Author: citibusinessnews
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BoG satisfied with banks’ compliance with corporate governance directives
The Governor of the Bank of Ghana, Dr. Ernest Addison, has lauded commercial banks’ compliance with new corporate governance directives issued in the aftermath of the banking sector clean-up. Dr. Addison, speaking at the launch of rebranded Barclays Bank Ghana to Absa Bank Ghana Limited, said the central bank’s directives were intended to create a…
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Nigeria’s border closure doesn’t contravene AfCFTA – Ofosu-Dorte
As African Countries prepare for the implementation of the Continental Free Trade Agreement in July this year, Senior Partner of A.B and David Pan African law firm, David Ofosu-Dorte, says Nigeria’s continuous closure of its border with Benin will not derail the purpose of the pact. Nigeria, which is West Africa’s biggest economy, closed its…
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Barclays Bank Ghana officially rebrands as Absa Bank Ghana
Barclays Bank Ghana Limited, on Monday, February 10, 2020, officially commenced operations as Absa Bank Ghana Limited, a subsidiary of Absa Group Limited, after receiving all required regulatory approvals from the Bank of Ghana. The name change marks the start of a new era for the bank’s operations as a forward-looking African bank with global…
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Coronavirus may impact Chinese investment in Ghana — Lloyd Amoah
The Director of the Centre for Asian Studies at the University of Ghana, Dr. Lloyd Amoah, says a minimal reduction in investment inflows to Ghana from China can be expected as authorities in the second biggest economy in the world battle to control the novel coronavirus. Trade between Ghana and China at the end of…
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Cedi to enjoy continuous stability in Q1 2020 – Analyst
The Head of Trading at Absa Ghana, Jacob Brobbey, says the local currency will continue its strong performance against the dollar at least for the first quarter of the year. So far, the local currency, according to the Bank, has appreciated about four percent in value against the dollar since the start of the year.…
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AfroChampions launch initiative to support Ghanaian entrepreneurs and professionals
Afrochampions, a pan-African network of leading multinationals and intergovernmental organisations, has launched a call for applications on Thursday 6th February 2020 to two prestigious programs: Caravan and Sankore. Patrons of the initiatives include MTN, Trade & Development Bank, Afreximbank, and the Arab Bank for Economic Development in Africa, the anchor sponsor. Through the Caravan and…
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AAG calls for entries to Global Student Competition by Cannes Lions
The Advertising Association of Ghana (AAG) has announced a call for entries to the prestigious Roger Hatchuel Student Academy 2020 global student competition to unearth the next generation of creative talents. The Roger Hatchuel Student Academy, an undergraduate competition and showcase for creative and inspirational thinking, is run in collaboration with the Cannes Lions International…
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Agribusiness is Ghana’s safest path out of poverty – BOST MD
Ghana’s quest to reduce poverty can be fast-tracked with unwavering committment to boost productivity in agriculture, as well as agribusiness. That’s according to Edwin Provencal, the Managing Director of the Bulk Oil Storage and Transport (BOST) company. Mr. Provencal, who was speaking at the 6th Institute of Financial and Economic Journalists (IFEJ) Flamingo Awards to…
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25% of Tullow Ghana workforce to lose jobs due to 2019 production challenges
Tullow Oil Ghana is set to reduce its workforce by at least 25 percent due to Tullow Oil Plc’s massive disappointments in operations Africa and South America. The planned restructuring process, Bloomberg notes, is likely to lead to nearly 40 percent loss of the workforce in its Kenya operations as well as the shut of…
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Tano Sacred Grove’s tourism potential wasting away due to neglect
Tourism, although not the most popular in terms of sectors that drive Ghana’s economy, it contributes something substantial that cannot be overlooked. Indeed, the sector has the potential to make a greater impact on the economy, with the right focus, support and investment. Aside from the poor road network to some tourist sites and hospitality…