Author: citibusinessnews
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PIAC questions lack of transparency in cost of food supplies under Free SHS
The Public Interest and Accountability Committee, PIAC, is asking government to as a matter of urgency, consider adding cost information to the food items supplied to schools under the Free Senior High School programme. PIAC’s suggestion came after it undertook a monitoring of some senior high schools under the Free Senior High School programme as…
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Contractor for Boankra Inland Port to be unveiled on Friday – Transport Minister
Transport Minister, Kweku Ofori Asiamah, has announced that the contractor selected for the construction of the Boankra Inland Port in the Ashanti region, will be made known on Friday, February 14, 2020, when the government meets the transactional advisers for the project, PwC. Mr. Asiamah, speaking at a town hall meeting by the government in…
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BOST clears 12-year old GH¢64 million GCB Bank debt
The Management of the Bulk Oil Storage and Transportation Company, BOST, is confident its agenda to turn around the fortunes of the loss-making entity is on course following its ability to fully settle a 12-year old credit facility contracted from GCB Bank. The loan sourced from GCB in 2008 has been in arrears and attracted…
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Debt rise under Akufo-Addo lowest in a decade – Bawumia
Despite the public debt rising to GH¢214.9 billion as at November 2019, representing 62.1 percent of GDP, Vice President, Dr. Mahamudu Bawumia, says the rate of debt accumulation over the last three years is the lowest the country has achieved in a decade. “The strong fiscal adjustment that has taken place and better debt management…
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Decision to clean-up banking sector wasn’t taken lightly — Bawumia
The Vice President Dr. Mahamudu Bawumia, has said the decision taken by the central bank to clean-up the banking sector was carefully planned and was not done in a haste. Speaking at a town hall meeting in Kumasi, the Vice President explained that the nine indigenous banks had challenges that threatened the overall health of…
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Absa Ghana confident of banking sector dominance – Abena Osei-Poku
Managing Director of Absa Bank Ghana Limited, formerly Barclays Bank, Abena Osei-Poku, is confident the bank will ride on the back of innovative solutions to maintain its dominance of the banking sector. Speaking at the official launch of Absa Bank Ghana, Mrs. Osei-Poku said: “Solidly anchored in the Ghanaian economy for over 100 years, we…
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16 percent policy rate must reflect in cheaper credit – Chamber of Commerce
The Ghana National Chamber of Commerce and Industry is asking the Bank of Ghana to ensure that the decision to maintain the policy rate at 16 percent translates into lower interest on credit for businesses. The policy rate determines the rate at which the Central bank lends to commercial banks, and subsequently how much people…
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Protect Ghanaians from layoffs with local content policy for oil & gas sector – Union
The General, Transport, Petroleum and Chemical Workers Union of the Trades Union Congress, wants government to take a second look at the local content policy for the oil and gas sector, to ensure that Ghanaians are protected from layoffs when production companies face operational challenges. This follows Tullow Oil Ghana’s decision to reduce its workforce…
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South Africa’s Wamkele Mene voted as Secretary-General of AfCFTA Secretariat
A South African, Wamkele Mene, has been voted as the first Secretary-General of the Africa Continental Free Trade Area Secretariat (AfCFTA), at the ongoing 33rd ordinary session of the heads of state and government of the African Union. The 40-year-old has previously worked as the Head of Mission to the World Trade Organisation for South…
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Gov’t targets 16 million registered taxpayers through national ID system
Vice President Dr. Mahamudu Bawumia, has disclosed that government should be able to increase the number of registered taxpayers to at least sixteen million by the end of this year. Dr. Bawumia explained that this should be achieved through the conversion of all national ID numbers collated under the various card registrations to Tax Identification…