Aviation, Joseph Kofi Adda in Accra, on Wednesday. She said the Turkish Airlines had the biggest network in Africa ...

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Govt. to support entrepreneurs with GH¢30m

The Ministry of Business Development has announced that government, in partnership with the Institute for the Creation and Development of Enterprise (INCYDE) foundation and CASA África, will allocate GH¢530million to train 2000 young entrepreneurs across the country beginning March 2019. The announcement was made at the signing of an Agreement between the ministry and INCYDE foundation of Spain for the ...

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Ghana tops African students in China

There are more than 7,000 Ghanaian students pursuing various degree programmes in Chinese universities, which makes them the largest group of Africans schooling in China. Spread across the 34 provinces of China, these students are pursuing courses ranging from medicine, marine engineering, business administration and various others at both undergraduate and post-graduate levels. China’s President Xi Jinping, who acknowledged this ...

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Ghana GDP Annual Growth Rate( 2015-2018): Ghana’s Economy continues to be Service Base Economy; It should be a great concern to Policy Makers

Ghana’s economy grew 6.8 percent year-on-year in the first quarter of 2018, easing from a 8.1 percent gain in the previous period. It was the weakest expansion since the first quarter of 2017, as the industrial sector and agriculture slowed. On a quarterly basis, the gross domestic product expanded 1.5 percent, slowing from a 2.1 percent growth in the prior ...

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