Author: Michael Ogbodu
-
MTN explains why it suspended its Data Zone bundle
MTN Ghana, a subsidiary of Scancom PLC, has announced the suspension of its MTN Data Zone bundle effective April 05, 2023. Subscribers of the package had taken to social media to express their dissatisfaction with the development with many calling for its reintroduction. The company apologized to its customers for the lack of communication on…
-
COPEC worried over fuel shortage at GOIL filling stations
The Chamber of Petroleum Consumers (COPEC) is urging GOIL, a prominent oil marketing company, to resolve its supply issues as some customers have been left stranded at their outlets across the country. Citi Business News has confirmed that this situation has persisted for several days with some stations in the Northern part of the country…
-
African Union adopts Africa Prosperity Dialogues AfCFTA action plan
Heads of state of the Africa Union (AU) have adopted the Action Compact of the Africa Prosperity Dialogues (APD) in Ghana last January. The APD creates an annual platform for Africa’s private sector to network with public officials on the implementation of the Africa Continental Free Trade Area (AfCFTA), which aims to create a single…
-
Telecel Group acquires controlling stake in Vodafone Ghana, signaling new era of innovation and growth
Telecom giant Vodafone Group Plc has concluded the sale of its 70% controlling stake in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL) to Telecel Group, following regulatory approval and the agreement of the Ghanaian Government, as a minority shareholder. The move marks the most significant development for the Ghanaian telecoms firm since 2008 when…
-
Attorney General okays sale of Vodafone Ghana to Telecel
After scrutinising documents relating to the transfer of shares in the sale of Vodafone Ghana to Telecel, the Attorney General has given clearance for the transaction. The Finance Ministry had earlier written to the Attorney General with a request for a review of all relevant transaction documents on the transfer of 70 per cent majority…
-
Government finally makes progress on Debt Exchange Program
With barely 24 hours to the end of the deadline for the Domestic Debt Exchange Program, the government seems to have made significant progress in building consensus for the policy. The DDEP was initially met with stiff opposition when it was first introduced but it appears the dust is gradually settling on the issues. The…
-
Africa loses $88bn annually through illicit financial flows – Akufo-Addo
President Nana Akufo-Addo has called for the use of tax policies, among others to check illicit financial flows out of the continent. The president said illicit financial flows cost Africa close to 100 billion dollars which denies the continent the needed resources to facilitate growth and development. Speaking during the closing session of the maiden…
-
We will not layoff Vodafone staff – Telecel
Management of Telecel group has assured the staff of Vodafone of no layoffs as it takes over the company. This follows the National Communications Authority’s approval for the transfer of the 70 per cent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V. to Telecel Group. Since news broke…
-
Petrol to sell for GHS15 in February – IES
The Institute of Energy is projecting Petrol will retail for about GHS15 per litre in the next pricing window of February. This according to the institute is due to the about 10 % depreciation of the cedi against the U.S. Dollar coupled with the price of Gasoline and Gasoil increasing by approximately 14% and 7.6%,…
-
Government and Association of Banks reach agreement on DDEP
Finally, there is an agreement between the government and the Ghana Association of Banks over the Domestic Debt Exchange Program. The Association had earlier instructed commercial banks to hold off on approving the revised debt exchange offer until its members’ needs were satisfied. They claimed that the key reason for this was the lack of…