Author: citibusinessnews
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Over 1 million data subscribers ditch other telcos for Glo
Glo’s recent shift in focus in providing more data promotions as well as free giveaways is what has accounted for its impressive performance in data subscription for January, 2015. [contextly_sidebar id=”Hjs0AEBnZQVLIJRy38p7aquJcj4TTuYL”]This is according to telecom analyst Fouad Chalabi. Recent statistics released from the regulator of the telecom industry, the National Communications Authority (NCA) showed Glo…
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Coca-Cola sacks 98 workers
Citi Business News can confirm that 98 workers of Coca-Cola Bottling Company have been laid off. [contextly_sidebar id=”ymqh2Lotcck2efP2V0XCpLeCD7qPSJpr”]A further 113 workers will be sent home within the month of April. Coca- Cola began the process to lay off some of its employees this month following the worsening effects of the current power crisis and the…
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Star communications appeals digital migration court ruling
Citi Business News has gathered Chinese firm, Star Communications has filed a suit at the court of appeal against over a recent judgment on the abrogation of its contract by the Ministry of Communication. [contextly_sidebar id=”aieoxSKBUonCR99FXIiMk4I2ZWurojT1″]The Chinese firm is hoping to overturn a judgment by the commercial division of the high court which threw out…
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Pinocchio spreads tentacles in Ghana
An Italian themed ice-cream parlor in Osu, Pinocchio Gelato, has also added another branch in East legon, located between A&C shopping and Star Bites. Pinocchio Gelato has introduced new exciting flavors to their existing ones. The move according to Pinocchio is to provide better and a more exciting services to its wide range of clientele.…
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Unmasking fraudsters in business
The typical organisation loses 5% of its annual revenue to fraud. Applied to the estimated recent gross world product, this figure translates to a potential total fraud loss of more than US$3.7 trillion worldwide, according to the Association of Certified Fraud Examiners’ (ACFE) 2014 report to the nations on occupational fraud and abuse. Put in…
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GNPC owned Sankofa mines defaults in tax payments
Citi Business News has learnt mining company Prestea Sankofa Limited in 2012 and 2013 failed to pay mineral royalties to Ghana estimated at 6.6 million cedis. [contextly_sidebar id=”LgOeozZo2F2UfiehWzqzvF4ps1pchk3f”]This was contained in the Ghana Extractive Industries Transparency Initiative (GHIETI) report on the mining sector for 2012 and 2013. According to the GHIETI report, Prestea Sankofa in…
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ACCESS bank’s profit soars
Access Bank Ghana, recently adjudged Bank of the Year, has recorded another year of strong and impressive performance across key financial indicators in its 2014 performance. [contextly_sidebar id=”DZMVpTShNmL43EiLZ99Xh5cPXfreBNvR”]The Bank’s growth trajectory over the past 6 years has been consistent and continues to reflect its commitment to delivering banking services that are sustainable and relevant to…
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Vivo Energy cedes 8% of its shares to Ghanaian company
Citi Business News has gathered Vivo Energy Ghana is to cede 8 percent stake of the company to a Ghanaian firm CH Group. It is unclear how much CH Group will pay for the shares. The sale of the shares which is subject to a number of formalities that are typical for an acquisition of…
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British Airways frequent flyer accounts hacked
British Airways said on Sunday tens of thousands of its frequent flyer accounts had been hacked and that it had frozen those affected to sort the problem out. The airline said no personal information had been viewed or stolen, but warned customers that some fliers might not be able to temporarily use their air miles.…
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Total sells Nigerian oil field stake
French oil giant Total said Monday that it has sold its stake in a Nigerian oil field to a local company for $569m. [contextly_sidebar id=”HTfWI7ztcTkP9gzYiEzkrd4r6HUHyAcx”]Total’s sale of its share in the onshore Oil Mining Lease 29 to Aiteo Eastern E&P comes after the French group made two similar divestments in Nigeria. The three transactions reached…