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Defunct Capital Bank founder Ato Essien released after detention

Defunct Capital Bank founder Ato Essien released after detention

The Economic and Organised Crimes Office (EOCO) has granted bail to Mr William Ato Essien, the founder of the collapsed bank, Capital Bank after detaining him overnight. EOCO invited Mr Essien on Tuesday, April 17 to assist with ongoing investigations

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Oil price hits three-year high of nearly $70 a barrel

Oil price hits three-year high of nearly $70 a barrel

Drivers have been warned they face misery at petrol pumps this year after the oil price rose to a three-year high of almost $70 (£52) a barrel. In November, Opec and other big oil producers including Russia agreed to extend

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Ghanaians lament high cost of rent in Accra

Ghanaians lament high cost of rent in Accra

Many Ghanaians are indeed upset about the high cost of rent in regional capitals of the country, particularly in Accra. The lack of a proper regulation is also a concern for many, considering that in some non-prime areas in Accra,

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Ethiopia overtakes Ghana as Africa’s fastest growing economy

Ethiopia overtakes Ghana as Africa’s fastest growing economy

Ethiopia has overtaken Ghana as Africa’s fastest growing economy, the International Monetary Fund (IMF) said on Tuesday. Ghana – the second-biggest economy – is expected to experience a 6.3 per cent gain this year, the IMF’s World Economic Outlook released

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Local banks catch ‘merger phobia’ as recapitalisation deadline approaches

Local banks catch ‘merger phobia’ as recapitalisation deadline approaches

Two experts in banking have taken issue with the posture of local banks towards consolidation, explaining that their “phobia for mergers” is to blame for the high numbers of indigenous banks in the country. Should local banks be open to

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Foreign-labelled goods flood shops

Foreign-labelled goods flood shops

Some supermarkets and mothercare shops in Accra and its outskirts are selling food and baby products labelled in Chinese and Spanish, in contravention of the law. Since some of the items may contain substances that may trigger allergic reactions, it

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NPA to revoke licences of suspended oil companies for concealing GH¢87m fuel lifted

NPA to revoke licences of suspended oil companies for concealing GH¢87m fuel lifted

Oil marketing companies (OMCs) that have been suspended by the National Petroleum Authority (NPA) following under-declaration of returns on fuel they loaded in January and February also face the risk of losing their licences, the Chief Executive Officer (CEO) of

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Dzemeni Fishermen strike to demand more premix from gov’t

Dzemeni Fishermen strike to demand more premix from gov’t

Fishermen at Dzemeni in the South Dayi District of the Volta Region, have declared a one month strike over what they say is the poor allocation of premix by the government. The fishermen, who depend on the product for their

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Five oil companies suspended for failing to declare returns

Five oil companies suspended for failing to declare returns

Five oil companies that under-declared or failed to declare returns on fuel they loaded at the Tema Tank Farm (TTF) this year have been suspended by the National Petroleum Authority (NPA) until they are able to reconcile their figures and

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Local banks hit gov’t for giving contracts to foreign banks

Local banks hit gov’t for giving contracts to foreign banks

As President Nana Akufo-Addo prepares to set up a committee to look into a petition presented by the Association of Indigenous Banks to extend the deadline of the minimum capital requirement, members of the Association are accusing present and past

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