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April 5, 2018 5:35 AM Deposits still major source of funds for banks – BoG report

Customer deposits still remain a major source of revenue for commercial banks. As a result, commercial banks also bear greater responsibility to their customers in earning interests on such deposits. The latest banking sector report by the Bank of Ghana shows that deposits accounted for 62.5 percent of the banking industry’s assets as at December 2017. According 227

April 3, 2018 3:33 PM Reduce TV hours, study hard – DCE

The Upper West Akim District Chief Executive (DCE), Mr Eugene Sackey, has advised pupils to avoid spending long hours watching television and concentrate more on their studies. He said the government would continue to support education through various reforms in the district and the country as a whole. Mr Sackey, who was speaking at the 80th anniversary 195

March 20, 2018 6:28 AM MPs to get GHc75,000 each for education projects

Members of Parliament are expected to receive GHc75,000 each for the funding of education-related projects and monitoring of same in their constituencies. The amount was captured in the recently approved Ghana Education Trust Fund (GETFund) formula for 2018. In the formula, each MP was allocated GHc60,000 for the projects and GHc15,000 for their monitoring 24

March 19, 2018 7:00 AM Alibaba commits to Lazada with fresh $2bn investment

Alibaba is increasing its control of Lazada, its e-commerce marketplace in Southeast Asia it acquired control of in 2016, after it injected another $2 billion into the business and replaced its CEO with a long-standing Alibaba executive. Alibaba’s first investment came in April 2016 when it bought 51 percent of Lazada for $1 billion, and it added another 23

March 15, 2018 6:54 PM Govt signs $39m deal to finance planting for food and jobs

Government has signed a 39 million dollar loan agreement with the African Development Fund (ADF) to support government’s planting for food and jobs program. The facility is to finance the Savannah Zone Agricultural Productivity Improvement Project (SAPIP). A statement from the Finance Ministry and copied to Citi Business News said the project will be implemented 14

March 14, 2018 3:14 PM Inflation increases to 10.6% in February

This represents a 0.3 percent rise in the inflation rate compared to the January 2018 inflation of 10.3 percent. Inflation measures the average change over time in the general prices of goods and services purchased by consumers within a particular period of time. The Acting Government Statistician, Baah Wadieh attributed the increase to the marginal 20

March 13, 2018 3:16 PM Use visa-on-arrival policy to attract African investors – Mahama

Former President John Dramani Mahama has advised African leaders to offer their fellow African nationals special protocol services in the form of visas-on-arrival in a bid to open up the continent for investments. According to him, this will remove the hustle African investors go through trying to access visas when they want to visit other parts of the continent 22

March 12, 2018 3:26 PM ‘Nana Addo more visionary than recent Ghanaian leaders’ – US Ambassador

US Ambassador to Ghana, Robert Jackson, believes the execution of President’s Nana Akufo-Addo vision is more likely to propel Ghana’s growth at a faster rate as compared to the plans of past presidents. In the Ambassador’s view, President Akufo-Addo is “more visionary than some recent Ghanaian leaders.” In the interview, he noted that despite being a long-term 21

March 7, 2018 11:57 AM Unibank moves to control majority interest in adb

Unibank has confirmed to Citi News that it has gone into a transaction with four major shareholders of Agricultural Development Bank (adb) that has effectively given majority control of the state bank. It says the move follows the pledging of shares and voting rights of the consortium of shareholders in adb Bank. But speaking on the Citi Breakfast Show on Wednesday 24

March 6, 2018 8:25 AM Child marriages declining – UN

There has been a significant drop in the number of child marriages worldwide, the United Nations children’s agency says. Unicef estimates that 25 million child marriages have been prevented in the past decade. One in five girls are now married before they are 18, compared with one in four a decade ago. South Asian countries have seen the biggest reduction 19