Category: Government
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GCB Bank investigates unapproved withdrawal of customers monies
GCB Bank has begun investigations into circumstances under which monies were withdrawn from customers accounts by some unknown persons. Some customers of the bank have been complaining that unspecified amounts were withdrawn from their accounts without their authorization over the weekend. The incident is said to have occurred on Friday, when some customers randomly received…
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Consolidated Bank Ghana records five fraud cases
The Consolidated Bank Ghana(CBG) limited has recorded five cases of fraud within its first three months of operation. Management of the bank disclosed this when it met workers of the bank at a town hall meeting in Accra, last Saturday. According to the management, the culprits who were workers of the bank withdrew money from…
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ABL, Kasapreko to lose operational licenses for breaching Tax Stamp laws
Accra Brewery Limited (ABL) and Kasapreko Company Limited risk losing their operational licenses after it emerged that the companies were fixing tax stamps illegally on their products. For ABL, they were transferring tax stamps meant for its current production to its warehouses. By this, the company was requesting for more tax stamps and affixing them…
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![President Akufo-Addo opens Ghana Commodity Exchange [audio report]](https://citibusinessnews.com/wp-content/uploads/2018/11/nana-bell-1.jpg)
President Akufo-Addo opens Ghana Commodity Exchange [audio report]
President Akufo-Addo has inaugurated the Ghana Commodity Exchange(GCX) for the buying and selling of listed agricultural commodities in the country. The aim of the exchange is to establish linkages between agricultural and commodity producers and buyers to secure competitive pricing. There is more in the report. Speaking at the inauguration, President Akufo-Addo assured that government…
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Ghana’s Commodity Exchange to commence full operations today
President Akufo-Addo is expected to outdoor the official operations of Ghana Commodity Exchange (GCX) today, Tuesday, November 6, 2018. The GCX is a regulated market that links buyers and sellers of commodities to trade by rules while assuring the market of quality, timely delivery, and settlement. Minister for Information, Kojo Oppong Nkrumah who disclosed this…
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GCB begins instant cash issue
GCB Bank Limited (GCB) is instantly issuing its ATM Readycash card at selected branches across the country. These cards are chip-based and very secure and have come to replace the mag-stripe cards currently in use. In all 83 out of the 183 branches of the Bank, mostly in regional capitals, market centres and district capitals…
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FDA warns of fake products during Christmas
With a few weeks to the start of Christmas festivities in Ghana, the markets are expected to be flooded with a lot of imported products. The Food and Drugs Authority (FDA), in anticipation of the arrival of different types of goods, has cautioned importers and retailers in the country against exposing the general public to…
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UT Holdings, UT Logistics sued over refusal to pay loans
Offshoot of defunct UT Bank— UT Holdings and UT Logistics, have been sued by receivers of the bank, PricewaterhouseCoopers (PwC) for non-payment of some loans acquired before the collapse of the bank. According to the suit before an Accra High Court, an amount of GHc51 million and US$8 million respectively, were invested into UT holdings…
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Moringa invests $5M in Ghana’s B-BOVID to transform agribusiness
European impact investment fund specialized in agroforestry companies with strong environmental and social impact, Moringa SCA SICAR (Moringa), has partnered B-BOVID Limited, a Ghanaian agribusiness company. Created in 2004, B-BOVID Ltd is a national and United Nations (UN) award-winning farming and processing palm oil enterprise based on social entrepreneurship principles and agroforestry practices. The company…
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Prices of fuel drop marginally
Fuel prices have dropped marginally by a little over 1 percent at some Oil Marketing Companies (OMC’s) across the country. Citi Business News checks at the pumps this morning show that the top three OMCs, Goil, Shell and Total Ghana are selling both Petrol and Diesel at GHC 5.15 pesewas across the country. The reduction…