Author: Pius Amihere Eduku
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Fuel under-delivery: Oil Marketing Companies apologise to consumers
The Association of Oil Marketing Companies (AOMCs) has apologised to consumers who may have been affected by under delivery of fuel at various pumps. The Association is however assuring of working closely with its members to ensure the situation does not recur. A statement issued by the AOMCs on the matter further said that the…
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SEC probes operations of Golden Empire Legacy Limited
The Securities and Exchange Commission (SEC) has disclosed to Citi Business News that it is investigating the operations of Golden Empire Legacy Limited which is involved in the trading of gold. The Director General of the SEC, Daniel Ogbarmey Tetteh says the company has not been licensed by the outfit though it offers returns on…
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MTN launches Africa’s first artificial intelligence service for Mobile Money
MTN Group has announced the launch of Africa’s first Mobile Money (MoMo) artificial intelligence service or “chatbot”. The chatbot went live in Ivory Coast in May and will be rolled out across MTN’s MoMo footprint in the next few months. The artificial intelligence mobile money “assistant” enables customers to engage with MTN’s MoMo services, including…
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Kwame Osei-Prempeh is new acting Managing Director of Goil
The Board of Directors of Goil Company Limited has appointed Kwame Osei-Prempeh as the acting Managing Director and Group Chief Executive of the company. His appointment took effect on Monday, June 3, 2019. A statement from Goil and signed by the Public Relations Manager, Robert Kyere confirmed the appointment. Mr. Osei-Prempeh has been a Board…
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Achieving revenue targets must transcend staff reshuffle — Tax expert tells GRA
Tax Analyst with Ali Nakyea & Associates, William Demitia is urging the government to tackle the fundamental issues that hinder revenue mobilization if it is to achieve set targets for this year and beyond. His comments come on the back of a rotation exercise carried out at the GRA which has affected more than one…
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Former Republic Bank MD Asare Akuffo passes on
Former Managing Director of Republic Bank, Asare Akufo has died. He said to have died yesterday, a source close to the family told Citi Business News. Mr. Asare Akuffo was the MD of Republic Bank, formerly HFC Bank, for close to 10 years. His contract with the bank ended in June 2015 which saw him…
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Microfinance clean-up: Receiver to pay creditors within a month
All persons entitled to claims from any of the collapsed microfinance companies should expect payment at least from the next one month. It will however follow the completion of validation for such claims by the Receiver, Eric Nana Nipah of PricewaterhouseCoopers (PwC). The latest directive was contained in a statement issued by Mr. Nipah. Per…
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COCOBOD seeks US$2billion bond to clear ‘legacy’ debts
The Ghana Cocoa Board (COCOBOD) has disclosed its long term plan to issue a bond to correct the books of the company. The industry regulator believes the move should help it renew confidence amongst its lenders and sustain its role in developing Ghana’s cocoa sector. The bond is expected to raise about 2 billion dollars…
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COCOBOD closes purchases for 2018/19 main crop season
The Ghana Cocoa Board will on Thursday [May 30, 2019] cease its purchases of cocoa beans for the 2018/19 main crop season. The decision was contained in a statement by the sector regulator to Citi Business News. COCOBOD said that it will however allow Licensed Buying Companies (LBCs) to obtain returns from up country centres…
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Policy rate: Be measured with expectations of drop in interest rates – Prof. Quartey
Economist with the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has maintained that business may have to be measured with their expectation of a drop in interest rates despite the central bank’s decision to keep the policy rate unchanged at 16 percent. The Monetary Policy Committee (MPC) at the end of…