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CFAO Ghana launches new Mitsubishi Eclipse Cross

Managing Director, Mr. Paulo Fernandes

CFAO Ghana Limited has outdoored the new Mitsubishi Eclipse Cross to the Ghanaian market. Speaking at the launch, a newly appointed Managing Director, Mr. Paulo Fernandes, the objective of CFAO Group is not only to sell, but also to offer customers a reliable and well-designed vehicle that goes beyond to offer mobility. “In fact, our first and only ambition is ...

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BoG to halt fraud in Ghana’s Payment Systems


The Bank of Ghana (BoG) has indicated that it will put in a robust system this month to halt fraud related activities associated with the country’s payment systems. The move, according to the central bank will be implemented in collaboration with banks and telcos. Speaking to Citi Business News on the issue, the First Deputy Governor of the Bank of ...

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Inject $300m into TOR or privatize it- Alex Mould

A panel at the 2018 GhIPCON

Former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould has stated that the Tema Oil Refinery(TOR) will need a capital injection of about $300 million to be able to operate efficiently. The country’s only refinery in recent times has not been able to operate at its maximum capacity due to production losses, frequent breakdowns, as well as ...

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SMEs skeptical of mobile money services (Audio)

telecom mobile money

Businesses are still skeptical of the use of mobile money despite the boom in patronage of the service. Citi Business News’ checks with some small scale business owners show mixed reactions to the use of mobile money services. This means more needs to be done to increase patronage. In the build up to the Financial and Technology Summit as part ...

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Oil & Gas experts caution gov’t against building more refineries


Some experts in the oil and gas industry are asking government to focus on building just one refinery rather than building four as proposed in the Petroleum hub project. According to them, the unpredictability in demands of petroleum products on the export market may not be favorable to Ghana. Local demand for petroleum products have been predicted to grow at ...

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Kumasi Airport phase II to be completed ahead of time  

Aviation Minister - Cecilia Dapaah

The construction of phase two of the Kumasi Airport is expected to be completed ahead of schedule, this is according to aviation Minister Cecilia Daapah. The completion date will now be 2019 instead of the initial date of 2020. Madame Cecilia Daapah made this known at the sod cutting ceremony for Phase 2 of the project. According to her, the ...

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World Trade Centre Accra appoints new Managing Director


The Board of Directors of World Trade Centre (WTC) Accra have appointed Ms. Jane Reindorf-Attoh as its new Managing Director effective June 1, 2018. She takes over from Emmanuel Doni-Kwame who managed the company from April, 2013 to May, 2018. WTC Accra is one of the leading trade promotion organisations in Ghana and is part of the global World Trade ...

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Court dismisses injunction case restraining MiDA

Martin Esson Benjamin - CEO, MiDA

An Accra High Court has dismissed an injunction case brought against the Millennium Development Authority (MiDA) by BXC Company Limited. BXC Company Limited which was part of the companies bidding for the privatization of the Electricity Company of Ghana(ECG) was disqualified by MiDA. BXC was praying the court to order MIDA to stop all forms of discussion and negotiations currently ...

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Ghana needs effective regulation to be a petroleum hub—Experts


Some energy experts at the Ghana International Petroleum Conference (GhIPCON) are urging government to speedily develop a policy framework to back its vision of creating a petroleum hub in the country. This, they believe will ensure effective regulation of the over 50 billion dollar project. Government is seeking to develop a petroleum hub which is expected to include refineries, tank ...

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Non compliant fintechs to lose licenses – BoG

Dr. Ernest Addison - BoG Governor

The Bank of Ghana will revoke the license of any financial technology company that fails to comply with regulatory requirements outlined in the new payment systems and services bill. The fintechs are expected to be compliant at a time where electronic payment systems are increasing significantly. This caution is also contained in the Bank of Ghana’s 2017 Payment systems report. ...

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