Author: citibusinessnews
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Massive layoff to hit vegetable industry over ban on exports
The Ghana Association of Vegetable Exporters (GAVEX) has hinted to Citi Business News it will be forced to lay off some workers as a result of the ban on the exportation of vegetables by the Ministry of Food and Agriculture to the European Union Market. [contextly_sidebar id=”eBzcMVRR7Kjam5HjXfmg1uQPn9iUf90a”]According to the President of GAVEX, Juliana Opuni the…
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Cedi will not hit 6 cedis to a dollar- Kofi Amoabeng
Despite the impressive recovery of the Ghana cedi in recent times there are still fears the cedi will go back to its losing ways due to the central bank’s approach in dealing with its recovery. [contextly_sidebar id=”k5EaRgx6FhhdrgslEi9XTH4UrtoJM8VE”]Some economist and financial analysts have predicted more difficult times for the currency, especially in the last quarter of…
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ECG justifies utility price hikes proposal
The Electricity Company of Ghana (ECG) has defended its proposal for a 100% increase in tariffs. [contextly_sidebar id=”EO7te9fPlYPpJ5yva27WObCickhlK1tv”] This follows public uproar against the proposed tariff increments tabled by all the utility companies including the ECG. The Electricity Company of Ghana wants the current tariff of 16pesewas per unit to be increased to 35pesewas while the…
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New cocoa crop season to commence in October
The Ghana Cocoa Board (Cocobod) has told Citi Business News the new cocoa crop season for the 2015/2016 would open on October 2,2015. [contextly_sidebar id=”oF23yd7JJbytEOwtzhM2VSMwrbiZ80ok”]This is after Cocobod extended the deadline for the close of the this year’s crop season to the close of September. Ghana is expected to miss its revised cocoa purchases target…
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Volkswagen facing multiple US probes
Volkswagen is facing multiple investigations in the United States, including, reports say, a criminal probe from the Department of Justice. They follow an admission by the world’s biggest carmaker that it deceived US regulators in exhaust emissions tests. A DoJ criminal investigation would be serious, as federal authorities can bring charges with severe penalties against…
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Marriott opens its first hotel in Ghana
Marriott International has announced the opening of the Protea Hotel Select Takoradi, its first establishment in Ghana. According to Marriot “this opening under the Protea Hotels brand reinforces our focus on continuing to grow the footprint of Marriott International and that of Protea Hotels in strategic growth areas within Africa. It brings to 19 the…
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BoG justifies new gold export rules
The Bank of Ghana (BoG) insists it was forced to introduce new rules for gold exports due to the consistent under declaration of gold exports from Ghana. [contextly_sidebar id=”oIFDG1Wq5pLqgyqXYMFgoJLjjuIvSOFi”]This come after the Association of Gold Exporters of Ghana (AGEG) threatened to sue the Central Bank for introducing measures to streamline the processes for documentation of…