Author: citibusinessnews
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NPA moves to protect consumers from oil price hikes
The National Petroleum Authority (NPA), the body regulating operations of the petroleum downstream sector says it will protect consumers of petroleum products from a possible increase in the global price of crude oil. [contextly_sidebar id=”7dasUw4LXuRCJe3Uukqrd7Dk4vPpJwVy”]This is the assurance coming from the Chief Executive of the NPA, Moses Asaga. According to him, the move is to…
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Finance minister reacts to IMF’s rating of Ghana
Finance Minister Seth Tekper has attributed Ghana’s performance in the assessment by the International Monetary Fund’s review committee to government’s ability to implement efficient policies aimed at reducing the country’ fiscal deficit. [contextly_sidebar id=”qsCg4zGajXYERKMiaxQ4Yqo9Ov8jog6v”]The IMF in its latest review report released on Thursday commended the government for a satisfactory implementation of the program and meeting…
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Two Ghanaian cocoa farmers win international cocoa awards
Two Ghanaian cocoa farmers Osabarima Adusei Peasah IV, Chief of Akyem Tafo in the Eastern region and Abubakari Alidu of Ahafo Ano South in the Ashanti region have received the internationally acclaimed Cocoa of Excellence award 2015. [contextly_sidebar id=”xYBPdB1nvkBMXU2LX6BjhHcqdw7ELw3W”]The awards ceremony took place at the Porte de Versailles Exhibition Centre, Paris during the 21st Edition…
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Sam Jonah takes over BHP Billiton’s Liberian iron-ore interests
Liberian iron-ore interests of diversified major BHP Billiton have been acquired by Cavalla Resources. [contextly_sidebar id=”QM5lV4ubctJGpsPcG2QvliAVwzWbl2X5″]Cavalla Resources is a wholly-owned subsidiary of investment holding company Jonah Capital, a private company with a portfolio of assets primarily in the mineral resource sector in sub-Saharan Africa and owned by business mogul Sam jonah. Cavalla has been granted…
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Ghana must review capital requirement-U.S. Chamber of Commerce
The U.S. Chamber of Commerce says the current minimum capital requirement for wholly owned or businesses with foreign investor interest in Ghana must be reviewed. [contextly_sidebar id=”cBS537SKiWlltlYK66hhN06cmTWlxcJP”]According to the chamber, Ghana’s minimum capital requirement for foreign businesses serves as a disincentive to foreign investor interest in the country contributing to the reduction in foreign direct…
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We are not in competition with banks – Telcos
Telecom companies in the country have rejected claims that they are in a fierce competition with banks following the introduction of mobile money sector in Ghana. [contextly_sidebar id=”lT67KSoca4oWTMNN5VxTmzWNdY8a5bNN”]According to the telcos, banks are rather benefiting hugely from the introduction of mobile money. Their assertions follows the debate on whether or not telcos are taking over…
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Parliament to soon pass amended public procurement Act
Citi Business News has gathered that the much awaited draft amendments to Act 663 of the Public Procurement Act will be passed into law by parliament by December. The need for the amendment according to the Public Procurement Authority (PPA) was to remove operational inefficiencies which hindered the smooth implementation of the Act, since its…
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Massive drop in Ghana’s FDI (Infographic)
Ghana’s numerous economic challenges may have put investors away as Foreign Direct Investments (FDI) declined for the third quarter of 2015. According to figures released by the Ghana where to buy isotretinoin gel Investment Promotion Centre (GIPC), investments for the period dropped by about 56% compared to 2014 figures. – By: Pius Amihere Eduku &…
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Allied oil tops cheapest oil price rankings
Allied Oil has been adjudged the best Oil Marketing Company (OMC) offering the best price for diesel and petrol at the pumps. [contextly_sidebar id=”u3mMneZ8ZMoE1fKpM5WTFtToSDSpov9o”]This is according to the Chamber of Petroleum Consumers. In all ten oil marketing companies were surveyed. Allied placed number one with the best price at the pumps while SO Energy placed…