Author: citibusinessnews
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Sanctions for unregistered SIM cards to begin today
SIM card users in Ghana who have not re-registered their SIM Cards will start facing punitive actions from Monday, September 5, 2022. According to a document from the National Communications Authority, the initial punitive measures will include the re-routing of outgoing calls for special messages to be played. Some numbers will also be blocked…
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Afreximbank approves USD 50 million for Prime Meridian Docks Ghana Limited
The Executive Committee of the Board of Directors of African Export-Import Bank (Afreximbank) in Cairo has approved senior debt funding of USD 50 Million for Prime Meridian Docks Ghana Ltd (PMD). This is to form part of a USD 75 Million syndicated project-finance facility for the company’s maritime infrastructure project. The funding is to support…
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Investment in technology critical to economic growth – Elsie Addo Awadzi
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi has underscored the need for more investments to be made in technology to ensure economic growth. Madam Elsie Addo Awadzi believes though the COVID-19 pandemic gave rise to the use of technology, there are some gaps in access to it. Delivering her speech as…
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Fuel prices to go up between 5% and 10% – IES
Consumers of petroleum products should expect fuel prices to go up between 5% and 10% at the various pumps across the country from September 2022, According to the Institute for Energy Security, IES, this will add close to 70 pesewas to the current prices. Currently, a litre of petrol is going for about GHS11 on…
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17 OMCs did not pay GH¢249.8m duties, taxes between 2022, 2021 – Auditor General
Seventeen Oil Marketing Companies did not pay duties and taxes totaling GH¢249,800,802.28 on 219,995,530 litres of fuel products lifted for the period January 2020 to December 2021. The Auditor General’s report on the audit of Ministries, Departments and Agencies noted this discrepancy from the Integrated Customs Management System (ICUMS). Twenty-eight Oil Marketing Companies failed to…
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AfCFTA Hub kickstarts in Ghana
In furtherance of the Government of Ghana’s digitization agenda, the Ministry of Communications and Digitalization and the Postal and Courier Services Regulatory Commission (PCSRC), have launched the “AfCFTA Hub” concept in Ghana to promote, enhance and advance digital trading, electronic commerce, and e-marketplace transactions in general. Ghana’s strong ambition is not just to become a…
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$750m Afreximbank loan received in full; $37m set aside for debt resolution – Gov’t
Deputy Finance Minister, John Kumah says government has received the full loan amount of $750 million from the African Export-Import Bank (Afreximbank). The disclaimer was issued after ranking member on the Finance Committee in Parliament, Cassiel Ato Forson made comments indicating the bank account of government had received only $713 from the total amount in…
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Office of the Registrar of Companies to delist 2,584 dormant companies from Companies Register
The Office of the Registrar of Companies (ORC) has begun processes to continue striking off 2,584 dormant and defaulting Companies from its Companies’ Register. This exercise is being carried out in accordance with Section 289 of the Companies Act, 2019 (Act 992) which connotes that a Company can be stricken off the Companies Register for…
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Col. Damoah removed as Customs Commissioner in the wake of Labianca saga
The Commissioner of the Customs Division of the Ghana Revenue Authority (GRA), Colonel (Rtd.) Kwadwo Damoah, has been directed by the President to hand over his duties to an acting Deputy Commissioner at the Authority, Seidu Iddrisu Iddisah. Col. Damoah had been serving in his position despite his contract expiring in October 2021, according to…
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We’re ready to help Ghana stabilize economy – IMF
The International Monetary Fund (IMF) has expressed its willingness to help Ghana stabilize its economy. This was disclosed by the IMF’s Managing Director, Kristalina Georgieva in a tweet after a meeting with the Finance Minister, Ken Ofori-Atta. The IMF concluded a fact-finding mission to Ghana in July in which it met with key stakeholders like…