Category: News

in Banking And Finance, Business, Government

Economist Professor Godfred Bokpin is calling for a policy that will limit the powers of government in appointing the head and Board of Directors of the Social Security and National Insurance Trust (SSNIT) to protect pension funds. President Akufo-Addo during the Workers Day celebration announced that the government will issue a 700 million cedis bond…

38 forex bureaux face closure by Bank of Ghana

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in Banking And Finance, Top Stories

The Bank of Ghana has threatened to close down forex bureaus that are not complying with its operational regulations. In a letter sent to the Forex Bureaux Association and sighted by Citi Business News, the BoG named 38 forex bureaus that were not complying with the central bank’s regulations. The affected 38 forex bureaux are…

Aker Energy did not make new oil discovery — Petroleum Economist

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in Economy, Oil And Gas

Petroleum Economist, Dr. Theophilus Acheampong, has said Aker Energy cannot be said to have made new oil discoveries rejecting claims made by policy think IMANI Africa at a recent press conference. IMANI Africa at a press conference last week had said that Aker Energy had made new oil discovery outside its original period for oil…

Contractors can no longer vary projects cost by more than 10%

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in Business, Economy, Government, TECHNOLOGY

Government has said it is no longer permitted for contractors in the public sector to vary the cost of projects awarded to them by more than 10 percent. The ceiling was captured in the new e-procurement initiative recently launched. The cap on the allowable cost for project variation comes after incidents of costs of projects…

Four banks line up to support businesses to access loans

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in Business, Economy

The Ghana Export Promotion Authority (GEPA) has facilitated a meeting between micro, small and medium enterprises and some four commercial banks to address challenges that businesses typically face in accessing credit. The authority’s intervention comes after exporters complained they were unable or face difficulties to access credit facilities from the formal banking sector. GEPA’s approach…

Former workers of Esich Life Assurance demand contribution made into Provident Fund

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in Banking And Finance, Business, Economy

Some former workers of Esich Life Assurance are pleading with the National Insurance Commission (NIC) to help them retrieve their contributions made into a Provident Fund while the company was operational. Esich Life Assurance was said to have links with defunct Capital Bank. The NIC has currently appointed an administrator for the company. Speaking to…

Gov’t clears GHS3.1bn pension fund arrears — Okoe Boye

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in Business, Economy

Member of Parliament for Ledzokuku Constituency, Dr. Okoe Boye, has revealed that the government has released more than GHS3 billion arrears in Tier-2 pension funds to fund managers. The MP speaking in Parliament said the funds held on behalf of its workers have finally been released to fund managers after several years of being in…

May Day: Oil workers call for fair salaries among expatriates and locals

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in Business, Government, Oil And Gas

As Ghanaians join the world to mark the Workers Day today, May 1, the Petroleum and Chemical Workers Union has called on government to enforce the equal-work for equal-pay sanctioned by the Labour Law. The Western Regional Relations Officer for the General Transport, Petroleum and Chemical Workers Union, Richard Hanson, speaking to Citi News during the May…

GRA launches policy to prosecute recalcitrant taxpayers

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