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Author Archives: Pius Amihere Blay

Only ten percent of Unibank’s debts were recoverable – KPMG report


It has emerged that over ninety percent [90%] of defunct Unibank’s loan books was non-performing as at March 2018. According to the Official Administrator’s report, Unibank had 3.4 of the 3.73 billion cedis, non performing; a development which affected the performance of the bank. The Official Administrators, KPMG were made to assume the management of the defunct Unibank following the ...

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IES raises concern as PURC, ECG delay major policy decision making


The Institute of Energy Security, IES, is warning that the technical and operational challenges within the ECG may escalate if the process for the handing over to the Power Distribution Services (PDS) is delayed any further. The IES also wants the PURC to be swift in announcing the new tariffs as the delay is impacting planning for businesses and the ...

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Dubai to contribute US$269 billion to UAE through 5G technology


Dubai to contribute US$269 billion to UAE through 5G technology. Dubai’s aim of rolling out 5G network is to give the region revenue to the tune of 269 billion dollars.I According to tech giant Huawei, the money will rake in over the next ten years. The revenue will also benefit the entire Middle East’s ICT industry. The 5G works at speeds ...

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GRA resorts to prosecution as Tax Amnesty slows revenue


It has emerged that the Ghana Revenue Authority (GRA) was unsuccessful with its Tax Amnesty policy that it introduced to get taxpayers clear all outstanding arrears. The policy, introduced in 2018 became apparent after the Authority failed to meet its target for the previous year. But the GRA maintains it will prosecute all persons who are found within this web ...

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We’re not mandated to list on stock market –Vodafone


Vodafone Ghana says it is not mandated to list on the Ghana Stock Exchange following the acquisition of the 4G license. The company in a statement stressed that the bid documents for the license nor the license condition do not make reference to listing on the bourse hence its decision. The comments is in response to remarks by the management ...

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Pharmacy Chamber seeks incentives for pharma-park


The Chamber of Pharmacy Ghana has made an appeal for the government to provide incentives for its new pharma-park. Among the requests are; one hundred percent income tax free status, duty free imports for building materials, amongst others. The aim of this project is to reduce imports of medicines substantially within the short to medium term. According to the Chamber, ...

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Enterprise Group announces new appointments


Enterprise Group Limited is pleased to announce the reorganization of its business structures resulting in a number of new appointments, with effect from 2nd January, 2019. The new appointments are as follows: Kwame Ofori, who held the office of Executive Director of the General Business subsidiary, Enterprise Insurance from 2010 to 2018, will become Executive Director of a new Specialist Risk Business ...

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Six fund managers exit investment market


The Securities and Exchange Commission (SEC) has cautioned the public against doing business with some six fund management companies who have voluntarily ceased their operations. The companies cited various reasons for the decision. As a result, the regulator says they are not supposed to engage the public in that capacity henceforth. The fund management companies include; HFC Capital Partners Limited, ...

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Goldfields improves productivity with contract mining – Chamber of Mines


The Ghana Chamber of Mines has disclosed to Citi Business News that the change in operations by Goldfields has led to increased productivity at the company’s Tarkwa mine. Goldfields, in 2018 announced a major shift in its mining operations from owner to contract mining sparkling a lot of controversy from labour unions over job losses. But the Chamber of mines ...

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