Category: Business
-
#CitiBusinessFestival: Participants laud Ghana’s progress in building a cashless economy
Participants of the first Citi Business Festival virtual forum on have acknowledged the country’s efforts towards building a cashless society. Sharing their experiences at the forum which aired on Citi TV via zoom, they shared spoke of the successes chalked so far, as well as the challenges that need to be surmounted to ensure that…
-
#CitiBusinessFestival: Investment in cyber security critical for a formidable digital economy – Ebo Richardson
The Chief Enablement and Information Officer at Absa Bank, Ebo Richardson, has called for investment in cyber security and a collaboration between sector players to develop a formidable digital economy. Mr. Richardson made these statements during the 2021 Citi Business Festival’s first virtual forum on Citi TV, on the theme, ‘Digital Economy – Building a…
-
GUTA accuses banks of maintaining high interest rates despite drops in policy rate
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng is accusing banks in the country of running a cartel arrangement that keeps interest rates high despite reductions in the monetary policy rate. According to him, the lack of responsiveness of banks, when it comes to reacting to changes in the policy…
-
#CitiBusinessFestival: Fintech business now much easier in Ghana – IT Consortium CEO
The Chief Executive Officer of IT Consortium, Romeo Bugyei, has highlighted the critical role the Ghana Interbank Payment and Settlement Systems (GhIPSS) has played in Ghana’s fintech space since its inception in May 2007. Speaking on the Citi Business Festival virtual forum on Citi TV, Mr. Bugyei pointed out that the centralized infrastructure provided by…
-
#CitiBusinessFestival: Ghana has made progress in building cashless society – Archie Hesse
The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GhIPSS), Archie Hesse, believes Ghana is in a position to be recognised as one of the countries at the forefront of being a cashless society. “If I look at the journey 14 years on, as we speak, we have enough products and services…
-
Interest rates to drop in ‘two to three months’ following policy rate reduction – Consultant
Interest rates on loans for businesses and individuals should begin dropping in response to the lowering of the monetary policy rate by 100 basis points to 13.5% in May, 2021. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced the policy rate to 13.5% after it…
-
Fuel prices may rise marginally in first pricing window of June – IES
Consumers of petroleum products might be paying slightly higher prices for the fuel they purchase at the country’s various pumps as we enter the month of June. According to an analysis by the Institute of Energy Security (IES), the increase can be attributed to the 3.50% rise in price of Brent crude, together with the…
-
2021 Citi Business Festival takes off today
The 2021 edition of the Citi Business Festival starts today, Tuesday June 1, 2021, with an array of radio and TV programmes. The month-long festival of business events and on-air activities provides inspiration, business ideas and information for persons who are starting, building or growing their businesses. This year’s Citi Business Festival will feature virtual…
-
ExxonMobil pulls out of Ghana, abandons oil fields
US oil and gas company, ExxonMobil has pulled out of Ghana, abandoning its exploration activities in the Deepwater Cape Three Point Block in the Western Region. The company in a letter to the Minister of Energy, Matthew Opoku Prempeh, copied to the Petroleum Commission and Ghana National Petroleum Corporation, (GNPC) and sighted by Citi Business…
-
BoG cuts policy rate to 13.5%, first time since March 2020
In its quest to foster economic growth and ensure financial stability in response to developments on the local and external front, the Monetary Policy Committee, MPC, of the Bank of Ghana, BoG, at the 100th Monetary Policy Committee Meeting, has for the first time since March 2020 reduced the policy rate to 13.5 percent. This…