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Patient capital of up to 15-yrs is coming – Ofori-Atta assures businesses

Patient capital of up to 15-yrs is coming – Ofori-Atta assures businesses July 7, 2021 Ken Ofori-Atta The long-standing problem of lack of patient capital faced by businesses, particularly manufacturers, will soon be a thing of the past when the Development Bank of Ghana (DBG) comes off this year, Finance Minister Ken Ofori-Atta has assured. Speaking to captains of large producers in Accra, Mr. Ofori-Atta said the soon to be established lender will be able to lend capital for up to 15 years and will not be allowed to take deposits, in what will be a boost to the business community. “We are going to get a much more exciting environment going forward, in which we will seek to address the current challenges faced by businesses,” he noted.

EU-Ghana Economic Partnership Agreement takes off

EU-Ghana Economic Partnership Agreement takes off July 2, 2021 Finally, the long-standing Economic Partnership Agreement between Ghana and the European Union (EU), which has seen a delay of close to five years, has come into force, enabling the country and Europe to trade duty-free and quota-free on some selected goods. According to a joint press release from the Trade Ministry and the EU, the interim Economic Partnership Agreement (iEPA), which takes immediate from July 1, 2021, will guarantee duty-free quota-free access to the EU market for products made in Ghana, giving the country access to the European market for 80 percent of the total volume of exports to the bloc.

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