Author: citibusinessnews
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Court freezes accounts of first fidelity health insurance
The National Health Insurance Authority (NHIA) has secured a court order to freeze all accounts belonging to First Fidelity Health Insurance, a private mutual health insurance provider. [contextly_sidebar id=”9UCNMxx9Rp8Tbj4TpMGgKDQlNnOVk6Kt”]It follows threats from customers of first fidelity health insurance to hit the courts to retrieve monies belonging to them after the company failed to pay claims…
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Boardroom wrangling cause of Nilla Selormey’s exit at UMB ?
It appears a deepening board room wrangling between some board members of Universal Merchant Bank (UMB) and the former MD of the bank Nilla Selormey led to her departure from the bank. [contextly_sidebar id=”dhcjbzCgPHZow0wuQw229vDoOOkfQmAA”]Nilla Selormey quit from the bank last week. It is unclear what exactly may be the cause of the tussle but Citi…
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Poultry farmers deny receiving EDAIF cash
The Ghana Poultry Farmers Association has denied receiving money from the Export Development and Agricultural Investment Fund (EDAIF). [contextly_sidebar id=”0kIypm9veYZsm8UKFs0Kc6y7G6Js0eCt”]EDIAF was tasked by President John Mahama in 2014 during his state of the nation address to make available 39 million cedis to poultry farmers to boost their operations. During this year’s state of the nation…
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Kwame Addo Kufuor leaves AngloGold
Citi Business News can confirm the Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has resigned. [contextly_sidebar id=”dOSltHsLSxjQp7uYNTHwyNVDoO1VYGAw”]It is unclear where he will be heading to but a statement from the mining giant said Kwame Addo-Kufuor has moved on to pursue other interests. Kwame Addo-Kufuor has been with AngloGold for 18 years.…
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Private businesses call off demo
Private sector operators in Accra who had planned to close their shops and businesses on Wednesday over the Ghana Conformity Assessment Programme and the Advance Shipment information system (ASHI), have called off their demonstration. [contextly_sidebar id=”7qpVZlik6UT3OGpKnyuupzaKks95KEyP”]The demonstration was called off due to an appeal by government to the group as it seeks to enter…
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Gov’t still owes us GHC 1.5billion – BDCs
The Chamber of Bulk Oil Distributors (BDCs) has denied claims by the National Petroleum Authority (NPA) that it has paid all debts owed the Chamber. [contextly_sidebar id=”uJ5rJFasbaYeffDBJTCRPjjRfBDR3PZ0″]The Chief Executive Officer of the Chamber, Senyo Hosi in an interview on the Citi Breakfast Show disclosed that government still owes them about GHC 1.5 billion. “We are…
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Oxford Business Group signs MoU with GIPC
The most recently published report from Oxford Business Group, The Report: Ghana 2014 explores how higher oil production, greater cocoa output and cheaper power look set to attract new investors to Ghana against a challenging economic backdrop. The forthcoming edition will look into the country’s efforts to tackle its deficit and rising debt through fiscal…
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Ghana’s TEN oil project passes halfway stage
Ghana’s second major oil development, the Tullow Oil-led TEN Project successfully passed the 50% overall completion stage last week. The project, which is developing the Tweneboa, Enyenra and Ntomme (TEN) oil fields off the coast of Ghana’s Western Region, is on track for First Oil in mid-2016. The floating production, storage and offloading (FPSO) vessel,…
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Zero arbitrage will reduce SIM box fraud – Maximus Ametorgo
A Technology Entrepreneur says SIM Box fraud can be reduced when telecom operators offer zero arbitrage. [contextly_sidebar id=”03o6cVvw1GYGJSXffhrWW91UHSI9rr87″]This is where subscribers are able to make international calls without paying long distance charges by dialing certain numbers. According to Maximus Ametorgo, such a move will be a deterrent for fraudsters. “They should reduce the difference between…
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SIC embezzlement scandal worrying – Insurers Association
The Ghana Insurers Association (GIA) has expressed worry over the recent case of embezzlement which has rocked SIC. The state insurer guaranteed an Italconstruct project but the construction company failed to pay its lenders, Ivory Finance. [contextly_sidebar id=”H8DvtcM8WdaFbl8QDzHI5mu4cdAqKdCT”]Ivory Finance subsequently secured a court order, empowering them to access SIC’s bank accounts to take out all monies owed them. The Deputy…