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Confirmed! Petroleum prices go up by 9%

It is confirmed, prices of some petroleum prices have been increased by 9 percent. The new prices have already taken effect at the pumps. Deputy Transport Minister, Joyce Bawa Mogtari, confirmed the price increases in an interview with Joy News shortly after the new prices took effect. She said “the increment …

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A gallon of petrol in Germany is two times the price in Ghana

The chief executive of the National Petroleum Authority (NPA), Mr. Moses Asaga has mounted a robust defence of the Authority’s decision to increase fuel prices by nine percent. He said the increases were to prevent another problematic build-up of subsidies which may affect the ability of bulk oil distribution companies …

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NPA explains rationale behind fuel hike

The cedis’ depreciation, rising prices of finished products and crude oil caused the National Petroleum Authority to increase fuel prices. The value of every litre of Petrol, Kerosene, Diesel and a kilogram of LPG on Sunday May 17 went up by 9 percent. This means that a gallon of Petrol …

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CCML launches ‘Hello Banking Initiative’

The Christian Community Microfinance Limited (CCML) has launched its ‘Hello Banking Initiative’ and its centre at Haatso in Accra, in its effort to improve customer experience and stay closer to the customers. This will serve the company’s growing customers in all 36 branches across the country and beyond. The centre …

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Ghana needs holistic agric strategy – Edward Effah

Edward Effah, Managing Director and Chief Executive Officer (CEO) of Fidelity Bank, has called for a comprehensive agricultural master plan to improve agribusiness in the country. According to him, the lack of an agricultural master plan had hampered the continuous growth of the sector. Mr. Effah, who made this known …

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Ghana to leave interest rates on hold on Wednesday

The Bank of Ghana will wait until economic reforms kick in towards the end of the year before cutting interest rates to resuscitate growth in the West African nation, a Reuters poll found on Monday. That will still make Ghana one of the few countries forecast to ease policy this …

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Banks can’t reduce interest rates – Ecobank CEO insists

Group Chief Executive of Ecobank, Albert Essien is insisting that banks cannot be blamed for the high interest rates. Minister of Trade and Industry Ekwow Spio-Garbrah has over the past months been embarking on a campaign to force banks to drive down their high lending rates. He has even called …

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GHANAIANS MUST PREPARE FOR TOUGH TIMES – RAZIA KHAN. 

Ghanaian must brace itself for some tough times ahead if it is to meet the various benchmarks and performance targets set by the International Monetary Fund (IMF), Ms Razia Khan, the Chief Economist of Standard Chartered Bank (Stanchart), Africa, has said. According to her, the IMF wants the country to strictly …

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TELCOS COMPANIES IN GHANA TO LAY OFF WORKERS. 

Telecommunication companies in the country may soon be compelled to lay off workers if the current power crises persist. This, according to the Ghana Chamber of Telecommunications, was due to the increasing cost of doing business. Government is expected to receive the first power barge which will reduce the impact …

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Economist warns Ghana against rushing to adopt Islamic Banking

Economist and the Head of the Finance Department at the University of Ghana Business School, Dr. Godfred Bokpin has advised the Bank of Ghana not to rush in okaying Islamic Banking in Ghana. He adds that authorities must engage in broad based discussions with relevant stakeholders to see the feasibility …

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