Category: Top Stories
-
We’ve saved over GHS500 million through improved internal controls – SSNIT
The Social Security and National Insurance Trust, SSNIT, has announced that it has since 2017 made a total savings of GHS512 million. According to SNNIT, the amount was realized from strengthening a number of internal controls among others. Speaking to Citi Business News on the sidelines of a Presentation of a Toyota Hilux pickup to…
-
Databank withdraws from Agyapa deal as transaction advisor
Investment and brokerage firm, Databank has withdrawn its services as a financial advisor in the Agyapa royalties deal. The firm together with Imara Holding Limited jointly served as transaction advisors for the monetization of Ghana’s gold royalties through the dual listing of the Agyapa Gold Royalties Company on the Ghana and London Stock Exchanges. Databank…
-
Be responsive to succeed as employees – Sam Jonah to graduates
Former President of Anglogold Ashanti and Executive Chairman of Jonah Capital, Sir Sam Jonah has cautioned of difficult times for new graduates entering the job market in the short to medium term, even as the world grapples with the ongoing coronavirus pandemic. Since the pandemic began last year, thousands of Ghanaians have been laid-off, with…
-
Prosecute persons whose actions led to banking crisis – BoG Governor urged
As the Governor of the Bank of Ghana Dr. Ernest Addison prepares to start his second term from April 1, 2021, as leader of the Central Bank, he is being called upon to dedicate time and resources to ensure that all persons behind the collapse of about 9 indigenous banks are prosecuted. Since 2017 banks…
-
Tomato shortage looms following traders and transporters’ strike
Ghana might soon be experiencing a shortage of tomatoes and a jump in price of the commodity, as a result of an ongoing indefinite strike by the tomato transporters association. The strike, which began on Sunday, February 7, 2021, according to the Association, is due to the silence of the Ministry of Food and Agriculture…
-
AfCFTA: Businesses urged to focus on producing quality products
As businesses are jostling to take advantage of the Africa Continental Free Trade Area (AfCFTA), Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant says the commencement of operations of the agreement, gives Ghanaian manufacturing companies the opportunity to upgrade the production of their goods and services. According to him, this…
-
Fuel prices may go up by 16 pesewas soon – COPEC
As global crude oil prices continue to increase the Chamber of Petroleum Consumers, COPEC, is hinting of an up to 16 pesewas hike in fuel prices at the pumps in the coming days. In an interview with Citi Business News, Executive Secretary of COPEC, Duncan Amoah called on authorities to put measures in place to…
-
Foreign inflows and BoG measures will see cedi depreciate by 4% in 2021 – Economist
Renewed inflow of foreign portfolio investment coupled with some measures by the Bank of Ghana such as the forex forward auctions should see the Cedi depreciate marginally by about 4 percent for all of 2021. That’s according to an economist with Databank Courage Martey. After depreciating by more than 8 percent and 12 percent against…
-
Ghana Tourism Authority to commence enforcement of COVID-19 restrictions
The Ghana Tourism Authority says it will commence enforcement of the new COVID-19 directive for the hospitality sector. President Akufo-Addo in his 23rd COVID-19 update to the nation announced a number of restrictions. Pubs, beaches, cinemas and night clubs are to remain closed while restaurants are encouraged to as much as possible provide take-away services…
-
Cedi depreciation and taxes quadruple domestic fuel prices in the last decade – IES
Over the past decade (2010-2019), Ghana has seen a 347 percent increase in price of Gasoline (Petrol) and a 338 percent increase in Gasoil (Diesel) price at the pump, largely because of Cedi depreciation, taxes and levies. Analysis of data from the Energy Commission (EC), National Petroleum Authority (NPA) and IES’ MarketScan show that by…