Author: citibusinessnews
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Tigo justifies dismissal of its workers
Telecom operator Tigo has justified its recent redundancy exercise which saw scores of its workers sent home. Citi Business News has gathered the dismissals which commenced a few weeks back affected the sales and finance departments of the company the most. It’s unclear exactly how many workers have been sacked but a letter from management…
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EPA defends permit granted Tullow Oil to flare gas
The Environmental Protection Agency (EPA) has defended the permit granted Tullow Oil to flare gas on the jubilee field. The move to flare gas has been under discussion for some time now because government has been reluctant to breach its ‘no flaring’ policy as it considered other options. Any move to approve flaring had also…
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Massive backlash from business community over new VAT charges
The Importers and Exporters Association of Ghana is demanding a complete halt in the implementation of the 17.5 percent Value Added Tax (VAT) charge on financial services from next month. According to the association the extra tax will cripple businesses and lead to massive job cuts. Some of the 32 fee-based services to be affected…
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Banks spring up in Tamale
Financial institutions are rapidly springing up in the Northern Regional capital Tamale. For a small city like Tamale which lacks manufacturing industries and multinational companies, there are about 18 licensed banks operating within the enclave of the business capital city. These include Ghana Commercial Bank, Agric Development Bank, National Investment, Barclays Bank, Standard Chartered Bank,…
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Bank customers angry over VAT charges in financial sector
Some bank customers have expressed disgust over the latest list of financial services that would attract the new 17.5% VAT charge. The list released by the Ghana Revenue Authority (GRA) last Friday affects nearly all bank charges. The financial services, which hitherto had been exempted from VAT, will now from the first of July this…
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NCA jabs vodafone over compensation plan
Citi Business News has learnt the National Communications Authority (NCA) did not sanction moves by Vodafone Ghana to compensate subscribers following last week Tuesday’s nationwide outage of its network. Subscribers of Vodafone last week Friday started receiving compensation based on the amount of airtime they spent in a day. Some subscribers of Vodafone have so…
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Cultivation of sunflowers will solve Ghana’s energy crisis – Analyst
Some stakeholders are making a strong case for Ghana to go into the mass production of sunflower to produce biofuel to solve the country’s current energy crises. Agronomist and Biofuel Consultant, Issah Sulemana indicates this may come handy. Government has already indicated it is seeking for alternative sources of renewable energy. Issah Sulemana speaking to…