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Airtel Tigo workers up in arms over redundancy packages

airtel and tigo

Some workers of Airtel Tigo have expressed their displeasure over what they say is the unfair treatment in the redundancy package being offered to them by the new management of the merged entity. Information available to Citi Business News indicates that the issue has led to tension between the workers and the management. The agitated workers, most of whom are ...

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Starwin Products Limited holds AGM


The Chief Executive Officer of Starwin Products Limited, Yaw Opare Asamoah has told Citi Business News the company is consolidating its operations to make it one of the leading pharmaceutical companies in the country. According to him, the company has addressed most of the challenges it faced in 2015. Speaking to Citi Business News after an Annual General Meeting(AGM) in ...

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President charges Exxon Mobil to respect agreed terms

Exxon 5

President Akufo Addo has charged management of Exxon Mobil to respect the terms of agreement signed with the government of Ghana. This follows the signing of an agreement for the oil company to commence operations in Ghana. The agreement which is subject to parliamentary ratification will allow the oil giant to acquire exploration and production rights for the Deepwater Cape ...

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BoG’s MPC meets over economy today


The Monetary Policy Committee (MPC) of the Bank of Ghana will today [January 19, 2018] commence its annual meetings to review the Ghanaian economy. This will be the first for this year and it will conclude with the announcement of a policy rate on Monday, January 22, 2018. For last year [2017] alone, the central bank reduced the policy rate ...

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Freight forwarders bemoan ‘ineffective’ paperless system

Kwabena Ofosu Appiah - President, Ghana Institute of Freight Forwarders

Freight Forwarders have lamented over the poor implementation of the paperless system at the port. The freight forwarders say the system has not improved transactions at the ports especially as paperwork continues to dominate their transactions. The paperless system which has been in operation since September last year (2017), is among others expected to reduce face to face transactions,  paper ...

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BoG to enforce International Financial Reporting Standards this year

Governor of BoG, Dr. Ernest Addison

The Bank of Ghana (BoG) has stressed that it will enforce the implementation of the International Financial Reporting Standards (IFRS 9) among banks in the country, this year. The IFRS is a tool which requires all financial institutions to comply with a common financial reporting standard which will among others reduce their exposures to Non-Performing Loans (NPLs). The move also ...

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Trade Fair agrees to plan to pay electricity bills                                                 

Dr. Agnes Adu - CEO, Trade Fair Centre

The Ghana Trade Fair Centre has disclosed to Citi Business News it has commenced payments of outstanding debts it owes the Electricity Company of Ghana (ECG). According to the Centre’s CEO, Dr. Agnes Adu, the outfit has already paid ten percent of the debt after negotiating an agreement with the ECG. “With the power situation, the ECG towards the end ...

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Nana Addo swears in GIPC board


President Nana Addo Dankwa Akufo-Addo yesterday [17th January 2018], performed the swearing-in of a 10-member of the Ghana Investment Promotion Center(GIPC) at the Presidency. The board is chaired by Mr Kwasi Abeasi. The board is chaired by Mr Kwasi Abeasi. The members include, the Chief Executive Officer of the GIPC, Mr. Yofi Grant, the first Deputy Governor of the Bank ...

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Gov’t signs agreement with ExxonMobil

Energy Minister,Boakye Agyarko with Vice President of ExxonMobil Africa, Pamela Darwin

Government is anticipating increased activities in Ghana’s oil exploration activities with the coming on board of ExxonMobil. The Minister of Energy, BoakyeAgyarko tells Citi Business News the move will also increase government’s revenue from the sector to propel economic growth and transformation. ExxonMobil’s investment in the oil sector becomes the first major one in Ghana following the landmark ruling by ...

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Royal Bank appeals for re-categorisation for minimum capital

Royal Bank 1

The Board Chairman of the Royal Bank, Prof Bill Buenar Puplampu has appealed for a categorization in the minimum capital requirement for banks in the country. Prof. Bill Puplampu’s call comes barely twelve months for banks to meet the new capital requirement of 400 million cedis. Speaking to Citi Business News on the matter, Mr. Puplampu argued that a categorization could ...

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