Category: Business
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Asanko Gold wins Mining Company of the Year
Asanko Gold Ghana has been named as the Mining Company of the Year 2017. It was awarded at the annual Ghana Mining Industry Awards Ceremony last Friday [November 30, 2018]. Asanko Gold Ghana also picked award for the “Best Performer in Innovation” Awards. Congratulating the team, Peter Breese, President & CEO of Asanko Gold Inc,…
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![What everyone should know about credit cards [Article]](https://citibusinessnews.com/wp-content/uploads/2018/12/credit-cards-1.jpg)
What everyone should know about credit cards [Article]
For many people, the use of a credit card as a financial instrument, is met with some amount of apprehension. Justified or not, a lot of these apprehensions are borne out of a lack of an understanding and a complete appreciation of a credit card, how it differs from other cards and the benefits it…
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24 million dollars revenue loss at TOR false—Management
The Tema Oil Refinery (TOR) has described as ‘false’ a publication by the Institute of Energy Security(IES) that the refinery is incurring losses to the tune 24 million dollars. Management of TOR in a press statement issued on December 3rd, 2018 said the projections by IES which concluded that the refinery was making losses due…
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GOIL reduces fuel prices below 5 cedis per litre
Ghana Oil Company Ltd, GOIL, has reduced fuel prices at all its retail outlets. For now, Super XP is selling at 4.98 cedis per liter while Diesel XP is selling for 4.98 cedis per litre. The reduction, which is in line with the drop in international Petroleum prices and relative stability of the Cedi takes…
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Retain part of your earnings in Ghana—BoG to mining companies
The Bank of Ghana (BoG) has reiterated calls for mining companies to abide by the retention agreement to help retain some foreign currencies in the country. The agreement is aimed at preventing mining companies from keeping all their earnings outside the country after selling their products. Speaking at the 4th Ghana Mining Industry Awards, Governor…
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Ghana needs more investment in petroleum upstream sector—Tsatsu Tsikata
A former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) Tsatsu Tsikata has called for more investment into Ghana’s upstream sector. According to him, the sector holds the potential to significantly reduce the country’s unemployment level. Since the promulgation of the Local Content and Participation Regulation LI 2204, about 12,000 Ghanaians have been…
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BoG sets new rules on related-party lending by banks
The Bank of Ghana has disclosed the full implementation of the directive on financial holding companies, next year [2019]. The Governor of the central bank, Dr. Ernest Addison maintains that it will solidify the regulator’s efforts to sustain the gains so far made in the financial sector. Addressing the Annual Dinner of the Chartered Institute of…
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Passion Air starts Accra-Takoradi flights
Patrons of domestic flights from Accra to Takoradi and vice versa, now have an alternative service. It follows the commencement of flights by Passion Air. The route has until now been served by only Africa World Airlines. The coming on-board of Passion Air forms part of the airline’s plan to meet the needs of as…
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Asanko Gold adjudged Mining Company of the Year 2017
Mining company, Asanko Gold Ghana Ltd has been adjudged Mining Company of the Year for at the 4th Ghana Mining Industry Awards. The company was named as the winner due to its fiscal performance, Corporate Social Investment, technological innovation, local content, environmental management and health and safety records in 2017. Asanko Gold also won the…
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SSNIT lost no money in 5 collapsed banks—Director General
The Director General of the Social Security and National Insurance Trust Dr. John Ofori-Tenkorang has disclosed that even though SSNIT had shares in four out the five banks that were collapsed into the Consolidated Bank Ghana Limited, it made no losses. This he said was due to securities it had which allowed SSNIT to easily…