Wednesday , July 24 2024

Business

BoG blames pressure on economy for cedi depreciation

The Bank of Ghana has attributed the depreciation of the local currency to the day-to-day pressures on the economy. Although the cedi appreciated against the dollar during the last two months of 2022, it is currently depreciating further against the dollar. The cedi which appreciated to 8 cedis to a …

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GH₵2.6m to JNS Talent was a refund – National Cathedral Secretariat

The National Cathedral Secretariat has refuted allegations by the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, who claimed that some GH₵2.6 million was paid to a company owned by a board member of the cathedral, Rev. Victor Kusi Boateng. JNS Talent Centre Ltd which allegedly runs a crèche …

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Deadline for signing up to Debt Exchange Programme expires today

Government’s deadline for bondholders to sign onto the domestic debt exchange programme expires today, Monday, January 16, 2023. In its quest to address the country’s ongoing economic challenges, the government launched the programme to invite holders of bonds to voluntarily exchange approximately GH¢137 billion domestic notes and bonds of the …

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1% E-levy implementation starts today

The implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% kicks off today, Wednesday, January 11. The Ghana Chamber of Telecommunications has announced its preparedness to implement the new rate. The service providers are Airtel Mobile Commerce (Ghana) Limited, GCB G-Money, Mobile Money Limited, Vodafone Mobile Financial Services …

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Databank to reopen offices today

Fund management company Databank will reopen its independent branches on January 10, 2022 – the first time since December 22, 2022, following a shutdown resulting from physical and verbal attacks on its staff by some of its clients. The staff of the fund management company have been working remotely and …

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BoG raises limit on MoMo transactions

As part of measures to facilitate more efficient payments and encourage a seamless transition to a cash-lite society, the Bank of Ghana has reviewed upwardly, the limits set on daily transactions and the maximum account balances on mobile money wallets The Bank of Ghana in a release stated that the …

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Databank customers threaten to burn down company

Some disgruntled clients of Databank have threatened to attack the company for failing to honour withdrawal requests. Chief Executive Officer of the firm, Kojo Addae-Mensah, who disclosed this to JoyNews on Thursday, said the situation is serious and could get out of hand. “It is a very serious matter. We …

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Cedi now ¢11.50 to $1

The Ghana cedi has ramped up in value against the dollar after appreciating by more than 20% in less than two weeks. Ghana’s currency enjoyed the longest appreciation period this year in the month of December 2022 as it recorded significant improvement in the forex market. This makes it the …

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Ghana behaves like rich sultanate in the gulf – Bloomberg

Although there has been a small rally in the bond market in recent weeks, distressed debt in emerging markets remains a serious weak spot in a global economy preparing for recession. Governments in developing countries need to refinance $215 billion of debt coming due in the next two years. But …

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We’re awaiting police report on intercepted marijuana – NACOC

The Upper West Regional Command of the Narcotics Control Commission (NACOC) says the police in the region have cooperated with its investigations following the intervention of the Attorney General. NACOC had accused the police of refusing to disclose the quantity of some compressed substances suspected to be marijuana. The substances …

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