Category: Business
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Customers frustrated over inaccessibility to cash at Beige bank
Fixed deposit account holders of defunct Beige bank are still unable to access their matured investments from the company. The issue comes despite the expiration of the ten day suspension of withdrawals from the said accounts. The Managers of the Consolidated bank on August 9, 2018 put a hold on all withdrawals of fixed deposit…
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Consolidated Bank slashed our allowances by 60% – Former Beige employee
A former staff of defunct BEIGE Bank, has revealed that Consolidated Bank Ghana Limited slashed their allowances by over 60 percent. Speaking on the Citi Breakfast Show on Tuesday, she said they were shocked when they found out that such a considerable margin had been slashed from their allowances. “Our salaries were paid. We were…
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PC creates platform for local companies at ONS 2018
The Chief Executive Officer of the Petroleum Commission, Egbert Faible Junior has indicated that the commission is creating a platform for local indigenous companies to partner with international firms to expand Ghana’s petroleum upstream sector. The move, according to him, will also help Ghanaian companies to enter into joint venture deals with international companies to…
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Classify $2bn bauxite barter deal as a loan – Dr. Lord Mensah
Economist Dr. Lord Mensah has backed calls seeking that Ghana’s $2bn bauxite agreement with China, be classified as a loan. His view follows the Minority in Parliament’s move to petition the International Monetary Fund (IMF) on the matter. The side is seeking that the Fund determines to decide whether the 2 billion dollar Chinese deal…
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CTN row: Shippers bemoan drop in revenue
Shipping lines are cautioning of massive drop in government’s revenue for the rest of the year if the row over the implementation of the Cargo Tracking Notes (CTN) is not resolved. The shippers complain of drop in cargo which is affecting their operations. The tussle over the implementation of the Cargo Tracking Notes (CTN) has…
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Maritime imports exceed exports in 2018 first half
Ghana’s maritime imports continue to be dominated by commodities like cars, meat, second hand clothing, among others. Figures from the Ghana Shippers Authority show that the total volume of maritime imports for the first six months of this year, reached 7.15 million metric tonnes. This is up compared to the 6.75 million metric tonnes recorded…
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Domestic airfares witness downward reviews
Patrons of domestic air transport are beginning to witness some downward reviews in airfares for some routes. For now, it is unclear whether the competition in the industry is leading to the reviews or an effect of low demand. Already, aviation authorities are hopeful new entrants will drive competition and eliminate the monopoly in the…
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Fidelity Bank excites customers with ‘Switch & Smile’ campaign
In their quest to give more value to existing and potential customers and put smiles on the faces of their customers, Fidelity Bank, Ghana’s largest privately owned Bank, has unveiled an exclusive value-driven campaign dubbed ‘Switch & Smile’. The ‘Switch & Smile’ Campaign which is aimed at making salary accounts attractive and valuable, will run…
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Ecobank meets GH¢400 minimum capital
Ecobank Ghana has announced that it has met the Bank of Ghana’s new minimum capital requirement for banks. The bank achieved this by transferring 190 million cedis from its income surplus to the stated capital. This means that its capital is now at 416.6 million cedis. Ecobank initially declared at its AGM in May 2018…
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Banking consultant advises bankers over poaching
The culture of aggressively recruiting talented employees from competitors also known as poaching in the banking sector, is expected to continue despite the ongoing crisis in the industry. That is the assertion of Banking Consultant Nana Otuo Acheampong. With as many as 15 banks still striving to meet the deadline for the Central Bank’s minimum capital requirement…