Author: citibusinessnews
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YES begins receiving business proposals
The Youth Enterprise Support (YES) Secretariat sys it hopes to receive between 5,000 to10, 000 applications from young entrepreneurs across the country. The YES Secretariat began receiving business plans, ideas and proposals from young and prospective entrepreneurs on Monday. According to the Secretariat, interested persons who meet the published eligibility criteria have from now till…
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Fidelity Bank acquires ProCredit
Fidelity bank has fully acquired ProCredit savings and loans company. The deal which is yet to be approved by the bank of Ghana and shareholders of the bank will see Fidelity bank purchasing all shares held by ProCredit’s two shareholders PCH and DOEN Foundation of Netherlands. Citi Business News has gathered the process for approval…
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Fuel shortage hits Accra
Citi Business News can confirm that there is an acute shortage of petrol and diesel in some parts of Accra. A visit to some pump stations in Adabraka and the central business district of Accra revealed some stations do not have either petrol or diesel. According to the manageress of So Energy station in Adabraka…
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Phone users banned from acquiring more than 10 sim cards
Phone users per a new directive from the Communications Ministry will soon not be allowed to own more than 10 sim cards. Citi Business News has gathered the latest move is part of efforts by government to curb sim box fraud. It is unclear when the new directive will take effect but Citi Business News…
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Delta suspends operations to Liberia
Delta Airlines has temporally suspended operations to Liberia. The suspension took effect from 31st August,2014. The move according to the airline is due to weak passenger demand. The airline has dismissed assertions that the move is due to the outbreak of Ebola. Health ministers from Ecowas last week appealed to airlines which have pulled out…
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Communications minister vows to chase out simbox fraudsters
The Minister of Communications Dr Edward K. Omane Boamah has vowed to smoke out all sim box fraudsters in the country. According to the National Communications Authority (NCA) sim box fraud takes place when individuals or organizations illegally terminate a voice call which is the preserve of registered licensed network operators, usually at lower cost…
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Retailers vow to resist bottled water tax
Some retailers of bottled water have threatened to resist any moves by government to introduce new taxes on bottled water. Government has announced it may introduce taxes on bottled water as part of moves to increase revenue as well as widen the country’s tax net. Producers of both bottled water and sachet water in the…
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IMF bailout team storms Ghana this week
A team from the International Monetary Fund (IMF) will hit the shores of Ghana this week to discuss how the country’s ailing economy can be salvaged. The team will engage government in negotiations and then fashion out a programme to suit the country’s needs as well as discuss policy alternatives with the Bank of Ghana.…
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Golden Tulip Workers slam Seth Terkper
Workers of Golden Tulip hotel have slammed the minister of finance Seth Terkper for turning a blind eye on allegations of embezzlement being leveled against managers of the hotel. The workers have twice petitioned President John Mahama to intervene and address the growing tension in the hotel between workers and management. The workers are accusing…
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Meridian Marshall to list on GAX
Barring any last minute hitches, the Ghana Alternative Market (GAX) will see its first listing by the end of this year. Director-General of the Securities and Exchange Commission, Adu Anane Antwi tells Citi Business news ‘GAX will see its first listing by the beginning of the last quarter of this year’. This follows the submission…