Author: citibusinessnews
-
5 important things to know about the African Continental Free Trade Area agreement
The African Continental Free Trade Area (AfCFTA) which unites the 55 members of the African Union (AU) and eight Regional Economic Communities (RECs), is the largest free trade area in the world. It has an overarching goal of establishing a single continental market with a combined GDP of around US$3.4 trillion and a population of…
-
Nigeria ranks number one globally for cryptocurrency usage and ownership
A new study has revealed the countries with the highest cryptocurrency usage and ownership rate. The ranking was determined by the percentage of the population that reported using or owning cryptocurrency from 2019 to 2022. According to by Trading Browser, an online casino guide, Nigeria topped the list with 45% of its population using or owning…
-
DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta
The Finance Minister, Ken Ofori Atta, has warned that non-participation in the Domestic Debt Exchange Programme by individual bondholders will prolong the efforts by the government to revive the economy. Addressing the nation on Monday, February 6, Mr Ofori-Atta said “frankly, non-participation or a lower-than-expected turnout for the DDEP will prolong efforts to resolve the…
-
We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners
Finance Minister Ken Ofori-Atta has stated that failure to secure a bailout with the International Monetary Fund (IMF) by mid-March may ground Ghana’s economy to a halt. Addressing Pensioner bondholders who have resisted their inclusion in a domestic debt exchange programme on Monday, February 6, the Finance Minister pleaded with the pensioners to accept a…
-
Idris Elba adds Ghana to the list of African countries he wants to partner with
The celebrated British actor Idris Elba, recently met with the president of Ghana, Nana Addo Dankwa Akufo-Addo at the Jubilee House, during his visit to Ghana. In a video from their meeting that has gone viral on social media, Idris Elba was seen pitching the idea of establishing a film studio in the west African country.…
-
Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks
In the latest revenue generating effort for Elon Musk’s Twitter, the social media giant is reportedly set to make businesses pay $1,000 per month to keep their gold verification check. Social media consultant Matt Navarra first reported the new charge, along with screenshots allegedly showing Twitter employees offering the price to businesses looking to sign up as…
-
Pensioners to picket at Finance Ministry over DDE
Pensioner Bondholders Forum, a group fighting for the protection of the pensioners who have invested in government bonds has vowed to picket at the premises of the Finance Ministry until its members are exempted from the Domestic Debt Exchange Programme (DDEP). The group in a statement explained that attempts to have their investment exempted from…
-
Ghana begins to locally manufacture its own bullion vans to combat robbery
Ghana has started assembling Cash-in-Transit (CIT) armored trucks to keep the country’s banks’ movement of large sums of money secure and impervious to robbery assaults. The first four vehicles that DIHOC- KENAKI Manufacturing Company Limited (DIKMAC) equipped at its armored vehicle assembling facility at Burma Camp in Accra are now prepared for usage. The Defence…
-
MTN’s aYo insurance covers over 8 million Ghanaians in 5 years
aYo Intermediaries Ghana (aYo Insurance), the mobile-based microinsurance wing of MTN Ghana has provided insurance cover for at least eight million Ghanaians to date, representing about 25 per cent of the country’s population. CEO of aYo Ghana, Francis Gota who disclosed this at the company’s thanksgiving service to celebrate what he called “five remarkable years…
-
Gold-for-oil: Govt spent $40m on first consignment – NPA
The National Petroleum Authority (NPA) has revealed that the initial 40,000 tonnes of diesel that arrived in January under the Gold-for-oil policy were valued at US$40 million. The clarification by the NPA comes after several calls by industry experts including the Institute of Energy Securities for the government to provide details on how much it…