BUSINESS

Gov’t Maintains Cocoa Producer Price

The Government has announced that it will maintain the producer price of cocoa for the 2017/2018 crop season despite the sharp decline in the price of cocoa on the world market. The price of a tonne of cocoa on the world market has witnessed a dramatic decline from about $3,000 to about $1,900, a 10-year low. Food and Agriculture Minister, ...

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Ghana Home Loans Courts Estate Developers

Richmond Asante, Head of Mortgage Origination at Ghana Home Loans, says his outfit is ready to partner real estate developers to help address the housing deficit and also support more people to obtain their dream homes. Speaking at the second Developers and Estate Agents Seminar for 2017 recently in Accra, Mr Asante said the housing delivery system in Ghana was ...

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Tigo and Airtel complete Ghana transaction

Millicom International Cellular S.A. (“Millicom”), the parent company of mobile operator Tigo Ghana Limited, announced today it has completed the transaction announced on March 3, 2017, with Bharti Airtel Limited (“Airtel”), the parent company of Airtel Ghana, to combine their operations in Ghana. The successful closing will see both companies hold equal ownership and governance rights in the combined entity. ...

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FDA Destroys 4,500 Cartons Of Asahi Mackerel

The Food and Drugs Authority has destroyed 4,500 cartons of rotten mackerel impounded at Mile 7 here in Accra. The rotten Asahi Mackerel was imported into the country by Dotsisco Ventures and were in transit to neighbouring Togo. They were however diverted onto the Ghanaian market and were impounded following a tip-off by some residents. Head of Communications for the ...

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Broadband Chamber calls for regulatory uniformity, fairness

The Broadband Communications Chamber (BBCC), an advocacy group for the development and expansion of the broadband industry has called on the National Communications Authority (NCA) to ensure for regulatory uniformity and fairness in the broadband space. “Currently, there remains a great deal of uncertainty in the Ghanaian broadband industry…If this uncertainty persists, the Ghanaian broadband industry shall not be seen ...

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Foreigners drive out Ghanaians from pharmaceutical industry

Indigenous pharmaceutical companies are on the verge of extinction as global pharmaceutical companies terminate distribution contracts and hand the contracts to companies said to be foreign distributors operating in Ghana. Data compiled indicates that the market has grown to $522m in 2014 at a growth rate of 54% in cedi terms and 10% in US dollar terms. Information gathered by ...

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Foreigners drive out Ghanaians from pharmaceutical industry

Indigenous pharmaceutical companies are on the verge of extinction as global pharmaceutical companies terminate distribution contracts and hand the contracts to companies said to be foreign distributors operating in Ghana. Data compiled indicates that the market has grown to $522m in 2014 at a growth rate of 54% in cedi terms and 10% in US dollar terms. Information gathered by ...

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Standard & Poor’s revises Ghana’s credit ratings to positive

Rating agency Standard & Poor’s has revised Ghana’s outlook from stable to positive while affirming its ‘B-‘ long-term and ‘B’ short-term foreign and local currency sovereign ratings on the country. The outlook on the long-term ratings was revised to positive from stable. In general, a credit rating is used by sovereign wealth funds, pension funds, and other investors to gauge ...

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GCB sacks over 700 UT/Capital Banks staff

Over 700 former workers of the now defunct UT and Capital banks are set to lose their jobs as the takeover bank GCB has begun issuing out termination letters. The affected staff have already received letters asking them to proceed home. Starr News understands GCB is only retaining clerical and top management staff of the collapsed banks. Sources have also ...

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Our Operations Not Hurting Korle Bu – UniBank

The Executive Director of uniBank Ghana Limited Clifford Mettle has dismissed as factually inaccurate claims by the management of Korle-Bu Teaching Hospital (KBTH) that the bank’s operations are hurting the facility. According to him, the operations of the bank at the KBTH were rather aimed at streamlining revenue collections there and also afford it the ability to have its billings ...

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