Author: citibusinessnews

in Business, Top Stories

The South African government has been given 48 hours to stop xenophobic attacks on foreign nationals and their shops or else their companies abroad will be shut down. [contextly_sidebar id=”B10OdHS9lhLemY3fK9NeOlcGlzRuuskI”]An official with the newly elected All Progressive Congress (APC), Tolu Adesanya, confirmed to eNCA that they handed down a memorandum to the South African embassy…

Financial analyst backs IMF Eurobond issue warning

Apr 17, 2015

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in Business, Local Economy, Top Stories

The debt management division of the Ministry of Finance must draw up a plan to arrest the surge in exchange rate volatility before issuing this year’s 1 billion dollar Eurobond. [contextly_sidebar id=”J2dDapoR5zLHHN8s760kYotdt0TA3PDI”]This is according to the head of the finance department of the University of Ghana Business School Dr. Godfred Bokpin. The International Monetary Fund…

Next in line to become HFC MD resigns

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Citi Business News has gathered the Executive Director of Business Development of HFC Bank Charles Ofori-Acquah has resigned. [contextly_sidebar id=”j2KmTGnxpGixdrmUYbD4Lnlf87Eiq7QP”]He is reported to have tendered in his resignation yesterday. It’s unclear what led to his resignation or where he will be heading to but Citi Business News has learnt his resignation will take effect from…

Ghanaian businesses in South Africa shutdown

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Citi Business News has learnt several Ghanaian businesses based in South Africa have been forced to shut down following the latest xenophobic attacks there. [contextly_sidebar id=”RQ20ryKwDQ2UC4LAJweYICwMd1Q3x6hJ”]Some Ghanaian owned businesses have been looted; while others have closed down to avoid being targeted by locals. Five people have so far been killed in what has been described…

Republic bank urges HFC shares holders to take advantage of share offer

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Majority shareholder of HFC bank Republic bank has urged shareholders of HFC to take advantage of its share offer. [contextly_sidebar id=”JKdI8hXyhLxfPLvnBETG3A9ZjEa1osmF”]Republic Bank of Trinidad and Tobago which holds about 42% of shares in HFC is currently offering shareholders of the bank GHS1.60 per share as part of the mandatory takeover codes of the Securities and…

AWA to commence flights to Takoradi in May

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in Business, Top Stories, Transport

Local airline Africa World Airlines (AWA) is to begin flights to Takoradi In May, 2015 with a maiden flight on May day. [contextly_sidebar id=”Q3iycUCFxkjhrb2eLrHpd1pyuFQkzxdH”]The airline will provide two flights a day, three times a week. The flight days will be Mondays, Wednesdays and Fridays. According to Africa World it will offer a quick 25minutes travel…

Inflation hits 16.6 percent in March

Apr 15, 2015

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in Business, Local Economy, News

Inflation for the month of March hit 16.6 percent up from the 16.5percent recorded in February. [contextly_sidebar id=”4w1Wng7mZ2SMWL23dCid8Pzkomst2QUD”]This represents a 0.1percent increase from the February 2015 figure. Central, Ashanti and Volta regions recorded inflation rates higher than the national average of 16.6percent. Greater Accra however recorded the same inflation rate as the national average of…

Terkper leads govt delegation to IMF &World Bank meetings

Apr 15, 2015

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Minister of finance Seth Terkper, is leading a Government delegation to the 2015 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington DC from April 14 to 24. [contextly_sidebar id=”VnFuqOVBiwdnGSeWijUWVhu3mm1G9XF3″]The delegation is made up of officials from the Bank of Ghana including the Governor, the Chairman of the Finance Committee…

Accra named as residential hub for wealthy Africans

Apr 15, 2015

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