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Author Archives: Pius Amihere Blay

Textile workers laud govt for fight against pirated textiles

Textiles people

The Coalition of Textile Workers have told Citi Business News they may not lay off workers as they are optimistic new measures proposed by the Ministry of Trade will solve the challenges facing the local textile industry. The textile workers have on several occasions argued that the Trade Ministry has paid no attention to their fight against illegal pirated textiles ...

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MTN launches IPO next Tuesday

MTN-House-Pix

MTN will launch its Initial Public Offering (IPO) next week Tuesday, May 29, 2018. The exercise is to allow the public access to own a part of the telecom company. Following the completion of the process, the public will have access to thirty-five percent ownership in MTN. The decision to allow public ownership, forms part of the requirement for the ...

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Pambros Salt Company to lay off workers due to encroachers

SALT PIX

Salt manufacturing company, Pambros, has served a strong notice that it may be forced to lay off about half of its workers should activities of encroachers on its properties go unresolved. The company is thus seeking an intervention from the government to help them deal with issues. The concerns follow a working visit by the Minister for Environment, Science, Technology ...

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Trade Ministry starts tax stamp for textiles on September 1st

Alan Kyerematen - Trade and Industry Minister

Traders of substandard textiles may have to redirect their businesses as the Trade Ministry launches a major clamp down starting September 1st 2018. From September, producers and importers of textiles would have to affix a stamp on their products. This is to avoid seizure by an anti-piracy taskforce put together by the Trade Ministry and the Industrial and Commercial Workers’ Union ...

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Producer Price Inflation increases to 6.4% in April

Mr. Baah Wadieh, Deputy Government Statistician

Ghana’s Producer Price Inflation (PPI) increased to 6.4 percent in April 2018. The Producer Price Inflation measures the average change over time in the general prices received by domestic producers for the production of goods and/or provision of services. Comparing the April figure to that of March, the PPI went up by 2.7 percent. In March, the PPI stood at ...

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Gov’t intervenes; LPG operators call off strike

gas shortage

The LPG Marketers Association has called off its 48-hour strike, following government’s intervention. Members of the Association had embarked on a strike to protest government’s planned implementation of the cylinder re-circulation policy which they say will collapse their business. The Association’s strike caused a lot of discomfort to many consumers across the country, as they were turned away from private ...

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Oil emerges as second largest export earner – BoG report

oil block

Ghana’s oil sector emerged as the second largest contributor to the country’s exports for 2017. The country raised an estimated three billion dollars from the oil resources in 2017. Official figures released by the Bank of Ghana show that the total revenue Ghana raked in from her exports stood at 13.8 billion dollars. A further breakdown shows that gold contributed ...

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Patience Akyianu joins Hollard as Group CEO

Patience Akyianu 1

The Outgoing Managing Director of Barclays Bank, Patience Akyianu has been appointed as the Group Chief Executive of Hollard Ghana Holdings Limited. Her appointment is expected to take effect in October this year – 2018. Madam Akyianu joins Hollard after resigning from Barclays Bank in early May. A statement from Hollard Ghana Holdings to Citi Business News on the appointment ...

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Fibre cuts major cause of poor telecom services

NCA

Fibre optic cables have aided the connection of platforms for improved service delivery by telecom operators. However the challenge of dealing with their regular destruction, has left most telecom operators desperate. The phenomenon not only drains resources but creates a gloomy picture for improved services. Citi Business News has been engaging industry players and they suggest that robust measures be ...

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GSA joins fight against influx of cheap imported textiles

Textiles people

The Ghana Standards Authority (GSA) is highly hopeful that local textile producers will be selling their products at competitive market prices as it clamps down on imported yet substandard products. It follows the inauguration of a technical committee to set standards for the local producers. The high cost of local textiles has been the bane of local producers. The textile ...

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