Business in Ghana

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Posts Tagged ‘Ghana Commercial Bank’

On Fuel Hikes and Petro-Economics

Posted by Business in Ghana on January 6, 2011

By Sydney Casely-Hayford,

The Tema Oil Refinery (TOR) debt is a shifting target.  Without it’s interest element, the current principal debt is estimated at Ghc1.5billion.  This figure includes balances due to Ghana Commercial Bank (GCB), Barclays Bank, Standard Chartered Bank and other TOR notes raised on the commercial markets.  According to the Finance Minister Dr. Kwabena Dufuor, the balance due to GCB alone as at December 31, 2010 is approximately Ghc640million. Read the rest of this entry »


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Government Must Tackle Seriously This Outrageous Interest Rates

Posted by Business in Ghana on November 3, 2010

By Ben Ofosu-Appiah

“Deposit your money with a commercial bank in Ghana and the interest you earn on it can be as low as 7%. Borrow money from a commercial bank in Ghana and you will be faced with an interest rate of 30% or higher.” This was how a friend recently put it. Why are interest rates in Ghana so outrageously high and the Bank of Ghana and the government not doing anything about it? Read the rest of this entry »

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