Category: News

in Banking And Finance, Government, Local Economy, Top Stories

Economist, Dr. Ebo Tuckson has urged government to as a matter of urgency implement the needed structural changes in the economy to strengthen the Cedi. His comment follows widespread concern from different sections of the public about the performance of the local currency against the US dollar and other international currencies. The Bank of Ghana…

BoG must provide guidelines to help sustain local banks–PEF

Mar 7, 2019

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in Banking And Finance, Government, Local Economy, Top Stories

The Private Enterprise Federation (PEF) is appealing to the Bank of Ghana to provide strategic guidelines with which local banks can become stronger to match up to the standard of the foreign banks. This, they believe will enhance their skills and capabilities in serving the nation. “Most of our financial institutions should be local ownership…

Interest rate on loan for KIA Terminal 3 project expensive – Kofi Adda

Mar 6, 2019

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in Government, Local Economy, Top Stories, Transport

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

Mar 6, 2019

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in Banking And Finance, Government, Local Economy, Top Stories

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

Mar 6, 2019

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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

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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

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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

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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…

Activity on stock market to rebound in May—Analyst predicts

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