Category: Business
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Ghana Standards Authority suspends EasyPass programme
The Ghana Standards Authority has stated that it has suspended the implementation of the EasyPass Programme. This follows a publication that the implementation of the programme will commence on May 1st 2018. According to the publication, the EasyPass Programme is aimed at ensuring that some selected products imported into Ghana meet the required standards to…
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President meets local banks over extension of recapitalization date
Citi Business News understands that the President, Nana Addo Dankwa Akufo Addo, has met some Managing Directors and Chief Executive Officers of local banks in the country to discuss the request for an extension in the deadline date of the minimum capital requirement for indigenous banks. The local banks are appealing for an extension of…
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GN Bank obtains $20m from OPIC
GN Bank Ghana Limited, a Groupe Nduom company has obtained $20 million funding from the Overseas Private Investment Corporation (OPIC) to support its $27 million expansion project. The project which began some three years ago, has already helped to address the challenges of access to safe banking and finance for poor and rural people across…
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Newmont deaths: Union demands benefits for contract workers
The Ghana Mine Workers’ Union has told Citi Business News it will not renege on its quest to seek improved working conditions for contract employees in the mining sector. The union maintains that the move should afford such workers all the benefits that are due full time employees and secure their welfare. The remarks follows…
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Baby Jet airlines to start operations by end of 2018 – GCAA
Baby Jet Airlines should commence commercial operations by the end of this year to drive competition in the aviation industry. This is the indication from the Ghana Civil Aviation Authority (GCAA). The comment comes days after it announced the start of another domestic airline soon. The aviation authorities are also upbeat about the situation due…
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Construction sector in danger as local contractors cry over delayed payments
Ghana’s construction sector may soon collapse if issues such as delayed payments to contractors are not addressed. This is the warning from the construction wing of the Association of Ghana Industries (AGI). The wing’s chair, Rockson Dogbegah argues that, the persistent delay in the payment for projects done for the government, has left majority of…
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Six persons die at Newmont Ghana’s Ahafo site
At least six persons have died with others sustaining various degrees of injury following an accident at Newmont Ghana’s Ahafo mine site. The incident occurred on Saturday April 7, 2018. Information available to Citi Business News indicates that the fatalities occurred when a reclaim tunnel roof collapsed on the workers who were engaged as part…
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Ghana to sell seven-year domestic bond next week
Ghana will sell a seven-year domestic bond next week with an indicated size of 750 million cedis ($168 million), sources close to the transaction said on Friday, according to Reuters. Order books will be opened on Wednesday with final pricing on Thursday and settlement on April 16, joint book-builder Barclays Bank Ghana said. Other arrangers…
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5 Ghanaian meals that may be going extinct
There are some things that only our forefathers will know. There are other things that our generation may know which generations to come will never know. How did we get here? How do we allow our traditions, culture and heritage go extinct? Only some things are deemed important to keep and remember while others are…
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“32 banks fail to comply with financial…”, author retracts
Credit consultant, Emmanuel Akrong has retracted a story published April 1, 2018 headlined “32 banks fail to comply with financial statement publication rules”. According to him, the story only tried to suggest practical ways of helping grow Ghana’s banking industry. “I am a consultant and my job is not to criticize but to provide suggested…