Category: Business
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Bawumia launches phase one of mobile money interoperability
Vice President Dr. Mahamudu Bawumia has launched the first phase of the mobile money interoperability system. Dr. Bawumia said this first step “would make Ghana one of the global leaders in the interoperability payments space.” It is hoped that the mobile money interoperability, which will be managed by the Ghana Interbank Payment and Settlement Systems (GhIPSS), will…
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Govt completes successful Eurobond roadshow
Government will in the coming days issue Ghana’s 2018 sovereign bond after a successful deal roadshow. The exercise, which seeks to raise some Seven Hundred and Fifty Million Dollars ($750M) of a budgeted One Billion ($1B) of new debt, has received rave reviews from international capital market investors, a statement copied to Citi Business News…
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Mine workers threaten legal action against redevelopment of Obuasi mine
The National Coalition on Mining, (NCOM) and the National Mine Workers Union are threatening to take a legal action against government should Parliament ratify an agreement before the House to allow a redevelopment of the Obuasi mine. Government and Anglogold Ashanti in February this year, signed a regulatory and fiscal agreement that will provide the…
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Dr. Mahamudu Bawumia opens Ghangeria Rising Conference
Vice President, Dr. Mahamudu Bawumia will be opening this year’s edition of the Ghangeria Rising Conference in Accra. The conference is scheduled for Thursday, 10th May, 2018 at the Kempinski Hotel Gold Coast City, Accra. It will assemble key investors, businessmen and women, policy makers and regulators to discuss trade, business and investment opportunities between Ghana and…
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Dr. Bawumia hits mining companies for exploiting Ghana
The Vice President, Dr. Mahamudu Bawumia has strongly indicated that government will not accept the instances where mining companies declare no profit yet engage in active production to avoid paying dividend to government. Dr. Bawumia who expressed disquiet about the development disclosed that mining companies operating in the country have since 2012 refused to pay…
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We must tax unused lands in prime areas—Senior Minister
Senior Minister Yaw Osafo Marfo has made proposals for unused lands held by private individuals to be taxed. According to him, the introduction of such taxes will reduce speculative activities in the acquisition of land. The Senior Minister bemoaned the act where individuals buy lands in prime areas of the city but refuse to develop…
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Ex Capital bank workers lament locked up providence funds
Former workers of defunct Capital bank are livid over what they say is the calculated attempt by their fund managers not to pay their providence funds. The disclosure comes despite the approval by the receiver of the joint purchase and assumption of UT and Capital banks, PricewaterhouseCoopers (PwC), for payment of such funds to the…
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Ex-workers of collapsed Capital, UT Banks to petition Nana Addo over benefits
Former workers of defunct UT and Capital banks have served notice they will petition President Akufo-Addo this week, over the delay in the payment of their severance packages. According to the former workers, after over eight months of being asked to go home due to the collapse of the banks, they have been adversely affected by…
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Uber yields to negotiation with drivers over concerns
Uber is set to engage its drivers to address their concerns on declining profits. The company has disclosed to Citi Business News it will engage the drivers to assess their concerns and arrive at a compromise. The response comes days after some disgruntled drivers of the transport service provider, embarked on a demonstration to protest…
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GCB Bank to publish 2017 financial results end of May
GCB Bank has announced that it will release its financial statement for 2017, by the end of May 2018. The bank says it will at the same time release the first quarter financial performance results for 2018. GCB Bank has been unable to comply with the Bank of Ghana’s directive asking all commercial banks to…