Author: citibusinessnews
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![How state actors can contribute to riding the extractive sector off corruption: lessons from the fight against illegal mining [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/05/Social-DCE-Galamsey-1.jpeg)
How state actors can contribute to riding the extractive sector off corruption: lessons from the fight against illegal mining [ARTICLE]
“Those that fail to learn from history, are doomed to repeat it.” Winston Churchill Examining the past helps shapes future. Learning from past successes and failures is key if we are to grow. The fight against irresponsible mining can be traced as far as the late 1980s immediately after the passage of the Small-Scale Mining…
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![New GNPC boss: The In Tray [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/04/Danquah-1.jpg)
New GNPC boss: The In Tray [ARTICLE]
The newly appointed acting Chief Executive Officer to the Ghana National Petroleum Corporation (GNPC), Opoku-Ahweneeh Danquah, has an excellent profile which is believed more than qualify him for the job, particularly with his background as the Deputy Chief Executive (DCE) Technical Operation. However, he may be confronted with a tall list of challenges that he…
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MD of FBNBank appointed to Venture Capital Trust Fund Board of Trustees
The Managing Director of FBNBank, Mr. Victor Yaw Asante has been appointed as a member of the Board of Trustees of the Venture Capital Trust Fund (VCTF). Mr. Victor Yaw Asante who was sworn-in as the ninth member of the governing board of the VCTF is representing the Ghana Association of Bankers (GAB) on the…
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Bayport grants scholarships to 20 brilliant but needy students
Bayport Savings and Loans has awarded full educational scholarships to 20 brilliant but needy students selected from across the country as part of its corporate social responsibility. The beneficiaries comprising eleven males and nine females in primary, junior and senior high and tertiary institutions were shortlisted from a total of 84 applications received from Bayport’s…
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Claims BOST recorded GH¢400 million in losses inaccurate – Management
The management of the Bulk Oil Storage and Transportation Company Limited (BOST) has rejected claims that it made a loss of GH¢400 million. Insisting that BOST is profitable, management of the company explained that the firm made over GH¢9.8 million profit before tax in 2020, the first time since 2016. “The report of the GH¢400…
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Bawumia avoids commentary on E-levy during lecture on economy
The Vice President, Dr. Mahamudu Bawumia, was silent on the controversial Electronic Transfer Levy (E-levy) during his much-anticipated economic lecture on Thursday. The only time the Vice President came close to mentioning the tax policy was when he was talking about taxes and levies abolished and reduced by the Akufo-Addo government within the last five…
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COVID-19, banking sector clean-up cause of high debt stock – Bawumia
Vice President, Mahamudu Bawumia has attributed Ghana’s rising debt stock to the COVID-19 pandemic and the banking sector clean-up. Addressing a National Tertiary Students Confederacy (TESCON) Training and Orientation Conference at Kasoa in the Central Region, Dr. Bawumia said the country’s debt to GDP ratio had “increased by 17.6 percent” between 2019 and 2021. He…
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Bawumia blames negative credit ratings, chaotic budget approval, others for cedi’s woes
The Vice President, Dr. Mahamudu Bawumia, has attempted to give reasons for the troubles of the Ghana cedi. The head of the government’s economic management team blamed the woes of the cedi largely on negative credit ratings, challenges in getting the 2022 budget passed, and the refusal of investors to roll over their monies in…
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Unveiling of Pamville – Accra’s new definition of luxury homes
Burgundy Homes is excited to announce the unveiling of its latest development, Pamville at East Legon in an Open House Event scheduled for Saturday, 9th April 2022, from 9am through to 6pm. Pamville is a 15-unit gated estate with breathtaking awe-inspiring architecture and boasts of a unique and bespoke Recreational Centre. It is cloistered at…
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Stop pricing goods and services in foreign currencies – BoG warns
The Bank of Ghana (BoG) has cautioned persons pricing goods and services in foreign currencies to desist from such practices or have themselves to blame. According to the apex bank, such practices breach the Foreign Exchange Act, 2006 (Act 723) which prohibits companies and institutions from pricing, advertising, receipting, or making payments in foreign currencies…