Author: citibusinessnews
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Volkswagen takes over the responsibility of vehicle assembly in Ghana
Volkswagen is reaffirming its commitment to the development of the automotive industry in Ghana with the opening of a new vehicle assembly facility in Accra. With this move, Volkswagen also takes over the new vehicle assembly responsibility from its licensed importer in Ghana, Universal Motors Limited (UML). UML was awarded the assembly contract when Volkswagen…
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Govt pays outstanding coupons to individual bondholders
Government has commenced payments of outstanding coupons to individual bondholders who failed to participate in the Domestic Debt Exchange programme. In a statement, the coalition of Individual Bondholders confirmed the payments of matured coupons to its members but called on the Ministry of Finance to review its communication management and reposition it for proactive engagement…
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Inflation drops marginally to 52.8% in February 2023
Inflation fell for the second month in 2023 to 52.8% after a 19-month surge. This means that in the month of February 2023, the general price level was 52.8% higher than in February 2022, representing a 0.8 percentage point lower rate of inflation compared to January 2023. This was captured in the data released by…
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It’s time to give women top posts in multilateral institutions – GCBL Chairman
The Chairman of the Global Chamber of Business Leaders (GCBL), Dejan Stancer, has called for women around the world to be given top posts in multilateral institutions like the United Nations (UN), the International Atomic Energy Agency and the World Bank. Mr. Stancer made the call during a virtual conference organized by the Global Chamber…
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Global Chamber of business leaders enters into partnership with IEFS
As part of efforts to open up the world to trade and economic partnerships, the Global Chamber of Business Leaders (GCBL) has entered into a strategic cooperation agreement with one of the leading learning institutions in Vietnam, the Institute for Economic and Financial Studies (IEFS). Both IEFS and the Global Chamber of Business Leaders have…
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Gold for Oil policy will save Ghana $4.8bn annually – Veep
Vice President Dr Mahamudu Bawumia has stated that the country will save $4.8 billion annually from the ‘Gold for Oil’ policy. According to him, this is the most important aspect of the policy which is aimed stabilising prices of fuel products, as well as reduce pressure on Ghana’s foreign exchange. Speaking at the commissioning of…
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Gold for oil policy to further reduce fuel prices in coming days – Bawumia
Vice President Dr. Mahamudu Bawumia has announced that consumers of petroleum products should expect a further decrease in the prices of fuel at the pumps as a result of the implementation of government’s Gold for Oil Policy. Already, the national average price for petrol and diesel currently stands at GH¢13.53 and GH¢13.69 respectively. Dr. Mahamudu…
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Expect your matured coupons within 48hrs – Govt tells bondholders
Government says processes for paying matured coupons on outstanding bonds commenced on Monday, March 13, 2023, and urged bondholders to expect such payments to hit their accounts within the next 48 hours. This was captured in a statement issued by the Ministry of Finance on Tuesday, March 14. “Government is pleased to announce that processes…
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BoG honoured at National Honours and Awards 2023
The Bank of Ghana has been recognized by His Excellency, the President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo for the distinguished roles it played during the fight to contain the Covid-19 Pandemic. Specifically, the Bank had to immediately trigger its emergency support clause under Section 30 of the Bank of Ghana Act,…
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Govt gradually destroying financial market – Senyo Hosi
The Convener of the Individual Bondholders Forum, Senyo Hosi, has slammed the Finance Ministry, the Ghana Stock Exchange (GSE) and the Securities and Exchange Commission (SEC) over their woeful handling of the financial market. Speaking on the Citi Prime News on Tuesday, March 14, Mr Hosi said the failure of the Finance Ministry to honour…