Author: citibusinessnews
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CONGO- Kabila twin has Vodacom stake, probe reveals
JAYNET Kabila, twin sister of the Democratic Republic of the Congo’s president and an MP, has an indirect stake in Vodacom Group’s operations in the country, documents show, shedding light on the wealth the opposition says the first family has accumulated. Ms Kabila owns half of Keratsu Holding, a company with a 9.6% indirect stake…
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High aviation taxes to be reviewed
Negotiations between the Ghana Civil Aviation Authority and the transport ministry over concerns of airline operators over high taxes facing the industry, may end with the airlines having their way. [contextly_sidebar id=”JqnxPLVhK2UbY1W1Om4gDh4Tq4royxVn”]According to the Authority, it is working with the Ministry and the Ghana Airport Company to provide a favourable business environment for the airline…
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CIMG hosts CEO of Unilever (Photos)
Managing Director of Unilever Ghana Limited Maidie Elizabeth Arkutu has challenged management members and team leaders to have a clear purpose in their pursuit of achieving their organizational goals. According to Maidie Elizabeth Arkutu, improved performance by organizations can only be achieved with leaders who are self-aware with an intense work of self examination and…
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Cedi’s stable streak to continue till mid year – Analyst
Currency analysts are predicting that the cedi’s relative stability will continue till the end of the first half of the year. [contextly_sidebar id=”Tk87J2wXeUzjo56lc3FCr4WdHg005PTG”]Ghana’s currency has for the first quarter of this year performed relatively better as it has depreciated by only one percent compared to the 14 and 11 percent it recorded in the first…
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TWN presses Goldfields to publish investment plan
The Third World Network (TWN) is challenging mining firm Goldfields Ghana Limited to publicly disclose fully its investments plan for the new development agreement it secured from government. According to TWN, development agreements are for future investment of not less than 500 million dollars which should be justified with a business plan. [contextly_sidebar id=”t0oUyGF5CjfJMq6mMHSEBXeLml95vgwe”]The call…
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Egypt: Reconciliation Efforts Underway in 35 Cases Involving Mubarak-Era Businessmen – Minister
Cairo — Egypt’s Illicit Gains Authority is currently looking into 35 corruption cases involving a number of Mubarak-era businessmen with the aim of establishing “reconciliation” deals, Justice Minister Hossam Abdel Rahim said Monday. Egypt’s authorities came into confrontation with a long history of corruption cases involving several Mubarak-era ministers and businessmen following the January 2011…
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Nigeria: Fuel Queues End From Today – Kachikwu
Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has reassured that the lingering fuel scarcity will end in Abuja and Lagos today. The minister, who was speaking in Abuja yesterday at a town hall meeting when he visited the Petroleum Products Pricing Regulatory Agency (PPPRA), also stated that Kano, Katsina, Sokoto, Port Harcourt and…
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Barclays’ shareholders to vote on African sell down
On Tuesday, Barclays, which plans to sell down its 62.3 per cent stake in Barclays Africa issued a circular to this effect. In its circular to shareholders the bank says it is considering both strategic and capital market options for the sell down. The bank said it is seeking shareholder approval for its plans at a general…
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S.Africa’s rand seen struggling due to local politics, risk aversion
South Africa’s rand edged up against the dollar on Wednesday but was still off recent four-month highs, with local political uncertainty as well as overall low risk appetite seen capping any significant gains. Stocks opened slightly firmer, with the JSE securities exchange’s Top-40 index up 0.5 percent from Tuesday’s close. At 0714 GMT the rand…
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New controller and accountant general appointed
A former Deputy controller and Accountant General, Seidu Kotomah has been appointed as the new Controller and Accountant General. Prior to his appointment he was the Deputy Controller and Accountant General in charge of Financial Management Service. [contextly_sidebar id=”M59yXQhiW7cfTsdSBV5AkNQ9IJizVcfy”]His appointment follows the exit of the former controller, Grace Francisca Adzrone, whose is due for retirement. Seidu Kotomah…