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The country will pay 37 percent less than the current cost after the renegotiation of the Karpower deal from 10 to 20 years, Nana Oppong-Damoah, a Communications Specialist at the Ministry of Energy has said.Mr Oppong-Damoah explained that the deal was not cost-effective hence a renegotiation for cheaper rates...
The Monetary Policy Committee of Bank of Ghana has reduced the policy rate by 200 basis point, the bank announced on Monday. This means the rate at which the central bank lends to commercial banks has dropped to 18% from 20%. The bank cited subdued core inflation between January and now,...
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says his government is keen on building the business-friendly economy on the continent, and has assured potential private sector investors of the security of their investments. Speaking at the 6th Africa CEO Forum, held in Abidjan, Cote d’Ivoire, on Monday,...
Vice President of the Republic of Ghana, Dr. Mahamudu Bawumia, has asserted that some people are still puzzled by the economic gains chalked by the NPP government. According to him, some Ghanaians are still at sea as to...
The Bank of Ghana (BOG) says about 705,396 depositors of distressed or collapsed microfinance institutions (MFIs) and Rural and Community banks (RCBs) are at risk of losing more than 740 million cedis.The amount represents deposits currently locked up in the 272 RCBs and MFIs which were either in distress...
The Ghana Revenue Authority (GRA) has been directed to “immediately” halt the collection of Import VAT on some 64 commodities and also indefinitely suspend the Fumigation Levy for shippers. The GRA began a monitoring exercise on the compliance of the tax stamp policy on March 1, 2018. The introduction of the...
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says Ghana is fully committed to the success of the Continental Free Trade Area (CFTA), after its formal launch in Kigali, Rwanda, at an Extraordinary Session of the Assembly of Heads of State and Government of the African Union, on...
The Ghana Union of Traders Associations (GUTA) has issued a stern warning to government, saying the proposed 17.5 percent Value Added Tax (VAT) on mobile phones should not be introduced. It also warns that the new formula by Customs for calculating duties on imported cables must be reversed. The warning comes...
Dr Kwabena Duffour II, Chief Executive Officer of Unibank heads a list of nine high-profile directors of the bank who have lost their jobs following the take-over by the Bank of Ghana. The Bank of Ghana Governor, Dr Ernest Addison at a press briefing on Tuesday, March 20 said the...
The Bank of Ghana has announced it has taken over the management of the private bank, Unibank. The Governor of the central bank explained at a press conference, the takeover is due to challenges facing the bank. He mentioned weak supervisory standards and weak operations as the cause of the...
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