Tag Archives: Ghana

MTN To Acquire Banking Licence, CEO Says

mtn banking licence

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019. Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN CEO said it will put in an application in December and should lunch the bank in second quarter 2019. “We will be applying for a ...

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Cocoa Prices on the International Market Tumble

Cocoa Prices

Prices of cocoa on the international market have begun to tumble due to investors expectations of an imminent increase in production from top growing countries, Côte d’Ivoire and Ghana. Côte d’Ivoire, which is the world’s largest producer, is projecting a production of about 1.9 million tonnes, while Ghana is hopeful of meeting its 850,000 tonnes target for the season, something ...

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December inflation hits 11.8%

inflation rate

The inflation rate for December 2017 increased slightly to 11.8 percent, up from the 11.7 percent recorded in November in the same year, acting Government Statistician, Baah Wadieh announced Wednesday.The monthly change rate, according to Mr Wadieh comes as a result of the rise in the two main components, Food and Non-food Inflation. “The food inflation rate for December 2017 ...

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Ghana to Receive $100m from IMF

IMF

The International Monetary Fund (IMF) is expected to disburse the 5th tranche of the Extended Credit Facility (ECF) to Ghana within the coming weeks. It follows the fifth review of Ghana’s performance under the program, last week. Business.com.gh understands the Fund has not been very satisfied with government’s missing of the revenue targets considering the ambitious policies being rolled out. ...

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Ghana’s economy too difficult to understand – ISSER Fellow

ISSER

A Senior Research Fellow and Head of Economics Division of the Institute of Statistical, Social and Economic Research (ISSER), Dr Charles Ackah, has cautioned policymakers to avert their minds to the social implications of Ghana’s under-performing economy. He says the consequences, particularly of poverty, rising inequality and joblessness are dire for an economy whose growth is tottering from the year ...

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Cashew sector gets major boost

cashew

A trilateral agreement has been signed between Ghana, Brazil and Germany – meant to foster research capacities in the Ghanaian cashew sector as well as to develop cashew apple processing capacities and a market for cashew by-products. Ghana is experiencing a yield gap with a production of 700 kilogrammes per hectare, whereas other countries, including Brazil, are producing about 1,200 ...

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Continental Free Trade Area extremely important for development

Industry

Mr Alan Kyeremanten, the Minister of Trade and Industry has said that the Continental Free Trade Area (CFTA) has become an extremely important strategy for development across the regions of the world. He said this was as a result of the increasingly depending globalisation and integration. Mr Kyeremanten was speaking at the opening of the two-day 2017 African Prosperity Conference, ...

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FES, ATUMNET holds conference on fair recruitment and labour migration in Accra

ATUMNET

The African Trade Union Migration Network (ATUMNET), in partnership with Friedrich Ebert Stiftung, organised a conference in Accra to discuss issues bordering on fair recruitment in relation to labour migration. The conference which took place between September 11, and September 12, 2017 sought to explore better migration processes and to engage African governments to improve their economies in order to ...

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African forex expected to remain stable this week

performing stock markets

Ghana’s cedi is seen stable due to the central bank’s infusion of dollars into the interbank market through regular sales. The local unit was trading at 4.44 to the dollar by mid-morning on Thursday, barely moved from 4.38 a week ago and down 5 percent since January. “The central bank has steadily been in the market this week with decent ...

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Ghana pushes ahead with ICT development

ICT

Ghana has stepped up efforts to bolster its fast-growing ICT sector with the signing of a new deal strengthening cybersecurity protections. In June the Bank of Ghana (BoG) announced it had contracted a private provider, whose name has not yet been made public, to help secure the data of all banks registered under its system. The deal comes amid increasing ...

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