Category: Business
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NDK invasion of GLICO after court ruling mischievous—GLICO CEO
The Managing Director of GLICO General Insurance Limited, Andrew Acheampong-Kyei has described as mischievous an invasion by NDK Financial Services after a court ruling to attach properties of the company. According to him, the move by NDK Financial Services is aimed at tarnishing the image of the insurance company, since both parties are yet to…
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2018 International Trade Fair scores 50% success – Organisers
Organizers of the 22nd edition of the Ghana International Trade Fair have given this year’s edition of the fair, a fifty percent rating. The fair which began on February 28th and ended on 7th March 2018, saw about 600 exhibitors showcasing their goods and services. This is the first time the fair is being held in…
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Banker criticises basis for lifting adb’s suspension on GSE
Investment Banker, Mahama Iddrisu has said the decision by the Ghana Stock Exchange (GSE) to suspend the listing of ADB on the stock market was a hasty one. According to him, the GSE should have done due diligence before suspending adb from trading its shares. The Ghana Stock Exchange on Wednesday (March 7, 2018), suspended trading…
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GSE lifts suspension on adb
The Ghana Stock Exchange (GSE) has lifted a suspension it placed on the trading of shares of the Agriculture Development Bank (adb). In press statement issued by the GSE today [Third March,2018], and copied to Citi Business News advised the investing public to go ahead and work with bank. “With reference to Press Releases numbered…
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Brussels Airlines flies all-women to Ghana to mark International Women’s Day
On 8 March, flight SN289 with a 100% female crew takes flight to Accra (Ghana), where both the Brussels Airlines Country Manager and Station Manager are women. In the cockpit will be Captain Daniela and First Officer Marie. The service in the cabin will be managed by Veronique, Patty, Xandra, Isabelle, Maité, Ingrid, Caroline and…
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adb, uniBank saga: SIC-FSL did not pledge shares
Citi Business News is learning that SIC Financial Services Limited (SIC-FSL) has not pledged its shares in adb to uniBank in fulfilment of an earlier financial commitment. This is contrary to earlier reports suggesting that the company, SIC FSL is part of a consortium of shareholders of adb who have pledged their shares to indigenous…
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GRA targets GH¢500m revenue from Tax Amnesty
The Ghana Revenue Authority (GRA) has revealed that it seeks to rake in about 500 million cedis from the tax amnesty exercise it is conducting. The GRA also says the tax amnesty to defaulters which begun in January 2018 until September 2018, will allow all defaulters discharge their obligations voluntarily without fear of prosecution for…
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We’ve not taken over adb—uniBank
uniBank has denied reports that it has taken over adb. Earlier reports stated that uniBank has taken over adb after four shareholders of adb comprising Belstar Capital, Starmount Development company, EDC, as well as SIC Financial Services Limited, pledged their shares, proceeds, entitlement and voting rights to uniBank, giving it control over adb. The Chief…
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adb debunks takeover by uniBank
adb has denied media reports that uniBank has takeover the bank. Media reports on Wednesday,[3,7,2018] stated that four shareholders of adb, comprising Belstar Capital, Starmount Development company, EDC as well as SIC Financial Services Limited, have pledged their shares, proceeds, entitlement and voting rights to uniBank, giving it the power to takeover the bank. But…
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Govt must clear all debt by April–BDCs
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi has told Citi Business News members of the chamber are expecting government to clear the final part of debt owed them by next month. The total debt as at 2016 owed Bulk Oil Distribution Companies was estimated to have hit about…