Author: Lawrence Segbefia
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We-Fi calls for Public, Private Sector support for women entrepreneurs
Heads of state, ministers, leaders of multilateral development banks, private sector executives, women entrepreneurs, and contributing governments of the Women Entrepreneurs Finance Initiative (We-Fi) convened at the first We-Fi Regional Summit to discuss concrete ways to strengthen support for women-led small and medium-sized enterprises (SMEs) in West Africa. Attended by more than 400 public and…
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Ghana cuts its cocoa crop forecast due to plant disease
Ghana cut its forecast for the current season’s cocoa harvest by 6 percent because of plant disease in its biggest growing region, according to two people familiar with the matter. The regulator of the world’s second-biggest cocoa producer lowered the production estimate for the annual crop through September to 850,000 metric tons, from 900,000 tons…
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Bijou Homes at Appolonia City is selling fast
Bijou Homes, a residential community within Appolonia City, is selling fast, with more than 40 percent of the first phase already sold. The Bijou Homes neighbourhood was launched in November 2017 by President Nana Addo Dankwa Akufo-Addo, who heralded GHL Bank and Appolonia City for their partnership to build high-quality affordable homes with flexible payment…
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FDA prevents unwholesome rice from entering Ghana
Citi Business News’ checks at the Food and Drugs Authority(FDA) has revealed that the Authority received an alert on some substandard rice that was being imported into the Ghanaian market from Myanmar. Officials at the FDA quickly moved to prevent the unwholesome rice from entering Ghana with the aid of the customs division and other…
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Ghana’s housing deficit hits two million – Housing Minister
Ghana’s housing deficit has hit 2 million units. This was revealed by the Minister for Works and Housing, Samuel Atta Akyea. By this, government would have to build 190,000 to 200,000 units of houses each year for the next 10 years to bridge the gap. This is expected to cost around US$3.4 billion for the…
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Majority of Rural Banks in stable conditions, only a few in distress—ARB Apex Bank
The parent company of rural banks, ARB Apex Bank has told Citi Business News even though a few of its members are under financial distress majority are solvent hence are able to meet liquidity supply. A newspaper report stated that 21 rural banks out of 143 are completely safe while the rest go through severe…
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Govt misses luxury vehicle tax revenue target
Government has missed its target for the luxury vehicle tax for the first five months of its operation by about 80 percent. The Ghana Revenue Authority was able to rake in about a fifth of the 104 million cedis target from the tax. The Luxury vehicle tax was introduced by government in 2018 to help…
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American Airlines extends Boeing 737 Max flight cancellations
American Airlines is extending the cancellation of its Boeing 737 Max 8 flights from June until mid-August. The move is to “provide confidence” to customers during the peak summer travel season, the airline said in a letter. Last month, 737 Max aircraft were grounded worldwide following fatal crashes involving Ethiopian Airlines and Indonesia’s Lion Air.…
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Ken Thompson downplays IMF, World Bank growth projections for Ghana
The Chief Executive Officer of Dalex Finance, Kenneth Thompson has downplayed the significance of the IMF and World Bank projections for Ghana’s economy. The IMF and the World Bank have projected a growth rate of 8.8 percent and 7.6 percent respectively for Ghana’s Economy, making it one of the fastest growing economy in the world…
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British Airways commits £6.5 billion to service delivery
British Airways, flag carrier of the United Kingdom has committed £6.5 billion to improve its services to clients and customers. The investment, which will see the airliner take delivery of new aircrafts, updated cabins, focus more on services and increase destinations, is part of the company’s 100-year anniversary. The company also indicates that as part…