Author: citibusinessnews
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Banks blamed for nationwide diesel shortage
The National Petroleum Authority (NPA) has attributed the current shortage of diesel across the country to a hold on stocks by banks providing lines of credit to Bulk Oil Distribution Companies (BDCs). The hold on the products stems from government’s indebtedness of a disputed amount of 1.35billion cedis to the BDCs. Public Relations Officer of…
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$230.2 budgeted to support MMDAs
About US$ 230.2 million has been committed to support District Development Facility(DDF) investments until 2018. The DDF facility was started as part of the government’s efforts to improve the performance of the Metropolitan, Municipal and District Assemblies (MMDAs) in terms of efficiency, transparency and accountability. The overall goal of the DDF is to ensure an…
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Commissioning of Atuabo Gas Plant under threat
Residents of Atuabo and neigbouring communities are threatening to resist the final commissioning of the Atuabo Gas Processing Plant over compensation packages and other health related issues. Residents in Atuabo, Anokyi and Asemda in the Ellembele district, where the gas facility is stationed, are upset that their concerns about the facility have not been addressed.…
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Ghana Gas did not breach its contract with us -Tullow
Lead operator of the Jubilee field, Tullow oil, has dismissed reports that the Ghana Gas Company ditched the jubilee partners in the building of a bypass for the Atuabo gas plant. There are reports that the Ghana Gas Company went contrary to an earlier agreement, where the jubilee partners were to create a bypass from…
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Spare parts dealers jab government
The Abossey-Okai spare parts dealers association has lashed out at government for failing to stop port officials from charging fees in dollars at the container terminals. This comes after the outgoing minister of trade and industry Haruna Iddrissu assured importers that effective July 2, government will stop dollar indexing at the ports. The move was…
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Eliminate fraud from Mobile cash management service -BoG
The Bank of Ghana (BOG) has charged telecom operators to develop systems aimed at eliminating fraud in the growing mobile money business. Various telecom companies have launched campaigns to reduce the close to 70% unbanked population in the country through this payment system. According to the head of the national payment oversight office at the…
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Mixed reaction over latest revised forex rules
The Abossey-Okai Spare Parts Dealers Association has dismissed suggestions that latest revision of the forex rules by the Bank of Ghana (BOG) will have an immediate positive impact on their operations. The spare parts dealers have been on a crusade to force the complete reversal of the forex rules since its introduction in February. The BoG…
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Northern Ghana Investment Forum underway
A four day event dubbed the Northern Ghana Investment Conference is underway in the Northern Regional capital Tamale. As the third edition, the theme is, “Projecting the resource potentials of Northern Ghana for accelerated development: the role of Public-Private Partnership.” The annual conference serves as a catalyst of promoting businesses and investment potentials in Northern…