Author: citibusinessnews
-
Airtel launches free Facebook service
Telecom operator, Airtel Ghana, has partnered with Facebook to give free basic internet services for education, health, jobs and communication. The service known as Free Facebook on Airtel allows customers with or without airtime to browse for free on Facebook without attracting any charges. Head of Corporate Communications at Airtel Ghana, Donald Gwira told Citi Business News,…
-
Gov’t considers hedging oil prices
The Finance Minister, Seth Terkper has revealed that government has begun discussions over a new hedging policy. In 2014, government announced its intentions to hedge but the move received stiff opposition from energy analysts and some opposition elements. Per the hedging program, crude oil prices will be fixed at a particular figure over a period of time…
-
Domestic Airlines resume flights to Tamale
Domestic airline Operators have been granted the permission to resume flights to the Northern Regional capital of tamale following a significant improvement in the weather condition. The Ghana Civil Aviation Authority (GCAA) in early January warned all domestic airline operators to cancel flights to Tamale due to the severe harmattan season after an Ethiopian cargo aircraft…
-
UBA to expand operations to South Africa and Angola
The Chief Executive Officer of United Bank for Africa Plc Phillips Oduoza has revealed that the bank will soon expand its operations to Angola and South Africa as the economy of Nigeria, its largest market, is hit by falling crude oil prices. The lender which is currently operating in 19 countries on the continent including…
-
Court throws out injunction application against HFC EGM
An Accra High Court presided over by Justice John Ajet-Nasam has thrown out an interlocutory injunction application seeking to stop HFC Bank from organizing an Extraordinary General Meeting (EGM). [contextly_sidebar id=”fA5h0MBQizyTw8g3bVBvPlv2a6nTcTW5″]The court has directed that a meeting be organized next week Tuesday January 27. The Social Security and National Insurance Trust (SSNIT) took a preliminary legal…
-
HFC Bank had no authority to cancel EGM – SSNIT
The Social Security and National Insurance Trust (SSNIT) has said the Managing Director of HFC Bank, Asare Akuffo had no authorization from shareholders to cancel an Extraordinary General Meeting (EGM) it has requisitioned. [contextly_sidebar id=”iPivfvJ4psQ0rnOdqk8CGJ6nGO8dWRog”]HFC bank in a statement signed by its MD, Asare Akuffo on January 16 said the EGM has been cancelled because…
-
Implement new minimum wage or be sanctioned – Minister to employers
The Ministry of Employment and Labour Relations has threatened sanctions against any employer who fails to effectively implement the latest increase in the daily minimum wage. [contextly_sidebar id=”gp8FHxVVOcGRS0c8vygCuK7lkMbcisSE”]This comes after the National Tripartite Committee agreed to increase the minimum wage from 6 cedis to 7 cedis effective January 1. The Ghana Employers’ Association (GEA) has…
-
Business community panicking over recent cyber attacks
There is panic within the business community in Ghana following the cyber attack on several government websites including the Government of Ghana website. On Wednesday, about 10 websites of some government agencies and Ministries were hacked including the official website of the government of Ghana. The other state institutions affected were; the Ghana Navy, Ministries…
-
We’ve not breached regulations on board composition – HFC tells SSNIT
HFC bank has responded to issues of corporate governance on its board disclosed by the Social Security and National Insurance Trust (SSNIT) recently. [contextly_sidebar id=”tv9qKM2dwy6HUoLD3pJ33oJ70IvSrSYh”]SSNIT in its capacity as a shareholder of HFC had earlier raised concerns about the governance structure of the bank and requested the board of HFC on its own to make…
-
Access bank to entrench its market position in 2015
Managing Directors and Top Management members from eight countries within the Access Bank Group converged in Accra for a two-day subsidiaries retreat to position the Bank for further growth within their various markets. Currently ranked amongst the top 20 banks in Africa by assets and capital, Access Bank Plc has expanded its global footprint in…