Author: citibusinessnews
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$750m Afrexim Bank loan hits Bank of Ghana’s accounts
The $750 million African Export-Import Bank (Afreximbank) Loan approved by Parliament last month, has hit the Bank of Ghana’s (BoG) account, sources close to Citi Business News have stated. The loan, which is part of a $1 billion dollar facility, reached the Central Bank on Thursday, 25th August 2022. Citi Business News sources with the…
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Managing Director of Ghana Stock Exchange, Ekow Afedzie retires in November
Managing Director of the Ghana Stock Exchange, Ekow Afedzie, is set to retire from his position later this year [November 2022], after 31 years of dedicated service. This was announced at the company’s 32nd Annual General Meeting in Accra. Ekow Afedzie was appointed as the Managing Director of the Exchange on January 1, 2020. Commenting…
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GUTA suspends plans to close shops after meeting with Council of State
The Ghana Union of Traders (GUTA) has called off its planned shop closure scheduled for Monday, August 29, 2022. This was after a meeting with the Council of State. GUTA said a joint committee has been set up to look into its concerns. President of the Association, Dr. Joseph Obeng, after the meeting, said the…
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GIPC’s gears up to host 19th edition of Ghana Club 100
After a two-year break owing to the COVID-19 Pandemic, the Ghana Investment Promotion Centre (GIPC) is bracing itself to host the 19th edition of its esteemed Ghana Club 100 awards in October at the Kempinski Gold Coast Hotel in Accra. The Ghana Club 100 is an annual compilation of 100 outstanding companies in Ghana’s business…
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Samba Foods records increased sales despite COVID-19 impact
Samba Foods Limited, a wholly Ghanaian owned food processing and preservation company, recorded impressive sales last year despite the effect of the lingering COVID-19 pandemic on its activities. Sales of the company rose by 57.48 per cent to GH¢1, 059,735 in 2021 from GH¢672, 907 in 2020. Managing Director of Samba Foods Limited, Dr. Mrs…
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Nick Dansi Adjei gets ultimate honour at Shippers Awards; named Entrepreneur of the year
The Chairman of Ghana Link Network Services Ltd (Ghana Link) Mr. Nick Danso Adjei was given the ultimate award at the 5th edition of the Ghana Shippers Awards held on Friday, August 19, 2022, at the Kempinski Hotel in Accra. He was crowned as the “Entrepreneur of the Year” at the awards night. The award…
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GNCCI urges gov’t to introduce deliberate policies to boost revenue mobilisation
The Ghana National Chamber of Commerce and Industry, GNCCI, has reiterated calls for government to operationalise the Tax Exemption Bill and the Property Tax law and other deliberate programmes to boost domestic revenue mobilization. According to the Ghana National Chamber of Commerce and Industry, the high cost of doing business in the country which they…
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CEO of Eye Express receives special recognition award
The Chief Executive Officer (CEO) of Eye Express, Dr Naa Kowah A. Agyemfra, has been awarded the special recognition award, Practitioner of the Year, at the 2022 Ghana Business Standard Awards. The 2022 Ghana Business Standard Awards seeks to celebrate organizations committed to remarkable business standards in their sectors and industry leaders breaking barriers of…
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Cedi depreciation: About $2bn to be injected into economy – Oppong Nkrumah
Information Minister, Kojo Oppong Nkrumah, has said the government is expected to inject some $2 billion into the Ghanaian economy shortly. Kojo Oppong Nkrumah said the 750 million dollars expected from the Afremix Bank will hit the accounts of the Bank of Ghana this week, whilst the cocoa syndicated loan will add $1.3 billion. Speaking…
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DZATA Cement wins big at 2022 Ghana Business Standard Awards
Dzata Cement, an only and wholly-owned Ghanaian cement manufacturing business, wins big at the 2022 Ghana-West Africa Business Excellence Awards as the Cement Brand of The Year. The 2022 Ghana Business Standard Awards seeks to celebrate organizations committed to remarkable business standards in their sectors and industry leaders breaking barriers of excellence across the Ghanaian…