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Unibank moves to add over GHS700m to its capital

One of Ghana’s most stable indigenous banks, Unibank, is to obtain a colossal amount of over GHS700 million. The amount, which will significantly shore up the bank’s capital when the Central Bank approves the recapitalisation programme it is embarking on, will peg the bank’s assets at almost a billion cedis. …

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Bui CEO urges caution over VRA, Bui merger

The CEO of the Bui Power Authority, Fred Oware is impressing on government to consider available options in its quest to merge the Volta River Authority (VRA) and the Bui Power Authority (BPA). In his view, the decision could impact Ghana’s power generation efforts if not properly reconsidered. Government is …

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1500 workers of Goldfields Ghana to be laid off

Mining firm Goldfields Ghana is to lay off about 1,500 of its workers. The retrenchment is expected to affect majority of its miners at the Tarkwa mine. Citi Business News has gathered the layoffs will take effect this month December, 2017. Goldfields has told Citi Business News it had to …

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Ghana Loses $180m To Trade Misinvoicing

A 2017 report by Global Financial Integrity has revealed that Ghana loses over $180 million due to Illicit Financial Flows(IFFs) specifically trade misinvoicing. Trade misinvoicing is a method for moving money illicitly across borders by deliberately misreporting the value of a commercial transaction on an invoice submitted to customs. According …

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Ghana gets first solar-powered Tier-4 data centre

Etix Everywhere, in partnership with Ngoya and the Africa Investment Group (AIG), has announced the start of constructing a Tier-4 data centre in the country. The multi-tenant data centre (MTDC) will be carrier- and vendor-neutral, and will be powered by a solar plant – ensuring clean power independent of the …

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Ghana,UAE trade volume hits $2.4bn

The volume of trade between Ghana and the United Arab Emirates (UAE) crossed $2.4 billion at the end of 2016. In the same period under review, UAE investments in Ghana reached nearly $2.4 billion from 60 UAE companies. This included two direct flights to and from the two countries via …

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Renewable Energy policy must favour private investors -KITE

Energy research firm, KITE has cautioned that the current energy regime is not favorable for the private sector to go into renewable energy. According to KITE, although it will be a good initiative to get the private sector on board, it will need the right policies and assistance from government …

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Solving housing gap: Lands Commission tackles complex registration

The Lands Commission is set to reduce the incidences of landguards’ attacks in the acquisition of land with its new land documentation system. The Ghana Enterprise Lands Information System (GELIS) aims at fast tracking the acquisition of land titles by using electronic platforms. The move is also geared at reducing …

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