Category: Business
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#CitiBizFestival: The Future of Fintech Summit starts tomorrow
The next outdoor programme on the calendar of the Citi Business Festival named ‘The Future of Financial Technology Summit’ will come off tomorrow[June 14, 2018] at the Swiss Spirit Alisa Hotel at 3pm. The event, will assemble players in the financial sector including fintechs, banks and a representative from the Bank of Ghana. Some of…
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Freight Forwarders to sue port officials over ‘unfair charges’
Freight forwarders in the country have initiated processes to seek legal action against shipping lines over what they say are illegal charges against them. The group is lamenting over fees they pay on weekends and holidays as part of demurrage. They are also unhappy, the shipping lines use a foreign interbank rate to charge them…
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Citi Business Festival: GhIPSS urges capping cash withdrawals at banks
The Ghana Interbank Payment and Settlement Systems (GhIPSS) has made a strong case for a cap to be placed on all cash withdrawals at banks. It follows appeals to reduce the use of cash to minimize the number of attacks associated with cash transactions. The government also hopes to achieve a cashlite economy by 2020. In…
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Cost of fuel could hit GHS5.50 by end of year—Former GNPC Boss
The continues depreciation of the local currency coupled with increasing crude oil prices on the international market could see fuel prices increase to 5 Cedis 50 pesewes per litre at the pumps by the end of the year, a former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alex Mould has warned. The…
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Gold Fields headlines WAMPEX 2018
As Gold Fields celebrates its 25 years of operating in Ghana, the company headlined this year’s West Africa Mining and Power Expo (WAMPEX 2018), a major forum that attracted over 1,400 mining and power industry professionals, as well as companies from more than 16 countries. Held at the Accra International Conference Centre, this year’s event…
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73% of Ghanaians working in vulnerable conditions—Report
A report published by the Trades Union Congress (TUC) has revealed that 73% of Ghanaian workers operate under vulnerable conditions. The report also points out that a majority of Ghanaian workers receive less than 2 dollars a day, and do not have any form of pension contributions. Out of the employed population of 11.21 million,…
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High anchorage charges making Ghana’s ports uncompetitive—Ship Owners
Ship owners have begun talks with port authorities to seek a reduction of what they describe as high anchorage charges for Ship to Ship Services at the Ports. The shippers are worried the high charges for trans-shipment services have rendered the country’s ports uncompetitive, forcing members to do business in neighboring countries. Currently, a 45,000…
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Speculation causing cedi depreciation—Economist
The recent depreciation in the cedi, relative to the U.S dollar could be due to speculative activities, Head of Economics Department at the University of Ghana, Prof. Peter Quartey has said. Prof. Quartey maintained that the speculative activities, coupled with the increase in the interest rates in the U.S may have influenced the decision of…
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Major OMCs reduce fuel prices
Some major Oil Marketing Companies (OMCs) have reduced their prices by 4 pesewas within the first pricing window of June. The reduction comes after a 3 percent increase in prices of fuel in early part of June. Earlier, checks by Citi Business News showed that a litre each of diesel and petrol were selling for…
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CFAO Ghana launches new Mitsubishi Eclipse Cross
CFAO Ghana Limited has outdoored the new Mitsubishi Eclipse Cross to the Ghanaian market. Speaking at the launch, a newly appointed Managing Director, Mr. Paulo Fernandes, the objective of CFAO Group is not only to sell, but also to offer customers a reliable and well-designed vehicle that goes beyond to offer mobility. “In fact, our…