Author: citibusinessnews
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Electricity tariff goes up by 4.22%
The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs for all non-lifeline residential customers, affecting the average end-user. This decision comes after a review carried out for the third quarter of 2023 by the PURC. According to the PURC, the primary objective behind the tariff adjustment is to ensure…
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BoG new head office 41% completed; to be finished in Sept. 2024
The new headquarters of the Bank of Ghana (BoG) is expected to be completed in September 2024. The physical progress on the 13-storey facility currently stands at 41%. This was disclosed in a document issued by the Bank of Ghana in Accra on August 21. The Minority in Parliament and other Civil Society Organisations have…
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![What to know about new BoG Head Office [Full details]](https://citibusinessnews.com/wp-content/uploads/2023/08/BoG-new-building.jpg)
What to know about new BoG Head Office [Full details]
The Bank of Ghana has defended reasons to move from its current location in the Central Business District of Accra to Ridge citing threats of earthquakes. It said a structural integrity test conducted on its building reveal that, the edifice was not fit for purpose. There has been growing pressure on the Central Bank to…
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No procurement law breached in $250m new HQ project – BOG insists
The Governor of the Bank of Ghana, Dr. Ernest Addison, has emphatically stated that the institution did not breach any procurement laws in its pursuit of building a new headquarters for the Central Bank. The response from the BoG comes in the wake of concerns raised by Samuel Okudzeto Ablakwa, the Member of Parliament (MP)…
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GH¢60.8bn loss won’t impact our operations – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has emphatically stated that the institution did not breach any procurement laws in its pursuit of building a new headquarters for the Central Bank. The response from the BoG comes in the wake of concerns raised by Samuel Okudzeto Ablakwa, the Member of Parliament (MP)…
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Local bread producers worried over influx of ‘foreign’ bakers
The bread industry in Ghana, a staple in the diets of the populace, has long been dominated by local producers. However, recent attention has turned to a new sprawling factory situated along the Accra-Tema motorway. This development has raised concerns within the community, as fears grow that large-scale production might lead to the sidelining of…
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Organised Labour to demand increment in 2024 salaries instead of COLA
Organized Labour has said that it will reject the government’s plan to introduce a Cost of Living Allowance (COLA) in next year’s salaries negotiations instead of increasing the salaries of public sector workers. COLA is an allowance given to government employees as short-term relief when immediate salary increments cannot be made. Organized Labour says that…
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GIPC law 2013 has outlived its usefulness, needs review – Ahomka-Lindsay
Former Deputy Minister of Trade and Industry Robert Ahomka-Lindsay has suggested that the Ghana Investment Promotion Centre Law 2013 be reviewed, arguing that it has outlived its usefulness. The law [Act 271] bars foreigners from engaging in some trade or enterprises reserved for Ghanaians. The Ghana Statistical Service in its inaugural Trade Vulnerability Report said…
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GSS to conduct census of formal and informal businesses
To enhance decision-making for businesses to thrive, the Ghana Statistical Service (GSS) has announced that it will conduct a comprehensive census of informal and formal businesses across the country. The exercise according to the Service will be conducted in two phases with the initial one to be held in mid-October 2023 and the second phase…
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Fuel price goes up; petrol selling at GHS13.50 a litre; diesel at GHS 13.90
Consumers of petroleum products have begun paying more to fill their tanks as of today, August 16, because several Oil Marketing Companies have marginally increased prices. Per Citi Business News checks, market leader Goil has raised petrol prices to 13.50 and diesel price to 13.90 per litre. A litre of petrol formerly sold for 12.95gh…