Author: citibusinessnews
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Vodafone launches new call centre
Vodafone Ghana has officially taken full control of its call centre at high street in Accra after terminating its contract with Teletech Ghana Limited early this month. Vodafone Ghana in 2010 outsourced the call centre to Teletech, a South African company. This was to allow Vodafone concentrate on growing its customer base, improve its services…
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BoG defends ‘loan’ directive
The Bank of Ghana has allayed fears that its new directive on loan write-offs will have a negative impact on the banking industry. The Bank of Ghana last month issued a directive to commercial banks to write-off bad loans that are recorded as a loss within 180 days, if it is not recovered. A number…
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AGI fights BoG over policy rate hike
The Association of Ghana Industries (AGI) has raised concerns over the increase of the Bank of Ghana’s monetary policy rate. The association fears the increase will have a negative impact on lending rates in the country. According to AGI, its findings over the period have revealed that the prime rate has not improved lending to…
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Vodafone to list on Ghana Stock Exchange
Vodafone Ghana has hinted to Citi Business News of its plans to list on the Ghana Stock Exchange (GSE) soon. According to Vodafone Ghana its two main shareholders Vodafone group and the Government of Ghana are studying trends on the GSE to make the move. The first Deputy Governor of the Bank of Ghana (BOG)…
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Don’t compel telcos to list on GSE -Telecom chamber
The Ghana Chamber of Telecommunications says Ghana would be sending a wrong signal to investors if it compels telecom operators to list on the Ghana Stock Exchange (GSE). According to the Chief Executive Officer of the chamber Kwaku Sakyi Addo the telecom industry is capital intensive and this makes it difficult for telecom companies to…
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Ghana’s debt rises
Ghana’s public debt stock increased by about 2.1 billion Ghana cedis from June to August this year. This measures about 3percent increase in the debt level from 63.6billion cedis to 65.7billion cedis. This was revealed by the Bank of Ghana yesterday. In terms of the ratio of the debt to GDP, debt rose to 57.3%…
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BoG raises key rate to 21 percent, bankers shocked
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 200 basis point to 21 percent. This is the highest rate since December, 2003 when the rate was at 21.50 percent. The policy rate which is used by commercial banks to calculate their base rates was at 19…
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Inflation hits 16.9 percent
Ghana’s inflation continued its upward trend hitting 16.9 percent for the month of October from the 16.50 percent recorded in September. Inflation has been on an upward trend since the beginning of this year, staying above government’s 13 percent target. October’s inflation the highest since March 2010, was driven by the transport sector. The non…
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Spio- Garbrah declares war on high interest rates
Trade and Industry Minister Dr Ekow Spio – Garbrah has declared war on the country’s high interest rates. The move seeks to push down the interest rates which are one of the highest in the world. Dr Ekow Spio – Garbrah says the business community and all Ghanaians must join in the war to push…
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Ghana Shippers Authority denies Ebola levy charge reports
The Ghana Shippers Authority has denied reports that a private foreign shipping company, Hapag Lyods has started charging an Ebola levy in the country. This is despite an earlier notice by the company to charge a levy on shipment of goods in the sub region to cover Ebola screening. The countries to be affected included…