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Business

NPP to miss budget deficit target if … – Terkper

Seth Terkper, former Minister of Finance

Former Finance minister, Seth Terkper has predicted that the NPP government will miss its budget deficit target for this year. He argues that the government’s efforts to ensure tax compliance and cut down some expenditure may yield little impact on the economic prospects. Mr. Terkper’s arguments are contained in an article where he impresses on the NPP not to cut ties ...

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Adopt research to boost growth – Businesses urged

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Director of Graduate Studies at Noble International Business School, Dr. Hod Anyigba has said business owners can excel more within their various sectors when they see research as a back bone to their businesses. According to him, evidence based research contributes immensely to the growth of business. Addressing the press on the sidelines of a business insight workshop organized by ...

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Cash waterfall insufficient to deal with power sector debts – Analyst

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Some analysts in the energy sector say the government’s new cash waterfall mechanism to help the power sector will yield little results if the ECG fails to improve its revenue collection. They assert that overcoming the underlying challenge of revenue mobilization should translate in the prompt settlement of monies owed all agencies in the supply chain. Cabinet has approved a ...

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BoG reduces policy rate by 150 basis points

The Governor of the Bank of Ghana, Dr. Ernest Addison

The Bank of Ghana has reduced its policy rate to 21 percent. The figure represents a 150 basis points reduction from the 22.5 percent. This is the third consecutive time that the policy rate has been reduced by the central bank. Governor of the Bank of Ghana, Dr. Ernest Addison who announced the new rate at a media briefing on ...

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Premium Bank launches GH₵5m credit facility for startups

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SME-focused commercial bank, Premium Bank, has announced a GH₵5 million integrated credit facility for members of the Ghana Startup Club 100 through its HelpStation initiative. The announcement which was made by the Managing Director, Mr. Kwasi Tumi, during a special business forum and networking cocktail held in honour of the 100 most outstanding startups in Ghana, who were announced as ...

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GRA clears Agambire, re-opens his office

Roland Agambire, Chairman, Agams Holdings

The Ghana Revenue Authority (GRA) has removed the wanted tag on Roland Agambire and has also re-opened his locked office for business. The office of ACI Construction Company Limited, a subsidiary of Agams Holdings, was re-opened for business last Thursday by the tax authority following the resolution of inconclusive tax issues with the company. The National Coordinator for the Task Force ...

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GCNET to pilot paperless regime in August

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The Ghana Community Network Services Limited (GCNet) has told Citi Business News it will from next month [August], pilot its systems aimed at achieving a paperless transaction at the ports. The General Manager, of GCNET Alwin Hoegerle, explains that the exercise should help adjust the system for a smooth take off in September 2017. “Probably very early in August we will be ...

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10 companies honored at 2017 Trade Facilitation Awards

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Ten companies have been awarded for their role in trade facilitation for the year under review. They were rewarded at the 2nd edition of the National Trade Facilitation Awards held at the Labadi Beach Hotel over the weekend.   The Food and Drugs Authority (FDA) was awarded as best Ministry Department and Agency. Also, Buvensa Company Limited emerged as the best ...

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Ghana’s debt stock reaches GHS137 bn

Finance Minister, Ken Ofori-Atta

New figures from the Bank of Ghana(BoG) has shown that the country’s total public debt hit GHS137.2 billion in May. By this, the debt-to-GDP ratio is now  at 67.5%. This was contained in the economic and financial data released by the Central Bank at the end of its Monetary Policy Committee meeting. According to the report,  the debt stock increased ...

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Banks’ interests on car loans drop to 31.1 % in June

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The latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana shows that Unibank offers the highest rate on vehicle loans. Its rate on your car loan is 39.8 percent. The report, however, stated that Bank of Baroda’s rate between 22 and 28 percent is least among banks that offer vehicle loan. The average interest ...

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