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Blue Ocean Investments, GTPCWU sign agreement to forestall agitations in oil and gas sector

Blue Ocean Investments Limited, has signed a collective bargaining agreement with the General Transport, Petroleum and Chemical Workers Union (GTPCWU), an umbrella body for oil and gas sector workers in the country. The agreement, which was signed on Monday, August 10, 2020, seeks to govern all labour and remuneration issues between Blue Ocean Investments and […]

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CBG stronger now, could go international – Gideon Boako

The Vice President’s Spokesperson, Gideon Boako, says he has high hopes for Consolidated Bank Ghana Limited and expects it to go international. CBG was birthed from the merger for five struggling banks during the banking crisis. Dr. Boako reiterated the government’s defence of the handling of the banking sector and the need to create CBG […]

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Akufo-Addo to hand over AfCFTA Secretariat building to AU Commission on Monday

President Nana Akufo-Addo will on Monday, August 17, 2020, hand over the African Continental Free Trade Area (AfCFTA) Secretariat Building to the African Union Commission (AUC) in Accra. The Secretariat, which will administer the free trade agreement for creating a single market across 55 countries, is located along the Liberia Road in Accra. Together, the […]

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Dalex Finance donates towards 20 for ’20 Campaign

Dalex Finance has presented a cheque of GHS20,000 towards the 20 for ’20 Campaign. The 20 for ’20 Campaign is a fund-raising initiative instituted by the Office of Institutional Advancement at the University of Ghana to raise funds for the [email protected] Endowment Fund and other projects. Mr. Richard Obeng Dwamena, Head of Finance, Dalex Finance […]

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Shareholders will enjoy dividends soon – ADB Board Chairman assures

Shareholders of the Agricultural Development Bank (ADB) have been assured of dividends soon as the Bank continues on the path of sustainable growth and profit making. According to the Board Chairman, Lawyer Alex Barnasko, under his leadership the Bank was now making profit and with a well laid out strategy shareholders will soon enjoy dividends […]

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Fraud cases in banking sector increases by 5.5 percent in 2019–BoG report

New figures released by the Bank of Ghana show that fraud cases in the banking sector increased to 2,295 from 2,175, representing 5.5 percent in 2019. The marginal increase in the number of fraud cases according to the central bank could partly be attributed to the improved efforts by the Financial Stability Department to identify, […]

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Fraud cases in banking sector increase by 5.5 percent in 2019–BoG report

New figures released by the Bank of Ghana show that fraud cases in the banking sector increased to 2,295 from 2,175, representing 5.5 percent in 2019. The marginal increase in the number of fraud cases according to the central bank could partly be attributed to the improved efforts by the Financial Stability Department to identify, […]

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Aggrieved customers of defunct First Allied Savings & Loans demand locked up cash

Some customers of defunct First Allied Savings and Loans Limited on Monday besieged the Kojo Thomson Road branch of the Receiver’s payment center to demand payment of their locked-up funds. President Nana Akufo-Addo had recently claimed that 98% of the depositors of the microfinance and savings and loans companies have received their monies. He added that  […]

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Gov’t requests US$1.3 billion syndicated loan to purchase cocoa for 2020/2021 crop season

Government is seeking parliamentary approval to borrow US$1.3 billion to finance the purchase of cocoa for the 2020/2021 crop season. An additional GHS6.5 million in tax waivers has also been presented to Parliament. The requests were made before the Finance Committee of Parliament on Monday, August 10, 2020. The House is expected to debate and […]

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ADB encourages customers to update their records

The Agricultural Development Bank Limited (ADB) is encouraging customers to update their customer information details to ensure that all their details are accurately captured by the Bank. To ensure this , the Bank encouraging customers to visit the Bank’s website www.agricbank.com or any of the 83 branches nationwide to effect the update of their personal […]

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Prices of foodstuff to go down this month – ESOKO Ghana predicts

Commodity Analyst, Esoko Ghana, says the prices of some foodstuff are likely to see a further reduction in the month of August. The prediction is based on the rains witnessed in the first half of the year as well as the easing of COVID-19 restrictions. In July, there was significant price reductions for some commodities […]

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1D1F: Ekumfi Juice, Casa De Ropa to pick up after COVID-19 slowed production

Mangers of two major factories under government’s One District One Factory initiative in the Central Region, Ekumfi Fruit and Juices Factory, and Casa de Ropa company, say although they have been negatively impacted by the COVID-19 pandemic, their production capacities have not been significantly reduced. The two firms, which have received credit facilities from the […]

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SEC urges fund managers to invest more in ICT services

The Director General of the Securities and Exchange Commission, SEC, Rev. Daniel Ogbarmey Tetteh, has emphasized the need for fund managers to leverage on technology for business growth. According to him, the impact of information and communication technology (ICT) in the securities industry has become increasingly critical considering the impact of the novel Coronavirus on […]

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First Atlantic Bank launches 25th anniversary; commits to sub-regional expansion

First Atlantic Bank has launched its 25th Anniversary celebration with a commitment to continue providing its customers with innovative products and services as it positions itself for bigger competition in the West African sub-region. Speaking to Citi Business News, the Managing Director of the bank, Odun Odunfa, said, the milestone will be marked in all […]

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ADB shows impressive half-year performance despite impact of COVID-19

The Agricultural Development Bank (ADB), has posted impressive financial growth in its half year results even in the face of the Coronavirus pandemic that has wreaked havoc to all sectors of the economy including the financial sector. But the unaudited half year results published by the Bank last week showed a growth in all key […]

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Local banks now more resilient and able to support economic growth agenda – Finance Minister

The Finance Minister, Ken Ofori-Atta, says the banking sector reforms undertaken by government in 2017 and 2018, has strengthened local banks, making them more resilient to shocks. Assessing the balance sheets of local banks currently, the Finance Minister argued that the financial health of Ghanaian-owned banks are stronger compared to the period before the cleanup […]

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Beverage producers optimistic eased COVID-19 restrictions will revive operations

Beverage producers in the country are hopeful the decision by government to provide stimulus package for small and medium enterprises will help large firms to continue supplying their clients in the value chain. A recent survey by the Ghana Statistical Service revealed that even though COVID-19 negatively impacted businesses, SMEs were the hardest hit with […]

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We’ve instituted stringent measures to detect distressed banks – BoG Governor

The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors. The Governor says the measures include tightening of the bank’s supervisory role to stop the […]

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ARB Apex Bank increases operating income by 17 percent for 2019

Although falling interest rates remain a burden on the profitability of the Bank, ARB Apex Bank put up an impressive performance, increasing its total operating income by 17 percent from GHS55.5 million in 2018 to GHS64.96 million in 2019. Assets of the Bank recorded a significant growth of over 47 percent from GHS394.5 million in […]

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Be mindful of MoMo fraudsters – MTN urges consumers

While mobile money transactions have increased financial inclusion and made money transfers less stressful over the past years; it comes with some disadvantages as well. One of the challenges for users of the platform in Ghana these days is the phenomenon of Mobile Money fraud. The fraud is either perpetuated physically through robbery attacks on […]

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Tamale: Customers of MyBank Financial Services demand locked-up cash

Aggrieved customers of MyBank Financial Services, one of the defunct Microfinance and Savings and Loans Companies in Tamale in the Northern Region, are demanding the payment of their locked up investments. A group of customers in a petition to the Board of Directors of the defunct company, said they are disappointed in the managers of […]

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DIONS Entrepreneurship Ecosystem begins registration for free training on entrepreneurship

DIONS Entrepreneurship Ecosystem has commenced enrollment to groom and empower 1,600 young entrepreneurs across the 16 regions of Ghana for its 2020/2021 cohort. Hundred qualified individuals will be selected each month for the next 16 months starting from September 1, 2020 to December 2021. The fellowship will offer practical support including equity funding to equip […]

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COCOBOD imports weighing scales to stop LBCs from cheating cocoa farmers

The Ghana COCOBOD says it is importing electronic weighing scales for Cocoa License Buying companies to prevent the tampering of machines by Licensed Buying Companies to cheat cocoa farmers. The decision was arrived at after COCOBOD in collaboration with the Ghana Standards Authority followed up on a Joy News report on how some Licensed Buying […]

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Jobs and the environment will be protected in sale of Bogoso-Prestea Mine – Golden Star

Golden Star Resources Limited says the agreement with Future Global Resources to trade off 90 percent interest in the Bogoso-Prestea Gold Mine will not affect jobs. The Mine employs about 600 directly and 600 others indirectly. The President and Chief Executive Officer of Golden Star, Andrew Wray, who gave the assurance, says the new owner […]

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Construction Industry Chamber expresses concern over rising cost of building materials

The Ghana Chamber of Construction Industry has expressed concern about the rising cost of building materials particularly cement and its impact on the cost of housing. The Chamber says considering the country’s huge housing deficit and the rising cost of rent, it is imperative that government takes steps to ensure a reasonable pricing of goods […]

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We’re supporting SMEs to grow amidst COVID-19 threat – Bank of Africa MD

The Managing Director of Bank of Africa (BoA), Mr. Kobby Andah, says Small and Medium Scale Enterprises (SMEs) have been at the heart of the bank’s operations. Against this backdrop, he says the bank is making available special packages to support SMEs to grow in the wake of the COVID-19 pandemic. He stated that the […]

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GRIDCo’s debt recovery from the ECG worsens: IES Analysis

From data collated by the Institute for Energy Security (IES), the debt of GH¢850.993 million owed to the Ghana Grid Company (GRIDco) by the Electricity Company of Ghana (ECG) in December 2019 has shot up by almost 31 percent to GH¢1.114 billion as of end June 2020. The Institute’s trend analysis of cash receivables of […]

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3-week lockdown reduced wages of over 770,000 workers; caused 42,000 layoffs – GSS

The shock caused by the COVID-19 pandemic has had considerable impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, cutting wages, and in some cases laying off workers, particularly within the 3-week partial lock-down aimed at curtailing the spread of the virus. This is according to results from a new […]

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La Palm Royal Beach Hotel staff protest again over unpaid salaries; want CEO sacked

Some staff of the La Palm Royal Beach Hotel in Accra on Monday, July 3, 2020, demonstrated for the second time in about two weeks over unpaid salaries and other matters. The angry employees are also demanding the removal of the CEO, Abena Pokua Boaitey Amoah, over her supposed poor leadership. They are also demanding […]

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