Author: citibusinessnews
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Government rubbishes Bawumia’s allegations on Eurobond
Government has rubbished allegations by Dr. Mahamadu Bawumia that the 1 billion dollar Eurobond raised in September this year was used to artificially shore up the cedi from depreciating against major foreign currencies. According to the 2016 Vice Presidential Candidate of the New Patriotic Party(NPP), the money has been used to reduce government’s indebtedness at…
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Vodafone appoints new Corporate Communications Manger
Vodafone Ghana has appointed Ebenezer Amankwah as its new Corporate Communications Manager. His appointment took effect from the 17th of November, 2014. Ebenezer takes over from Gifty Bingley, who now heads Tigo Ghana’s corporate Communications wing. Ebenezer will be in charge of the telecom operator’s external communications as well as senior management profiling. He will…
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Tullow supports National Farmers Day celebrations
Tullow Ghana Limited (TGL) has presented an amount of GH₵35,000.00 to the Ministry of Food and Agriculture as its support for the 30th edition of the National Farmers’ Day celebration. Communications Officer, Kennedy Noonoo, presenting the cheque on behalf of Tullow Ghana explained that this year was the first time the company was sponsoring the…
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Invest in Africa secures US$ 1 million Grant to support SME training program
Invest in Africa (IIA) has signed a US$ 1million African Development Bank (AfDB) grant that will enable it support a unique business skills training programme for Small and Medium sized Enterprises (SMEs) in Ghana. IIA will use the grant provided by the AfDB’s Fund for Private Sector Assistance (FAPA) to implement a Business Linkage Programme…
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MTN restores services to Expresso
Largest telecom operator in the country MTN has restored services to Expresso. MTN cut services to Kasapa on the first of November this year after Expresso failed to honor its financial obligations to MTN. MTN’s CEO Serame Taukobong had earlier told Citi Business News it would not restore the services until Kasapa honors its financial…
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ACEP welcomes GNPC-GNGC merger
Energy think-tank, the African Centre for Energy Policy (ACEP) has welcomed the announcement of the takeover of the Ghana National Gas Company by the Ghana National Petroleum Corporation (GNPC). According to the finance minister Seth Tekper, the move is expected to enhance a more integrated management and continued financing of projects in the oil and…
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High interest rates killing business – PEF
According to the Chief Executive Officer of PEF the high interest rates on loans is greatly affecting their profit margins, making it difficult for them to expand and grow their businesses. The Bank of Ghana (BoG) on 12th November,2014 increased the monetary policy rate by 200 basis point from 19 percent to 21 percent, as…
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Ecobank unveils customer service pledge
Ecobank Ghana has launched a customer service pledge which puts its customers at the centre of the company’s operations. The launch marked the display of the customer service pledge “Excellence In Everything We Do” which is replicated across the country. According to Ecobank Ghana the move step is another bold initiative and commitment of the…
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GNPC to takeover Ghana National Gas Company
Government has announced the Ghana National Petroleum company Company (GNPC) will take over the management and operations of Ghana National Gas Company (GNGC). The Ghana gas takeover is expected to make GNPC a stronger company with enough muscles to compete on the global stage. According to Finance Minister Seth Tekper ‘the consolidation of GNPC and…
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SSNIT to sell shares in HFC bank
Citi Business News has gathered state pension fund manager Social Security and National Insurance Trust (SSNIT) is likely to sell its shares in HFC bank to Republic bank. Citi Business News has learnt negotiations between the two parties on the sale are far advanced. Persons familiar with the matter say the board of HFC bank…