Author: citibusinessnews
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Ghana Commodities Exchange launched
President John Mahama has announced that government has approved a consolidated security industry scheme, to ensure the legal framework that would allow Security and Exchanges Commission to regulate commodity exchanges in the country. He said the Ministry of Trade and Industry has disbursed funding ahead of all private sector investments to begin designing the project…
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I don’t need President’s permission to promise contracts – Spio Gabrah
In a defiant response, Trade and Industry Minister Ekow Spio Garbrah has stated he does not need a Presidential or Cabinet permission to write a letter promising a government contract to DICs that will help the Mahama administration pay a GHc197 million judgement debt incurred by the erstwhile Mills government against the state. [contextly_sidebar id=”DU8u560K8ACgqB4yOJuTkQuemunIItqn”]“I…
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Government owes BDCs GHc3.4 billion
Government owes the Bulk Oil Distribution Companies (BDCs) over GHC 3.4 billion in under recoveries as of June 18, 2015, the Ghana Chamber of Bulk Oil Distributors (CBOD) has said. [contextly_sidebar id=”X4tgBzv8HEFtWDjPOq0Cuu3kLiabRNwp”]The under recoveries mostly came about due to the exchange rate, under recovery loss and price under recovery losses. Speaking at a forum on…
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adb postpones IPO launch again
Agricultural Development Bank (adb) has postponed the launch of its Initial Public Offer (IPO) on the Ghana Stock Exchange which was slated for this morning June 23rd,2015. [contextly_sidebar id=”gKBNYeBUGBhksHyBbtixumnOasK7RRuO”]Early this year the bank was forced to put the launch on hold after government who is majority shareholder of the bank called for a temporary suspension…
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Cedi’s depreciation pushes cement prices up
Citi Business News can confirm all three local cement producers in Ghana have increased the prices of their products on the market. [contextly_sidebar id=”mEc2iMFoQ4CwLT9fMzMRWN6NOBAB7sXl”]A 50 kilogram bag of Dangote Cement for example has been increased by 2 cedis, 6 pesewas effective today June 22nd, 2015. According to the sales and marketing manager of Dangote Cement…