Author: citibusinessnews
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BOST solicits private sector support to position itself financially
Managing Director of Bulk Oil Storage Transport, BOST, Edwin Provincal, says the company has secured some oil reserves and support from the private sector to turn around the fortunes of the company. ““We took the opportunity to engage about the past, the present and also the plans we have for the future. They now know…
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Coronavirus crash wipes US$5 trillion off world stocks
Coronavirus panic sent world share markets crashing again on Friday, compounding their worst week since the 2008 global financial crisis and bringing the wipeout in value terms to $5 trillion. The rout showed no signs of slowing as Europe’s main markets slumped 2-3 percent early on and the ongoing dive for safety sent yields on…
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Petroleum Workers Union urges gov’t to stop Kosmos, Tullow Ghana’s layoffs
The General Transport, Petroleum and Chemical Workers’ Union of the Ghana Trades Union Congress (TUC), has called on the government and other stakeholders to kick against Tullow Ghana and Kosmos Energy’s plans to layoff Ghanaian workers over operational challenges. The group in a statement issued on Thursday, February 27, said the two companies are only…
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Untapped tourism potentials: Duasidan Monkey Sanctuary at Dormaa neglected
Tourism remains a key contributor to Ghana’s economic growth, although there’s still a huge potential yet to be tapped across the country. Imagine a community where residents live freely with monkeys that have become an integral part of their lives. That is the reality at Duasidan, a community in the Dormaa Central Municipality of the…
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GhIPSS anticipates high patronage of universal QR Code for electronic payments
The Ghana Interbank Payment and Settlement Systems, GhIPSS, says it is anticipating a high patronage of a new QR Code for retail purchases and other transactions. Currently, almost all banks have their unique QR codes for electronic payments, a development that restricts customers to only use their bank’s QR Code at a point of sale.…
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COCOBOD laments increasing use of cocoa farms for mining activities
Management of COCOBOD has described the upsurge in illegal mining in cocoa growing areas especially in the Fanteakwa South District of the Eastern Region as a worrying national crisis that needs immediate intervention by government. According to COCOBOD, the activities of these miners and the use of mercury by licensed small scale mining companies do…
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West Africa Gas Pipeline resumes gas supply to Takoradi after temporary shut down
The West African Gas Pipeline Company Limited, WAPCo, says it has successfully completed the cleaning and inspection of its 20-inch offshore pipeline from Badagry in Nigeria to Takoradi, Ghana. A release issued by the company in Accra on Thursday, February 27, said the Internal inspection of the 569 km offshore pipeline was completed on Sunday,…
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Dangote Fertiliser begins pre-testing of US$2bn world’s biggest plant ahead of opening
Dangote Fertiliser Limited has begun the countdown to the inauguration of its US$2 billion Granulated Urea Fertiliser complex located in the Dangote Free Zone. With a capacity of 3 million tonnes per annum, the plant has been classified as the biggest project in the entire fertiliser industry history in the World. Siapem of Italy is…
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Accra to host major digital financial services conference next month
The Ghana Chamber of Telecommunications (GCT) and the Financial Inclusion Forum Africa (FIF Africa), have announced a partnership to organize the Mobile Technology for Development Conference (MT4D) 2020 to be held in Accra at the Kempinski Gold Coast Hotel on 10th and 11th of March 2020. The MT4D Conference will provide a platform for stakeholders…
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Agric Minister to meet BoG, Finance Ministry on financing module to support millers
The Minister of Food and Agriculture is to meet with officials of the Bank of Ghana and the Ministry of Finance on a proposed financing module to boost the operations of millers of various grains in the country. It follows concerns that millers are unable to buy all or most produce such as rice, sorghum…