Banking & Finance
Over US$700m FX injection to stabilise cedi during festivities
The Bank of Ghana’s (BoG) decision to implement a 15 percent unified Cash Reserve Ratio (CRR) on both local and foreign currency bank deposits is anticipated to inject over US$700million into the foreign exchange (FX) market. Despite existing pressure on the cedi, upcoming inflows from the International Monetary Fund and cocoa loan syndication offer promise – thus enhancing market […]
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Headlines
Tourism sector to see overhaul; gov’t signs MoU with GUMA Group
The Minister of Tourism, Arts and Culture, Dr. Ibrahim Mohammed Awal, has emphasised government’s dedication to ensuring that the country becomes the leading tourism destination in West Africa. According to him, the ministry’s target is to achieve two million arrivals by 2026; pledging a complete overhaul of the country’s tourism sector and creating 150,000 jobs […]
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Business
SEC takes steps toward digital assets regulation
The Securities and Exchange Commission (SEC) has begun efforts toward regulating digital/crypto assets, in order to minimise potential harm to investors. This was made known by the SEC Director-General, Daniel Ogbamey-Tetteh, at the 2023 Ghana Capital Market Conference commemorating the regulator’s 25th anniversary. “We are in the era of digital assets – and taking a […]
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Economy
IFS flags spike in domestic capital investment
warns against pre-election fiscal populism The Institute for Fiscal Studies (IFS) has raised concerns over government’s budget plans for 2024 – an election year. With a nearly 100 percent year-on-year increase in domestically financed capital expenditure, the Institute warned that pre-election fiscal populism could further impact the economy negatively. “If the move is politically motivated, […]
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Agribusiness
Mining, agriculture complementary – Gold Fields
as its rehabilitation efforts bear fruit US$6.8 mn invested, over 900ha successfully reclaimed Mining, if responsibly done is not antithetical to agriculture but rather complementary, and the efforts of Gold Fields (Ghana) Limited are verifiable proof of this, a senior environmental officer at the mining behemoth, Desmond Asare, has said. Ghana’s status as the leading […]
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Banking & Finance
Juaben Rural Bank holds 37th AGM
records impressive growth in all financial indicators The Juaben Rural Bank PLC in the Ejisu-Juaben municipality of Ashanti Region has recorded remarkable growth in all operational indicators for the 2022 year under review. The bank recorded a profit before tax of approximately GH¢5.1million in the 2022 reviewed year as against a little over GH¢ 3.7million […]
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