Author: citibusinessnews
-
GUTA intensifies action against high taxes
The Ghana Union of Traders Association, (GUTA), has directed all its members to raise red flags at their shops in support of protests to demand a reduction in what the association refers to as a high tax regime. A press statement issued by the Joint Private Sector Business Consultative Forum comprising GUTA and affiliate groups…
-
Anglogold denies pullout of illegal miners from Obuasi site
Anglogold Ashanti has rejected claims that illegal miners occupying the Obuasi mine have been removed by the Ashanti Regional Police Command. According to a statement issued by the company, the illegal miners continue to occupy and operate on parts of the mine . This comes after the Ashanti Regional Police Command denied having withdrawn partially…
-
Severe weather conditions to push food prices up
Prices of some foodstuffs are expected to shoot up if the current weather conditions persist. According to ESOKO, price of tomatoes could increase to about 35%, while maize could go up by 5% in the next three months if there are no rains. Though the price of tomatoes has seen continuous reduction of at least…
-
GHS500m bond necessary to tame budget deficit – Dr. Bokpin
An Economist, Dr. Godfred Bokpin has described as necessary, government’s decision to issue a 500 million 5 year fixed rate bond this month. He told Citi Business News the move will enable government meet the funding gap which has contributed to the country’s budget deficit. Figures released by the Finance Ministry show that the country’s budget…
-
Low patronage of ADB shares as it nears closure
Patronage of Agricultural Development Bank’s shares appears to be low with barely two weeks to end of the bank’s Initial Public Offer (IPO). ADB is hoping to raise a total of 398,454,178 cedis from the IPO. A total of 74,888,369 shares belonging to the Bank of Ghana are to be sold while another set of…
-
Float TOR, GNPC on stock exchange to enhance efficiency – Dr. Steve Manteaw
Some players in the oil and gas industry have made a strong case for government to cede majority stakes of non-performing state institutions in the energy sector to the public. They describe as unsustainable, government’s continuous allocation of resources to institutions like the Ghana National Petroleum Corporation (GNPC). They have also attributed the underperformance of…
-
Illegal mining, the politics and a needless death
Over the weekend, a tragic incident occurred at the Obuasi Mine of AngloGold in the Ashanti Region. The company’s Corporate Affairs Manager, the affable Mr. John Owusu was reportedly run over by a company vehicle as he together with a group of company officials and journalists were fleeing from rampaging illegal miners who were pelting…
-
Afriwave controversy: NCA’s ‘original’ application evaluation report out
The National Communications Authority, (NCA) has released what it calls the authentic report of the Application Evaluation Panel (AEP) on the award of the contract for the Interconnect Clearing Services. The report was published on the NCA’s website on Sunday February 14 2016, although the panel finished its work more than a year ago. Pressure…
-
Investors told to target Africa’s mega-cities, including Accra
Investors who wish to do business in Africa have been advised to re-strategize and target big and growing cities on the continent such as Accra, Lagos, Nairobi, Kinshasa and Johannesburg. This means that instead of taking a view on the continent as a whole, or choosing one country over another, they can seize opportunities city…
-
Vodafone makes two senior management appointments
Vodafone Ghana has announced two key Senior Management appointments as it continues to chart a leadership course in innovation and creativity across the Telecommunications landscape. Following its entry into the industry, Vodafone has been at the forefront of the transformational agenda, introducing dynamic products and services for customers and maintaining a key voice in thought-leadership.…