Author: citibusinessnews
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Tomato prices shoot up in second week in April
For the second week in April, tomato recorded the highest gain in price. It is now selling at 7 cedis 20 pesewas per medium size tin. [contextly_sidebar id=”n9cgdv4bA4TOwghce97GeVVJNymoqfXj”]Yam followed with a 5 percent gain in price to close the week at 5 cedis 60 pesewas per medium size tuber. Checks by Esoko Ghana also indicated…
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Ghanaian CFOs pessimistic about cedi’s future performance
A new report dubbed ‘Deloitte CFO Survey 2015’ conducted by Deloitte, a global professional firm, has revealed that majority of Chief Financial Officers (CFO’s) in Ghana are pessimistic about the cedi’s future performance. The report also revealed that currency volatility is seen as the top risk factor for businesses in Ghana. The report was arrived…
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Poultry Farmers downplay effect of ban on ‘day old chick’ importation
The National Poultry Farmers Association has stated that a ban on the importation of ‘day old chicks’ announced by government will have no effect on the poultry industry. The Ministry of Food and Agriculture announced on April 6, 2016, that importation of day old chicks and other poultry products from neighboring countries have been banned…
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Petrol prices up by over 4%, diesel up by 2%
Following the implementation of the petroleum price deregulation policy by the National Petroleum Authority (NPA), prices of petroleum products have been revised upwards for the first review window in the month of April. [contextly_sidebar id=”6cm1hRRXYDupMqFkhATkbLDUltqMTm3T”]Checks by Citi Business News reveal that the price of petrol has gone up between 4 and 4.5 percent while that of…
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BoG Governor must work to reduce interest rates
Players in the financial industry want the new BOG governor, Dr Abdul Nashiru Issahaku to amend and push policies that will help reduce interest rates in the country. [contextly_sidebar id=”y7FMiSoIR854G1r6KBl7KecjbpKti9yy”]President Mahama on Tuesday appointed a new governor for the bank of Ghana following the retirement of the former, Dr Henry Kofi Wampah. Speaking in an…
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Uganda: Cocoa Exports Hit Shs244 Billion – Report
There has been a silent but brawling debate over Uganda’s cocoa export volumes, and the value in particular. Now, a report by Swisscontact, a non-governmental organisation, indicates that the country earns more than was expected. The 2015 annual report, Improving Markets for Honey and Cocoa Value Chains in Uganda, reveals: “Since July 2015, cocoa is…
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Algeria: Railway Projects in Djelfa Make Up 10 Percent of National Programme
Minister of Transport Boudjemaà Talai announced Tuesday in Djelfa (275km southwest of Algiers), that the railway projects which are under construction in the province total 320km and make up 10% of the national programme of 2,300 km. Hosting a news conference at the end of his working and inspection visit to Djelfa, the minister said…
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Egypt’s Former Top-Auditor Fined for ‘Defaming’ Ex-Minister
An Egyptian criminal court fined the former head of the Central Auditing Authority Hisham Geneina, who was recently dismissed by the president after making statements on purported government corruption, on a charge of defaming a former justice minister. Geneina was fined EGP 20,000 (around $2,251) Geneina, along with a journalist at Al Wafd newspaper, Tahany…
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Namibia: SME Bank Needs Fixing – Alweendo
ECONOMIC planning minister Tom Alweendo yesterday admitted that the SME Bank is not doing what it is intended to do. He said this during a business breakfast meeting on the Harambee Prosperity Plan (HPP) in Windhoek which was organised by the Namibia Chamber of Commerce and Industry (NCCI). The HPP was launched by President Hage…
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FNB declines to give reasons for closure of Guptas’ accounts
Leading financial services companies in the country have ended their business ties with the controversial Guptas’ Oakbay Investments and its listed entity Oakbay Resources. The controversial family has come under attacks over the last few months for allegations ranging from ‘corruption to state capture’. First National Bank joined ABSA, Sasfin and auditing firm, KPMG, in…