Author: citibusinessnews
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Utility price hikes: Prices of goods and services to shoot up
Shoppers should be prepared to pay more for items they purchase during the festive season. This is the indication coming in from businesses following the increase in utility tariffs. [contextly_sidebar id=”ZvP6c9orP8Ik31PNVaDNiJMk51hYiHFj”]The Public Utilities Regulatory Commission (PURC) on Monday, December 7th 2015, announced a 59.2 and 67.2 percent increase in the prices of water and electricity…
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Businesses shocked at utility price hikes
The Ghana Chamber of Commerce and Industry (GCCI) has described as shocking, the decision by the PURC to increase prices of utility. [contextly_sidebar id=”6j5tsgs3loUc4ZPNeSTTHkDAIoBvkynW”]The President of the Chamber, Seth Adjei Baah in an interview with Citi Business News said, “We are shocked and surprised because as at now, most people are not breaking even and…
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Electricity tariffs up by 59.2%, water 67.2% ahead of Christmas
The Public Utilities Regulatory Commission (PURC) has increased electricity and water tariffs by 59.2% and 67.2% respectively ahead of the Christmas season. [contextly_sidebar id=”gJcBJHdx8i2FFPhY0Et6fF8zHE29Rwc8″]The Commission explained that it increased the tariffs after a “careful investigation” of proposals submitted by the utility service providers. The proposed increment takes effect from December 14, 2015. The Commission says…
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Domestic airlines lose revenues to poor visibility in harmattan season
Operators of domestic airlines have cast a gloomy picture at the performance of the aviation sector with some few weeks to the end of year. This follows the adverse impact of poor visibility due to the harmattan on their operations. Several domestic flights have been cancelled as a result of poor visibility. [contextly_sidebar id=”p1958h1iUyLKci7CBd9CqVpwX7WF3G7x”]The situation…
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Nigerian regulator ‘backtracks’ on MTN fine reduction
Mobile network MTN said regulators in Nigeria have adjusted the company’s multi-billion dollar fine upwards again from $3.4bn (R48.9bn) to $3.9bn (R56bn). [contextly_sidebar id=”gt5jK9qyxENZ9In7a0dIB81bWd8hnrFG”]On October 26, MTN announced that it had been fined $5.6bn in Nigeria for failing to disconnect up to five million unregistered SIM cards in a timely manner. Then on Thursday, the mobile…
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Power barge connected to national grid – GRIDCO
The Ghana Grid Company (GRIDCO) has connected the power barge to the national grid. The connection, Citi Business News understands was completed a couple of days ago. Chief Executive of GRIDCO, Engineer William Amuna in a Citi Business News interview said his outfit is ready to feed into the national grid with power generated by…
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Price of rice shoots up by 12% in December
The price of imported rice has increased by 12 percent for the first week in December. Currently, a 5 kilogram bag of rice is being sold for 28 cedis, up from 25 cedis for the same quantity of rice during the last week of November. Maize and yam followed with 2 percent and 1 percent…
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Peasant farmers call for investments to reduce climate change impacts
The Peasant Farmers Association of Ghana has appealed for more commitment to reduce the impact of climate change on Ghana’s agricultural sector. According to them, output will increase marginally with the provision of efficient systems to produce throughout the year. The 2016 budget statement showed that government expenditure on agriculture has been reduced by 40…
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Industry appeal for tax cuts on ICT imports
High taxes on imports have been cited as a major factor accounting for the low patronage of technology based applications by businesses in Ghana. [contextly_sidebar id=”SDzLMgKSpYKXK4sm1gilT5zpISC6kKax”]This is the concern being raised by players in the ICT sector. According to them, the situation has also affected the larger economy as businesses are unable to expand and…
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Local companies ‘no show’ at 800 MHz spectrum auction
Citi Business News has gathered local companies failed to take part in the 800 MHz band spectrum auction by the National Communication Authority (NCA) on Wednesday, 2nd December, 2015.. The local companies; Surfline, Goldkey and Migson communications represented by the ICT Chamber, had made arguments for the auction to be limited to only Ghanaian companies. [contextly_sidebar…