Author: citibusinessnews
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Mining companies to put on hold layoffs
Citi Business News has learnt that mining companies in the country may not lay off workers despite the ongoing power crisis and the fall in the gold price on the world market. [contextly_sidebar id=”hudw6HvBLgdhar6Q6W5F4zaIi3pRXCcl”]According to the Ghana Chamber of Mines most mining companies in the country have finished with their rationalization exercise, and therefore may…
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MTN leads in voice subscription in February
MTN beat competition to emerge as the fastest growing Telco in February 2015 in voice subscription. [contextly_sidebar id=”2RLH1M9EY6XFVjwrEcsTmiSUgR2dqoWM”]It gained 173,400 new subscribers, the highest for February 2015. This is according to the market share report from the National Communication Authority (NCA) for the month of February 2015. MTN’s voice subscriber base now stands at a…
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Banks to acquire shares in GHIPPS
Citi Business News has gathered that the Bank of Ghana has approved for commercial banks to acquire shares in the Ghana Interbank Payment and Settlement Systems (GHIPPS). [contextly_sidebar id=”RkD98YQFX7cYToGdeOVCmdLoQuFC7M4X”]This according to GHIPSS will allow for greater collaboration and efficiency with banks. The Ghana Interbank Payment and Settlement Systems Limited is a wholly owned subsidiary of…
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DKM diamond microfinance customers drag BoG to court
Citi Business News has gathered some customers of DKM diamond microfinance have hurled the bank of Ghana (BoG) to court to force it to release monies belonging to them. [contextly_sidebar id=”AstAa85qrS2q7B908234Inda3yTbDc6K”]The Bank of Ghana on Monday May 11th, suspended the operations of DKM Diamond Microfinance Company Limited for violating the banking Act. According to the…
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Wapic Insurance appoints new MD
Wapic Insurance (Ghana) has appointed Adedayo Arowojolu as the new Managing Director of the company. His appointment took effect on February 27, 2015. Adedayo’s appointment follows the redeployment of Razzaq Abiodun who returned to a more senior role in the Group Office on February 20, 2015. Mr. Arowojolu is an Associate member of the Chartered…
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TNS & Kantar Media partner GeoPoll for mobile research
Global research consultancy TNS has announced an exclusive and wide-reaching strategic partnership with GeoPoll, the world’s largest mobile survey platform. Under the multi-year agreement, TNS and sister company, Kantar Media, will join forces with GeoPoll to deploy a new range of research products and services intended to deepen and improve market research in Africa, including:…
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Govt debt inches up to 88.2 billion in 3 months
Government borrowed 12.1 billion cedis in the first three months of 2015. [contextly_sidebar id=”DtLCVgL1IYPJOnOTQ5xHqAlxfQ4YNhrG”]According to figures from the Bank of Ghana, the country’s current total public sector debt stock stood at 88.2 billion cedis at the end of March 2015, representing 65.3 percent of GDP. There is already a huge debate about how government’s continuous…
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HFC shareholders give Republic bank majority ownership
Republic Bank has announced that it has increased its shareholding in HFC Bank to 57.11 percent following a successful offer to the shareholders of HFC bank. [contextly_sidebar id=”EDEAACfKfVVqigIlYXUAvDri9Uf8atzt”]This gives Republic Bank majority ownership and makes HFC Bank the fifth banking subsidiary within the Republic Bank Group. Managing Director of Republic Bank Limited, David Dulal-Whiteway, thanked…
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Ghanaian appointed new CEO of MTN Ghana
Mobile giant MTN has appointed Ebenezer Asante as the new CEO of MTN Ghana. [contextly_sidebar id=”Qt5dauhvJ7CHVJo07A4Vd4mFT4kctX6n”]Prior to his appointment Ebenezer Asante was the CEO of MTN Rwanda. Ebenezer’s appointment follows the resignation of the former CEO of MTN Ghana Serame Taukobong. This is the first time a Ghanaian has been put at the helm of…
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MTN Ghana CEO resigns
CEO of MTN Ghana Serame Taukobong has resigned. [contextly_sidebar id=”MM2q4T05eLLk5FYh8jALSUp95ovHLOkJ”]Citi Business News has gathered Serame Taukobong has also resigned from the MTN group. Sources familiar with the matter say Serame will now be heading to General Electric where he will be taking up a commercial role at group level for Africa. Serame Taukobong was appointed…