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Ghana, Ivory Coast Must Reap Higher Cocoa Benefits – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has disclosed that Ghana and Côte d’Ivoire have agreed to coordinate their respective policies in the Cocoa sector to ensure that the two countries who are responsible for the production of 65% of the world’s cocoa, reap higher benefits from the sector than what both currently enjoy. Addressing attendees at an official state dinner in ...

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WorldRemit, Miss Ghana UK tip art as Ghana’s future

Leading digital money transfer service WorldRemit and the Miss Ghana UK Foundation are banking their hopes on art as the future of Ghana by picking an art proposal as the winning project for the #MyFutureGH contest. The winner, Edna Azumah Aninga, proposed to use art to curb societal problems. Her proposal was selected as the best among the over 120 ...

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Ghana could save over GH¢1 billion through digital payments by 2020 – Report

UN-based Better Than Cash Alliance has released a report documenting the Ghana’s progress in creating an economy where everyone can pay and get paid digitally, instead of cash. The results show the country has made significant gains, including almost 100 percent of government payments to people and payments within the government now processed digitally. The findings were made known at ...

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$50m dairy, beef factory to be established in Sekyere East District

The Sekyere East District Assembly, in the Ashanti Region, has secured a partnership agreement with N-D Eco Limited, a private entity, to set up a $50 million multipurpose factory for the production of dairy, beef, leather and other related products, under the government’s flagship ‘One district, one factory’ initiative. Work is expected to soon commence on the project, after the ...

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Tema port: Customs seize under-declared container from China

A 40-footer container which was under-declared by an importer has been intercepted by Customs officials at the Nick scan at the Tema Port. The container, which was imported from China, is said to have been mis-described, resulting in the near loss of revenue running into thousands of cedis. According to the Assistant Commissioner of Customs at the Tema Port, Felix ...

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Petroleum prices projected to increase by 14%

The energy sector is likely to witness its first major shock in decades with prices of petroleum products projected to increase by 14 percent before the end of this week, Obuouba Business has gathered. Sources say the geometric increase has been necessitated by the continuous hike in crude oil prices on the international market due to the current tropical storms in ...

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NHIA funding gap to rise to GHC 458.25m by 2019

The National Health Insurance Authority(NHIA) funding gap is projected to rise to GHC458.25m within the next years of 2019, the National Health Insurance Fund Allocation Formula(NHIF) 2017 report has revealed. “Additional funding to the tune of GHC379m is required from government to fully settle expected claims indebtedness for the year 2017. The above projection assumes that the additional funding for ...

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We can’t regulate interest rates on investment – Micro finance companies

Despite calls for micro finance companies to quote realistic returns on investments, some micro finance companies still promise investors unreasonable returns. The phenomenon has led to debacles in the industry as some companies promise over 30 percent returns per month on investments. Speaking to Citi Business News, the Executive Secretary of the Association of Micro Finance Companies (AMFC), Mr. Joseph ...

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Dumsor: GH¢250m, 5,000 Jobs Lost Between 2012 -2015 – ISSER

Some 885 manufacturing firms inGhana losta total of GH¢250million between 2012 and 2015 due to the non-availability of power, a study conducted by the Institute of Statistical, Social and Economic Research (ISSER) has revealed. The loss was on account of huge drops in productivity levels of the firms duringthe protracted power crisis that hit the country about five years ago. ...

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High fiscal deficit unattractive for long term bonds – Razia Khan

Government would have to work to reduce its fiscal deficit in the short to medium term else risk investment ditching its long term bonds. This is the caution from the Chief Economist for Africa Global Research at Standard Chartered Bank, Razia Khan. According to her, the government would need to readjust its debt management strategy at the point where it ...

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