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PUWU cautions gov’t on electricity tariff reduction                                                     

Boakye Agyarko, Minister for Energy

The Public Utility Workers Union (PUWU) has urged government to be cautious in the proposed reduction in electricity tariffs. Government in its 2018 budget announced that it will reduce electricity tariffs to bring relief to businesses and domestic users of electricity. PUWU is however, seeking clarity on how power producing companies will cater for the cost implication of the reduction. ...

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Analysts urge private sector involvement in TOR

TOR

Analysts in the oil and gas sector are upbeat about government’s plans to revamp operations of the Tema Oil Refinery (TOR). Though they have largely lauded the move, the industry watchers have suggested the need to attract private sector participation in order to achieve the full objectives. The comments also follow recent fuel shortage and its impact in Neighbouring Nigeria. ...

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Gov’t to vet all small-scale miners in 2018

Prez Nana-Addo-620x330

President Nana Addo Dankwa Akufo-Addo has disclosed that government will from 2018 vet all small-scale miners across the country to regularize and monitor their activities. The move, he said will ensure that small-scale mining is done in a responsible, environmentally-friendly and sustainable manner. The President made the statement at the commissioning of the Secretariat for the Inter-Ministerial Committee on Illegal ...

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Gov’t clears one billion cedis arrears to road contractors

Kwasi Amoako-Atta ; Minister Nominee for Roads & Highways

Government has paid over one billion Ghana Cedis within the past 11 months to road contractors as outstanding arrears for work executed during the previous government’s era, Mr Kwesi Amoako-Atta, the Minister of Roads and Highways, has disclosed. The Minister added that the Government had made arrangement to disburse another GHC120 million to road contractors whose arrears had been outstanding ...

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Petrol, LPG prices to remain stable at pumps – NPA

Hassan Tampuli - CEO, NPA

Prices of petrol and Liquefied Petroleum Gas (LPG)  will remain fairly stable at the pumps from January 1, 2018, the National Petroleum Authority (NPA) has announced. The NPA in a statement explained that, this is “in line with a drop in crude and petroleum prices on the world market, as well as stability in the exchange rate.” The Authority added that, ...

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Top 20 business stories in 2017

Dr. Bawumia (L) and Ken Ofori-Atta (R)

Your most comprehensive business news website,  citibusinessnews.com brings you some of the top business stories in the year 2017. These news’, which cuts across different sectors of the economy also featured on our news bulletins on Citi FM. GCB takes over UT and Capital banks The Bank of Ghana in 2017 revoked the licenses of two indigenous banks, UT Bank ...

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Supreme Court awards dismissed adb employee Ghc100,000

adb

The Supreme Court has awarded damages of GHC 100,000 against Agricultural Development Bank (adb) for wrongfully terminating an employee’s contract. In 2012, the employee, Abena Pokua Ackah, who is the applicant, was handed a letter by adb which indicated that her appointment had been terminated for gross misconduct, and for bringing the name of the bank into disrepute. “You will be ...

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$2.25bn bond saga– CHRAJ clears Ofori-Atta of Conflict of Interest

Ken Ofori Atta - Finance Minister

The Commission on Human rights and Administrative Justice (CHRAJ), has cleared the Minister of Finance, Ken Ofori-Atta, of conflict of interest in the issuance of the government’s recent bond. “On the basis of the evidence available to the Commission, it has come to the conclusion and therefore holds that, the allegations by the complainant that the respondent has contravened Article ...

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COCOBOD to tackle swollen shoot disease

Joseph Boahen Aidoo, Chief Executive of COCOBOD on a cocoa farm visit

The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has expressed deep worry about the extent of Cocoa Swollen Shoot Virus Disease (CSSVD) infestation on cocoa farms in Ghana. Mr. Aidoo made the observation when he toured some cocoa farms in the Western South and Western North Cocoa Regions of Ghana to acquaint himself of the state of ...

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GSE to delist CPC, two other companies

Cocoa Processing Company

The Ghana Stock Exchange (GSE) has put on its watch list three distressed companies including Cocoa Processing Company (CPC) for possible delisting if their financials do not improve by the end of May, 2018. CPC, known for its flagship ‘Golden Tree’ products, currently operates at less than half of its annual capacity of 64,500 tonnes. CPC said in August it ...

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