Author: citibusinessnews
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Goldfields to sack about 2,000 workers in Ghana
Over two thousand workers of Goldfields are likely to be fired in Ghana in the coming months if gold prices on the global market does not recover. [contextly_sidebar id=”asTg2bI9qoh3a7ptMXFjZbnkrV94MfIz”]The dismissals will occur if the mining giant goes ahead with plans to shut down the Damang mine in Western Region. Citi Business News has gathered the…
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Prices of cassava and millet shoot up
Whereas prices of some foodstuffs increased in the Ghanaian markets within the third week of November, others decreased. [contextly_sidebar id=”GZEfVSjXn51yJ5Eyi5J1l05hz1eWYUFw”]The highest increase of 7 percent was made by Cassava (fresh tubers) to close the week at an average price of GH¢ 3.50 per 3-4 tubers. This was followed by Millet with 4 percent gain in…
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Dubai’s Eagle hills to save Trade Fair centre from its woes
The Ministry of trade and industry is negotiating to secure a one billion dollar investment to turn the Ghana International Trade Fair Centre into a multi-purpose convention centre. [contextly_sidebar id=”ax848dbESmrmQyjNZHAxVpqnZSDGsreX”]The Minister of trade Dr. Ekow Spio Garbrah is currently in Dubai leading the negotiations, expected to be sealed before close of year. The once thriving…
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Govt introduces tax credits to reduce losses from tax exemptions
The Ministry of Finance says plans are far advanced for the implementation of a new mechanism to replace the granting of total exemption of tax to businesses. [contextly_sidebar id=”M4gKgFRw4dgNMQVzx8uNB4VwyRz6msDt”]The tax credit policy according to the Ministry will require that businesses make an upfront payment of the required taxes and given a credit note which will…
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MTN, Surfline & Goldkey bid for NCA’S 800MHz License
The National Communications Authority (NCA) has announced that four companies have applied to take part in its auction of the 800MHz band spectrum. [contextly_sidebar id=”gg0MNDVv8Tq0CilexhEa4ceIIzyX6qx9″]The four companies are MTN Ghana, Surfline Communications, Goldkey Telecom and Migson Communications. The four all submitted applications by the 9 November 2015 deadline and now await assessment of eligibility by…
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Ghanaian to be inducted into the National Inventors Hall of Fame
Ghanaian born electrical engineer Victor B. Lawrence is to be inducted into the National Inventors Hall of Fame. [contextly_sidebar id=”MQAEHOUV3KxjAn2u8s6N1OgpGthbz37q”]Victor B. Lawrence together with 15 other inventors will be formally inducted at a ceremony on May 5, 2016, at the Smithsonian American Art Museum and the National Portrait Gallery. Every year, a distinguished group of…
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BoG vows to ensure all monies owed DKM customers are paid
The Governor of the Bank of Ghana (BoG) Dr. Henry Kofi Wampah says the central Bank is working around the clock to ensure DKM Microfinance Company pays customers their initial deposits as directed earlier. [contextly_sidebar id=”5dYN4cL1ONTPgJmX98KDYfFx62jod49j”]According to Dr. Henry Kofi Wampah the central bank is also putting together regulations which will be introduced after parliament…
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Dana air postpones operations
Nigerian airline Dana Air’s inaugural flight to Ghana has been postponed. [contextly_sidebar id=”VCVrFwo9Uguk2cHulfilnWaFRjS7LrHx”]According to Dana Air the rescheduling of their maiden flight was due to upgrading of facilities by the Nigerian aviation authorities at the three airports in Lagos (Murtala Muhammed International Airport, Murtala Muhammed 2 and Domestic Airports). The airline which is looking to…