Author: citibusinessnews
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GIZ to train 120 persons in the hospitality industry
An initiative of the German Federal Ministry for Economic Cooperation and Development has launched a project with Meltwater Entrepreneurial School of Technology (MEST) to provide specialised academic and practical training for over a hundred youth within the hospitality sector. This is expected to lead to immediate employment. Invest for Jobs is the brand of the…
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GRA begins implementation of six new tax reliefs
The Ghana Revenue Authority, GRA, has commenced the implementation of some six tax reliefs introduced by the government as part of efforts to cushion taxpayers against the impact of the COVID-19 pandemic and support efforts by small and medium-sized businesses to create jobs. The implementation of these reliefs follows the passage of relevant legislation by…
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Moody’s downgrades Ghana’s economy to Caa1 with stable outlook
Moody’s Investors Service (Moody’s) on Friday, February 4, 2022 downgraded Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable from negative. It said the new rating of the country’s economy reflects the woes Ghana is facing in fixing its liquidity and debt challenges. It also faulted…
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AZA Finance assures of increased collaborations with Fintech companies to ensure growth under AfCFTA
AZA Finance has assured of increased collaborations and support for companies within Ghana’s financial and fintech ecosystem to grow and take full advantage of the Africa Continental Free Trade Agreement (AfCFTA). This comes on the back of the recently launched Pan-African Payments and Settlement System – a revolutionary Financial Market Infrastructure to enable instant, cross-border…
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![Government urged not to interfere in DBG’s operations [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/01/Kwamina-Bentsi-Enchill-Duker-.jpg)
Government urged not to interfere in DBG’s operations [ARTICLE]
A new report by policy think tank International Perspective for Policy and Governance (IPPG) has urged the Akufo-Addo led government not to interfere in the credit decisions and operations of the newly established Development Bank of Ghana (DBG). According to IPPG, the NPP government must create and preserve DBG’s dignity as an apolitical institution to…
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McDan suspends private jet operations; asks for guidance and further talks
McDan Aviation has announced the suspension of its private jet operations at the Terminal 1 of the Kotoka International Airport. This is to enable the management of McDan Aviation to hold talks with the Ghana Airport Company Limited (GACL) over contentions regarding operational procedures. In a letter sighted by Citi Business News dated January 31,…
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‘E-levy not the solution to revenue shortfall, go to IMF’ – Assibey Yeboah
Former Chairman of the Finance Committee of Parliament Dr. Mark Assibey Yeboah is asking the government to reconsider its decision not to go back to the International Monetary Fund (IMF) in the face of the country’s dwindling revenues. He maintains that the government’s insistence on passing the Electronic Transfer Levy (E-levy) to shore up its…
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Shippers’ Authority eyes boost in transit trade as it shelters truck drivers
Transit truck congestion at the Elubo border and the haphazard parking of cargo trucks in the Jomoro Municipal Assembly has become a thing of the past with the construction of the Elubo Freight Park. The project which was initiated and funded by the Ghana Shippers’ Authority (GSA) with support from the Jomoro Municipal Assembly was…
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Bank of Ghana maintains policy rate at 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 14.5% percent. This is the second time the Central Bank has maintained the rate after increasing it by 100 basis points in November 2021. The rate, which is of keen interest to businesses, does not only signal the…
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Kwamina Bentsi Enchill Duker appointed as 1st CEO of Development Bank Ghana
Former Managing Director of Fidelity Bank, Asia, Kwamina Bentsi Enchill Duker has been appointed as the first Chief Executive Officer of the Development Bank Ghana (DBG). Kwamina Bentsi Enchill Duker brings to DBG, over 30 years of experience in finance and investment across different geographies including the UK, Asia and Ghana. A statement issued by…