Author: citibusinessnews
-
Danish Embassy chases Apex bank over DANIDA cash
Citi Business News has gathered that the Danish Embassy in Ghana has written to the ARB Apex Bank through its lawyers Kimathi and Partners demanding some 430,000 Ghana Cedis to be refunded and paid into the DANIDA Training Seed Fund Bank Account with Apex bank. [contextly_sidebar id=”coAg1driTS6zZkCTky5f7Rl8TpIYDbH8″]This comes after the ARB Apex Bank according to…
-
Bank of Ghana denies issuing new denominations
The Bank of Ghana has denied issuing new denominations. [contextly_sidebar id=”RXwIpNV0pub2j72C37W51YEW9myvnUY6″]According to the central bank’s spokesperson Esi Hammond, ‘we do not intend to issue and we have not issued any new denominations. They are not true and Bank of Ghana is not issuing any new denomination, so everyone should take note we are not doing…
-
Chief Justice petitioned over cases between Celltel & Kludjeson International
Citi Business News has gathered that the Chief Justice has been petitioned over the delay in disposing of cases involving Celltel, now operating as Expresso and Kludjeson International. [contextly_sidebar id=”6TCccimOP8LhDGSjN4A9L4699NA1O9HH”]Currently there are about 9 cases involving Celltel, now operating as Expresso and Kludjeson International in various courts especially the commercial division. It is not clear…
-
Intravenous Infusions suspends IPO
Pharmaceutical firm, Intravenous Infusions Limited (IIL) has temporally suspended its Initial Public Offer (IPO). [contextly_sidebar id=”5zLaw9JACM0UKhjoZz3pyb8Vf1JQFJE5″]The suspension of the IPO follows the inability of its sponsoring broker and lead manager, First Atlantic Brokers Limited (FABL) to fulfill the underwriting obligation of providing the payment guarantee for the minimum amount to be raised to make the…
-
Govt to withdraw subventions to DVLA,EPA & Energy commission this year
Three government agencies Driver and Vehicle Licensing Authority (DVLA), Environmental Protection Agency (EPA) and the Energy commission will this year be weaned off government’s financial assistance. [contextly_sidebar id=”3YF7YTjEmlqeyEwn3FzLgBdCQPgJ1rIl”]The three are the first batch of agencies affected by a new government policy introduced in 2014 to wean some of its agencies from government funding. The development…
-
Gov’t lowers 2015 oil revenue target by 64%
The new projection for Ghana’s oil revenue has been pegged at 1.5 billion dollars after an initial figure of 4.2 billion dollars stated in the 2015 budget. [contextly_sidebar id=”OGoDPBkXSr5vLAtrdVuXQYTpYb9LK3ej”]The new figure shows a 64% drop from the earlier projections. Government was forced to review its oil revenue projections following the drop in the prices…
-
Gov’t falls on Stabilization Fund to support budget
Government has confirmed plans to withdraw 19.488 million cedis from the Ghana stabilization fund following the drastic fall in Ghana’s projected oil revenue due to the consistent decline in price of crude oil on the world market. [contextly_sidebar id=”weVdNRvYekMCi2eHP44aBHvguWmLhwcF”]”An amount of 4.872 million cedis will be drawn from the Ghana Stablization Fund on a quarterly…
-
6 Tips for Success in Starting a Business
Although no one can guarantee that your business will be a success, if you work hard, price your products and/or services right, and keep your customers satisfied, you stand a good chance of building a successful company. The results you get out of your business are a direct result of the work you put into…
-
MTN South Africa staff strike over bonus pay
Customer service consultants at Africa’s biggest mobile network MTN briefly took their grievances about bonus pay to the streets on Wednesday in what has been called an unprotected strike. [contextly_sidebar id=”zQDZq4yqyzCs1AwP3CMg6tF4vVeB1q1C”]Reports indicate that about 250 MTN customer service consultants protested outside the company’s Johannesburg headquarters on Wednesday. The staff were expressing their unhappiness over a…
-
Kwame Addo-Kufuor moves to Newmont
Citi Business News can confirm that the former Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has moved to another mining firm, Newmont. [contextly_sidebar id=”2MqYjCGgfB9QLR5Hdp2oMKRssXL8VkF0″]According to a statement from Newmont, Kwame Addo – Kufuor has been appointed as the Regional Chief Financial Officer for Newmont Africa. ‘Newmont Africa has announced the appointment…