Category: Top Stories
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![Mobile money vendors explore more protection from telcom operators [Video]](https://citibusinessnews.com/wp-content/uploads/2021/05/mobile-money.png)
Mobile money vendors explore more protection from telcom operators [Video]
When the first Mobile Money service was launched in Ghana in 2009, the market probably wasn’t ready for full mobile financial services. Around 70 percent of the population was unbanked, that’s according to the World Bank, and only an estimated 35 percent of the population owned a mobile phone. However, the urban-rural divide was a…
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GIPC confident of achieving $3 billion FDI target for 2021
The Ghana Investment Promotion Centre (GIPC) is intensifying efforts to achieve its set target of US$3 billion worth of foreign direct investments for this year. According to the GIPC’s CEO, Yofi Grant, this will be done through partnerships with the country’s private sector. Ghana was ranked third in the whole of Africa with an FDI…
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Tema Oil Refinery not on the verge of collapse – Management
The management of Tema Oil Refinery (TOR), has refuted claims that it is on the verge of a shutdown due to debts owed some utility providers in the country. Some media reports had suggested that the Ghana Water Company Limited (GWCL) had cut water supply to TOR for close to a month due to its…
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Economists back calls by IMF for gov’t to prioritize progressive revenue mobilizations
Some economists have backed calls by the International Monetary Fund (IMF) for government to prioritize progressive revenue generation. According to them this will ensure that the rich in our society are made to pay taxes and levies which are commensurate with the value of their assets as well as their income. The International Monetary Fund…
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Intensify tax compliance efforts to increase revenue – Prof. Bokpin
An economist and Professor with the University of Ghana Business School, Professor Godfred Bokpin is urging government to intensify its tax compliance efforts in its quest to increase revenue mobilization in the country. According to him, this will enable government generate more revenue and enable it raise funds for key infrastructure projects thereby leading to…
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Ghana’s financial market to receive boost after launch of Capital Market Master Plan – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, says confidence in Ghana’s financial markets should rise, with the introduction of a 10-year strategic Capital Market Master Plan by the Securities and Exchange Commission (SEC). The Capital Market Master Plan (CMMP) is aimed at diversifying the capital market as well as boosting economic growth. The plan hinges on…
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Construction Chamber welcomes government’s move to establish Development Bank Ghana
The Ghana Chamber of Construction Industry has welcomed moves by the government to establish the Development Bank Ghana. In an interview with Citi Business News, the Chief Executive Officer of the Chamber of Construction Industry, Emmanuel Cherry, stated that the bank will be key to the development of the construction industry. “This has been one…
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Enforce anti-money laundering laws to keep Ghana off EU blacklist – E-Crime Bureau
Cybersecurity firm, e-Crime Bureau, has called for strict enforcement of all anti-money laundering regulations, to ensure Ghana is not included in future greylists over money laundering and terrorism financing. Ghana was cited back in May 2020, in addition to a number of other countries, by the European Commission over money laundering and terrorism financing concerns.…
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Ghana likely to lose if ENI/Springfield impasse ends up in court – IES
Ghana could be the overall loser if the ongoing impasse between ENI Ghana Exploration and Production Limited, and Springfield Exploration and Production Limited, which has led to a delay in the unitization of their Afina and Sankofa oil fields, end up in the International Court of Arbitration. That’s according to the Executive Director of the…
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Petroleum Commission builds capacity of indigenous companies
Through what has become known to Indigenous Ghanaian Companies (IGCs) as the Ghana Upstream Business Academy, Petroleum Commission and Tullow Ghana Limited (TGL) held the second-in-series of workshops towards enhancing the capacity of SMEs operating in Ghana’s upstream petroleum industry. The objective of the workshop was to create awareness among Indigenous Ghanaian Companies on the…