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Access Bank launches *901# shortcode for easy banking

Deepening its drive for financial inclusion through digital innovation, Access Bank Ghana has introduced the Unstructured Supplementary Service Data (USSD) mobile banking service *901# to its customers and the general public. The *901# channel is modeled with banking features that enables customers to operate a mini branch on their handheld devices, thus making banking more convenient, easy and accessible. By ...

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$7m Elmina Fish Processing Plant opens

Government has inaugurated the Elmina Processing Plant in Elmina in the Central region. The US$7.48m project, according to the minister of Fisheries and Aquaculture Development, Elizabeth Afoley Quaye, is intended to bring lasting relieve to the fishing communities in the area. She indicated that government is indeed committed to improving the fishing business so that the fisher folks can have ...

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Finance Ministry gives ‘ghost’ workers’ new deadline

The Ministry of Finance has extended the deadline for the payment of April salaries of some public sector workers who failed to enroll onto the SSNIT biometric system. The workers have up till the 15th of June 2017 to re-register to get their salaries paid. A statement from the Finance Ministry and copied to Obuoba Business News indicated that about ...

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GRA must get tough on tax collection—Ofori-Atta tells new board

Finance Minister Ken Ofori-Atta has called for a “heavy-handed” approach to tax collection as government seeks to bolster domestic revenue mobilisation to be the anchor of its fiscal policy to facilitate economic and social prosperity. Inaugurating the newly-formed board of the Ghana Revenue Authority (GRA), he indicated: We need radical change in revenue administration with the urgent need to address ...

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Fitch lauds progress in the Ghanaian economy

Ratings agency Fitch has lauded government’s efforts in getting the economy back on track after a recent ‘crisis’ that forced the economy to seek solace in a US$918 million bailout from the International Monetary Fund (IMF). According to Fitch in a statement issued on Friday, “the country is making progress in stabilising its economy after its recent crisis period, with ...

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We’ve a laser focus on the economy – Bawumia

Government has begun the implementation of policies and programmes designed to make Ghana the most business-friendly country in Africa, the Vice President Dr. Mahamudu Bawumia, has reiterated. These include a keen focus on a number of priorities, including ensuring fiscal discipline, cutting the budget deficit, managing the national debt, and putting in place measures to fight corruption. Vice President Bawumia ...

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GCB Bank’s profits rise to GH¢299m

GCB Bank has posted a 22 percent rise in profit in 2016 compared to the profit recorded in 2015. The bank’s profit for the period increased from 244.7 million cedis to 299 million cedis between 2015 and 2016. The rise in GCB Bank’s profits for 2016 comes after recording a drop the previous year. In 2015, the bank’s profits declined ...

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HFC bank appoints Charles Zwennes as new Board Chair

HFC Bank Ghana, a subsidiary of Republic Financial Holdings Limited, has appointed Mr. Charles William Zwennes as the new Chairman of the bank’s Board. This follows the resignation of Professor Joshua Alabi from the position. “By virtue of Prof. Alabi’s resignation, The Board of Directors of the Bank, at a Board Meeting on 26th April 2017, in accordance with Bank’s ...

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15 year energy bond timely for banks’ rising NPLs – CAL Bank MD

Banks are optimistic of significant improvement in their non-performing loan portfolios as government initiates moves to clear all outstanding debts owed them. The assurance comes on the back of government’s plan to raise bonds to clear the debts owed in the energy sector. The Vice President, Dr. Bawumia at a meeting in Washington last week announced that the government will ...

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StanChart rolls out instant pay to customers

Customers of Standard Chartered Bank Ghana can now enjoy instant transfers to the bank accounts of other banks following the bank’s successful integration of the Ghana Interbank Payment and Settlement System’s (GhIPSS) Instant Pay. According to the bank, the integrated service is not only on its online platforms but users of the Standard Chartered Mobile App can also access it. ...

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