Blog Medium Without Sidebar

By Richard Adorsu-  NEW AFRICA DAILY NEWS, Accra, Ghana- The Bank of Ghana says it will soon begin the purchase of gold from small scale mining firms as part of the bank’s plans to shore up part of its reserves which is held in gold. Governor of the central bank, Dr. Ernest Addison, speaking at the MPC press briefing last Friday stated that the bank will be doing the purchase via selected local gold buying agencies. He explained that the decision to purchase gold is borne out of the fact that Ghana is one of the lead producers of gold in the world, and the Bank is seeking to take advantage by shoring up its reserves using gold produced locally. “We decided that as a central bank in a country that produces gold, may be we needed to strengthen our holdings of gold. So, that policy...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- NIGERIA, Emeka Emuwa – Managing Director and Chief Executive Officer of Union Bank Plc, has pronounced that, gender equality and women empowerment are of the essence to the bank. During the launching of Alpher,  the bank’s women banking proposition targeted at enhancing women for success, Emuwa stated, with our track record of supporting women, Alpher is a natural next step for us. “Through Alpher, our focus is to empower women across all segments of the Nigerian society with tailored financial services, and other benefits that improve the quality of their lives. At the launch, the Head of Retail Bank and Digital – Lola Cardoso re-emphasized the needful for women to demonstrate their best at achieving...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- Members of the board directors of the African Development Bank (AfDB) has dispensed the sum of US $22 million as loan to stout Small Medium Enterprises across (SMEs) agribusiness and food industries, tourism, Information Communication Technology (ICT), clean energy, health, transport and manufacturing sectors. The loan, which was disbursed to aid Egypt’s Corporate Leasing Company to unfold its operations in Egypt, would assist to reinforce the economy at a certain height that is expected. Country Manager in Egypt, African Development Bank – Malinne Blomberg described that, the intervention was in line with the bank’s strategic priorities, specifically “Feed Africa”, “Industrialize Africa” and “Improve the...

By Richard Adorsu- NEW AFRICA DAILY NEWS, Accra, Ghana- The Ministry of Finance says it is working to ensure that levies and charges placed on imports into Ghana are at par with others within the West African sub-region. The Deputy Minister of Finance, Kwaku Kwarteng, explained that though Ghana is a signatory to several trade treaties, the government will be measured in setting rates and charges which will affect businesses. He made the remarks on the sidelines of the commemoration of the World Customs Day in Ghana, on January 31, 2020. “The immediate concern is how we get that negotiation right because we ought to be responsible members of the international community but at the same time; we are sensitive to our domestic imperatives. For example, for the Common External...