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GCB Bank to publish 2017 financial results end of May


GCB Bank has announced that it will release its financial statement for 2017, by the end of May 2018. The bank says it will at the same time release the first quarter financial performance results for 2018. GCB Bank has been unable to comply with the Bank of Ghana’s directive asking all commercial banks to publish their financial statements for ...

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Trade Ministry intensifies plan to clear foreign retailers

Carlos Ahenkora

Deputy Trade Minister, Carlos Ahenkorah has said, the ministry is developing strict measures to remove foreigners from Ghana’s retail market. Mr. Ahenkorah disclosed that the ministry has come up with pragmatic ways to deal with the issue of foreigners trading in Ghana’s retail market. “That breaking of the commercial law where some Chinese citizens unknowingly come to Ghana invest, trade ...

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We didn’t discriminate against passenger with ‘disability’ – Africa World


Africa World Airlines Limited (AWA), has denied the claim that its staff discriminated against a person with disability by preventing her from boarding a flight she had paid for. AWA believes the unfortunate incident may have been the result of a series of miscommunications that began when the plane ticket was purchased by the aggrieved customer, Rita Kirba. Rita needs ...

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Time to navigate the changing landscape of blended finance


Blended finance is a new buzzword in the development finance discourse. While some key definitions and modalities are still under debate, the OECD Development Assistance Committee (DAC) has set out the “rules of the game” alongside publication of a flagship report. Under the title “Making Blended Finance Work for the Sustainable Development Goals, the report provides a comprehensive treatment of rationales, definitions and instruments as ...

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Gov’t delegation on Eurobond roadshow heads to London


Citi Business News has learnt that a team of government personnel and officials from the Bank of Ghana on a Eurobond road show will be leaving the U.S to London today to meet investors. The roadshow is in preparation of moves by government to raise about 2 billion dollars this year. It is not clear when government intends to issue ...

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Bitcoin to replace dollar in African countries—Operators predict


Some multinational companies engaged in the services of virtual currencies such as Bitcoin and crypto currencies are predicting that Ghana will be the first country on the continent to accept bitcoin as payment scheme. This follows the increasing number of Ghanaians that are said to be engaging in virtual currencies despite a warning from the Bank of Ghana, urging the ...

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Telcos not taking over banks with interoperability

telecom mobile money

Telecom industry players have insisted they are not taking the place of banks even with the launch of the mobile money interoperability. The telecom operators however believe the new system should help reduce the number of people not captured within the banking population. The comment also comes three days to the official launch of the mobile money interoperability. The mobile ...

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Delays in clearing NHIS debt killing pharmaceutical companies


The Managing Director of Intravenous Infusions Limited, David Klutse, has called on government to look for emergency funding for the National Health Insurance Scheme to enable it make prompt payment to its service providers. This, according to Mr. Klutse will help sustain the business of critical service providers in the health sector. In an interview with Citi Business News, Mr. ...

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Govt must come out with alternative retirement plan—Prof. Bokpin


Economist and Head of Finance Department at the University of Ghana Business School, Professor Godfred Bokpin has warned of future hardships for Ghanaians if the country fails to implement alternative retirement plans. This, he believes is because the current law only provides minimum allowance for person’s who retire under the law. His comments come on the back of a recent ...

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Registrar Generals Department extends tax returns deadline

Registrar General, Mrs. Jemima Oware

The Registrar Generals Department has extended the deadline for filing tax returns from 4th May 2018,   to 31st May, 2018. The extension of the date was triggered as many people thronged the Registrar Generals Department to file their tax returns on the final day, overwhelming the staff. Speaking to Citi Business News on the issue, the Registrar General, Mrs. Jemima ...

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Citi Business News