Author: citibusinessnews
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Mahama to open job summit today
Government will today host a stakeholder’s summit in Accra with the aim to devise strategies to address the growing unemployment issues in the country. The summit, which is held under the auspices of the Ministry of Employment and Labour Relations is expected to bring together 500 participants from both the informal and formal sectors to…
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Tamale flights suspended over severe weather conditions
Flights to Tamale have been suspended by local airlines due to severe weather conditionsin the area. [contextly_sidebar id=”1oilvsJD3GvSWYYHMmyGoFfA2pxigVQU”]The development which started yesterday April, 14, 2015 led to the cancellation of most flights to Tamale. The Ghana Meteorological Agency (GMET) is reported to be providing hourly reports to domestic airliners cautioning them not to fly to…
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Tigo opens 46th Customer Experience Centre in Abeka Lapaz
Tigo Ghana has opened a new Customer Experience Centre in Abeka Lapaz, as part of the company’s ongoing nationwide retail expansion. The Centre will not only cater to the needs of customers within the primary catchment area of Abeka Lapaz, but also those from Achimota, Abelemkpe and surrounding areas. According to the Head of Customer…
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Meridian Marshalls to launch IPO next week
The Ghana Alternative Market (GAX) Ghana Stock Exchange’s is set to see a new listing any time soon as Meridian-Marshalls Holdings; owners of Meridian Pre-University and Marshalls College is set to launch its Initial Public Offer (IPO) on the GAX. [contextly_sidebar id=”zAcAsfNYynXKcBiaKbvWk8v5DA7o5k77″]The IPO, which will be launched on April 22, 2015, is expected to commence…
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CDH Balanced Fund launched
CDH Asset Management a subsidiary of the CDH Financial Holdings has launched a new investment product, the CDH Balanced Fund. The Fund is initially offering five million (5,000,000) shares to the public at GH¢0.10 per share in an offer that runs between April 13, 2015 and April 30, 2015. The offer period is from 13th…
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Govt denies $1 billion dollar loan talks with Bank of America
The Ministry of Finance has denied reports that government is seeking to borrow $1billion dollars from Bank of America (BOA). [contextly_sidebar id=”XPZoRF7euBIgZc3nYtB5l1gXCagpAlWq”]News of Ghana’s move to borrow $1 billion dollars from the bank broke last week, a week after Ghana gained approval from the IMF on a bailout program. The cash from Bank of America…
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IMF cash to hit BoG account tomorrow
The first tranche of cash from the International Monetary Fund (IMF), meant to shore up the Bank of Ghana (BoG)’s declining reserves and help stabilize the cedi, is to hit the accounts of the central bank tomorrow, April, 14, 2015, Citi Business News has learnt. [contextly_sidebar id=”UPwmfOo0sgTw1Qz1efU2IV3IadyRQAGh”]According to the Ministry of Finance all is set…
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COCOBOD yet to take decision on fate of shares in HFC bank
COCOBOD has told Citi Business News it is yet to take a decision on whether it will sell its shares in HFC Bank. [contextly_sidebar id=”mvEwZFJIitlMqXI9hKRPGtoujzKMD4Xt”]COCOBOD currently has 5.57 percent shares in HFC bank. Cocobod’s assertions comes at a time when majority shareholder in HFC Bank, Republic bank has been given the green light by the…
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Govt using state enterprises for “proxy borrowing “
The Institute of Fiscal Studies (IFS) has rubbished government’s new policy to allow state agencies to borrow based on the strength of their books describing it as ‘proxy borrowing’ by government. [contextly_sidebar id=”R8nGSwirIAmYuaPz7L1Y1HVsKB2aOdVh”]This comes a few days after the Ghana National Petroleum Corporation (GNPC) announced that it will finalize a deal to borrow close to…
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Fidelity bank now fourth biggest bank in assets
Indigenous bank Fidelity bank saw its profits soar significantly in 2014. The bank is one of few local banks in the country tipped to soon lead the pack be it local or foreign in performance. [contextly_sidebar id=”c8XoNxggUjptmmPXU3eUTISMb6dAhRfB”]The bank last year saw its profits almost double while the size of its non- performing loans portfolio fell…