Citi Business News

Author: citibusinessnews

  • All banks on board this year’s banking awards

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    Citi Business News has learnt that all 28 universal banks in Ghana will for the first time, be available for selection in the 13th edition of the Ghana banking awards. Some banks in previous years were not involved in the annual event following complications with the criteria for selection. The awards scheme based on both…

  • MPC increases policy rate to 19%

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    The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate from 18 percent to 19 percent. The Committee attributed the increase to domestic fiscal pressures such as exchange rate fluctuations, price volatility and weakening of some global economies resulting in limited capital inflow. The Policy rate indicates the rate at…

  • Ghana, others win renewable energy funding

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    Nine African countries, including Ghana, have been chosen to receive funding and operational support from the Climate Investment Fund’s (CIF) Scaling-up Renewable Energy in Low Income Countries Programme (SREP). In their final decision, the SREP sub-committee agreed that it will provide up to US$300,000 for each country to undertake development of an SREP investment plan.…

  • Binatone reward loyal customers

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    A number of Ghanaians have been rewarded by Binatone, one of the world’s leading consumer appliances manufacturer for their loyalty to the brand. The customers too part in Binatone’s  football trivia promotion. The football trivia, which is a worldwide promotion, allowed customers especially those who love football to predict scores for their favorite teams at…

  • Inflation rate for June hits 15 percent

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    Inflation rate for the month of June 2014 is 15.0 percent, up by 0.2 percent from the 14.8 percent recorded in May. The rate of inflation for June is the percentage change in the Consumer Price Index (CPI). The year-on-year non-food inflation rate for June 2014 was 20.3 percent compared to the 20 percent recorded…

  • Zenith Hygiene Systems begins operations in Ghana

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    Zenith Hygiene Systems (Ghana) Limited, a subsidiary of the Zenith Hygiene Group Plc in the UK has launched operations in Ghana. The company, which is the largest privately-owned independent chemical company in the UK, is highly revered in Europe for their tailor-made hygiene solutions and enters Ghana with over 700 top-notch varying chemical products. When…

  • NCA lifts ban on Vodafone

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    The National Communications Authority (NCA) has lifted the ban it imposed on Vodafone Ghana following the nationwide blackout of its network on June 6. This comes 23 days before the end of the original sanction period initially issued by the NCA. The sanctions that were imposed include the acquisition of new subscribers, sale of New…

  • Investigate pension alliance trust- IMANI

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    Policy think tank Imani Ghana has called on organized labour to demand thorough investigations are conducted into attempts to impose Pension’s Alliance Trust as managers of their pension funds. This comes 7 days before organized labour’s deadline to government to suspend the plan or they embark on a strike on July 14. Workers under the…

  • GCCI sacks 3 of its regional executives

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    The Ghana Chamber of Commerce and Industry (GCCI) has dismissed three regional executives of the Sekondi/Takoradi Chamber of Commerce and Industry (STCCI). They include the Chairman, Ato Van-Ess, the Vice Chairman, Cadmond Dadzie and Treasurer, Mathew Ade. This comes after STCCI announced it had seceded from the National Chamber following allegations of embezzlement against the…

  • Subscribers shun 4 telcos

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    Four out of the six mobile telecommunication companies in Ghana could not record any additional subscribers in the month of April. This is according to the latest report by the National Communications Authority (NCA) on voice market share of the Telcos. Four telcos in all lost an estimated 53,000 subscribers. The telcos are Tigo, Expresso,…