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NCA scandal: 4 former officials to face prosecution – Hamid

Information Minister, Mustapha Hamid has emphasized that investigations are currently still ongoing to enable possible prosecution of the individuals at the centre of an NCA money siphoning scandal. According to government, it is awaiting the result of the investigations into the matter by the Bureau of National Investigation(BNI) to take a decision on the fate of the individuals involved in …

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Poultry farmers livid over delay in GH¢6m loan refund

  Ghana’s poultry industry has been hit with yet another challenge as loans secured under the past NDC government for the acquisition of machinery and other inputs for poultry framers has gone down the drain. Poultry farmers are threatening legal action should government refuse to refund the GHc6 million cedis that was used in financing the pilot phase of the …

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Experts Storm Ghana For Single Window Confab

West Blue Consulting, in partnership with the International Customs Chamber (ICC), will organize a national stakeholder conference on the Ghana National Single Window and Trade Facilitation Agreement in Accra tomorrow, Tuesday, 9th May. The event, which is on the theme, ‘Single Window and the WTO Trade Facilitation Agreement-Key Tools for Trade Development,’ is supported by World Customs Organization (WCO) and …

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VRA still owes gas suppliers – WAPCo

Citi Business News can confirm that Ghana is yet to settle outstanding debts owed Nigeria Gas Company and subsequently, the West African Gas Pipeline Company (WAPCo). There were recent reports that government had settled all debts owed N-Gas hence WAPCo. But WAPCo has denied receiving any payment for the debts estimated at 100 million dollars. The erstwhile NDC government last …

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Barclays bank says one-off charges hit Q1 bottom line

London (AFP) – British bank Barclays, whose chief executive faces a regulatory probe, said Friday that first-quarter net profits sank by more than half on a large impairment at its Africa division. Profit after taxation dived to £190 million ($245 million, 225 million euros) in the first three months of 2017 after taking a vast £884-million charge on its Africa …

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AG’s report already contained 2015 bauxite proceeds – BoG

The Bank of Ghana has clarified that the US$41.05 million proceeds from bauxite had already been accounted for in the Auditor General’s 2015 Statements of Foreign Exchange Receipts and Payments report. Documents cited by Citi Business News indicate that financial proceeds of the mineral were accounted for but in a separate column as the means of repatriation did not form …

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It will cost Ghana at least GH¢1.4 billion to restore about fifty percent of lands affected by illegal mining activities in the Western region. This is the suggestion from some environmental analysts. The attention by policy makers have intensified recently following the alarming rate of the devastating impacts of illegal mining activities on the environment. The development has since resulted …

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BoG backs laws to demand data on gold exports

The Bank of Ghana (BoG) has backed moves for laws to compel the Minerals Commission to submit data on export proceeds from gold to guide the tracking of export receipts. The central bank believes this will prevent possible instances of under-invoicing by some gold exporters. The comment also follows concerns raised by some members of Parliament’s Public Accounts Committee (PAC) …

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Travel, tourism contributed GH¢4.5bn to 2015 GDP

Travel and tourism contributed some GH¢4.5 billion to Ghana’s economy in 2015. Mr Seth Yeboah Ocran, President of the Ghana Car Rentals Association on Friday said domestic tourism could develop through the effective collaboration of stakeholders. He said domestic tourism alone contributed immensely to the socio-economic development of the country, and it was important to look at measures that would …

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Gov’t to implement required reforms to aid completion of IMF program

The Finance Minister has assured government will be able to implement all the required reforms to help complete the International Monetary Fund (IMF) program as scheduled. Ken Ofori-Atta’s assurance follows concerns that government might have to embark on a “crush program” to help meet the April 2018 deadline for complementing the FUND program. Speaking to JOYBUSINESS on the sidelines of …

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