Category: Government
-
‘We’ll help our members to obey BoG regulations’—Savings and Loans Association
The Savings and Loans Association of Ghana has assured that it will do all it can to help its members abide by new rules that will be announced by the Bank of Ghana to protect the financial sector. The Bank of Ghana (BoG) has indicated that it is set to turn its attention on the…
-
First Sky Group expands operations in Ghana
The First Sky Group, owners of First Sky Construction, First Sky Commodities and Volta Serene Hotel has added two more subsidiaries to its conglomerates, namely, Serene Insurance and First Sky Bitumen Processing Limited. Serene Insurance, which is worth 20million cedis is the “New Face of Insurance”, poised to bring on board the Ghanaian Insurance Industry,…
-
No IPO after 4G acquisition – Vodafone CEO
Telecommunications giant, Vodafone Ghana, has disclosed that it has no plans to list on the Ghana Stock Exchange following its acquisition of the 4G licence from the NCA a week ago. The National Communications Authority (NCA) announced late last year that Vodafone was the only successful company to secure the 4G licence after a second bidding…
-
Ex UT, Capital bank workers to receive exit pay this week?
Former workers of Capital and UT banks are likely to receive their severance packages later this week if the Joint Receivers complete the processes on the modalities for payment. The representatives of the workers, that is, the Union of Industry, Commerce and Finance workers (UNICOF) are to meet the Joint Receivers for the payment plan. This…
-
![Banking crisis affects business of susu collectors [Audio report]](https://citibusinessnews.com/wp-content/uploads/2019/01/susu-collector-and-customer-in-ghana1-1.jpg)
Banking crisis affects business of susu collectors [Audio report]
It appears the banking sector crisis that led to the collapse of nine banks has trickled down to the micro level affecting the operations of Susu collectors. Interactions with some stakeholders in the susu collection business have shown that confidence in their operations is fast going down due to challenges in the financial sector that…
-
COCOBOD accuses Mahama of running down cocoa sector
COCOBOD has chided former President John Mahama for what it describes as a deliberate attempt to always “make false statements about COCOBOD and the cocoa industry”. COCOBOD in a press statement copied to Citi Business News accused Mr. Mahama of trying to run down the cocoa industry for political expediency. It stated that the development…
-
Aker energy to increase oil revenue by 15% by 2021
Ghana could be earning about 640 million dollars or (15%) in oil revenue by next the next two years with the coming on board of Aker Energy’s new production wells. The oil company has announced that its oil exploration works in the Deepwater Cape Three Points block has been successful as it shows oil quantities…
-
New company takes over ECG on February 1
The new entity that will assume the assets and operations of the Electricity Company of Ghana (ECG), Power Distribution Services (PDS) Ghana Limited is set to take over from the first of February this year. The move is expected to see the power distribution company receive some funds to expand its operations as well as…
-
Ghana must legislate against transfer mispricing–Tax analyst
Some Tax Analysts are pushing for a legislation that will ensure that government deals extensively with companies that involve in transfer mispricing. They insist the action remains a major challenge which has to be dealt with if government wants to attain its set revenue target for the year. Transfer pricing is the rules and methods…
-
Aker Energy makes successful oil discovery in Ghana
Aker Energy has announced that its oil exploration in the Deepwater Cape Three Points block in Ghana have been successful. The company explained that initial works done show that its Pecan4A well in the block could be holding some 450 to 550 million barrels of oil. This, the company said has paved the way for…