Author: citibusinessnews
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Traders push for cancellation of 17.5% VAT
The Joint Private Sector Business Consultative Forum will be meeting with the Ministry of Finance today, to seek a reversal of the 17.5 % VAT Flat Rate Scheme imposed on traders. [contextly_sidebar id=”sZ9OgcsiQPsFL35fRHXifQTORUPJZca0″]According to the association, government has instigated all registered traders to pay 17.5 % VAT instead of the normal 3%. A development, it believes…
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Minister Chidhakwa Says Mandated to Investigate the U.S$15 Billion Marange Diamonds Loot
Government will soon establish an inquiry into the disappearance of $15 billion worth of Marange diamonds, a minister has said. Mines minister, Walter Chidhakwa, told reporters in the eastern border city last week that his office had been instructed to investigate the matter after President Mugabe expressed ‘deep concern’ over the missing $15 billion. Mugabe…
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Shell says Dutch investigators visit Shell HQ in Nigeria oil probe
Royal Dutch Shell said on Wednesday Dutch investigators recently visited its headquarters in the Hague in the Netherlands in relation to an investigation into a Nigerian offshore oil field. “Representatives of the Dutch Financial Intelligence and Investigation Service and the Dutch Public Prosecutor recently visited Shell at its headquarters, ” a spokesman said. “The visit…
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S.Africa’s rand firmer, stocks set to open lower
South Africa’s rand firmed against the dollar early on Thursday, holding on to its 3-1/2 month high against the greenback, as receding worries of near-term U.S. interest rate hikes buoy investors’ appetite for riskier asset. At 0654 GMT, the rand traded at 14.9100 per dollar, 0.23 percent firmer from Wednesday’s New York of 14.9445. The…
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EOCO chases Saltpond oil company after PIAC report
The Economic and Organized Crime Office (EOCO) is investigating the activities of the Saltpond Oil Producing Company Limited following its failure to pay royalties to the state. [contextly_sidebar id=”gGdgllQZoeftXBAGow8fGBrMcR0Ti19d”]The Public Interest and Accountability Committee (PIAC) has said the company which started operations years ago has failed to pay royalties on over twenty five thousand barrels…
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‘Wampah’s exit is in the right direction’ – Former Deputy Governor
A former Deputy Governor of the Bank of Ghana, Emmanuel Asiedu Mantey says he finds no fault with the early retirement of the Governor of the Bank of Ghana Dr. Henry Kofi Wampah. [contextly_sidebar id=”axX0Xxn1q61EbcTTpN0VAQjKCkwTlecy”]Dr. Wampah is expected to bow out today, after three years at the helm. The Governor announced on Tuesday that he will…
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Use electronic payment system to reduce unbanked population—MD of GCB
The Managing Director of the Ghana Commercial Bank (GCB), Mr. Samuel Sarpong has urged stakeholders in the financial sector to use electronic payment system as a means of reducing the unbanked population in the country. Ghana’s unbanked population, according to the World Bank is around 70 percent, a situation some financial experts have described as…
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GSE and CSD merge securities accounts
Citi Business News has gathered that the Central Securities Depository (CSD) has successfully migrated the securities accounts from the old depositories onto a new platform. This means that the Ghana Stock Exchange Security Depository (GSD) and Central Securities Depository (CSD) have all securities accounts merged and both debt and equity holdings will now be maintained…
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BoG, Saltpond oil production company, others slayed in 2015 PIAC report
The 2015 Semi-Annual Report released by the Public Interest and Accountability Committee (PIAC), has revealed that Ghana’s proceeds from oil fields decreased by over 50 percent for the first half of 2015. The country also lost revenue from gas due to the debts owed by the Volta River Authority (VRA). The PIAC is a civil…
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Vodafone Ghana appoints new CEO
Vodafone Ghana has appointed Yolanda Zoleka Cuba as its new Chief Executive Officer with effect from 1st May, 2016. [contextly_sidebar id=”uqINT4EFnxgugCWoBXsAh3oUYXNsL22s”]This follows the exit of Haris Broumidis, who is taking up a new appointment as Chief Executive and Chairman of Vodafone Greece. Until her appointment, Yolanda, was the Strategy and New Business Director for Vodacom…