Author: citibusinessnews
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Local airlines react to likely Ebola flight ban
Domestic Airlines operating in the country says banning of flights to and from Ebola infected countries would not have any significant impact on the aviation industry in Ghana. The Deputy Minister of Transport Joyce Bawa Mogtari earlier told Citi Business News that government is likely to ban flights from affected countries as part of drastic…
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Forex reserves overstretched – Deputy BoG Governor
Second Deputy Governor of the Bank of Ghana, Dr. Nashiru Issahaku has admitted that the Central Bank’s foreign exchange reserve is overstretched. He regretted that the nation’s imports supersedes its export potential, hence the pressure on the Central Bank’s foreign exchange reserves. According to him, the Central Bank’s major challenge is to arrest inflation to…
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Business census not for taxation – Gov’t Statistician
The Government Statistician, Dr Philomena Nyarko, has appealed to business operators not to be worried by the upcoming Integrated Business Survey (IBES) because it is not being conducted for purposes of taxation. She said the survey was only an economic census to be conducted in all economic units of the Ghanaian economy to provide a…
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NCA to introduce common codes for all telcos
All mobile phone users regardless of the network will from 8th September 2014, use a common short code to check, top up credit as well as access call centres. This follows the National Communications Authority’s (NCA) move to harmonize all short codes for general customer services across all networks. The National Communications Authority however indicates…
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Govt settles on PWC as advisors for national airline
Government has settled on audit and professional services firm PricewaterhouseCoopers (PWC) as transaction advisors for the new national airline for Ghana. Citi Business News on July 15 reported that the World Bank was expected to give a no objection to the selection of PWC before the deal would be sealed. The Ministry of Transport, earlier…
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Surfline, first 4G LTE launched in Ghana
Surfline has officially launched Ghana’s first 4G LTE network in Accra and Tema, giving both consumers and business internet speeds that are ten times faster than 3G services currently on offer. Marking the historic occasion, Surfline – the only telecoms company owned 100% by Ghanaians – announced a tasty, limited launch offer: free devices and…
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Petroleum hedging starts September 1
Government will from September 1, 2014 introduce quarterly hedging as a measure to avoid huge debts accumulating from the subsidising price differentials on petroleum products. It will also protect Ghanaians from a price hike during its review of the prices of petroleum products. Hence, although there would be a price review of petroleum products on September…
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Mahama to break grounds for sugar factory
President John Dramani Mahama would on Tuesday break the grounds for commencement of work on the Komenda Sugar Factory in the Komenda Edna Eguafo Abirem Municipal in the Central Region to begin. The sugar factory which was established under the esrtwhile President Kwame Nkrumah’s administration became defunct in the 1980s due to inadequate funding and…
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BoG bars Micro Finance Companies from name changes
The Bank of Ghana has moved to prevent microfinance companies in operation, from changing their names to cover their tracks after failing to manage depositor’s funds prudently. The Central Bank said the move follows its observation that some of the companies change their names in an attempt to hide liquidity challenges and seek a fresh…