Category: Business
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We’re committed to delivering value — Axis Pensions Group
Axis Pensions Group has assured its customers that the firm would continue to deliver value it’s stakeholders in line with its commitment. The group, which is the second biggest pensions administrator said while the Coronavirus disease was impacting negatively on the wider economy, measures were in place to ensure that the pandemic does not affect…
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OPEC adjusts oil demand to 8.9m bpd as uncertainty cloud extension of production cuts
The Organization of the Petroleum Exporting Countries (OPEC), on Tuesday, July 14, revised downward its world oil demand in 2020, to an estimated 8.9 million barrel per day (bpd) adjusting it up by 0.1 million bpd against last month’s projection. OPEC’s projections enclosed in its July Monthly Oil Market Report, comes amid uncertainties clouding the…
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Nigeria’s local airlines risk collapse as load factor declines
Exactly a week after commercial airlines resumed flight services on Lagos-Abuja route, local airlines are struggling to sustain operations and meet cost as load factor hovers around 40 per cent. The day-one optimism of about 70 per cent traffic across some of the local carriers has waned. Some of the operators complained about traveler apathy,…
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Prosecutions will begin in August – Receiver for defunct Microfinance & S&Ls firms
The Receiver for the defunct 347 Microfinance Companies and 23 Savings and Loans Companies and Finance Houses, Eric Nana Nipah, says the government is not only interested in recovering assets and paying depositors, but will also commence prosecutions from August this year. In an interview with Citi Business News, Mr. Nipah, who has assured a…
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Travel & Tour operators lament massive losses over air travel restrictions
As one of the sectors most affected by the COVID-19 pandemic, aviation, is yet to pick up, some operators in Ghana’s Travel and Tour industry have been speaking to Citi Business News about the impact on their operations. This industry, which is a link between travelers and airlines, has literally come to a standstill, as…
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COVID-19: Cold Store operators complain about reduced poultry imports
Some vendors of frozen meat, poultry and fish, usually imported into the country, have expressed concern about a possible threat to their business due to reduced importation caused by the COVID-19 pandemic. The traders say their businesses have taken a nosedive, and are worried the situation may worsen if the pandemic persists. The Covid-19 pandemic…
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COVID-19: 236 local oil & gas workers rendered jobless; more to follow
Some 236 Ghanaian employees in the oil and gas sector have lost their jobs whereas others have taken pay cuts since May this year, due to the impact of the COVID-19 pandemic on global oil production. This is just a fraction of the about 2,000 Ghanaian employees in the sector, out of which nearly a…
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Receiver to pay all depositors of defunct Microfinance & S&Ls firms by end of July
The Receiver of the defunct 347 Micro Finance Companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says customers who have not received their claims, should be able to access them by the end of July this year. According to Mr. Nipah, he has already paid about 96% of customers, and is hopeful…
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Why refined products standard is critical to Africa
A move by the African Refiners & Distributors Association (ARA), and the African Union (AU), to ensure common standard for the importation and refining of petroleum products on the continent remains critical to trade, environment and the economy of the region, stakeholders said, Wednesday. Under the plan, Africa is expected to adopt harmonized AFRI Clean…
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Okra Farmers in Atebubu lament low patronage; blame it on COVID-19
Okra farmers at Atebubu in the Atebubu-Amantin Municipality of the Bono East are blaming the low patronage they are recording on the impact of the COVID-19 disease in Ghana. The farmers, who are worried about the challenges they may face in paying back loans they contracted to boost production, are thus appealing to government for…