Author: citibusinessnews
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SIC calms customers after alleged embezzlement
SIC Insurance Company Limited in its first official communication on the current troubles within the company is assuring that its management is taking active steps to resolve them. According to a statement from SIC Insurance dated January 20, its Managing Director Mrs. Doris Awo Nkani has been advised by the board of directors to take…
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Ghanaian shortlisted for 2014 Unilever/Cambridge Institute entrepreneurs awards
A young Ghanaian entrepreneur, Alloysius Attah, has been named amongst seven finalists for 2014 Unilever Sustainable Living Young Entrepreneurs Awards. The finalists were selected from 816 entries received on the Ashoka Changemakers platform hailing from 88 countries. The international awards programme is delivered by Unilever in partnership with the Cambridge Institute for Sustainability Leadership (CISL).…
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Fiscal imbalance in economy must be addressed – Dr Gatsi
Economist, Dr John Gatsi is charging managers of the economy to critically address the fiscal imbalances within the economy in a bid to portray a good outlook for debt sustainability. Dr Gatsi’s comments come in the wake of the International Monetary Fund (IMF) lowering its forecast for global economic growth this year and have called…
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Daily minimum wage now GHC 7
Employers in Ghana will now have to find additional funds to pay workers with the increase in the daily minimum wage. [contextly_sidebar id=”j3ubDYRE4sRYlf3JUcJQjCnYHeBBHfH6″]The National Tripartite Committee has agreed that the National Daily Minimum wage should be increased by 16.7%. This means the daily minimum wage will now be increased from GHC 6 to GHC 7.…
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HFC/Republic Bank insider trading allegations false – SSNIT
The Social Security and National Insurance Trust (SSNIT) has described as a “deliberate misinformation,” allegations of insider trading leveled against it by two Independent Directors of HFC bank, Mureil Edusei and Francis Koranteng. The two directors had earlier alleged that the stance taken by SSNIT on insider trading by the Republic Bank of Trinidad and…
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Debt Collection C’ttee very necessary – ECG to ACEP
The Electricity Company of Ghana (ECG) has the establishment of a committee to oversee the collection of unpaid bills owed by consumers. “It is a clear directive backed by the government for us to do that and this is more efficient than what we used to have – the normal team. It’s not the same,”…
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AWA to begin night flights to Kumasi
Africa World Airlines (AWA) is expected to commence two daily night flights to Kumasi airport effective January 23. The night flights will also allow for same day connections from Europe to Kumasi via Accra. [contextly_sidebar id=”EkvX3guzaNgqgsPyYkpPnMH05OEgxiOq”]The flight’s schedule allows for connections to AWA’s flights to and from Frankfurt, South Africa, Amsterdam, London and Istanbul. This…
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Gov’t likely to review taxes – Terkper
The Finance Minister Seth Terkper has revealed that his outfit will make a case for a possible review of taxes to cabinet soon. This follows complaints by various business associations and Ghanaians that they are being overburdened by government after imposing new taxes including the 17.5% tax. Apart from taxes on petroleum products, some Ghanaians…
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Germany to help Ghana end ‘dumsor’
Germany has pledged massive support for Ghana’s energy and education sector, a way of fostering bilateral ties between the two countries. German Chancellor, Angela Merkel revealed this after holding a closed-door talks with visiting Ghanaian President John Dramani Mahama. According to her, the two key areas were part of the broader issues touched on during…
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Richest 1% to own half of world’s wealth by 2016 – Oxfam
The wealthiest 1% will soon own more than the rest of the world’s population, according to a study by anti-poverty charity Oxfam. The charity’s research shows that the share of the world’s wealth owned by the richest 1% increased from 44% in 2009 to 48% last year. On current trends, Oxfam says it expects the…