Category: Government
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NIC undertaking due diligence in insurance industry
The National Insurance Commission(NIC) has announced that is undertaking due diligence in the insurance sector to prevent it from entering into a crisis. There have been calls by industry watchers asking the commission to restructure the industry. The commission says it will soon announce new regulatory reforms which will be transparent and effective. In an …
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Gov’t urged not to abandoned old projects under 1D1F
Government has been cautioned against favoring new business ideas over already existing businesses in its implementation of the one district one factory(1D1F)policy. For some stakeholders support for already established businesses is critical to the success of the 1D1F policy. But how much focus should government put on already established businesses as it implements the policy.…
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![Contractors shun Ghanaian tile installers for Togolese artisans [Audio Report]](https://citibusinessnews.com/wp-content/uploads/2018/09/tile-1.jpg)
Contractors shun Ghanaian tile installers for Togolese artisans [Audio Report]
Ghanaian tile installers have bemoaned the growing competition they face from Togolese residents in the country. The installers say their job is being threatened by the Togolese as they are preferred over them due to their charges. But what is accounting for this development and how important are tile installers in the housing industry? Jessica…
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Pay depositors’ cash before winding up – BoG to operators
Financial companies seeking to wind up their operations voluntarily yet are unable to meet their debt and other obligations in full within a year, risk imprisonment. That is but one of the cautions the Bank of Ghana has issued in its latest directive on voluntary winding up of banks and specialized deposit taking institutions. The…
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MTN’s presence boosts stock market’s capital to GH¢65bn
The total value of the Ghana Stock Exchange has reached 65 billion cedis. It follows the successful listing of MTN on the stock market, on Wednesday [September 5, 2018]. As a result, the telecom company has started trading its shares on the Ghana Stock Exchange. MTN concluded its IPO in July which allows the public…
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Pre-Harvest event to highlight ‘Planting for Food and Jobs’
The 8th Pre-harvest Exhibition and Conference, which is slated for 3rd to 5th October, will feature workshops on ‘Planting for Food and Jobs’, the government’s flagship programme aimed at boosting agriculture; the role of the youth in agri-business; and using new technologies to improve agriculture output. This year’s edition, which will be held at the…
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Receiver sues uniBank shareholders for GHC5.7 billion
The Receiver for uniBank, Nii Amanor Dodoo has sued the 17 shareholders of the now-defunct bank over the repayment of a GHC 5.7 billion debt. The GHC 5.7 billion debt, according to the receiver, was left by the shareholders. The plaintiff, Nii Amanor Dodoo, contends that the defendants “have breached their duties as directors of uniBank…
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Fake electrical gadgets: Retailers indict Standards Authority
The Ghana Electrical Dealers Association (GEDA) has strongly refuted the report by the Ghana Standards Authority (GSA) that 96 % of electrical products sold on the market are substandard. This follows an exercise by the GSA which showed that only 7 out of the 204 electrical items they tested on the market were of standard.…
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MTN to list on Ghana’s stock market today
MTN is to list proceeds from its Initial Public Offering (IPO) on the Ghana Stock Exchange later today [September 5, 2018]. The company, in July, concluded its IPO which is to allow it cede thirty-five percent of its operations to the public. The IPO targeted 3.5 billion cedis, but it was able to raise 1.146…
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Standards Authority sets bribery rules with new committee
The Ghana Standards Authority in collaboration with the Ministry of Trade and Industry has inaugurated a 22 member committee to oversee the Anti-bribery System Standard in Accra. The Committee’s mandate is to study the International Standard Organization (ISO) 371001 system to determine if it can be adopted for the country as a standard against bribery…