Author: citibusinessnews
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GNPC’s expenditure increased by more than 200% in 2022 – PIAC report
The Ghana National Petroleum Corporation’s expenditure on various line items, mainly administrative expenditure and capital projects, has witnessed significant increases by more than 200 percent, according to the 2022 Annual Report by the Public Interest and Accountability Committee (PIAC) on government’s oil revenue. Despite petroleum revenues recording a historic high in 2022, PIAC recommends that…
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GIPC organizes 2nd edition of MDA-Investor forum
The Ghana Investment Promotion Centre (GIPC) held the 2nd edition of its MDA-Investor Forum, to advance deliberations on improving relationships between state institutions and businesses within the country. The forum successfully brought together representatives from various Ministries, Departments and Agencies (MDAs)/Metropolitan, Municipal, District Assemblies (MMDAs) and investors, to dialogue on the current business regime, and…
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Reject govt’s proposed alternative offer – Organised Labour to Pension Fund Trustees
Organised Labour has urged the Board of Trustees of Pension Funds to reject any attempt to rope in pension funds of their clients onto government’s new Proposed Alternative Offer as part of the debt exchange programme. According to Organised Labour, after scrutinising a letter dated April 7th, 2023, inviting the Board of Trustees of Pension…
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Public Utilities Workers’ Union, GWCL staff protest over Deputy MD’s appointment
The Public Utilities Workers’ Union of the Trades Union Congress and some staff of the Ghana Water Company Limited (GWCL) are protesting the nomination of a Deputy Managing Director, Finance and Administration, Collins Nuntwiri to the company. Clad in red, the union and the staff bemoan that Mr. Nuntwiri does not have the required qualification…
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Securing IMF bailout won’t fix economy – Harry Yamson
Even if Ghana secures its 18th extended loan facility from the International Monetary Fund (IMF), Michael Harry Yamson, Managing Partner at Ishmael Yamson and Associates, fears the country’s economic woes will further worsen. He believes the government has not demonstrated enough fiscal and political discipline in order to improve macroeconomic stability. Mr. Yamson told Bernard…
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ECG MD apologises to customers for inefficiencies
The Managing Director of the Electricity of Ghana (ECG), Samuel Dubik Mahama, has rendered an unqualified apology to customers of the power company for the inefficiencies in the system. He admitted that his outfit has on some few occasions not delivered efficiently to the satisfaction of their customers. The ECG boss partly attributed the issue…
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ECG revenue mobilisation not IMF driven – Dubik Mahama
The Managing Director of the Electricity Company of Ghana, Samuel Dubik Mahama has refuted suggestions that the revenue mobilisation exercise is one of several conditionalities from the International Monetary Fund (IMF). The ECG has embarked on a one-month-long revenue mobilisation exercise to recover some GH¢5.7 billion from individuals and firms who have failed to pay…
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$2.5m worth of crude condensate missing at TOR – Opoku Prempeh
The Minister of Energy, Dr. Matthew Opoku Prempeh, has disclosed that some $2.5 million worth of crude condensate has gone missing at the Tema Oil Refinery (TOR). The Minister explains that his outfit secured a deal for the company in the premix sector but $2.5 million has been lost and left unaccounted for. “I gave…
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Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence
Dominion University College, a private institution located in Accra, has unveiled plans to create a Center of Excellence for Artificial Intelligence (AI) to equip young men and women with IT and business skills, and to help reduce youth and women unemployment in the country. In collaboration with renowned US-based organizations, the centre will provide practical…
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We are open to accelerating AfCFTA’s success – CEO of GSA
The Chief Executive Officer (CEO) of the Ghana Shippers’ Authority (GSA), Ms. Benonita Bismarck has expressed the readiness of her organization to collaborate with the African Continental Free Trade Area (AfCFTA) Secretariat to develop effective transport and logistics policies and programs under the AfCFTA Agreement. According to her, the success of AfCFTA largely hinges on…