Author: citibusinessnews
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Pensioner Bondholders continue picketing over unpaid coupons
Members of the Pensioner Bondholders Forum have resumed picketing at the Finance Ministry, intensifying their demand for the payment of six outstanding coupons that remain unpaid. After a temporary two-week suspension of their protest, during which the government fulfilled its promise to settle four principles and matured coupons, the bondholders have reassembled to press for…
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Govt expenditure falls by 37.2% despite increase in employee compensation
Government has recorded major decreases in its expenditure line items for the first quarter of 2023. Out of the six expenditure line items, only the compensation of employees increased. The Bank of Ghana in its May 2023 Monetary Policy Report indicated the expenditure performance was partly attributed to a reduced debt service due to the…
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ACEP raises red flags over TOR-Torentco lease agreement
Benjamin Boakye, Executive Director of the Africa Center for Energy Policy (ACEP), has vehemently criticized the government’s decision to lease the Tema Oil Refinery (TOR) to Torentco Asset Management. Boakye said that the deal raises red flags because it was not done through a competitive bidding process. During an interview on Eyewitness News on June…
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RevnaBio receives FDA approval for NeuMoDx™️ 96; first in Sub-Saharan Africa
Ghana-based precision medicine company Revna Biosciences (RevnaBio) has received historic approval from the Food and Drugs Authority of Ghana (FDA) to use the NeuMoDx™️ 96 diagnostics platform supplied by the global biotech company QIAGEN. The registration comes in addition to FDA permissions for RevnaBio to conduct its first set of complex tests for the Ghanaian/West…
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Economic crisis: Purchase of luxury items has declined – Ahomka-Lindsay
Former Deputy Trade Minister Robert Ahomka-Lindsay has disclosed that revenue growth in the luxury goods sector has dipped in recent years due to the economic crisis in Ghana. He said that people are now buying more essentials such as clothes and food, and less luxury items. Highlighting the revenue growth, the former Deputy Trade Minister…
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Citi FM/Citi TV present the highly anticipated Management Bootcamp for senior managers
Citi FM, a renowned media organization dedicated to promoting business excellence and professional development, is set to launch the annual Management Bootcamp. This highly anticipated event, targeting senior managers and entrepreneurs, aims to equip participants with essential skills and knowledge in various aspects of business management. The Management Bootcamp, running from Monday, June 26th, is…
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Make decisions to mitigate activities on environment- Business leaders charged
Business leaders are being charged to make decisions that will mitigate the negative impact of their activities on the environment. The Dean of the Ghana Institute of Management and Public Administration (GIMPA) Business School, Professor Samuel Famiyeh believes that although the core aim of every business is to make profits, business owners should also consider…
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Bui Power Authority completes first floating solar project in Sub-Region
The Bui Power Authority (BPA) has successfully completed the construction of its pioneering 5-megawatt floating solar project, making it the first of its kind in the sub-region. The commissioning of the project is anticipated to take place later this year. The BPA initially embarked on the floating solar project with a capacity of 1 megawatt,…
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Citi Business Festival: Stakeholders urged to rethink retail sector
The Managing Partner of Ishmael Yamson and Associates, Michael Harry Yamson says there is the pressing need to rethink the country’s retail sector to maximize its benefits. He said that was because the sector had the power to transform the country’s industrial scene by making it better. Mr Yamson was speaking at the Citi Business…
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Importers and Exporters Association bemoans high port taxes
The Importers and Exporters Association of Ghana has expressed disappointment at the government for failing to address the excessive taxes charged at the ports. This, according to the Association, is believed to have resulted in Ghana losing a significant portion of its cargo traffic to Lomé. The Association also believes that the government has not…