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GEF 2018: Banks must innovate – Barclays MD

Managing Director of Barclays Bank Ghana, Abena Osei-Poku has encouraged the banking sector to innovate and aim to offer financial solutions that responds to the revolving nature of the economy. “Bankers and financial market players must innovate and offer financial solutions that respond to the cyclical nature of the economy” …

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MTN to list on Ghana’s stock market today

MTN is to list proceeds from its Initial Public Offering (IPO) on the Ghana Stock Exchange later today [September 5, 2018]. The company, in July, concluded its IPO which is to allow it cede thirty-five percent of its operations to the public. The IPO targeted 3.5 billion cedis, but it …

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IMF asks for time to decide on US$2bn Sinohydro deal

The International Monetary Fund (IMF) has said it needs time to take a decision on Ghana’s US$2 billion Sinohydro deal with China – as to whether it qualifies as part of government debt or not, following concerns raised by the Minority in Parliament over the deal. The IMF chief, in …

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Non-Performing Loans hit GH¢8.7bn

The stock of Non-Performing Loans in the banking sector reached GH¢8.74 billion in June this year, according to the latest banking sector report. The report released by the Bank of Ghana showed that since the last time the figures were released in April 2018, it has gone up by some GH¢11 million …

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MTN secures over GH₵1.14bn in historic IPO

Telecoms giant, MTN has secured over GH₵1.14 billion in a historic Initial Public Offering (IPO), according to persons with knowledge of the offer results. Background MTN in May formally launched its Initial Public Offering seeking to raise about GH₵3.47 billion. It was hoping to sell each share at GHp75 by issuing …

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Enterprise Singapore identifies new opportunities in Africa’s digital, manufacturing sectors

Enterprise Singapore, an agency that champions the Asia country’s enterprise development, says it has identified viable opportunities in Africa’s digital economy and manufacturing sector for Singaporean companies to tap into. “Africa’s rapid growth and thriving digital economy offers rich opportunities for Singapore companies seeking higher growth and market diversification. We …

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VW plant to be set up by last quarter of 2018 – Pius Hadzide

Pius Enam Hadzide, Deputy Minister of Information, has disclosed that German car manufacturer Volkswagen’s (VW) vehicle assembly plant would be set up in Ghana by the last quarter of 2018. According to him, government has already signed a memorandum of understanding (MoU) with Volkswagen South Africa. Speaking on Citi TV/Citi …

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Ghana considering floating rare $50bn Century Bond

Ghana may soon join the likes of Argentina, Austria and Mexico to issue the rare 100-year bonds to finance national projects. President Addo Dankwa Akufo-Addo announced this at a ceremony in Beijing to sign some eight Ghana-China co-operation agreements. “The Ministry of Finance and the economists in Ghana are looking …

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Ghana, China sign co-operation agreements for development

Ghana and China have signed eight Co-operation Agreements and Memoranda of Understanding, in different sectors of their respective economies, aimed at deepening the ties of co-operation and the bonds of friendship that exist between the two countries. The agreements were signed on Saturday, 1st September 2018, after the President of …

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