Author: citibusinessnews
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NPRA issues ultimatum to employers
The National Pensions Regulatory Authority (NPRA) has directed employers to by the close of this year register their employees under the new national pension scheme or face their wrath. According to the authority, some employers have refused to register their employees under the scheme even though it is an offence not to do so. According…
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First money transfer company to list on GSE
The Ghana Stock Exchange (GSE) could see its first listing of a money transfer company as well as a construction firm soon. Citi Business News has learnt money transfer company, Samba and ASN Construction Company both under the ASN Holding Group could list on the bourse next year. The holdings company however indicates it has…
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Oteng Gyasi resigns as ECG board chair
The board chairman of the Electricity Company of Ghana (ECG), Tony Oteng Gyasi has resigned from his position. Citi Business News sources within government confirmed that Oteng Gyasi, who is also the MD of Tropical Cables and Conductors Limited tended in his resignation letter week but the President is yet to respond to his letter. Our…
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National security & lands commission investigate airport land encroachers
National security and the lands commission are currently investigating the growing number of encroachers on lands belonging to the Ghana Airport Company Limited . Several high rise buildings are developing around the Kotoka International Airport (KIA), posing a security threat to operations of the facility. There are also concerns about the growing residential areas developing…
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GRA locks up Africa Automobile for nonpayment of tax
The Ghana Revenue Authority (GRA) has locked up the offices of Africa Automobile company dealers in Hyundai cars for non-payment of taxes. The move follows the company’s indebtedness to the revenue authority to the tune of 6 million cedis of value added tax. The Ghana Revenue Authority indicates this amount accrued over two years. The…
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ExpressPay signs M.anifest as brand ambassador
Ghanaian Rapper M.anifest has signed with eCommerce company expressPay as its brand ambassador. ExpressPay is the most secure and convenient way of paying bills online and on mobile phones in Ghana. With highly-rated security features comparable to credit card companies like Mastercard and Visa, expressPay is a click away from making the lives of many…
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Ebola: Economic Impact Could Be “Catastrophic” – World Bank
A World Bank Group analysis of the Ebola epidemic released yesterday finds that if the virus continues to surge in the three worst-affected countries – Guinea, Liberia, and Sierra Leone – its economic impact could grow eight-fold, dealing a potentially catastrophic blow to the already fragile states. However, the analysis finds that economic costs can…
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Ghana’s debt hits 63.6 billion cedis
Ghana’s public debt increased by about GH¢5.2 billion from April to June this year. This measures about 9 percent increase in the debt level from GH¢58.4billion to GH¢63.6billion. This was revealed by the Bank of Ghana at its Monetary Policy Committee press conference yesterday where it announced it had maintained the policy rate at 19%.…
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Government to reconsider diaspora bonds
Finance minister, Seth Tekper has hinted to Citi Business News that government will reconsider a move to issue diaspora bonds soon. A diaspora bond is issued at nationals who have moved outside their countries of origin. The plan for a diaspora bond has been on the table for some time but for some reasons has…
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LG launches G3 smartphone in Ghana
LG Electronics(LG), a global leader in Mobile Communications has introduced into the Ghanaian market its eagerly anticipated G3 smartphone, the successor to the company’s well-received LG G2. The device received Red Dot “Best of the Best” Awards for Smart Keyboard, Knock Code and the Graphic User Interface(GUI). Developed under the Simple is the New Smart…