Author: citibusinessnews
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Negotiations on gas transport commences
Negotiations on whether Ghana will construct an independent pipeline to transport gas to Tema or tie the West African Gas Pipeline Company (WAPCO) and that of Ghana National Gas Company (GNGC) to enable a reverse flow of gas from Aboadze to Tema have commenced. According to the Energy Ministry this is to allow for the…
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Unit heads of public institutions to be sanctioned
Unit heads of the various public institutions who fail to verify and submit a list of employees on their payroll by the 8th day of each month to their Regional Heads will be sanctioned. It’s unclear what sanctions they will face but the latest development is part of moves by government to plug loopholes in…
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BoG approves Fidelity Bank’s acquisition of ProCredit Ghana
The Bank of Ghana has approved the acquisition of ProCredit Ghana by Fidelity Bank. This follows Fidelity Bank’s shareholders’ approval at its extraordinary General Meeting on 23rd September, 2014. Following these approvals, Fidelity Bank has acquired 100% ownership of ProCredit Savings and Loans Company Ltd. (“ProCredit Ghana”) from its current two shareholders ProCredit Holdings and…
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Huawei targets Africa amid cold US reception
Chinese telecoms giant Huawei isn’t wasting time trying to convince American consumers to switch to its devices as the company shifts its focus to Africa. The company has been under pressure in both the US and Australia over accusations that its devices are specifically engineered with digital back doors to allow entry to Chinese hackers.…
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Fidelity Bank honours staff for long service
Fidelity Bank Ghana Limited has honored eighty nine members of staff who have contributed immensely to the continuous growth of the company over the years. In an opening remark that preceded the award ceremony, the Managing Director of the Bank, Mr. Edward Effah, commended employees of the bank for their admirable service over the years.…
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NCA must review rates on international calls-Telcos
Telecom Companies want the National Communications Authority (NCA) to review rates on international calls if the fight against sim box fraud is to be won. According to the telecom operators the 19 cents per minute charge on calls into the country is only serving as an incentive for the fraudsters who engage in the illegal…
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Aliko Dangote wins Forbes Africa person of the year 2014
Nigerian billionaire, Aliko Dangote has been named the Forbes Africa ‘Person of the Year 2014’. Dangote, who’s the richest person in Africa, received the award on Thursday, December 4, 2014 in Nairobi, Kenya. The billionaire was listed among notable nominees like author, Chimamanda Ngozi Adichie and Director-General of Nigeria’s Securities & Exchange Commission, Arunma Oteh…
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High court upholds Republic bank objection
A High Court in Accra, presided over by Mr. Justice Justin Dorgu, on Wednesday 3rd Dcember,2014 upheld an objection by lawyers for Republic Bank to a suit initiated by Messrs Kwasi Asante and Alfred Nii Boi Bortey, two shareholders of HFC Bank. The plaintiffs were seeking orders of the court to restrain Republic Bank from…
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National farmers day: Help us, farmers plead
Some vegetable farmers in Accra have challenged government to provide them with potable water for their farming activities. This follows several criticisms against the farmers for using poor farming methods and polluted water from gutters to water their vegetables. One of the farmers who made the call is Abubakr Seid who has been a vegetable…
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Germany to step up African investments
German Chancellor Angela Merkel has callled on German companies to play a greater role in Africa. “Europe should not miss out on things at this point,” Merkel said at a joint press conference with Ethiopian Prime Minister Hailemariam Desalegn, who also called on companies from Europe’s biggest economy to step up their engagement in Africa.…