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Government has comprehensive incentives for the 1D1F initiative – Alan Kyeremanten

Mr Alan Kwadwo Kyeremanten, Minister of Trade and Industry on Tuesday said government has outlined a very comprehensive set of incentives for Companies and Businesses that promote the, “One District One Factory” initiative to develop the country. The incentives include duty free status for importing machinery and equipment, duty free for importing all raw materials for the Company, a Five-year …

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Fuel prices hit GHC5 plus mark

The price of fuel has hit the GHS5 mark as of Monday, 17 September 2018 in line with the Institute for Energy Security’s prediction to that effect in the second pricing window of September 2018. According to IES’ Research Analyst Mikdad Mohammed in a statement on Thursday, 13 September 2018, “While it remains a viable possibility that competition over market …

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Expect more fuel price increases over cedi woes – Energy Institute

The Executive Director of the Institute of Energy Security (IES), Paa Kwesi Anamoah Sakyi, has warned that fuel prices at the pump will continue to go up until the cedi stabilizes. According to him, Bulk Oil Distributors who buy crude oil from the world market will have no option but to pass on the increasing cost of fuel to Ghanaians. …

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Exports under AGOA hits US$748m in 2017

Renewed confidence in the African Growth and Opportunity Act (AGOA) has resulted in an upward trend, with the country’s trade under the programme registering a total of US$748million last year, according to the Ghana National Chamber of Commerce and Industry (GNCCI). The surge in performance reflects the collective efforts by government and other stakeholders including the chamber in strengthening the …

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Moral crisis caused collapse of 7 banks – Deputy Governor of BoG

The Second Deputy Governor of the Bank of Ghana (BoG) Elsie Addo Awadzi has attributed the collapse of the seven banks in the country to a moral crisis charaterised by breakdown in values, unethical behaviour and disrespect for the sweat and hard work of others. “While others describe the collapse of the banks as a banking crisis, I see it …

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Panic withdrawals could collapse economy – Paa Kwesi Nduom

In the wake of the crisis in the financial services industry and banking sector, a leading Ghanaian entrepreneur, Dr Papa Kwesu Nduom, has said the rate at which clients are redeeming their investments and making withdrawals, few investment companies and banks could survive what is happening within the sector. Expressing serious concerns about the rate of panic redemption of investments …

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President Akufo-Addo tours potato processing factory in Central Region

President Addo Dankwa Akufo-Addo on Saturday, September 15, 2018, toured a 300-acre potato processing factory at Gomoa Bewadze in Central Region. The President was accompanied on the tour by Trades Minister, Alan Kyerematen, and other governmental officials. The visit to the potato factory, called Casa De Ropa, is part of the President’s tour of the Central Region which started on …

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How can we import so much and expect a strong cedi – Economist asks

The only way managers of the economy can rescue the cedi from its repeated slump against major trading currencies, especially the US dollar, is for them to embark on heavy industrialisation and get Ghanaians to consume their own products, Senior Economist at the University of Ghana, Dr. Ebo Turkson, has said. His comments come on the back of the cedi …

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‘Greedy few behind collapse of 7 banks won’t go free’ – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has assured Ghanaians that persons responsible for the collapse of some indigenous banks in the country will be brought to book. He said it would be unfair for innocent Ghanaians to be at the receiving end of the fallouts from the collapse of seven banks within the last year. The licences of some seven banks; …

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Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’

The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The committee chaired by the CEO …

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