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Recent depreciation of the cedi is temporary- BoG Official 

The recent blip in the foreign exchange market that saw a slight depreciation of the cedi against the dollar is short-term and a reflection of a spill over from external developments, an official of the Bank of Ghana has said. Mr Steve Opata, the Director, Financial Markets Department, told a …

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IFC to invest $60m in Ghana and seven other African countries

International Finance Corporation (IFC) announced on Monday, a $60 million investment to support small and medium-sized business loans in Ghana and seven other African countries. A press release to the Ghana News Agency, on Wednesday said, the move is tended to facilitate growth and job creation in the region. The funding …

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Portuguese business delegation to invest in Ghana

The Portuguese Association of Metal and Electromechanical Industries has expressed interest to invest in the country’s manufacturing and infrastructural sector for mutual benefits. The Association has expertise in the metal and electrochemical sector and will be ready to strengthen institutional collaboration to explore investment opportunities. Ms Maria Luis Correia, the …

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President urges more women into business  

President Nana Addo Dankwa Akufo-Addo has urged more women into entrepreneurship and politics, saying, their greater inclusion in the nation’s affairs is the most important force for development. The vision of ‘Ghana beyond Aid’ would materialise quicker when the entrepreneurial spirit of women, who are active agents of change, was …

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Ghana bourse continues on losing spree

The mood for most of the sessions throughout the last week of May (28 to 31) remained lukewarm on the Ghana Stock Exchange (GSE), as investors exited overvalued stocks in exchange for long-term quality plays. On the balance, laggards had the numerical advantage, tilting the index towards pessimism for the …

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Ghana to raise more funds through assets leverage – Bawumia

The Vice President, Dr. Mahamudu Bawumia, has hinted at plans to leverage government’s assets to raise additional funds for development. In line with this, they are going to establish the Ghana Asset Management Corporation – a body to manage the state’s assets portfolio. He added that a legislation to back …

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MoneyGram partners ADB to innovate banking products

MoneyGram has partnered the Agricultural Development Bank (adb) to launch MoneyGram cash account in Ghana to give Ghanaians abroad the opportunity to send money directly to their individual accounts in Ghana. The product is aimed at deepening the financial inclusion agenda of Ghana for customers to access their funds at …

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MTN Ghana to raise GH¢3.5b in IPO

MTN Ghana as part of measures to fulfilling its 4G license requirement is transferring 35 per cent stake to Ghanaians through an initial public offering. The Company seeks to raise GH¢3.47 billion at 0.75 cedis per share in the sale of over four billion ordinary shares to the public. Mr …

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US is leading source of remittances into Ghana in 2017

The largest source of  remittances inflows into Ghana in 2017 was the United States of America (USA), according to the World Bank. In that year an amount of $2.2 billion was remitted into the country, and that is a 4.3 per cent increase from that of 2016, making Ghana the …

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Ghana stock continues on bearish trend

The Ghana Stock Exchange (GSE) bourse continued on its bearish trend as investors continued to sell-off equities on the GSE largely on account of profit taking. The benchmark GSE-Composite Index thus dipped by 2.6 per cent on a week-on-week basis to close at 3,295.6 points, the fourth week of May …

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