Author: citibusinessnews
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Nigeria: Fares Rise By 200 Percent As Fuel Scarcity Persists
Amid efforts by the Nigerian National Petroleum Corporation (NNPC) and independent marketers to ensure the supply of Premium Motor Spirit (PMS) in the country, fares have increased by over 200 per cent in major cities in the country. There are signs too, of restiveness in some parts of the country just as Lagos Governor Akinwunmi…
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Rwanda: Airtel Rwanda to Recognise and Support Change-Makers
Individuals or groups that work to support and improve the lives of disadvantaged communities have got a boost following the launch of a campaign to identify and support them by a local telecom firm. The “Airtel Touching Lives Initiative” seeks to recognise and support individuals or groups that have made significant contribution to their communities…
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Fidelity Bank, Prudential launch innovative insurance solutions
Fidelity Bank Ghana Limited and Prudential Life Insurance Ghana have launched innovative insurance solutions to protect Ghanaians from life’s misfortunes. The Hospital Cash Plan, which is the first of its kind in Ghana, provides financial support to customers who suffer some form of income loss due to hospitalization. A release copied to Citi Business News…
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S.Africa’s credit rating at risk due to political tensions: S&P
Political upheavals in South Africa pose a risk to its sovereign credit rating, ratings firm Standard & Poor’s said on Wednesday, a day after President Jacob Zuma survived an impeachment motion in parliament for ignoring the constitution. S&P said last week’s constitutional court ruling that Zuma had breached the constitution by ignoring an order to…
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Kenyan Cenbank governor says commercial bank lending rates still need to fall
Kenya’s central bank governor said inflation could fall further in coming months and that a proposal by lawmakers to cap commercial lending rates would be “extremely harmful”. Governor Patrick Njoroge told a news conference on Wednesday commercial banks lending rates still needed to come down and that the current account deficit in East Africa’s top…
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Nigeria: Africa’s Richest Man, Dangote, His Brother, Dantata, Linked to Shell Companies in Tax Havens
With a staggering $15.4 billion wealth, Nigeria’s businessman and industrialist, Aliko Dangote, is on Forbes Rich List as the richest man in Africa. But does Mr. Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? That remains unclear. Yet that question has become even more relevant across the globe…
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Deposit Protection Bill close to passage into law
The Deposit Insurance Bill currently before Parliament is likely to be passed into law within the next couple of months to pave the way for retail deposits to begin. This will enable Ghanaians to enjoy deposit insurance before the end of the year since the insurance of deposits covered under the impending law will come…
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IDC and ITIDA to Explore Egypt’s Digital Transformation Potentials as CIO Summit Returns to Cairo
The ICT-focused event represents the largest gathering of CIOs, business heads, and technology thought leaders in Egypt International Data Corporation (IDC) (www.IDC.com) yesterday formally announced details of its second annual Egypt CIO Summit (www.idcEgyptsummit2016.com) to be hosted in partnership with ITIDA at Cairo’s Nile Ritz-Carlton Hotel on Monday, April 11. Held under the patronage of…
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Visa-on-arrival not to affect ECOWAS citizens
The Foreign Affairs Ministry has clarified that Ghana’s decision to introduce a visa-on-arrival policy for African citizens will not affect the Economic Community of West African States (ECOWAS) member states. [contextly_sidebar id=”h3ciGkrDE2hGLKHML8lHp7Nc6n51CjaX”]President John Dramani Mahama, announced the decision in his State of the Nations address to the Ghanaian Parliament on February 25, 2016. The decision,…
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Puma Energy commences operations in Ghana
Puma Energy, a global mid and downstream energy company operating in 47 countries across five continents, has officially commenced operations in Ghana. The company also operates in partnership with Blue Ocean Investments in the storage business and UBI Petroleum. A press statement copied to Citi Business News explained that Puma Energy Distribution Ghana, will mainly…