Category: Business
-
VRA debt owed Ghana Gas hits $735 million
Management of the Ghana Gas Company has revealed that the Volta River Authority (VRA) owes the company 735 million dollars. The debt was incurred as a result of VRA’s inability to pay for gas supplied to power its thermal plants. The development according to Ghana Gas is affecting its financial status. Speaking at a press…
-
GRA intensifies education to increase tax collection in informal sector
The Ghana Revenue Authority has stated that it will intensify education to increase tax collection from the informal sector. The informal sector constitutes 70 per cent of the economy but just two per cent of them pay their taxes. The authority also revealed that their latest checks on tax payment showed that only 1.5 million of the expected six…
-
Minority group in parliament unhappy about recent power outages
The Minority Spokesperson on Mines and Energy, Adam Mutawakilu has expressed concern about the recent wave of power outages across the country. Sections of Ghanaians especially on social media, have in the past week complained about the incessant power outages in their neighborhoods. Some have been questioning if the popular phenomena of load shedding locally called ‘Dumsor’…
-
Sacked GCB workers threaten to go to CHRAJ
Some ex-workers of defunct UT and Capital Banks who were absorbed into GCB Bank, have threatened to go to the Commission on Human Rights and Administrative Justice (CHRAJ) to be reinstated after their contracts were terminated by the Bank. According to them, their layoff is inhumane and will negatively impact their livelihood as well as…
-
IES urges Nana Addo to resolve GNPC CEO Board Chairman impasse
The Institute of Energy Security (IES) has urged President Akufo-Addo to step in and resolve disagreements between two leaders at the Ghana National Petroleum Corporation (GNPC). IES insists the turf war between the CEO and the Board Chairman of the company has the potency to fuel a weak front in Ghana’s negotiation with independent oil…
-
Most banks require initial deposit to open a savings account
Data released by the Bank of Ghana has shown that you will need to make an initial deposit with most banks to open a savings account in Ghana. The data released in January this year shows that even though you will need no initial deposit to own a savings account you will be required by…
-
Ghana’s oil production estimated to go up substantially
Aker Energy ASA has confirmed a significant offshore resource base in Ghana and has committed to scale up new development in the Deepwater Tano Cape three points block (DWT/CT). A Government of Ghana delegation led by Finance Minister, Honourable Ken Ofori-Atta, Wednesday announced to investors in Oslo, Norway, that overall crude oil production from Ghana…
-
GCAA starts investigations into extortion, coercion at KIA
The Ghana Civil Aviation Authority (GCAA) has commenced an investigation into some reported extortion of money on passengers at the Kotoka International Airport(KIA). The authority described the alleged acts as highly unprofessional, unethical and unacceptable. A statement copied to Citi Business news assured that the Ghana Airports Company Ltd has been directed to put in…
-
Communications Ministry, other parties to sign MoU on MoMo data to Kelni GVG
The Communications Ministry says it has reached an agreement with the Finance Ministry, Bank of Ghana and the National Communications Authority on which aspects of mobile money data will be released to Private Contractor, Kelni GVG. The Communications Ministry last year requested that the BoG released volumes and values of mobile money transactions to Kelni…
-
Airbus scraps A380 superjumbo jet as sales slump
European aircraft manufacturer Airbus has pulled the plug on its struggling A380 superjumbo, which entered service just 12 years ago. Airbus said last deliveries of the world’s largest passenger aircraft, which cost about $25bn to develop, would be made in 2021. The decision comes after Emirates, the largest A380 customer, cut its order. The A380…