Author: citibusinessnews
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Citi FM holds roundtable discussion on National ID today
Ghana’s most influential radio station, Citi FM, in collaboration with the World Bank, will today [Thursday] hold a roundtable discussion on the need to integrate the various statutory identification cards. The theme for the programme is “National Identification: A Panacea for Ghana’s social, economic and political development.” Key speakers include Prof. Ernest Dumor, Former National Identification Authority…
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Govt backtracks on withdrawal of 20% tax on mobile phones
Citi Business News can confirm government has cancelled the withdrawal of the 20% import tax on mobile handsets and accessories. The Minister of Finance Seth Terkper, confirmed in the 2015 budget, plans to remove the import duties as part of measures to bridge the digital divide in the country which was later passed by parliament. Citi…
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MTN hires former U.S. Attorney to help on Nigeria fine: FT
MTN Group has hired a former top U.S. law enforcement official to help challenge a $3.9 billion fine imposed by Nigeria for failing to disconnect unregistered users, the Financial Times reported on Wednesday. Citing people familiar with the situation, the newspaper said former U.S. Attorney General Eric Holder pleaded with Nigerian officials last month on…
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Access Bank rewards customer with saloon car
A customer with the Airport branch of Access Bank, Humphrey Awuletey Williams, has been rewarded with a brand new Hyundai Accent after emerging tops in the second mini-draw of the bank’s “Change Your Level” promo. His reward, the second mini draw to be held, saw other fourteen winners presented with a flat screen LED TV,…
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3 reasons why the cedi should not be devalued – Amoabeng
Group Chairman of UT group of Companies, Prince Kofi Amoabeng, has waded into the debate as to whether or not the cedi should be devalued. According to him, devaluing the cedi was unnecessary as the currency continues to depreciate considering its floating nature. The Cedi depreciated by 15.7% in 2015. The Governor of the Bank…
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Financing SMEs still challenging in Ghana
The Association of Ghana Industries (AGI) for instance, at a stakeholders’ forum, revealed that almost all proposals by its members to secure funding from the Export, Trade Agricultural and Industrial Development Fund (EDAIF), were denied in 2015. President of AGI, James Asare Adjei also tells Citi Business News addressing such needs will enhance private sector growth and…
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Total elimination of tax exemptions unattainable
A tax analyst, Abdallah Ali Nakyea has cast doubt at government’s ability to adhere fully to suggestions that it eliminates the tax exemption regime in the country’s tax laws. The Deputy Managing Director of the IMF, Min Zhu yesterday reiterated the need for Ghana to eliminate its tax exemptions. According to him, the move will…
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Transport Ministry to name new National Airline partner in March
The Ministry of Transport has hinted to Citi Business News it will name a new partner for Ghana’s new national airline by the end of March. According to the Ministry, the transaction advisor, Price Waterhouse Coopers (PWC) is currently awaiting an approval from the Public Procurement Committee of government on the tender documents to pave way for…
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ECOWAS common external tariffs will not be suspended-GRA
The Ghana Revenue Authority (GRA) has ruled out any plans to suspend the implementation of the ECOWAS Common External Tariffs (CET). Chief Revenue Officer of the Customs Service Division of the Ghana Revenue Authority, Dr Okoh Appiah told Citi Business News ‘this one has gone through. It’s an act of parliament now. Act 905, that’s…
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SIC launches into Savings and Loans
A new entrant to the Savings and Loans industry, is promising of innovative products to help attract the unbanked. SIC Life trust finance company Thursday, January 28,2016, received its charter from the bank of Ghana to now engage in the savings and Loans Business under the company name SIC Life Savings and Loans Company Limited. SIC…