Category: Business
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Gov’t defends measures to halt cedi depreciation soon
The government has maintained that it has put in place robust measures to halt the free fall of the cedi in the coming weeks. According to Dr. Gideon Boako, Spokesperson for the Vice President, Dr. Mahamudu Bawumia, efforts to reduce inflation and increase the availability of foreign reserves, point to a foreseeable halt in the…
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Cedi depreciation eroding all our profits—GUTA to gov’t
The Ghana Union of Traders Association (GUTA) is pleading with government to put in the necessary measures to stabilize the cedi from further depreciation against the dollar. According to the traders, the recent depreciation of the cedi against the dollar has eroded their profits, since imports were made before the depreciation was recorded. The cedi…
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Depreciating cedi to negate fuel price drop – ACEP
The Executive Director of the Africa Centre for Energy Policy (ACEP), Ben Boakye has told Citi Business News petroleum prices at the pumps will not experience any significant drop in the coming weeks, even though crude oil price continues to drop on the international market. According to him, a continuous depreciation of the cedi against the…
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Port officials allay concerns over Joint Inspection
With only two weeks to the implementation of the joint inspection on July 1, 2018, port officials say they are set for the exercise despite concerns that the exemption of some agencies could pose health and security challenges. The joint inspection which was earlier scheduled to start in June, was rescheduled to make way for…
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Foodstuff prices to stay high despite drop in fuel prices – Esoko
Esoko Ghana has dispelled any possibility of a drop in food prices following the reduction in the prices of petroleum products. Prices of petroleum products were reduced in the second week in June with a second prediction of a two percent drop. Prior to this, statistics released by Esoko showed that prices went up as much…
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Fuel prices to drop again this week
The prices of petroleum products are expected to drop by about 2 percent this week. This is the indication from Citi Business News’ checks with players within the petroleum industry following developments on the global market. This will also be the second time in less than a week that fuel prices have been reduced this…
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We need an authority to propel Petroleum hub project—Amin Adam
Deputy Minister of Energy in charge of Petroleum, Dr. Mohammed Amin Adam, has defended calls for the setting up a special authority to oversee the management of Ghana’s Petroleum Hub project. Dr. Amin believes a dedicated authority will among other things facilitate the raising of the needed funds to develop the petroleum hub. The hub is expected…
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Oil marketers push for full employment under cylinder recirculation policy
The Association of Oil Marketing Companies, has stressed that it will push for full employment for its members under the cylinder recirculation module to protect the interest of LPG distributers. The assertion comes after the LPG Marketers raised concerns that the new cylinder recirculation policy will render them jobless if implemented. Already, the CEO of…
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Fintechs have 6 months to meet new cyber security standards—BoG warns
The Bank of Ghana (BoG) has urged all fintechs operating in the country to improve their cyber security systems to meet international standard requirements ahead of the passage of the Payment Systems and Services Bill by end of 2018. According to the central bank, the new law will take into account technology, innovation, and consumers’…
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Patrons empowered at #CitiBizFestival’s Sales Revolution
Citi FM/Citi TV’s two-day Sales Revolution ended in Accra on Friday at the Coconut Grove Regency Hotel. The about 130 participants of the Sales Revolution were empowered by sales experts, Maxwell Dodd and Mawuli Ocloo, who showed them keys to excel in their sales work and achieve their targets. The participants comprised sales personnel from…