Category: News
-
AGI kicks against moves to increase utility tariff
The Association of Ghana Industries (AGI) says Ghanaian businesses will be overburdened if the Public Utilities and Regulatory Commission (PURC) approves the recently proposed tariff increases, without ensuring that efficiency in the power value chain is improved. The Northern Electricity Distribution Company (NEDCo) and the Ghana Grid Company (GRIDCo) have called for an upward review…
-
Dannex, Aryton Drugs, Starwin to complete merger by July
Management of three pharmaceutical companies, Dannex, Aryton Drugs and Starwin Limited has told Citi Business News that the merger of the three companies will be completed in July this year. The Merger processes of the three companies began about two years. When completed, the new company will be the biggest pharmaceutical Company in the country.…
-
Ghana’s debt hits 172.9 billion cedis
The total amount that Ghana owes reached 172.9 billion cedis in November 2018. This is according to data from the Bank of Ghana. The Summary of Economic and Financial data by the central bank shows that between July and November 2018, the country added 13.2 billion cedis to its debt. The figure went up from…
-
Payment System Law will streamline fintech industry—Zeepay Managing Director
Players in the country’s Eco digital space are optimistic the passage of the Payment System and Services bill will streamline their activities. The new payment system and services bill which currently before parliament is to replace the current electronic money issuer’s guidance being used by the industry. The move to pass the bill has also…
-
Felix Addo appointed Advisor for National Investment Bank
The Bank of Ghana has appointed Mr. Felix Addo as an Advisor for the National Investment Bank(NIB). The news comes after the central bank hinted in a press statement dated 4th January that it has appointed an Advisor has been appointed for the bank. A statement released by the Bank of Ghana today[25th January, 2019]…
-
Gov’t tracks fertilizer supply with bar codes to stop smuggling
The days of fertilizer smuggling from Ghana to neighboring countries should be coming to an end as a result of the introduction of a bar coding system into the program. That’s according to Prep-eez Technology Limited, the company responsible for the implementation of the new system. The Food and Agriculture Committee of parliament in its…
-
Vodafone must list on GSE after acquiring 4G spectrum—Kofi Yamoah
Managers of the Ghana Stock Exchange have disclosed that they are working with the Ministry of Communications to compel telecom company Vodafone to float part of its shares on the bourse as a requirement after it purchased a 4G spectrum. Justifying the need for Vodafone to list on the stock exchange, the Chief Executive Officer…
-
Telecoms Chamber seeks stay of execution over NCA fines
The Electronic Communications Tribunal will next week, give its ruling on a stay of execution filed by the Chamber of Telecommunications. It follows the latter’s dissatisfaction over a fine for failing to provide quality services as required. The Chamber of Telecommunications last week, petitioned the Electronic Communications Tribunal over fines imposed on them by the…
-
Ghana risks losing fish stock to depletion by Chinese-owned trawlers – Prof. Akpalu
Ghana is on the verge of losing its fish stock to China, a Natural Resources Economist, Prof. Wisdom Akpalu has warned. Prof. Akpalu in a recent lecture revealed that out of the 76 fishing trawlers operating in the country, only one of them is Ghanaian-owned, with the remaining trawlers belonging to Chinese nationals who have…
-
Stakeholders in tourism industry lament high taxes
Some players in Ghana’s Tourism sector have called on government to reduce the numerous taxes slapped on them as it impedes their operations. Although they are hopeful that parliament will deliberate on the issue, they are hoping an immediate action is taken on it. According to a Parliamentary report, some 21 taxes slapped on tourism…