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Jamaican company to save Ghana $130m in School Feeding Programme

A small Jamaican company has won a US government sponsored contract in Ghana to streamline the country’s problem plagued school feeding programme which is costing the country $250 million every year. The company, Student Card Limited (SCL) is reputed for providing technology-based solutions for some financial administration problems that plague …

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Ghanaian businesses not likely to benefit from policy rate cut – Analyst

The Bank of Ghana cut its benchmark lending rate by 200 basis points from 18% to 16% Friday February 19, 2010. It is the second time in three years that the central bank has done so. But the country’s expectant business sector won’t benefit from the cut anytime soon, an …

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Bank of Ghana cuts policy rate to 16%

As widely expected the Bank of Ghana has cut its policy rate by 200 basis points from 18% to 16%.  The Governor of the central bank, Mr. Kwesi Amissah-Arthur announced the new rate at a press conference at the bank Friday February 19, 2010.  He said the Monetary Policy Committee …

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Bank of Ghana to cut interest rate today

The Bank of Ghana Monetary Policy Committee (MPC) started its quarterly meeting Monday to review the performance of the Ghanaian economy. Today Friday February 19, 2010 the MPC will meet the press at a press conference and issue a statement. And for the first time, it is certain that the …

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AngloGold Ashanti earns $228m on higher gold price

AngloGold Ashanti says it would increase its final dividend after fourth quarter adjusted headline earnings rose to a record $228 million on higher gold price and increased production from the company’s mines in Africa and South America. A press statement issued by AngloGold Ashanti Wednesday February 17, 2010 announcing the …

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Ghana wants Globacom to start operations on country’s Independence Day

The Minister of Communications says the government of Ghana is working hard to enable Globacom to launch its operations in the country on March 6, 2010, the country’s Independence Day. “Let me assure Globacom that government is doing everything within its reach to allow for your major launch to coincide …

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Kosmos awards seismic reservoir contract to OHM

Texas-based oil and gas company, Kosmos Energy and stakeholder in Ghana’s oil industry has awarded a seismic reservoir characterization study contract to OHM Rock Solid Images. The Rigzone reports that the study will cover the Odum field, offshore Ghana on the West Cape three Points Block. A 3D seismic data …

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Olam to invest $31.5m in Ghana wheat mill

Global agricultural products supply chain management and food products company, Olam says it will invest $31.5 million to establish a wheat mill in Ghana. A report by Channel NewsAsia says the wheat mill will be situated in Ghana’s main port city of Tema. Olam, which is headquartered in Singapore, expects …

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Private sector investment essential to bolster Africa's infrastructure – Laing

The importance of private sector investment in expanding Africa’s infrastructure has been emphasized. Speaking at the Africa Investment Forum in Accra, Ghana the CEO of CDC Group Plc, Richard Laing said Africa’s infrastructure needs in critical need of investment. He said private sector involvement is key to strengthening the continent’s …

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Ghana inflation drops to 14.8% in January 2010

Ghana’s inflation continues to drop as predicted in December last year when the inflation dropped for the sixth consecutive time, making the latest drop from 16% in December 2009 to 14.8% in January the seventh consecutive time. The business community in Ghana especially has been clamouring for a drop in …

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