Category: Top Stories
-
GCB wins big at 2022 Citi Business Olympics; sweeps 12 trophies
GCB bank won 12 trophies at the just-ended 2022 Citi Business Olympics. GCB came in first in the sack race for women, table tennis for men and women, tug of war for men and volleyball for women. The bank won silver in the lime and spoon, volleyball for men, arm wrestling for men and tennis…
-
Weir Minerals wins CEO challenge at 2022 Citi Business Olympics
An executive of Weir Minerals who represented the Chief Executive Officer of the company came top of the CEOs Challenge at the 2022 edition of the Citi Business Olympics. Over 40 CEOs from different companies took part in the challenge. For this year’s CEOs challenge, the CEOs were tasked to shoot into an empty pole.…
-
Cocoa freight rates increased: 5% for containerised, 10% for bulk shipment
The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA) and 18 shipping lines have agreed to increase basic freight rates for the 2022/2023 cocoa season to all destinations but the United Kingdom (UK). As a result, basic freight for containerised shipments to all destinations except UK has been increased by 5 percent and basic freight…
-
Fitch downgrades Ghana again; moves country from ‘CCC’ to ‘CC’
Ghana’s credit ratings have seen another downgrade. The latest downgrade by Fitch Ratings saw Ghana’s long-term local and foreign-currency issuer default ratings (IDRs) drop to ‘CC’, from ‘CCC’. This comes almost a month after the country suffered a hit when its credit rating was downgraded by Fitch Ratings from B- to CCC in August 2022.…
-
Over 60 companies to show great sportsmanship at Citi Business Olympics tomorrow
All is set for Ghana’s biggest corporate sporting event dubbed Citi Business Olympics to be held tomorrow, Saturday, September 24, 2022, at the Eden Heights Sports Complex at Weija in Accra. Over 60 institutions are already geared up for the event, which will enable them compete amongst themselves for trophies and bragging rights. …
-
Car dealers to protest over 35% penalty on duties on imported vehicles
The Vehicle and Assets Dealers Union of Ghana has disclosed that plans are underway to embark on a demonstration against the government’s decision to slap a 35% penalty on imported used vehicles which are between one and five years old. The Customs (Amendment) Act 2020, Act 1014, intends to discourage the importation of second-hand vehicles…
-
Ghana set to start debt-restructuring talks for local bonds
Ghana is poised to start talks with domestic bondholders on a restructuring of its local-currency debt as part of the West African nation’s plan to secure a $3 billion loan from the International Monetary Fund. The country’s eurobonds extended declines. This is according to the Bloomberg. The nation’s largest debt investors including local banks and…
-
4.8% increase in GDP growth rate not surprising – Economist
The announcement of the expansion of Ghana’s economy does not seem to come as a surprise to some stakeholders in the finance space. Economist, Prof. Lord Mensah, is not impressed with the growth, asserting that the growth of the economy at the macro level does not reflect in the pockets of Ghanaians. The Ghana Statistical…
-
Companies gear up for 2022 Citi Business Olympics on September 24
Corporate Ghana is gearing up for the biggest sporting and networking event, the Citi Business Olympics. The 2022 edition of the event comes off on the 24th of September, 2022 at the Eden Heights Sports Complex, Weija. The event will be a day of team building, business networking, sharing ideas, learning and excitement as sixty…
-
Cedi depreciation: BoG, Police arrest over 70 ‘Black Market’ dealers
Officials of the Bank of Ghana, in collaboration with the Ghana Police Service, have arrested over 70 individuals and entities engaged in the business of buying and selling foreign exchange without a licence from the apex bank. The move follows a special operation conducted by the two institutions on foreign exchange parallel market operators, otherwise…