Author: citibusinessnews
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MTN’s Nigeria License Renewed as Talks Over Record Fine Continue
MTN Group Ltd., the African mobile-network operator that faces a record $5.2 billion fine in Nigeria, said the country’s Communications Commission approved the renewal and extension of its license for another five years. [contextly_sidebar id=”Uh9OXbdGaHvMKhnuyfWXZlJbm98aZygf”]“MTN’s operating spectrum, which was issued along with the digital-mobile license in 2001 with an original expiry date of February 2016,…
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NLA resumes operations with SIMNET despite earlier rift
The National Lottery Authority (NLA), has re-engaged SIMNET Ghana Ltd. (SIMNET) to provide NLA with Online Lottery Services despite an earlier rift between them. [contextly_sidebar id=”mQcCOVeVyA0kUnIE5hpXzEAYGrWvNW68″]According to the authority with the renewal of the relationship, SIMNET would operate alongside the existing Online Lottery Service provider, LOTS Services and together with LOTS boost the authority’s revenue…
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BoG must consider reducing policy rate – Turkson
Some economists are predicting the Monetory Policy Committee (MPC) of the Bank of Ghana (BOG) may maintain the monetary policy rate. [contextly_sidebar id=”gDYsdXoxDDhsCeSZr1Yj2WMYd81mbw6r”]According to Dr. Ebo Turckson, the current inflationary trends, high interest and cost of government borrowing will make it difficult for the MPC to reduce policy rate. The last meeting of the MPC…
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JSE suspends trading in MTN shares
An MTN spokesperson has confirmed to Fin24 that the mobile network’s shares on the Johannesburg Stock Exchange (JSE) have been suspended on Monday morning. [contextly_sidebar id=”pWbP2jaGwfsAjCwr8EXuHQuYezS2frMS”]Chris Maroleng, the executive for group corporate affairs at MTN Group, told Fin24 by phone that trading in the company’s shares had been suspended. “We take note of the JSE’s…
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Consumers to pay more for goods and services
Business operators have warned consumers would have to pay more for goods and services they purchase in the coming weeks if the proposal by the Public Utility Regulatory Commission (PURC) to increase utility prices is upheld. [contextly_sidebar id=”tuflQkmKeUJU4qWm3kf34IggRfQRBYag”]The PURC has embarked on a nationwide consultative forum aimed at engaging consumers on the need to increase…
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GCAA to be divided into two entities
The Ministry of Transport has confirmed the Ghana Civil Aviation Authority (GCAA) will be further divided into two entities, a Civil Aviation Authority an independent regulator as well as an Air Navigation Authority provider (ANSP). [contextly_sidebar id=”fdbd4FnRjanMEXO5hV0AQAnj3hFNXIPi”]This follows the endorsement for the creation of an Independent Civil Aviation Authority after the 2012 Abuja Declaration of…
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Cocoa industry must be deregulated-Yaw Osafo Marfo
A former Finance Minister under the Kufuor administration Yaw Osafo Marfo is calling for the full deregulation of the cocoa sector in Ghana. [contextly_sidebar id=”BtAxCj9nyxTk9UDvxrYqS4nNjDR6e7aP”]According to Yaw Osafo Marfo, private licensed buying companies must be allowed to export their products without going through the Ghana Cocoa Board. He says Ghana’s cocoa sector will see tremendous…