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ECOWAS adopts Eco as single currency for subregion

Beginning in January 2020, countries within the West African sub-region will be able to use a single currency called ECO. The currency was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja. The West African leaders endorsed the currency at their 55th Ordinary Session and approved a road map towards the currency’s ...

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Government to make changes to Vehicle Luxury Tax – Finance Minister

Source: GNA Government says it will make some changes to the Vehicle Luxury Tax in the mid-year budget review to be presented to Parliament in July. Finance Minister, Mr Ken Ofori-Atta, who announced this at a press briefing, said while the fundamental need for the law was unequivocal, some appropriate changes would be made to enhance its effectiveness. The luxury ...

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Avoid Ubers, taxis, public transport in Ghana – Australia warns

The government of Australia has asked its nationals not to use Ubers, taxis and other public transport in Ghana. This makes Australia the third country to update its foreign travel caution on Ghana in seven days. Canada and the United Kingdom updated their foreign travel advice on Ghana on June 6 and 7 respectively following the kidnapping of two Canadian ...

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GSA exposes fuel stations in fuel fraud

Source: adomonline.com The Executive Director of the Chamber of Petroleum Consumers of Ghana (COPEC), Duncan Amoah, has called for strict punishment to be meted out to fuel stations found to have adjusted their fuel pumps in a bid to cheat customers. Mr Amoah has asked for punishment that will be detrimental enough to the stations to deter others from committing ...

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Ghana’s debt stock nears GHC200bn

Source: classfmonline.com Ghana’s total public debt is now US$38.9 billion (GHC198 billion), GHC2 billion shy of GHC200 billion as of March 2019, the Bank of Ghana’s Summary of Economic and Financial Data – May 2019, has shown. It represents 57.5 per cent of Ghana’s GDP as of March 2019. In January this year, the total public debt was GHS176.6 billion ...

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Funds of 5 collapsed investment companies safe – SEC

Source: citibusinessnews.com The Securities and Exchange Commission (SEC) has assured customers of five collapsed fund management firms that their investments are safe. Last week, the S.E.C revoked the licenses of the companies for breaching rules guiding their operations. The companies include; Georgetown Capital Partners Limited, Equity Capital Limited, Index Analytics Limited, DM Capital limited and Oxygen Advisory limited. As a ...

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Ghana Business News !

BUSINESS NEWS | GHANA AND BEYOND 🌍 19/03/2019 🚩 The government of Ghana has agreed a $180 million deal with the Exim Bank of India to finance various development projects in the country. This was announced by Ghana’s Vice-President, Dr Mahamudu Bawumia, who stated on Monday, 18 March 2019 that the agreements will be signed between the two countries in ...

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More external threats ahead for the cedi – BoG report

A report by the Bank of Ghana that assesses the impact of external shocks on Ghana’s economy has revealed the cedi’s depreciation against the US$ is expected to continue throughout the year, as global events show more external threats ahead. The report, titled ‘The Effect of External Conditions on the Economy of Ghana’, is authored by Philip Abradu-Otoo and Bernard ...

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