Category: Business
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ACEP cautions GOIL on Exxon Mobil deal
The Africa Centre for Energy Policy (ACEP) has cautioned the Ghana Oil Company Limited (GOIL) to ensure that it puts in place the necessary measures to absorb any risk that may arise from its partnership with Exxon Mobil. GOIL is set to become ExxonMobil’s local partner as it begins full-scale exploration for oil in Ghana’s…
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Guyana, Ghana, and Tanzania to sign open skies air services agreement
Guyana is expected to sign Air Services Agreements (ASA) with Tanzania and Ghana later this month to pave the way for any airlines that might be interested in flying between Africa and South America, a senior official of the Guyana Civil Aviation Authority (GCAA) announced Wednesday. GCAA Director of Air Transport Management, Saheed Sulaman said…
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Finance Ministry to write off $141m GRIDCo debt
The Finance Ministry may write off about 141 million dollars debt sitting on the books of GRIDCO. The debt was incurred after GRIDCO was formed out of the Volta River Authority. The debt has in recent times affected the operations of the state power delivery company, making it unattractive to investors. Speaking to Citi Business…
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AfDB to approve $600m loan for COCOBOD
The African Development Bank (AfDB) is close to approving a $600 million loan package for COCOBOD, a Reuters report has said. The funds will allow COCOBOD to build warehouses to stockpile beans and protect itself against price falls, AfDB president, Akinwuni Adesina said. Mr. Adesina explained that the financing would support initiatives planned by Ghana…
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Gov’t approves GOIL as partner for Exxon Mobil oil deal
Minister for Energy John Peter Amewu has announced that government has approved state owned Oil Marketing Company, GOIL as the minority partner for the Exxon Mobil deepwater offshore oil field. Mr. Amewu disclosed that government has“been notified by Exxon of their choice” and the Ministry of Energy has approved of the deal. He stated that…
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GCB Bank investigates unapproved withdrawal of customers monies
GCB Bank has begun investigations into circumstances under which monies were withdrawn from customers accounts by some unknown persons. Some customers of the bank have been complaining that unspecified amounts were withdrawn from their accounts without their authorization over the weekend. The incident is said to have occurred on Friday, when some customers randomly received…
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Consolidated Bank Ghana records five fraud cases
The Consolidated Bank Ghana(CBG) limited has recorded five cases of fraud within its first three months of operation. Management of the bank disclosed this when it met workers of the bank at a town hall meeting in Accra, last Saturday. According to the management, the culprits who were workers of the bank withdrew money from…
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![President Akufo-Addo opens Ghana Commodity Exchange [audio report]](https://citibusinessnews.com/wp-content/uploads/2018/11/nana-bell-1.jpg)
President Akufo-Addo opens Ghana Commodity Exchange [audio report]
President Akufo-Addo has inaugurated the Ghana Commodity Exchange(GCX) for the buying and selling of listed agricultural commodities in the country. The aim of the exchange is to establish linkages between agricultural and commodity producers and buyers to secure competitive pricing. There is more in the report. Speaking at the inauguration, President Akufo-Addo assured that government…
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CBG workers compete for limited slots
Workers of the Consolidated Bank Ghana (CBG) Limited are to compete against themselves in an interview process, for a slot if they are to continue to work with the bank after March next year. The workers numbering over a 1000 lost their jobs when UniBank, Sovereign, Royal bank, Beige bank and Construction bank were consolidated…
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Ghana’s Commodity Exchange to commence full operations today
President Akufo-Addo is expected to outdoor the official operations of Ghana Commodity Exchange (GCX) today, Tuesday, November 6, 2018. The GCX is a regulated market that links buyers and sellers of commodities to trade by rules while assuring the market of quality, timely delivery, and settlement. Minister for Information, Kojo Oppong Nkrumah who disclosed this…