Author: Ellen Dapaah
-
Value of MoMo transactions decrease by 8% between December and January amidst e-levy brouhaha
The yet-to-be implemented electronic transfer levy may have already started having an impact on e-payment transactions. This is because latest data from the Bank of Ghana reveal a decrease in the value and volume of mobile money transactions, internet banking services and Ghipps Instant Pay. The Bank of Ghana’s report shows that the value of…
-
New MPR might aid in attracting investment for Ghana – Economist
Economist with Databank, Courage Boti, believes the revision in the monetary policy rate has the potential of attracting foreign investment into Ghana. This comes on the back of the recent increase in the policy rate by 250 basis points to 17 percent. According to him, this new development might mean more attractive interest rates for…
-
Tullow completes pre-emption of Deep Water Tano component of Kosmos Energy
Tullow Oil plc says it has completed the pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. The cash consideration paid on completion was US$118 million, reflecting closing adjustments, and was funded from cash on the balance sheet. This transaction takes Tullow’s equity interests…
-
Lack of investment at oil fields limiting oil production – CEO of Tullow
The Chief Executive Officer of Tullow Oil PLC, Rahul Dhir, has lamented the lack of investments in the oil industry. According to him, this is limiting the production of oil at the Jubilee and TEN oil fields. In an interaction with the media, he stated that: “Because of a lot of focus on climate change…
-
Deputy Trade Minister highlights need for domestic production of goods
A deputy Minister for Trade and Industry, Nana Ama Dokua Asiamah Adjei, has highlighted the need for Ghanaian traders to focus on domestic production of goods instead of relying heavily on imports. This comes after complaints by traders about how the depreciation of the cedi against the dollar, high rates charged at the ports, and…
-
NGO calls for stakeholder engagement with fisherfolk ahead of 2022 closed season
The Environmental Justice Foundation is asking the government to adequately engage fisherfolk before implementing this year’s closed season. According to the non-governmental organisation, giving prior information to the fisherfolk will aid in their preparations to effectively observe the exercise. Charles Smith, the Communications Officer for the Foundation, told Citi Business News, “The fisherfolk should be…
-
![Traders blame increased food prices on rising cost of fuel, others [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/yam-in-the-market.png)
Traders blame increased food prices on rising cost of fuel, others [Video]
For weeks now, several economists and stakeholders have predicted that prices of fuel and food will continue to rise following tensions between Ukraine and Russia and the cedi’s depreciation against the dollar. The prices of some key commodities have been on the rise, and the cost of food and fuel has increased astronomically. With fuel,…
-
Economist charges gov’t to boost domestic food production to check rising inflation
Economist with Databank, Courage Martey, is asking government to put in measures, to boost domestic food production to bring the cost of food down in order to check the rising inflation rate in the country. Food inflation was one of the main influencers for the recent rise in inflation in the country. The rate for…
-
We’ve accounted for $1.3bn cocoa syndicated loan; ignore contrary claims – COCOBOD
The Ghana Cocoa Board (COCOBOD) has denied claims that it is unable to account for the $1.3 billion cocoa syndicated loan for the 2020/2021 crop season. The Member of Parliament for Juaboso, Kwabena Mintah Akandoh, on Thursday asserted that COCOBOD has failed to give a tangible explanation about the whereabouts of the fund, which was…
-
MTN Ghana still readying itself to pilot 5G later this year – CEO
MTN Ghana’s CEO Selorm Adavevoh is optimistic that his outfit will be able to launch 5G services soon. Demand for data has seen astronomical growth in recent times, and this indicates that current internet infrastructure will soon be outstripped by demand. This situation thus requires significant investment to expand data infrastructure, and telecommunications giant; MTN…