Author: citibusinessnews
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Energy analyst urges govt to explore possible ways of reducing cost of Pwalugu dam
As the debate about the cost of the construction of the multi-purpose Pwalugu dam continues, an Energy Analyst, Ishmael Agyekumhene, is asking the government to consider renegotiating the deal, if there is an avenue to do so. Close to a billion dollars is expected to be used for the entire project with the minority in…
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Gov’t urged to implement public sector reforms to boost customer confidence
Customer Service Practitioner, Yvonne Ohui McCarthy, wants government to expedite the implementation of the Public Sector Reform Strategy if public companies are to win the confidence of customers. It follows the 2019 Customer Service Index which saw the public sector placing bottom for the second consecutive time, out of nine sectors surveyed. Though the researchers…
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Gov’t allocates US$79m for one region, one industrial park initiative
Government has announced the allocation of 79 million dollars towards the implementation of the one region one park initiative. The parks will provide dedicated land space with energy, water and telecommunications facilities for the establishment of manufacturing industries. Speaking at the 2019 CIMAF Customer Dinner Awards, a Deputy Minister for Trade and Industry, Carlos Ahenkorah,…
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Newly launched G-Money to offer competition for mobile financial operators
Head of Mobile Financial Services at GCB Bank, Carl Ashie, has told Citi Business News the newly launched mobile money wallet service, G-Money will offer a more competitive environment for mobile financial operators. According to him, the launch of the product is part of innovative plans by the bank to meet the ready needs of…
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Replacing MD was not part of restructuring process – Coca-Cola Ghana
The Coca-Cola Bottling Company of Ghana Limited says the decision to part ways with its Managing Director, Seth Adu-Baah, is not part of the ongoing restructuring at the company. “We would like to make it abundantly clear that the decision to part ways with the former Country Manager is not related to planned changes to…
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We won’t print money to pay depositors of collapsed financial institutions – BoG
The Governor of the Bank of Ghana, Dr. Ernest Addison, has downplayed suggestions that the central bank prints money to pay up customers whose funds have been locked up in some of the collapsed financial institutions. The Governor stated that although the bank is committed to paying depositors’ locked-up funds, printing money has not been…
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Bank of Ghana maintains policy rate at 16 percent for record sixth time
The Monetary Policy Committee of the Bank of Ghana has voted to maintain the policy rate unchanged at 16 percent for the sixth consecutive time. This impacts on the interest people pay on their loans, as it determines the rate at which the Central Bank lends to commercial banks in the country. The Chairman of…
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Changing Business Trends: Taxi drivers find ways to compete against Uber & co
Globally, technology is disrupting many traditional businesses and threatening to put many out of jobs. The transport sector is one area experiencing such disruptions as ride-hailing apps are threatening the traditional taxicab business in countries like Ghana. Some taxi drivers who are already feeling the heat in major cities where the likes of Uber and…
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Cedi appreciates against major currencies in January
The local currency has enjoyed a good run against its major trading partners in the first month of the year — appreciating against all the three major currencies, the dollar, euro and pound sterling, according to data released by the Bank of Ghana. The cedi, which depreciated against all the three currencies last year, has…
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GCB Bank launches G-Money mobile money wallet product
GCB Bank, one of the leading banks in the country, has outdoored its mobile money wallet service, G-Money, as part of the bank’s drive to take advantage of its country-wide branch network to deploy a digital payment service that fosters financial inclusion. The mobile money wallet service is accessible via a host of channels such…