Category: Government
-
Interest rate on loan for KIA Terminal 3 project expensive – Kofi Adda
Ghana’s Aviation Minister Joseph Kofi Adda has described the interest rate for the loan secured for the construction of the Terminal 3 at Kotoka International Airport as too much. In 2015, Ghana Airports Company Limited (GACL) secured a US$250 million loan for the construction of Terminal 3 at an interest rate of Libor plus 8.5%. The…
-
BoG’s decision to release more dollars to stabilize cedi good—Economist
Economist Dr. Lord Mensah has described the decision by the Bank of Ghana (BoG) to add a minimum of $800 million to Ghana’s reserves in an attempt to stabilize the Cedi against the dollar as a step in the right direction. The cedi has weakened by 8.6 percent this year (2019). The Bank of Ghana says it…
-
Ghana’s import duty highest in Sub-Saharan West African – GUTA
The President of Ghana Union of Traders Association (GUTA), Joseph Kwaku Obeng has said Ghana charges the highest amount of levies on goods imported into the country within the Sub-Saharan region. Speaking in an interview on the Citi Breakfast Show on Tuesday, Kwaku Obeng said Ghanaian traders go to neighbouring West African countries to buy goods imported to…
-
Businesses take advantage of March to sell Made-in-Ghana goods
One major activity in the month of March is the celebration of Ghana’s Independence from British rule which on the 6th. The day is marked with significant historical and cultural celebrations to recount how the country attain freedom from colonial rule and also look forward to a prosperous future for citizens of Ghana. Over the…
-
Association of Contractors urges govt to keep to debt clearing timetable
This was confirmed by President of the Association of Building and Civil Engineering Contractors of Ghana (ABCECG), Prosper Yao Ledi. Mr. Ledi however tells Citi Business News he is hoping government follows through in paying all arrears. Mr. Ledi said government started paying contractors under GETFUND for projects executed last week. He confirmed to Citi…
-
COCOBOD cautions general public on fake recruitment exercise
Ghana Cocoa Board (COCOBOD) has expressed concern about the growing trend of recruitment scams by some individuals using the name of the company to dupe people. The company says it has uncovered over a hundred cases of recruitment scams in which individuals have been defrauded of up to GHC 5,000 Cedis with the promise of…
-
Cylinder Recirculation Model not abandoned—Hassan Tampuli
The National Petroleum Authority (NPA) has started meetings with stakeholders in the LPG value chain this week to deliberate on possible timelines for the implementation of the Cylinder Recirculation Model. Already, the National Petroleum Authority has said that it is ready to begin the implementation of the Cylinder Recirculation Model of LPG distribution in the…
-
Importers advocate use of Chinese Yuan to reduce FX pressures
The Business Community is pushing for an immediate introduction of the Chinese Yuan as a major trading currency in Ghana to reduce pressures on the Foreign Exchange (FX) market. This, according to business owners especially importers, will reduce the pressure on the dollar which accounts for the free fall of the cedi. China is Ghana’s…
-
Guinness Ghana launches promo to reward customers with a million cedis
Guinness FES has once again proven to be Ghana’s favourite stout with the launch of a national consumer promotion. The campaign is aimed at giving Ghanaians an opportunity to win a share of GHS1 million and millions in instant prizes including 620,000 free bottles of Guinness as the nation celebrates 62 years of independence. The…
-
FBN Ghana working with EXIM bank to invest in agric–CEO
FBN Bank Ghana Limited, has disclosed that it is working in close collaboration with the EXIM Bank to support businesses interested in entering the agricultural sector. According to the bank, it will use its experience of supporting such businesses from Nigeria to do same in Ghana. A number of banks in the country have over…