Author: citibusinessnews
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Algeria to Spare No Effort to Support Any Step Aimed At Unifying Arab Ranks
Cairo — Prime Minister Abdelmalek Sellal affirmed that Algeria will spare no effort to support any step aimed at unifying the Arab ranks and strengthening the Arab Nation’s cohesion. “Concerning the situation in the Arab world, we affirm that the return to stability and security is a major priority, without which we cannot consider a…
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Maintaining policy rate is sub-optimal – Economist
The Monetary Policy Committee could have reduced the policy rate rather than maintaining it. This is the observation of Economist, Dr. Godfred Bokpin. [contextly_sidebar id=”8BzdpHS6hgWfkDfIycTnn8BGQHusKBka”]According to him, a reduction in the central bank’s policy rate would have enabled commercial banks address challenges such as high incidences of Non-Performing loans due to high interests. The Monetary…
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‘We cannot bailout DKM’ – BoG Governor
The Governor of the Bank of Ghana, Dr Henry Kofi Wampah has made it clear that the central bank cannot bailout DKM microfinance. [contextly_sidebar id=”CddTpMTG5KqdP73hKXcz3FOxrbaaGe6m”]According to the Governor, the central bank has begun the liquidation process with the registrar general’s department which makes it impossible for a bailout of the microfinance company. Some Members of…
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Zuma to lead ANC in Gupta meeting
PRESIDENT Jacob Zuma and his supporters managed to railroad the African National Congress’ (ANC) executive into toning down strident criticism of the Gupta family and its influence on Mr Zuma. After a week of disclosures of the family’s apparent reach into the Cabinet and an exposé by Deputy Finance Minister Mcebisi Jonas effectively accusing Mr…
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Kenya keeps rates on hold
NAIROBI— Kenya’s central bank held its benchmark lending rate at 11.50 percent on Monday, saying that monetary policy now in place had helped moderate inflation expectations, it said in a statement. All but one of the 13 economists buy accutane in malaysia surveyed by Reuters had expected the bank to hold the rate. Source: CNBC…
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BoG holds policy rate at 26% again
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has for the second time maintained its policy rate at 26 percent. [contextly_sidebar id=”fuPGOU6Kb7yDxHBq3qq2i65nl4L7YhE8″]The bank late last year pegged the policy rate at 26 percent and maintained that rate during its first meeting for this year in January. The monetary rate is the rate…
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‘I won’t resign over my son-in-law’s deeds’ – BoG Governor
The Governor of the Bank of Ghana, Dr. Henry Kofi Wampah, has stated emphatically that he will not resign over his British son-in-law’s alleged involvement in the drug trade. The governor’s son-in-law, David McDermott, who has been married to his step-daughter, Ramona Wampah for three years, was on March 11, arrested in Ghana at his…
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Nigeria May Lose N200 Billion in Three Months to Forcados Pipeline Disruption
While Shell Petroleum Development Corporation (SPDC) works towards the rehabilitation of the Forcados Export Terminal pipeline damaged by vandals, Nigeria would have lost about 25 million barrels of crude oil before it’s repaired. The Forcados Terminal in Delta State, which is one of Nigeria’s biggest terminals with the capacity to export about 400,000 barrels of…
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Uhuru, Museveni meet over crude pipeline route
President Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni are today meeting over the route for the planned $4 billion crude oil pipeline to transport the two country’s oil. State House spokesperson Manoa Esipisu said in a statement that, “they will discuss the construction of the Uganda-Kenya oil pipeline, a key plank of the Northern…
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Access Bank launches “Get Paid Anyday” campaign for workers
Access Bank has launched a new product aimed at providing loans to public and private salary workers in time of need. Dubbed “Get Paid Anyday”, the campaign is expected to support workers with a suite of loan products including Automatic Salary Advance and Personal loans, with flexible payment terms and other amazing benefits. “Get…