Category: General
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ARP Apex Bank makes financial improvement in 2018
ARB Apex Bank, the ‘mini’ Central Bank of the 144 Rural and Community Banks has announced that the bank recorded improvements in most of the important financial indicators in 2018. The bank disclosed this at its Annual General Meeting organized in Ho in the Volta Region. According to the financial statement of the bank, it…
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Single Spine Salary Structure review ‘long overdue’ – Austin Gamey
Labour Consultant, Austin Gamey has backed Organised Labour’s call for a review of the Single Spine Salary Structure. The General Secretary of Industrial and Commercial Workers’ Union (ICU), Solomon Kotei had made a strong case for the review, saying the re-engineering should provide non-discriminatory and fair employee compensation. Mr. Gamey on Eyewitness News supported this call, saying in view…
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$95m spent between 2013, 2016 without drilling a single oil well – Amin Adam
The Energy Ministry says none of the 13 petroleum contracts signed between 2013 and 2016 for oil exploration was operationalized. The Ministry says the said companies which were contracted by the former government to drill 14 wells spent only $95 million instead of the $890million they were supposed to have spent as stated in the…
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Govt officials signing bad energy contracts to be prosecuted
A new Energy Sector Reform Document yet to be approved by cabinet will allow for the punishing of officials who sign bad contracts in the energy sector. This, according to the Energy Sector Reform Committee will help reduce debts in the sector. Also in the document are recommendations to ensure that the energy sector debt…
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Govt will achieve IMF, World Bank growth projections—Ofori-Atta
Finance Minister, Ken Ofori-Atta has stated that Ghana will meet its 2019 growth projections set by the International Monetary Fund (IMF) and World Bank. Some analysts have questioned the significance of the 8.8 percent and 7.6 percent growth rate projections made by the IMF and World Bank for Ghana’s Economic growth for 2019, saying that…
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Amazon plans to shut online store in China
Amazon plans to shut its online store in China that allows shoppers to buy from local sellers as it downsizes operations in the country. The firm said it would no longer run the domestic marketplace from July, but Chinese shoppers will still be able to order goods from Amazon’s global store. It will also continue…
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Ghana cuts its cocoa crop forecast due to plant disease
Ghana cut its forecast for the current season’s cocoa harvest by 6 percent because of plant disease in its biggest growing region, according to two people familiar with the matter. The regulator of the world’s second-biggest cocoa producer lowered the production estimate for the annual crop through September to 850,000 metric tons, from 900,000 tons…
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FDA prevents unwholesome rice from entering Ghana
Citi Business News’ checks at the Food and Drugs Authority(FDA) has revealed that the Authority received an alert on some substandard rice that was being imported into the Ghanaian market from Myanmar. Officials at the FDA quickly moved to prevent the unwholesome rice from entering Ghana with the aid of the customs division and other…
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Ghana’s housing deficit hits two million – Housing Minister
Ghana’s housing deficit has hit 2 million units. This was revealed by the Minister for Works and Housing, Samuel Atta Akyea. By this, government would have to build 190,000 to 200,000 units of houses each year for the next 10 years to bridge the gap. This is expected to cost around US$3.4 billion for the…
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Ex-workers of defunct UT, Capital banks hopeful meeting with Labour Dept will be fruitful
Ex-workers of defunct UT and Capital Banks who allegedly had their contracts terminated by GCB Bank for not possessing the minimum qualification required to work with the bank, are hopeful a scheduled meeting between them, the management of GCB Bank, and the Labour Department will be fruitful. The ex-workers who maintain that the termination of…