Author: Pius Amihere Eduku
-
Infinix launches new S4 series
Transsion Technologies Limited, manufacturers of Infinix phones, has introduced the new Infinix S4 – the latest of the S series – onto the Ghanaian market. In a grand event, dubbed “Empower the Infinity in You” held in Accra, the launch saw key stakeholders and Infinix enthusiasts attend. Commenting on the benefits of the new products,…
-
ESLA PLC accrues GH¢5.9 billion in assets
The total assets accruing to the Energy Sector Levy Act (ESLA PLC) increased by 2.5% for the first quarter of 2019 compared to the same period in 2018. According to the unaudited financial statement of ESLA PLC, the figure increased from 5.76 to 5.9 billion cedis for the period spanning January to March this year…
-
Mobile money fraud: Police, telcos seek review of prosecution process
The Cyber Crime Unit of the Ghana Police Service is advocating a possible review of the current process in investigating and prosecuting fraud cases in mobile money transactions. The security agency believes the current procedure could partly be blamed for the seeming lack of interest for victims to report instances of fraud hence increase in…
-
Public sector pensioners decry meager SSNIT benefits
As Ghana joins the rest of the world to mark International Labour Day on May 1, 2019, some pensioners retiring from the public sector want the managers of the Social Security and National Insurance Trust (SSNIT) to modify their operations to improve the living conditions of beneficiaries. The pensioners tell Citi Business News the meager…
-
Electronic procurement system to save Ghana 100 million dollars annually
Government is expected to save up to US$100 million annually following the introduction of an electronic platform for procurement services within the public sector. Some experts have indicated that procurement breaches constitute about 90% of corruption cases in the country. In order to control this, the government has launched a digital platform for the tendering…
-
MTN pays 17 million cedis as interests on mobile money
MTN Ghana has commenced payment of 17.1 million cedis to 10,630, 175 customers as interest earned for the first quarter of 2019. The payments commenced on Sunday [April 28, 2019]. A statement from MTN to Citi Business News said the 2019 first quarter payments brings to over 156.2 million cedis in interest paid to Mobile…
-
US Exim supports Ghana’s 1 district, 1 factory with $300m facility
The Export-Import bank of the United States and the Ghana Export-Import Bank have signed an agreement to finance the export of US produced goods and services for Ghana’s “one district, one factory ” program. The 300 million dollar loan facility from the US Exim bank will be given to qualified Ghanaian Small and Medium sized…
-
Fidelity bank records GH¢164m in profits for 2018
Fidelity bank posted a profit after tax of 164 million cedis in 2018. This is 82 percent higher compared to the previous year’s performance. Within the period, the bank also worked to reduce its exposure to impairment by 17 percent. The management attributed the development to its strengthened credit risk policies. Speaking to Citi Business…
-
PDS cuts power supply over routine maintenance
Power supply to some parts of Accra will be interrupted over the next three days. This follows routine maintenance works by the Power Distribution Services Company (PDS) on some of its supply stations. The exercise which started on Thursday [April 25, 2019] will end on Sunday [April 28, 2019]. On the first day, the areas…
-
Tullow Oil shuts down TEN FPSO for maintenance
Tullow Oil has announced a twelve day shutdown of the Floating Production Storage and Offshore (FPSO) operating on the TEN oilfields in the Western region. The exercise commenced on Monday (April 22, 2019) and it is to end on Thursday (May 2, 2019). A statement from Tullow to Citi Business News said the move is…