Author: citibusinessnews
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Scores of traders count losses again after 7th flooding at Kejetia market
Scores of traders at the New Kejetia Market in Kumasi are once again counting their losses after some pipes in the facility burst and led to flooding, which has caused destruction to their goods. During Citi News’ visit to the market on Wednesday morning, the affected persons were seen scooping water out of their shops.…
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Committee set up to probe alleged military brutalities on small scale miners at Obuasi
The Lands and Natural Resources Ministry has set up a committee to look into alleged military brutalities on some miners in Obuasi. Reports indicate that some miners under the government’s community mining scheme encroached on a concession currently being mined by AngloGold Ashanti. The Concerned Small Scale Miners Association and the Minority have called for a…
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Parliament approves $750 million loan agreement with Afrexim Bank
Parliament has approved a $750 million loan agreement with the Afrexim Bank for funding infrastructure projects and budget support. This comes despite a last-minute attempt to arrest the motion on grounds of lack of a quorum. The loan is part of a $1 billion dollar facility, the government is seeking to shore up its reserves…
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Monetary Policy Committee begins 107th meeting to assess economy
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) is scheduled to begin its regular meetings from today, Wednesday, July 20, 2022, through to Friday, the July 22, 2022. The 107th meeting of the Monetary Policy Committee is to review developments in the economy and take the necessary steps to ensure financial and…
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New GNPC CEO leads delegation to Appo Energy conference in Abuja
The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh-Danquah, is today leading a high-powered delegation to a two-day petroleum conference of Chief Executive Officers (CEO’s) of National Oil Companies (NOC’s) of African Petroleum Producers’ Organisation (APPO) in Abuja, Nigeria. The African Petroleum Producers Organisation (APPO) is a 16-member intergovernmental energy organisation…
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Railway Company to begin Tema-Accra shuttle train services today
Management of Ghana Railway Company Limited (GRCL) will resume the Tema-Accra passenger train service from today, Monday, July 18, 2022, which was suspended temporarily for rehabilitation works. “After successfully addressing some technical challenges, GRCL conducted a series of test runs and a final joint inspection was also carried out on July 7, 2022, by GRCL…
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MPS ready to cede 20% of container traffic for two years – GPHA
Management of Ghana Ports and Harbours Authority (GPHA) has revealed that Meridian Port Service (MPS) has agreed to cede 20 percent of container traffic to the Authority effective August 1, 2022. The decision was arrived at after a crunch meeting with the Minister of Transport, Board Chairman of the Authority, the Director of Tema Port…
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Gov’t fees and charges to go up 15% after parliamentary approval
Parliament has approved the Fees and Charges Miscellaneous Provisions Bill 2022. The approval gives legal backing to the request for a 15 percent increment on the cost of government fees and charges. During the second reading stage of the bill, a deputy Minister for Finance, Abena Osei Asare, indicated that the increment is to ensure…
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GNPC kicks off Saltpond field decommissioning project
The Ghana National Petroleum Corporation (GNPC) has officially commenced the decommissioning of the Mr. Louie Platform in the Saltpond oil field. The decommissioning project is estimated to last twelve months. Being the first decommissioning project of its kind in Ghana, GNPC, its lead contractor, as well as other relevant stakeholders, showed their readiness to work…
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Ghana’s worsening debt situation forced gov’t to IMF – Bawumia
Vice President, Dr. Mahamudu Bawumia has explained why the government is seeking financial assistance from the International Monetary Fund (IMF) despite earlier claims that the economy was buoyant. Speaking at the launch of two new high-level information technology programmes at Accra Business School at Baatson in Accra, Dr. Bawumia explained that apart from the Covid-19…