Author: citibusinessnews
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Stabilize local currency – Currency Analyst to new BoG Governor
Currency analyst, Samuel Ampah has disclosed to Citi Business News he expects the new central bank governor to implement policies to stabilize the local currency. The cedi which depreciated by 14 percent in the first quarter of 2014, only depreciated by a percentage point for the same period this year. Speaking to Citi Business News,…
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Profile of new BoG Governor
Newly appointed Governor of the Bank of Ghana, (BoG), Dr. Abdul-Nashiru Issahaku assumed his new position at the central bank last Friday April 1, 2016, a release from the BoG has stated. According to the statement, Dr. Issahaku is an International Development Economist with several years of experience in economic policy management and development. Below…
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Zimbabwean minister says banks have credible plans to sell stakes to locals
Foreign banks operating in Zimbabwe have submitted credible plans on how they intend to transfer majority shares to locals, the country’s finance minister said on Saturday, reducing the chances the government could cancel their licences. Under an Indigenisation and Economic Empowerment Act all foreign companies operating in Zimbabwe were given a March 31 deadline to…
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New BoG Governor must fix economic challenges- ex Deputy Governor
A Former Deputy Governor of the Bank of Ghana Emmanuel Asiedu-Mante has called on the new governor of the central bank to focus on fixing the country’s macroeconomic challenges. According to Mr. Asiedu-Mante a turnaround of the economy can be achieved. [contextly_sidebar id=”7AkaZSeNg8TCff8AbOdsPPWJUaK7rZVE”]His comments follow President John Mahama’s appointment of Dr. Abdul Nashiru Issahaku as…
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9 facts about new BoG Governor
President John Dramani Mahama appointed Dr. Abdul-Nashiru Issahaku as Governor of the Bank of Ghana (BoG) on April 4, 2016 to replace Dr. Henry Kofi Wampah who left on an early retirement. [contextly_sidebar id=”L69SBRZ8uECmuEEXx8uaMSLdPkiEP1A3″]Prior to his appointment, Dr. Issahaku served as the Second Deputy Governor at the central bank. Here are nine facts about Dr.…
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Algeria: Air Algerie to Resume Brussels Flights From Wednesday
National airline Air Algerie announced Monday in a communiqué the resumption from Wednesday of Algiers-Brussels-Algiers flights. The flights were suspended following the Brussels airport attacks. In this context, the national airline asked passengers traveling from Brussels Airport to “make registration three hours before boarding for logistical reasons relating to the security measures set up by…
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Mozambican tuna bonds exemplify the perils of markets at the edge
MAPUTO — Mozambique is becoming a case study on the perils of rushing into markets at the edge of the world’s financial system. Global investors who in 2013 thought they were lending a state-owned company $850m to buy a tuna fishing fleet learned within months that the funds had been diverted to buy ships for…
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Nigeria targets elusive small traders in new tax drive
Sewing hair extensions to the plaits on a middle-aged woman’s head, Nigerian hairdresser Bridget Okoidegun is not sure how much tax she pays — something the government plans to change. The owner of a small salon in Lagos could soon find herself on the hitlist of officials who have started cracking down on the small…
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Algeria’s Dates Export Market Share Slightly Up in Four Years
Algeria’s dates export market share slightly increased between 2010 and 2014, noted a study by the National Agency for Export Promotion (Algex) on global trade of dates. Algeria, which is the 8th world’s largest exporter, has its market share increase from 3.3% in 2010 to 5% in 2014. Dates represent one (1) billion of world…
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Ghana begins ‘non-deal road show’
Ghana is to meet investors to showcase the country’s growing economic prospects this week as it prepares to likely launch its next Eurobond. The meeting which will have the Finance Minister leading the delegation is a non – deal road show. [contextly_sidebar id=”t6HA0mkRWw3y8syx7Csc9lm1SPRYEhgR”]Parliament has given government the nod to raise more funds in the form…