Author: Ebenezer Afanyi Dadzie
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80 percent of registered indigenous Petroleum companies not active
Despite the Petroleum Commission’s claim that local content participation in Ghana’s oil and gas sector is improving, it says more than 80 percent of indigenous companies registered with the Commission are currently not operational due to limited capacity. Speaking to Citi Business News on the sidelines of the Local Content Conference in Takoradi, the Business…
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Ghana Stock Exchange signs agreement with Singapore Cooperation to transform its operations
The Ghana Stock Exchange (GSE), in its aspirations to transform into an efficient, world class platform for investments and raising capital, has signed and exchanged a Memorandum of Understanding with the Singapore Cooperation Enterprise (SCE). SCE, an agency of the Ministry of Trade and Industry and the Ministry of Foreign Affairs of Singapore, works closely…
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Ghana’s debt stock reaches 208.6 billion cedis
Data released by the Bank of Ghana shows that between July and September 2019, Ghana’s total debt stock increased by 3.1 billion cedis, hitting 208.6 billion cedis. The figures contained in the Bank of Ghana’s Summary of Economic and Financial Data also shows that the total debt stock of 208.6 billion cedis represents 60.3 percent…
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Local rice farmers need funding support to boost production – JAK Foundation
Citi FM and Citi TV’s campaign to get Ghanaians to consume more local rice to stimulate economic growth continues to get the backing of relevant personalities and agencies both in the public and private sectors. The latest to join in the campaign is the John Agyekum Kufuor Foundation, which is asking government to provide the…
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Promoting Ghana Rice: Citi staff treated to assorted delicacies from local rice
There’s something certainly important about practicing what you preach, because it gives you the impetus to influence others. As you may be aware, there’s a national campaign currently ongoing on the need for Ghanaians to consume locally produced rice to grow the Ghanaian economy. And that campaign was triggered by a single individual who happens…
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Settle power sector debts to halt imminent GRIDCo strike – Minority charges Gov’t
The Minority in Parliament has asked government to immediately take steps to settle the power sector debts affecting the operations of the Ghana Grid Company (GRIDCo). At a press briefing on Thursday, Senior Staff and the Divisional Union of GRIDCo announced a withdrawal of emergency services. The Senior Staff and the Divisional Union is frustrated…
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Mutual funds not affected by revocation of fund managers’ licenses – SEC
The Securities and Exchange Commission, SEC, has announced that the revocation of licenses of some 53 Fund Management Companies will not affect valid licenses of mutual funds that were managed by the collapsed companies. By this, SEC has directed the managers of these mutual funds to ensure that the schemes continue to run in the…
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Fumbisi Rice farmers welcome Buffer Stock’s promise to get them buyers
Local rice farmers at Fumbisi and Gbedembilisi in the Upper East Region have welcomed moves by the Ghana National Buffer Stock Company to assist them with a ready market for their produce. After a Citi News report on how the lack of ready market for the commodity was threatening their investments, the Chief Executive Officer…
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Telcos to stop upfront deduction of 9% CST tax from November 26
Telecommunication companies in the country will from Tuesday, November 26, 2019, stop the upfront deduction of the Communication Service Tax (CST), the Ghana Chamber of Telecommunications has announced. In a statement, the Chamber said it will complete the reconfiguration of its systems to accommodate the commercial and technical requirements for the cessation of the deduction…
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Petroleum Commission to deal with locals fronting for foreign firms
The Petroleum Commission has served notice it will revoke the licenses of local companies that front for especially foreign firms in the petroleum sector. The practice where local companies assume corporate images of foreign ones to enable them access some incentives for their operation has been cited as a major challenge for operators in the…