Author: citibusinessnews
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Algeria’s Gas Production Expected to Boom As From 2018
Algeria’s gas production is expected to boom as from 2018, after years of stagnation thanks to the entry into production of several gas fields in the south-west of the country, said the US Energy Information Administration. In its analysis report on the Algerian energy sector, this administration coming under the American Department of Energy, anticipates…
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Rand dips over Gupta row on finance minister job
South Africa’s rand fell early on Thursday after claims that a wealthy family with close ties to President Jacob Zuma may have been behind his decision to sack the country’s respected finance minister Nhlanhla Nene in December. The opposition called for the resignation of Zuma after Deputy Finance Minister Mcebisi Jonas said late on Wednesday…
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Price of yam increases in third week of March
Ghanaians should expect to pay more for yam (pona) since the price of the commodity has appreciated in its price. The price of yam has increased by 8 percent and is now being sold in the market at an average price of GHc5.20 per “medium size tuber.” [contextly_sidebar id=”MNBuKMuPOmKJxiOaErT57o8z9d2ZvqR5″]Maize also recorded an increase of 4…
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Business leaders demand Zuma response to Jonas bomb
Johannesburg – President Jacob Zuma needs to come up with a “decisive response” to the latest claims around the Gupta family, Business Leadership South Africa said on Thursday morning. “The statement by Deputy Finance Minister Jonas that he was offered the finance minister’s job by the Gupta brothers marks a grave threat to our country’s…
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ICAG inducts over 300 new members
The Institute of Chartered Accountants has organised its first ever induction ceremony for over 300 new members of the Institute. The two-day programme is designed to initiate the members into the accountancy profession, after passing the institute’s professional examinations. The members were taken through the principles of good ethical behaviors, stress management and were also…
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KRA smashes tax evasion racket at Namanga border
Another major tax evasion ring has been busted at one of the border entry points as the government battles to seal revenue leakages. The latest bust involves Kenya Revenue Authority employees and those of Equity Bank. The racket, which is said to have cost the government over Sh120 million in unpaid import duties at Namanga…
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Alert: Ghana’s telcos in trouble; some face imminent collapse
Ghana ‘s telecom industry is likely to see a number of telecom operators fold up in the coming years if conditions do not improve. Persons familiar with the development are predicting players in the industry with the least customers are likely to be hit the most. [contextly_sidebar id=”8yfVLPQNb7gqcDUwuJFq7bNxshymOTpG”]The development follows poor returns being made by…
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Telcos petition Speaker over Electronic Communications Bill
The Ghana Chamber of Telecommunications has petitioned the Speaker of Parliament, Edward Doe Adjaho over the Electronic Communications Bill. The telecommunications companies argue that the conclusions reached and the recommendations made by the Finance and Communications Committees of Parliament were flawed as they relied partly on stated matters of fact asserted by the National Communications…
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Italian business owners decry cumbersome registration processes
Ghana has lost millions of euros from Italian investors due to cumbersome business registration processes that discouraged them from investing in the country. As at 2015, the volume of Italian investment in Ghana hit 700 million euros. Even though the figure grew substantially from 500 million euros in 2014, experts say the figure could have…
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Review ban on cashew exports : Exporters to government
Cashew exporters want government to as a matter of urgency review the ban on the exportation of cashew. [contextly_sidebar id=”UFUsfMLDySbVEWiTWDCOcusmDxLHMqGT”]The trade ministry yesterday issued a directive that effective the 31st of May will ban the exportation of raw cashew nuts. According to the ministry, it will confiscate any raw cashew brought into the port for…