Category: Business
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ESLA pays GH¢500m interest to investors
Managers of the ESLA bond, have paid an estimated 228 million cedis as first gross interest payments to investors who bought into the 7 year bond of the sixbillion cedis energy sector bond. The bond, which formed part of the first tranche of the issuance, attracted an interest rate of 19 percent. A statement from…
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‘We’re just GHS50m away from meeting capital requirement’— Cal Bank MD
The Managing Director of Cal Bank, Frank Adu has disclosed that with the audited financials of the bank, the company is just 50 million cedis away from meeting the 400 million cedis capital requirement by end of December 2018. By this, Mr. Adu explained that the bank has been able to raise some 250 million…
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MTN to list on Stock Exchange by end of May
Telecoms giant, MTN, is set to issue its Initial Public Offer (IPO) by the end of this month. It follows the company’s ability to secure the necessary regulatory approvals to go ahead with the move. The IPO, means that the public will get the opportunity to own a part of the company which is leader…
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Top management staff still at post at Unibank
All top executives but the CEO of Unibank, are still at post at the bank despite the presence of new managers from auditing firm, KPMG. Dr. Kwabena Duffour Junior has been made to step aside as the new managers say his continuous existence creates a duplication of roles with the Head of the new management team.…
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KPMG denies dismissals at Unibank
Managers of Unibank, KPMG, have dismissed media reports that they have terminated the appointment of some contract workers of the bank following an assessment of the bank’s operations. About five hundred workers of the bank are reported to have their employment contracts terminated as their roles were no longer needed. The report suggested that the…
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IMF waivers to Ghana is a good indication –Prof. Quartey
The International Monetary Fund ((IMF) has granted some waivers to Ghana after its fifth and sixth review of the country’s economic performance under its programme with Ghana. A statement from the Fund said during the review, adjustments were made to the programme to ensure that it remains on track and to enhance its prospects of…
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GRA to set up int’l commodity prices monitoring desk
The Ghana Revenue Authority (GRA), has said that it is setting up a desk at its headquarters which is going to be dedicated to monitoring the prices of commodities on the world market. The desk, according to the GRA, will help it reconcile prices of gold and other commodities to that are reported by local…
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Fuel prices go up by 2% in May – IES
The Institute of Energy Security (IES) has predicted an increase in fuel prices for the first two weeks of May. The Institute tells Citi Business News prices will go up by about 2 percent barring an intervention from the National Petroleum Authority (NPA). “In the first pricing window for May 2018, we are expecting fuel prices to go…
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Lending rates to remain high despite drop in reference rate
Lending rates of commercial banks may not be declining anytime soon despite the change in the formula of calculating the lending rates of banks. That is the position of Economist, Professor Godfred Bokpin. His comments come despite a marginal reduction in the Bank of Ghana’s new reference rate for May. Meanwhile business associations have lauded…
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IMF completes 5th, 6th reviews: Approves $191m ECF for Ghana
The Executive Board of the International Monetary Fund (IMF) yesterday completed the fifth and sixth reviews of Ghana’s economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of the reviews enables the disbursement of about US$191 million, bringing total disbursements under the arrangement to about US$764.1 million. A statement from the…