Category: News
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Tullow Ghana hopeful of wining oil block in bidding process
Tullow Oil says it is one the best suited companies to explore the 5 oil blocks that were put on offer by government during a bidding process last year. That’s according to the Managing Director of the company Kwaku Awotwi. The President, Nana Addo Dankwa Akufo-Addo, on October 15, opened the blocks up for competitive tendering…
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Former workers of Consolidated Bank given Provident Fund, Pension contribution
Former workers of the five consolidated banks, Unibank, Beige, Royal, Construction and Sovereign banks may be heaving a sigh of relief as Citi Business News has gathered the workers can now access their tier 3 pension contributions, and Provident Funds. The Provident Fund is money the workers voluntarily contributed personally to a scheme which was…
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Key tourist sites to receive facelift—Ghana Tourism Authority
The Ghana Tourism Authority (GTA) has announced that key tourist sites in the country will receive a face lift within the short to medium term this year. The announcement comes at a time the CNN has ranked Ghana forth out of nineteen countries as top destinations in the world to visit this year. For years,…
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Kasapreko, Tetra Pak celebrate partnership by launching aseptic juice line
Kasapreko, Ghana’s indigenous manufacturer and producer of alcoholic and non-alcoholic drinks and Tetra Pak, world’s leading food processing and packaging company, are proudly celebrating their partnership by inaugurating Kasapreko’s first automated carton aseptic juice line. Over the past 2 years, the two companies have been working closely to make this project a reality. Commenting on…
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4 telcos seek redress over NCA fine at Electronic Communications Tribunal
Four telecommunication operators, Airtel-Tigo, Glo, MTN and Vodafone which were fined by the National Communications Authority’s (NCA) for poor service delivery, have decided to seek redress from the Electronic Communications Tribunal. The independent tribunal allows telecos to appeal against decisions or orders made by the regulator, the National Communications Authority (NCA). The four telecos are seeking…
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Ghana Airport Company MD sacked
The Managing Director of the Ghana Airport Company Limited, Mr. John Dekyem Attafuah, has been sacked from his position with immediate effect. According to sources, the dismissal letter dated 16th January 2019, was signed by the Aviation Minister, Joseph Kofi Adda, and addressed to the Board Chairman. Mr. John Dekyem Attafuah has been directed to…
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GPHA cannot be blamed for revenue shortfall—Director General
The Acting Director General of the Ghana Ports and Harbours Authority (GPHA) Michael Luguje says his outfit cannot be blamed for the shortfall in revenue for the Ghana Revenue Authority (GRA) for last year. The comment comes after the GRA stated that some activities at the country’s ports contributed to the revenue shortfall for 2018. According to Michael…
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SEC, EOCO collaborate to investigate Menzgold
The Securities and Exchange Commission (SEC) has told Citi Business News, it is working with the Economic and Organized Crime Office (EOCO) and the Attorney General to speed up investigations into the operations of Menzgold. It follows the dismissal of a suit filed against the SEC and Bank of Ghana by gold dealership firm, Menzgold…
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Cedi depreciates by 11% against the dollar over one year period
The cedi has depreciated by 11 percent between January 2018 and the same period this year [2019]. The local currency is now trading at 4 cedis 91 pesewas to a dollar on the interbank foreign exchange market. This is also remarkable as some currency analysts have predicted that the cedi could hit 5 cedis to…
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Improve system at ports to boost revenue—Importers Association
Importers and Exporters in Ghana have urged the Ghana Revenue Authority (GRA) to improve its systems at the ports to help the Finance Ministry meet its revenue target. According to the importers, even though government introduced some new measures at the ports –the policies failed to yield full results since its implementation faced many challenges.…