Category: Top Stories
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LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant
Energy Consultant, Dr Yussif Sulemana has indicated that the liquified natural gas-to-power project will reduce the cost of electric production in the country by up to 30 percent. Ghana is set to open sub-Saharan Africa’s first liquefied natural gas-to-power project as it moves to position itself as a hub for the cleaner and cheaper fuel…
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Lending rates won’t go down any time soon – Economist
An Economist with Databank, Courage Martey, is concerned that lending rates in the short term, will not see a reduction, even though multiple business groups such as the Ghana Union of Traders Association (GUTA) have been calling for a reduction in the cost of credit to enable them to be competitive in the sub-region. Latest…
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Devise measures to stop fuel price increment – COPEC to government
The Chamber of Petroleum Consumers (COPEC) has asked the government to introduce measures to stop the increase in fuel prices. According to the Chamber, fuel prices have shot up from GH¢4.67 to GH¢5.10 per litre within the spate of a month. The Chamber said although these increases cannot be directly attributed to a deliberate governmental…
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![Business gradually booming for traders at University of Ghana as schools reopen [Video]](https://citibusinessnews.com/wp-content/uploads/2021/01/businesses-on-legon.png)
Business gradually booming for traders at University of Ghana as schools reopen [Video]
Many business owners whose trade largely depends on school activities are very elated by the resumption of schools. Following the announcement of reopening of schools, most of these businesses had to restock and revamp their shops to boost trade as fast as possible after several months of closure due to the COVID-19 pandemic. A visit…
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Government must appoint only qualified persons to energy sector boards – COPEC
The Chamber of Petroleum Consumers (COPEC) has called on the government to ensure that only persons with requisite knowledge and expertise are assigned to manage the various energy sector institutions. A recent circular from the government on January 7, 2021, had indicated a dissolution of the various boards and corporations in accordance with the country’s…
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Stakeholders in real estate sector confident of a boost in 2021
Stakeholders in the Real Estate industry are confident of growth in their business this year. Online real estate company Meqasa says it is already beginning to see some signs of improvement. Speaking to Citi Business News, CEO of Meqasa, Kelvin Nyame said his outfit is hopeful that the progress recorded so far in 2021 will…
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Inflation for December 2020 rises to 10.4%; still within revised target
Latest data released by the Ghana Statistical Service, GSS, indicates that the Consumer Price Index (CPI) for December 2020 has increased to 10.4 percent. The December inflation figure is 0.6 percentage points higher than the 9.8% percent recorded in November 2020. The Consumer Price Inflation (CPI) measures the change over time in the general price…
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GIPC begins probe into activities of Chy Century Heng Yue Group
The Ghana Investment Promotion Centre, GIPC, has begun investigations into activities of Chinese companies, Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. This follows claims by Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited that they have registered with the Ghana Investment Promotion Center, hence their activities are legal.…
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SEC refers CHY Century Heng Yue Group Limited to EOCO
The Deputy Director-General Legal, of the Securities and Exchange Commission, Mrs. Deborah Mawuse Agyemfrah has told Citi Business News that the case involving CHY Century Heng Yue Group Limited and SAIRUI E-Commerce Ghana Limited, has been referred to the Economic and Organised Crime Office (EOCO). In a press release dated January 8, 2021, the SEC…
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Don’t purchase unapproved COVID-19 vaccine – FDA cautions public
The Food and Drugs Authority has urged the general public to desist from buying any COVID-19 vaccine from health facilities. According to the Authority, its attention has been drawn to the fact that “some unscrupulous members of the business community are peddling information on the sale of COVID-19 vaccines to hospitals and other health facilities”.…