News

The Textile industry in Ghana has over the years represented Ghana culturally and is currently responsible for 3% of the country’s Gross Domestic Product. Tex Styles Ghana also known as GTP, in a press release issued on Thursday, April 14th,...
  • April 16, 2022
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The UK banking group Standard Chartered is planning to exit Angola, Cameroon, Gambia, Sierra Leone and Zimbabwe. It will also leave its consumer, private and small business banking operations in Tanzania and Côte d’Ivoire, focusing instead on corporate, commercial and...
  • April 16, 2022
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Bayport Savings and Loans has awarded full educational scholarships to 20 brilliant but needy students selected from across the country as part of its corporate social responsibility. The beneficiaries comprising 11 males and nine females in primary, junior and senior...
  • April 16, 2022
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The Bank of Ghana recorded a profit of ¢1.23 billion in 2021, lower than ¢1.57 billion was recorded in 2020, its 2021 Audited Financial Statement has revealed. Out of the income, ¢981.4 million has been set aside to purchase gold...
  • April 15, 2022
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Despite the challenges, Ghana’s economy is expected to expand by 6.2% in 2022 and subsequently grow by 6.8% in 2023, Standard Bank, the parent company of Stanbic Bank has revealed. This is in consistent with the forecast by International Monetary...
  • April 14, 2022
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Banks wrote off ¢349.36 million as bad debt in the February 2022, the Domestic Money Banks Income Statement has revealed. This is lower than the ¢364.46 million recorded in February 2021. The total provisioning comprising loan losses, depreciation, among others...
  • April 12, 2022
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The Bank of Ghana (BoG) says no real estate company in the country has been authorised to price or transact business in foreign currencies. Head of Financial Stability for BoG noted that although some hoteliers have been granted the permission...
  • April 9, 2022
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A typical maxim about a liberalized business environment is that, “It is not the business of government to do business but to create an enabling business for private enterprise to thrive.” In the 1980s, Ghana’s adoption of the World Bank’s...
  • April 8, 2022
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State-Owned Enterprises (SOEs) recorded a GH¢2.61 billion loss in 2020, the 2020 State Ownership Report has found. The loss represents a 49.2 percent improvement on the 2019 aggregate net loss of GH¢5.16 billion recorded by the 47 SOEs. The report...
  • April 6, 2022
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The Ministry of Finance (MoF) has announced that State Owned Enterprises (SOEs) recorded an aggregate loss of GH¢ 2.61 billion in 2020, even though that represents a nearly 50 percent (49.2 percent) improvement on the 2019 aggregate net loss of...
  • April 4, 2022
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