Author: citibusinessnews

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in Business, Economy, Local Economy, Markets

Some traders at the Agblogbloshie Market in Accra are calling on city authorities to take steps to evacuate all traders selling on the shoulders of the roads. The traders lamented to Citi Business News how they struggle on a daily basis to attract customers to their sheds, due to the activities of those selling by…

Swift payment of locked up funds critical to boost confidence in investment firms – Databank CEO

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in Banking And Finance, Business

The Group CEO of Databank, Kojo Addae Mensah, wants government to expedite payments to customers of collapsed micro finance companies, Savings and loans and finance houses to facilitate onward payments to customers who have had their investments locked up in some fund management companies. The Receiver for the collapsed microfinance companies is currently paying a…

Critics of banking sector-clean up have no alternative solutions – Gideon Boako

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in Business, Local Economy

Dr. Gideon Boako, an economist and spokesperson for the Vice President, Dr. Mahamudu Bawumia, says critics of the Bank of Ghana’s clean-up of the banking sector, have failed to present possible solutions for the crisis that confronted the country’s financial sector. Speaking on Point Blank on Eyewitness News on Citi FM, Dr. Boako stated that…

Kantanka Automobile sells over 1,000 cars; calls for more gov’t support

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in Business, Local Economy, News

As government contemplates a framework to regulate the importation of used and salvaged vehicles to pave way for global automobile giants planning to set up assembly plants in Ghana, Ghana’s sole local car maker, Kantanka Automobile Company Limited, is reminding the state of its promise to support them to expand. The company, which says it…

Lagos-bound flights divert to Accra over poor visibility caused by harmattan

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in Business

A number of international flights heading to the Murtala Mohammed Airport in Lagos, Nigeria, have been diverted to the Kotoka International Airport over poor visibility caused by harmattan. In an interview with Citi Business News, Edward Baah, Director, Air Traffic Services at Kotoka, said since the night of February 11, 2020, a number of Lagos-bound…

Unibank’s collapse: Court grants bail to Duffuor, eight others

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in Banking And Finance, Business, News

The High Court in Accra has granted bail to the founder of unibank, Dr. Kwabena Duffuor, a former Deputy Governor of the Bank of Ghana, a former deputy of the central bank, Johnson Asiama and seven others. The other seven are Kwabena Duffuor Jnr., who was the CEO of uniBank, Ekow Nyarko Dadzie-Dennis; the Chief…

Citi Business News Fact-checking: Ghana’s public debt accumulation slows in 11-yrs

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in Business, Local Economy

The Vice President Dr. Mahamudu Bawumia on Tuesday, February 11, 2020, speaking at a town hall meeting in Kumasi said the pace at which the country’s public debt is rising has slowed down under the Akufo-Addo administration. He further stated that the Akufo-Addo government is the first to have achieved that feat since 2008. Citi…

AngloGold Ashanti exits SA, sells mines for US$297 million

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in Business, Manufacturing, Mining, Southern Africa

AngloGold Ashanti is selling its Mponeng mine and Mine Waste Solutions tailings recycling business to Harmony Gold for $300m (about R4.4bn), marking the end of its exposure to SA mining. Harmony will pay $200m in cash and $260/oz of gold from Mponeng and other underground assets included in the transaction based on production above 250,000oz/year.…

Gov’t launches Savannah Investment Program to boost livestock, poultry production

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