Author: citibusinessnews
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Integration of West African Stock Exchanges to be completed this year – GSE MD
The Managing Director of the Ghana Stock Exchange (GSE) Ekow Afedzie says the final phase of the integration of three key stock exchanges across the West Africa sub-region to facilitate cross-border listing and trading will take off this year. Speaking at a news conference organised by the local bourse, Mr. Afedzie said the process is…
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January producer price inflation hits 13.3% due to changes in prices of refined fuel
The Producer Price Inflation (PPI) for January 2020 has increased to 13.3 percent. This rate represents a 0.3 percentage point increase in producer inflation relative to the rate recorded in December 2019, which was 13.0 percent. This month’s rate, is the highest producer inflation since March 2016. The Producer Price Index measures the average change…
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KIA’s Terminal 1 rented out to McDan Aviation – Aviation Minister
The ground floor of Terminal 1 at the Kotoka International Airport (KIA), HAS been rented out to McDan Aviation for 15 years since January 2019. That’s according to the Minister of Aviation, Joseph Kofi Adda. Answering a question on the floor of Parliament, Mr. Adda indicated that all domestic flights were relocated from Terminal 1…
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GPRTU backs new Motor Insurance Database to check fake insurance stickers
Following the introduction of the Motor Insurance Database (MID) to check the menace of fake insurance stickers, the Greater Accra Regional Executives of the Ghana Private Road Transport Union (GPRTU) of the Trades Unions Congress (TUC), has pledged their support to the National Insurance Commission to ensure a smooth implementation of the programme. The group…
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EOCO freezes assets of defunct Ideal Finance boss, Nii Kotei Dzani
The Economic and Organized Crime Office (EOCO), has frozen the assets of Nii Kotei Dzani, a Member of the Council of State and founder and Director of defunct Ideal Finance. According to Citi Business News sources, the action is to among other things intended to find ways to retrieve funds from him to pay back…
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South Africa’s ‘Boschkloof Wines’ launched in Ghana
Boschkloof, one of South Africa’s premium wine brands has been officially unveiled in Ghana with a call for responsible alcohol consumption. The Chief Executive Officer of Boschkloof Wines, Jacques Borman, made a strong case for responsible drinking during a wine-tasting session held at Golden Tulip Hotel in Accra. “As a leading wine company interested in…
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Petroleum Commission must probe Tullow Ghana’s job cuts – Alex Mould
A former Chief Executive Officer of the Ghana National Petroleum Corporation, GNPC, Alex Mould, is asking the Petroleum commission to probe Tullow Ghana’s decision to lay off Ghanaian workers due to Tullow Oil Plc’s massive disappointments in operations Africa and South America. A fortnight ago, Tullow Ghana announced that it is cutting down its workforce…
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Ghana’s high cost of debt servicing worrying – IMF
The International Monetary Fund’s Resident Representative, Dr. Albert Touna-Mama, has said Ghana’s public debt situation puts the country in a very dire position. The public debt stands at 215 billion cedis with the World Bank warning that the country is at high risk of debt distress. Speaking at a forum organized by Graphic Business and…
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Japan Motors supports Citi Heritage Caravan with pick-up vehicle
The Management of Japan Motors has donated a pick-up vehicle to Citi FM and Citi TV to support the upcoming Heritage Caravan nationwide tour. The Foton Tunland four-wheel drive will be part of the fleet of vehicles that will traverse 12 out of the country’s 16 regions from March 1st to March 7th, 2020. The…
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MoFA urges cashew farmers to be minded by int’l market trends in pricing commodity
The Director of Crop Services at the Ministry of Food and Agriculture, Seth Osei-Akoto, has asked Cashew farmers in the country to consider international market trends in the industry before they fix their prices. Pricing of Ghana’s cashew is currently unregulated, a situation that leads to disagreements between buyers and farmers. Industry players are thus…