Category: News
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MTN raises GH¢ 1.146 bn from IPO
MTN has raised a total of 1.146 billion cedis from its Initial Public Offering (IPO). The amount realized from the IPO shows that MTN fell short of its target of 3.47 billion cedis by about 2.3 billion cedis. The telecom company however says the performance is highly commendable considering the volume of the offer. The…
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Auto plaza launches 2019 all-new Hyundai Santa Fe
Auto plaza limited which is the authorized partner of Hyundai Vehicles, has launched its 2019 all new Hyundai Santa Fe in Accra. The car comes in two new editions which are Deluxe edition which is selling at $ 49,000 and the Limited edition which is selling at $45,000. According to the company, Ghana is one…
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adb gets new Board of Directors
A new Board of Directors has been inaugurated for adb. The number of directors had dropped following the annulment of four institutional shareholders in the bank by the Bank of Ghana, last month. The four companies are; Starmount Company Limited, EDC investment, SIC Financial Services as well as Belstar Company limited. According to the central…
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![Petroleum Commission, 40 companies participate in ONS 2018[photos]](https://citibusinessnews.com/wp-content/uploads/2018/08/WhatsApp-Image-2018-08-27-at-12.39.04-PM-2-1.jpeg)
Petroleum Commission, 40 companies participate in ONS 2018[photos]
The Petroleum Commission is currently leading 4o companies to participate in the Offshore North Sea Conference in Stavanger Norway. The companies are made up of firms in the petroleum upstream sector. The delegation is made of the acting CEO of the Petroleum Commission, Egbert Faibille, and Deputy Minister for Energy, Joseph Cudjoe. – By: Lawrence…
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Norwegian Petroleum Directorate lauds Ghana’s petroleum policies
The Norwegian Petroleum Directorate (NPD) has lauded key stakeholders in Ghana’s oil and gas sector for formulating policies aimed at enhancing efficiency in the upstream sector. According to the directorate, Ghana has so far achieved substantial gains from the passage and implementation of relevant laws in the oil and gas industry. “Now that all the…
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Cancel non functional oil blocks – ACEP to government
The Africa Center for Energy Policy (ACEP) has called for a review of contracts that are given to companies that are mandated to drill oil in the country. According to the Executive Director of ACEP, Benjamin Boakye, such a move is necessary as most companies that have signed contracts with Ghana after its oil discovery…
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Customers frustrated over inaccessibility to cash at Beige bank
Fixed deposit account holders of defunct Beige bank are still unable to access their matured investments from the company. The issue comes despite the expiration of the ten day suspension of withdrawals from the said accounts. The Managers of the Consolidated bank on August 9, 2018 put a hold on all withdrawals of fixed deposit…
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MTN investors anxious over undisclosed IPO results
Investors who purchased MTN shares are anxious over the seeming delay in announcing the results for the Initial Public Offering. The telecom company concluded its IPO in July 2018 and it is expected to list the proceeds on the Ghana Stock Exchange by September 2018. MTN seeks to raise 3.47 billion cedis from the investing…
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Farmers trigger dormant rules on local purchases
Farmers in the country are advocating a policy that will ensure government institutions purchase locally made products to create a thriving industry. The farmers argue that successive governments only pay attention to their production and not its sustainance. ““I think government is the biggest buyer of everything. We have schools, we have government agencies that…
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Consolidated Bank slashed our allowances by 60% – Former Beige employee
A former staff of defunct BEIGE Bank, has revealed that Consolidated Bank Ghana Limited slashed their allowances by over 60 percent. Speaking on the Citi Breakfast Show on Tuesday, she said they were shocked when they found out that such a considerable margin had been slashed from their allowances. “Our salaries were paid. We were…