Author: citibusinessnews
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Databank’s liquidity challenges being resolved – Kojo Addae-Mensah
Chief Executive Officer (CEO) of Databank, Kojo Addae-Mensah has disclosed that the fund management company is almost through with resolving its liquidity challenges. The firm had told its cherished clients that it is reeling under the impact of difficulties that have rocked the fund management industry owing to the macroeconomic crisis bedevilling the country. It…
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First National Bank collaborates with payment partners to resolve transaction debit issues
First National Bank is collaborating with its international payment partners to resolve transactional differentials on some accounts. About a week ago, First National Bank embarked on an exercise to resolve and reconcile debit card transactions carried out in December 2022 and early January 2023. This exercise required some exchange rate adjustments to customer balances with…
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Govt, Organised Labour base pay meeting ends inconclusively for 7th time
A meeting between Organized Labour and government over the demand for a 60% increment in base pay on the single spine salary structure has ended inconclusively for the seventh time. This is a result of the failure of both parties to reach a consensus on the proposed percentage. Organized Labour explains that the demand for…
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BCM anticipates steady growth in international operations in 2023
Ghana based, international contract mining and civil earthworks contractor, BCM, is expecting steady improvement over the next two years. This comes after the company had a sluggish and problematic 2020/21, along with many in the industry, though it stabilized itself in 2022 and was able to bounce back in the third quarter. Chief Executive Officer,…
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Elsie Appau appointed new President of Women Economic Forum Ghana
The Regional Managing Director (MD) for Acreaty in Africa, Ms Elsie Appau has been appointed the new President of the Women Economic Forum (WEF), Ghana with the mandate to steer administrative affairs of the forum in the country. The appointment of Ms Elsie Appau who is a lawyer, entrepreneur and water governance specialist is good…
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Akufo-Addo’s defense of Akonta mining firm unfortunate – Ken Ashigbey
The Chief Executive Officer of the Ghana Chamber of Telecommunications and convenor of the Media Coalition Against Illegal Mining, Ing. Dr. Kenneth Ashigbey has expressed reservations about the president’s defence of Akonta Mine over the firm’s alleged engagements in illegal mining activities. Speaking at the 28th National and 16th Biennial Congress of the National Union…
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GUTA calls for total reform in VAT implementation
The Ghana Union of Traders Association (GUTA) has called for a total reform in the implementation of the Value Added Tax (VAT) to enhance compliance. GATU’s call follows the implementation of the increase in the VAT rate from 12.5% to 15% effective January 1, 2023. Finance Minister, Ken Ofori-Atta had indicated that the increase is…
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IMF boss warns 2023 will be a tougher year
A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and…
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Agric Minister appeals to Thai investors to invest in Ghana’s rice sector
As part of efforts to make Ghana an exporter of rice, the Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto, has appealed to investors in Thailand to come and invest in Ghana’s rice sector. He said Ghana has huge potential for rice production which is evident in its favourable climatic conditions, availability of arable…
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Freight forwarders’ new rates take effect from January 1
The Ghana Shippers’ Authority (GSA) and Freight Forwarders have announced new rates which take effect on Sunday, January 1, 2023. The new rates will guide Freight Forwarders and Clearing Agents who assist importers to clear their goods at the country’s two seaports, Tema and Takoradi ports, Elubo and Aflao borders, as well as the Kotoka…