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The Bank of Ghana(BoG) will today auction the first of three dollar auctions for this year to commercial banks in the country as part of moves to stabilize the cedi.

The 1.8 billion dollar proceeds which are from the cocoa syndicated loan, will be embarked on this morning with a volume target of 20 million dollars.

In the three auctions, the central bank is expecting to give out 60 million dollars.

Meanwhile according to rules guiding the auction, only authorized Foreign Exchange Dealing Banks will be allowed to partake.

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The Deputy Minister of Lands and Natural Resources in charge of Mines, Kwabena Mintah Akandoh has called on Mining companies to engage communities to seek their inputs before embarking on rehabilitating mined out lands on their concessions.

He made the call at Perseus Mining (Ghana) Limited in the Central region when he toured the Mine’s rehabilitation sites at Ayanfuri.

The Deputy Minister was conducted round the rehabilitation sites by officials of Perseus Mining (GH) Ltd. in the company of the Chief Inspector of Mines, Mr. Obiri – Yeboah Twumasi and Hon. Ambrose Amoa-Ashia, DCE of Upper Denkyira West Assembly.

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The Economic Commission for Africa (ECA) will be meeting with its partners to figure out action plans to fight illicit financial flows from the continent.

Africa is known to be losing some $50 to $60 billion every year to illicit financial flows.

The ECA says in a press release copied to ghanabusinessnews.com, that it will host a validation workshop in Nairobi, Kenya with its partners next week, to, among other things, establish a clear work plan and deliverable actions for the core group and Consortium of Stakeholders working to confront the IFF challenge on the continent.

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