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Time to invest in Africa is now – Dr Bawumia challenges Indian investors

The Vice President of the Republic, Dr Mahamudu Bawumia, has challenged investors to constructively engage their African counterparts as the governments and peoples of the continent gear up to take their destinies in their own hands and assume their rightful places in the comity of nations. According to Dr Bawumia, “Africa is on the move; a continent eager to shake …

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Databank debunks claim it cannot pay clients’ withdrawals

Databank, the financial services entity has had to come out to address another claim making the round; the second in three months. In January this year Chief Marketing Officer, Gillian Hammah had to come out to deny claims in the media his outfit had started dealing in gold collectibles following the collapse of Menzgold Ghana Limited. Databank he said was …

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Cedi Depreciation: Politics will not help us find solutions to it – Kweku Baako

The Managing Editor of the New Crusading Guide newspaper, Abdul Malik Kweku Baako Jnr says unless politics is taken out of cedi depreciation, it will be difficult to find a lasting solution to it. The cedi has depreciated by 8.5 percent since January 2019. Currency analysts are saying investors are withdrawing their money from the country, which was a cause …

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‘Paperless system reduces business cost from GHC 1280 to GHC 320’

The total cost of doing business at the ports has reduced from GHC 1,280 to GHC 320 after the implementation of the Paperless Clearing System. This, according to Finance Minister Ken Ofori-Atta, represents about 75 percent. Answering a question as to whether the introduction of the paperless port has increased the cost of doing business at the ports in parliament …

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Fuel prices in Ghana could hit all-time high – IES

Fuel prices are likely to hit an all-time high by close of March, according to the Institute for Energy Security (IES). IES said the expected increment is due to external shocks. Princes of fuel have crossed the GhC5 mark at the pumps. “The expected increment is not only informed by the marginal rise in finished product prices on the International …

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Ghana, Cote d’Ivoire stand up for cocoa farmers

The two lead growers of cocoa have jointly rejected aspects of a global standard on cocoa production as inimical to the fortunes of smallholder farmers and the cocoa industries in the two countries in general. Ghana and Côte d’Ivoire, who supply about 60 per cent of the world’s cocoa, insist that those aspects of the International Standardisation Organisation (ISO) 34101 …

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Parliament approves GH?2 billion request to save five local banks

Parliament Thursday approved the issuance of a Sovereign Guarantee of up to GH?2 billion in favour of Ghana Amalgamated Trust (GAT) Limited. GAT, a special purpose vehicle (SPV) backed by the government, was incorporated in December 2018 to raise up to GH¢2 billion and invest in five indigenous banks. The aim is to rescue the five indigenous commercial banks that …

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Cedi will stabilise soon – Ofori-Atta assures

The Finance Minister, Ken Ofori-Atta, has assured that the cedi will stabilise in the next few weeks. Speaking to Journalists outside Parliament House Wednesday, March 13, 2019, Mr. Ofori-Atta said government is expecting large inflows of foreign exchange which will help turn around the value of the cedi which has hit a record low of 5.6 to a dollar. “Really …

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February records 9.2% CPI inflation Rate

The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to 9.0% recorded in January 2019, a Ghana Statistical Service (GSS) report has indicated. According to the GSS, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. Acting Deputy Government Statistician, David YenukwaKombat, made this known …

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Ghanaian software engineer Maureen Biney wins top tech UK innovator award

Such a proud moment for Ghana and women in tech on the African continent and on a day such as the International Women’s Day there’s no better moment than now to share the strides being made by female Ghanaian software engineers such as Maureen Biney! I came across her recent Innovator Award presented to her by EveryWomanUK whilst scrolling through …

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