Author: citibusinessnews
-
Falling cedi begins to pick up ?
This month marks 6 months since the Bank of Ghana (BoG) first introduced new and some revised foreign exchange rules to prevent the cedi from further depreciation against some major foreign currencies. Citi Business News desk analysis shows that the cedi depreciated by about 27 percent against major trading currencies from the beginning of the year…
-
‘Establish one-stop-shop for export documentation’ – KCL
Kasapreko Company Limited (KCL) is urging government to partner with the private sector to set up what it described as an exporters house that will serve as a one-stop shop for the processing of all export documents. The move, it said, should bring together the relevant units of the Ghana Standards Authority (GSA), Food and…
-
Minister inaugurates Task Force on retail trade
Haruna Iddrisu, outgoing Trade and Industry Minister, has inaugurated an inter-agency task force to work in market places to ensure that no foreigner engages in retail trade. Mr Iddrisu said foreigners engaging in the trade are clear violations of GIPC Act 865. The task force has representatives from the Ministry of Trade and Industry, Ministry…
-
Piracy killing local industries – GEA
The Ghana Employers’ Association (GEA) on Tuesday said many manufacturing companies in Ghana are collapsing due to counterfeiting, piracy and infringement on intellectual property rights. The Association noted that the increase in counterfeiting and piracy pose many risks for businesses in the country and called for a legislative regime to deter people from the act. It said counterfeit…
-
Govt in talks with labour over nationwide strike
Government is currently locked up in a crunch meeting with organized labour in a bid to get labour to rescind its decision to embark on a nationwide strike tomorrow. The Trades Union Congress (TUC) and its allies have announced they will embark on a general strike tomorrow in protest against current economic challenges. Moves to…
-
BoG given 2 weeks to file defense in cedi suit
The Supreme Court has directed the Bank of Ghana (BoG) to submit in fourteen days their statement of case, in the current suit filed against it by a private legal practitioner, Dr John Ephraim Baiden, on the continuous depreciation of the cedi. Dr Ephraim Baiden hurled the BoG to the Supreme Court for failing to…
-
Cal Bank CEO engages up-and-coming entrepreneurs
Frank Adu, CEO of Cal Bank, one of the most innovative banks in Ghana, addressed the community of entrepreneurs at ServLed last Friday. The highly engaging and affable CEO, who has a passion for youth and entrepreneurial development, thrilled the audience with his candor on key lessons learned throughout his career as an executive and…