Author: citibusinessnews
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First Capital Plus rebrands to Capital bank
First Capital Plus Bank has re-branded to Capital Bank. [contextly_sidebar id=”PRhfwnjWKksknqEOBgwQarGXtGhJjrvw”]First Capital Plus Bank which is a wholly-owned Ghanaian bank was given a banking license to operate in August, 2013 after operating as a Savings & Loans company since October, 2009. Speaking to Citi Business News at the sidelines of the launch of the rebranding…
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BOG to fully implement Basel II & III framework by 2017
The Bank of Ghana (BOG) has hinted of moves to fully implement the Basel II and III framework by mid – 2017. [contextly_sidebar id=”DwJZlXg4RAbnVJKE1UEP2wfTRQl6WR64″]According to Governor of the BoG Dr. Henry Kofi Wampah, the central bank as regulators are committed to adopting international standards to ensure that banks hold capital reserves. The Basel II and…
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MTN fine slashed by $1.8bn as Nigeria CEO quits
Africa’s biggest mobile network MTN has announced that its Nigerian chief executive officer has resigned amid a multi-billion dollar fine in that country. [contextly_sidebar id=”BEeq82bkNHTSTvw4BwZyIyYHuDYfCPO3″]The company announced in a statement on Thursday morning that Michael Ikpoki, its Nigerian CEO, has handed in his resignation with immediate effect. MTN Nigeria’s head of regulatory and corporate affairs,…
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MTN wins 4G spectrum auction
Scancom Limited (MTN) has emerged as the winner in the auction process for one frequency spectrum lot in the 800 MHz Band for mobile services. [contextly_sidebar id=”F5KNqudlW2BIWsQu9LMVkQL6JOBiYHGQ”]The auction process which begun in May this year was finalized today. A statement from the National Communications Authority (NCA) on the matter said Scancom has been provisionally awarded…
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UNICOF gives adb 2 week ultimatum to reinstate sacked workers
The Union of Commerce, Industry and Finance workers (UNICOF) has given a two week ultimatum to management of the Agricultural Development Bank (ADB) to reinstate dismissed staff. [contextly_sidebar id=”SX64vmezVeHdSMseGaMkXK7Thy7LqdpQ”]According to UNICOF the dismissed workers were sacked without recourse to proper lay down procedures and therefore must be recalled to work unconditionally. 13 members of UNICOF…
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UTV most watched TV station in Ghana-Report
UTV topped the list of most watched TV stations in Ghana in the third quarter of 2015. This is according to a survey conducted by GeoPoll, one the largest provider of overnight audience measurement data in Africa. According to the survey in the third quarter of 2015, UTV emerged as the most watched station, with an…
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IMF adds China’s yuan to basket of top currencies
The Chinese yuan will join a basket of the world’s leading currencies, the International Monetary Fund announced Monday. chinese[contextly_sidebar id=”XECgRuFgPQ6WiSHjwlGSyVrRnrIKeo5h”]The IMF said that the yuan “met all existing criteria” to be included with the U.S. dollar, euro, Japanese yen and the British pound as one of the currencies used for the global organization’s Special Drawing…
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5-year cedi bond slightly oversubscribed
Government has successfully issued its 5 year cedi denominated Treasury bond. Government was looking to raise about 516.5 million cedis but received a subscription of about 644 million cedis. It however accepted 35 out of a total of 47 bids received which culminated to over 516 million cedis. The subscription was 127.5 million cedis more…
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Scrap off capacity building component of oil expenditure – ACEP
The African Centre for Energy Policy (ACEP) has called for the scrapping off of the capacity building allocation component of oil revenue expenditure. The call follows what ACEP refers to as the government’s inability to disclose fully the specific sectors that benefit from the capacity building allocation of oil revenues. [contextly_sidebar id=”0v1ve7aLzVKT1sQHCAwZJr3X04OfjJP4″]The 2016 budget statement…