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Tag Archives: Ghana Business News

Non-traditional exports to increase with new export platform

Eric Amoako Twum - Deputy CEO of Ghana Exports Promotion Authority (GEPA)

The Ghana Export Promotion Authority (GEPA) is seeking to boost the export of non-traditional products within the short to medium term. As part of achieving this aim, the GEPA has introduced a new marketing platform for exporters of such traditional products. The new market hub is also expected to expose exporters to modern developments and increase their share at the ...

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Govt cuts back expenditure on health, roads

Ken Ofori Atta - Finance Minister

Government is yet to disburse some GH¢305.27 million outstanding allocation to the Annual Budget Funding Amount for the first half of 2017. According to the Public Interest and Accountability Committee (PIAC), even though the ABFA received some GH¢358.41 million for the first half of the year, the government spent just GH¢53,136,951 or 15 percent of the amount. The issues were ...

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Environment Ministry to ban mercury use in mining

Prof Frimpong Boateng - Minister of Env't, Science, Tech & Innovation

The Minister for Environment, Science, Technology and Innovation, Professor Frimpong Boateng has revealed government’s intentions to drastically reduce the use of mercury in mining activities in the country as it poses serious health hazards. As a result, Ghana has signed an agreement with the MINAMATA Convention. The Convention seeks to ban the use of mercury in artisanal mining to reduce ...

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GPHA engages importers over new tariffs

Tema Port

The Ghana Ports and Harbors Authority (GPHA) on Friday 15th December 2017, met with the Importers and Exporters Association of Ghana over plans to review port tariffs on imports from next year. The meeting which was at the request of the GPHA, follows the announcement of the decision to Ship Owners and Agents Association as well as the Ghana Shippers ...

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BoG targets lower interests with GH¢400m capital                                                             

Dr. Ernest Addison, Governor of the Bank of Ghana

Governor of the Bank of Ghana, Dr. Ernest Addison has assured that the increased minimum capital requirement will result in reducing the lending rates by banks. Dr. Addison argues that the requirements will create stronger banks which will lead to bigger banks and lower unit cost. “Lending rates are still high but the explanations are the high non-performing loans. We ...

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Cedi stabilises amidst festive season blues

Ghana-Cedis-610x330-300x160 (1)

Checks by Citi Business News have shown that the cedi has experienced relative stability against some major trading currencies for the past two weeks. The cedi which normally depreciates at a fast rate around the festive season has since the 23rd of November remained at 4 cedis 41 pesewas on the interbank foreign exchange market and between 4 cedis 48 ...

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Left to die: Local shoe industry struggles for attention [Audio]

shoe factory 1

Ghana’s footwear industry has seen a dip over the past three decades and this has been blamed on the lack of political will by successive governments to sustain the industry. Coupled with this is the high cost of operation for businesses who have attempted to revive the industry. In the 7th of Citi Business News’ series, Left to Die, Pius ...

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Sacked Goldfields workers to be reemployed


Mining firm Goldfields Ghana, has told Citi Business News majority of the workers at Tarkwa mine, that will be laid off this month – December, 2017 will be reemployed by the contractor that will take over the operations of the mine. The mining firm confirmed this morning, 12th December, 2017 to Citi Business News that it will lay off about ...

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Goldfields to lay off 1,500 workers


Mining firm Goldfields Ghana is to lay off about 1,500 of its workers. The retrenchment is expected to affect majority of its miners at the Tarkwa mine. Citi Business News has gathered the layoffs will take effect this month December, 2017. Goldfields has told Citi Business News it had to undertake the layoffs due to the current life of the ...

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EOCO probes AGT Microfinance Company


The Economic and Organised Crime Office (EOCO) has taken over a case involving AGT Microfinance over the company’s inability to pay customers whose investments are due. Citi Business News understands the management has since been compelled to make some commitments in settling the affected customers. Citi Business News’ checks at the central bank show that this issue has been going ...

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Ghana Business News