Category: Business
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We don’t expect ban on setting up of LPG stations to be lifted – Bureau of Public Safety
The Bureau of Public Safety says it does not expect the ban on the construction of Liquified Petroleum Gas (LPG) stations in the country to be lifted. It says it rather anticipates the green light for the siting of LPG cylinder recirculation distribution points to be given. Chief of Party at the Bureau of Public…
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Unilever Ghana records 47% revenue growth in first half of 2021
Unilever Ghana PLC has witnessed a shift in its performance as its recent losses has reduced significantly by 60 percent from GHS16.8 million recorded in the first half of 2020 to GHS6.7 million in the same period this year. The company, for the 2021 half-year, has seen a 47 percent growth in revenue to GHS300…
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Banking clean-up: Government charged to retrieve locked-up cash from indicted persons
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has charged government to pursue and retrieve all monies from persons found culpable of taking monies from banks, following the banking sector clean-up exercise. Governor of the Bank of Ghana, Dr. Ernest Addison disclosed back in May 2021 that…
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![Construction industry still suffering as prices of building materials keep increasing [Video]](https://citibusinessnews.com/wp-content/uploads/2021/09/building-blocks.png)
Construction industry still suffering as prices of building materials keep increasing [Video]
For months now, prices of building materials in Ghana have seen a consistent surge, with no sign of respite soon. The price of cement, for instance, has increased by almost 43 percent between December last year and September 2021. The situation, according to analysts, is having a dire effect on the building industry. In this…
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Prof. Quartey cautions against a return to ‘dark days of banking’ in Ghana
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has cautioned against a return to the dark days of the banking industry in Ghana. According to him, the new board of the Bank of Ghana should among other things continuously assess the soundness of the industry to ensure…
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Peter Quartey hails Government’s approach to setting up Development Bank Ghana
Director of the Institute Of Statistical, Social And Economic Research, ISSER, Prof. Peter Quartey believes the government is on the right track with its approach in setting up the new Development Bank Ghana. The Development Bank according to the Director of the Financial Sector Division of the Ministry of Finance, Samson Akligoh is being set…
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1st Deputy BoG Governor proposes strategies to propel economic recovery
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has prescribed a number of remedies to aid the recovery of the local economy following the Covid-19 pandemic. Addressing a public lecture organised by the University of Ghana Business School Under the theme, “Re-Thinking Development Finance: Macroeconomic Management When The Love is Gone,”…
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Social mandate of DBG should not override commercial interest – Dr. Vera Fiador
A senior lecturer at the Department of Finance of the University of Ghana, Dr. Vera Fiador says even though the Development Bank Ghana (BBG) is being established with a social mandate of providing patient capital for specific sectors of the economy, Investment drawings from the bank must also be financially sustainable. DBG is being established…
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‘Only’ two million taxpayers in Ghana not enough – Deputy BoG boss
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari says it’s unsustainable for only two million taxpayers to carry the tax burden of the over 30 million Ghanaian population. Even though there are over 16 million users of the various mobile money platforms indicating financial activity for which taxes should be filed,…
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Akufo-Addo bans public institutions from allocating public lands
President Nana Addo Dankwa Akufo-Addo has directed that, henceforth, no public institution should deal in or allocate any land without the explicit approval of the Minister for Lands and Natural Resources. He said, “the days when public lands were dissipated without regard for public interest are over.” The President stated this when he inaugurated a…