Author: Pius Amihere Eduku
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BoG declares no dividend for 2019 despite GH¢1.8bn profit
The Bank of Ghana posted a profit of 1.8 billion cedis for 2019. This is about twice the operating loss of 793 million cedis it recorded in 2018. This has largely been attributed to the strong performance the central bank posted for the year under review. For 2019, the Bank of Ghana’s income from fees,…
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#CitiBusinessFestival: Digital Analyst cautions businesses against impact of e-commerce fraud
The Digital Lead at PopOut, Maximus Ametorgor, has advised businesses in the e-commerce space to be wary of instances of fraud which has the potential to reduce patronage of their services. He explains that experiences by some customers with fraudulent persons pose threats to the uptake of e-commerce as a means to boosting one’s business…
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Hotels yet to make gains after partial easing of COVID-19 restrictions
It appears some hotels are yet to resume full operations a week after the parttial easing of the ban on public gatherings instituted to control the spread of COVID-19. Checks by Citi Business News at some hotels in Accra show that some facilities are reviewing their models to accommodate new businesses anytime soon. President Akufo-Addo…
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Order GWCL to stop billing us – Hotels beg Gov’t for ‘Free Water’
The Ghana Hotels Association has asked the Ministry of Tourism, Arts and Culture, to expedite discussions to get the Ghana Water Company Limited to stop charging its members for water they consume for the months of April, May and June. The hoteliers say the continuous imposition of the tariffs is draining the meager revenue of…
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Citi FM and Citi TV venture into farming
Citi FM and Citi TV have secured land for the organisations’ agribusiness initiative which will see the cultivation of some selected crops to encourage farming. The 50 acre land for farming; is located in the Akuapem North District in the Eastern. The land was secured with the support of the Municipal Chief Executive of Akuapem…
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Compensate importers for demurrage cost over UNIPASS challenges – GUTA to gov’t
The Ghana Union of Traders Association, GUTA, is asking government to engage shipping lines to waive charges on goods that may have passed their clearing dates due to unresolved technical issues with the UNIPASS system at the ports. Some freight forwarders at the Tema Port have in the past week complained about their inability to…
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![Hoteliers lament losses over impact of COVID-19 [Video]](https://citibusinessnews.com/wp-content/uploads/2020/06/Best-Western-Plus-Hotel.jpg)
Hoteliers lament losses over impact of COVID-19 [Video]
The coronavirus pandemic has wreaked a lot of havoc across many sectors of the economy including the tourism and hospitality industry. As the second half of the year begins, some hoteliers are still uncertain about what lies ahead. It is however emerging that some players in the industry have not been severely affected by the…
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Aker Energy to start phased development on Pecan oilfield
Oil producing company, Aker Energy has begun negotiations with the government of Ghana to commence the first phase of the development of the Pecan oil field. The company in a statement said that the move should culminate in the production of oil from Ghana’s fourth oilfield as soon as practicable. The announcement by Aker comes…
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Tomato records highest increase in price for May – Esoko
A survey of market prices of some selected commodities has shown that the price of cooking tomatoes recorded the highest increase in May 2020. The average price of a 72 kilogram crate of the commodity went up by almost 13% to record 933 cedis; from the 826 cedis it recorded the month before. According to…
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Put measures in place to tax digital economy – Tax Analyst urges GRA
Tax Analyst, Dr. Abdallah Ali Nakyea, has suggested to the Ghana Revenue Authority (GRA), to put in place the necessary measures to tax digital business transactions going forward. He says this should enable the Authority to increase its revenue sources in order to meet or exceed revenue targets. The outbreak of the coronavirus pandemic has…